Government Budget Concepts Quiz for Economics Students

Play an AI-generated podcast conversation about this lesson

What is the meaning of Government Budget?

A statement showing estimated government expenditure and receipts annually (correct)

A statement showing actual government expenditure and receipts annually

A statement showing estimated private sector expenditure and receipts annually

A statement showing actual private sector expenditure and receipts annually

When does the financial year or fiscal year run in India?

From October 1 to September 30

From July 1 to June 30

From April 1 to March 31 (correct)

From January 1 to December 31

What is the primary objective of government budget in terms of resource redistribution?

Minimizing government expenditure

Promoting private sector investment

Achieving economic and social welfare (correct)

Maximizing government revenue

How does the government reduce disparities in income and wealth?

By imposing tax on the rich and spending more on the welfare of the poor Signup and view all the answers

What is one way the government encourages investment in the economy?

By providing tax concessions or subsidies Signup and view all the answers

Government budget is prepared annually to show estimated expenditure and receipts of the government over the fiscal or financial year.

True Signup and view all the answers

The financial year or fiscal year in India runs from January 1 to December 31.

False Signup and view all the answers

One objective of the government budget is to reduce disparities in income and wealth in the economy.

True Signup and view all the answers

By providing tax concessions or subsidies, the government discourages investment in the economy.

False Signup and view all the answers

Government budget aims to achieve both economic and social welfare in the Indian economy.

True Signup and view all the answers

Government Budget Concepts Quiz for Economics Students

Podcast Beta

Questions and Answers

What is the meaning of Government Budget?

When does the financial year or fiscal year run in India?

What is the primary objective of government budget in terms of resource redistribution?

How does the government reduce disparities in income and wealth?

What is one way the government encourages investment in the economy?

Government budget is prepared annually to show estimated expenditure and receipts of the government over the fiscal or financial year.

The financial year or fiscal year in India runs from January 1 to December 31.

One objective of the government budget is to reduce disparities in income and wealth in the economy.

By providing tax concessions or subsidies, the government discourages investment in the economy.

Government budget aims to achieve both economic and social welfare in the Indian economy.

More Quizzes Like This

Introduction to Economics Class 12 Quiz and Flashcards

Hacienda Pública Española

Presupuesto del Sector Público

Fiscal Policy MCQ 3

Upgrade to continue