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Questions and Answers
Which body is responsible for preparing the Budget as per the text?
Which body is responsible for preparing the Budget as per the text?
- President
- Ministry of Finance
- Department of Economic Affairs (correct)
- Budget Division
How is the Budget classified in the Union Budget as per the text?
How is the Budget classified in the Union Budget as per the text?
- Short-term Budget and Long-term Budget
- Operational Budget and Strategic Budget
- Revenue Budget and Capital Budget (correct)
- Income Budget and Expense Budget
In which houses of Parliament is the annual financial statement laid before as per Article 112?
In which houses of Parliament is the annual financial statement laid before as per Article 112?
- Lok Sabha (House of the People)
- Rajya Sabha (Council of States)
- Both Lok Sabha and Rajya Sabha (correct)
- None of the above
What is the basis of preparation for the Budget according to the text?
What is the basis of preparation for the Budget according to the text?
Who presents the budget in the Parliament according to the text?
Who presents the budget in the Parliament according to the text?
Which part of the budget consists of various schemes and priorities announced by the government?
Which part of the budget consists of various schemes and priorities announced by the government?
What are the two main components of the Union Budget mentioned in the text?
What are the two main components of the Union Budget mentioned in the text?
What is the purpose of the Fiscal Policy Statements mandated under the FRBM Act?
What is the purpose of the Fiscal Policy Statements mandated under the FRBM Act?
Which document provides a summary of the government's expenditure and revenue for the upcoming fiscal year?
Which document provides a summary of the government's expenditure and revenue for the upcoming fiscal year?
What is the significance of the Medium-Term Fiscal Policy cum Fiscal Policy Strategy Statement?
What is the significance of the Medium-Term Fiscal Policy cum Fiscal Policy Strategy Statement?
Which document explains in detail the government's plans to implement budget announcements from the previous fiscal year?
Which document explains in detail the government's plans to implement budget announcements from the previous fiscal year?
What does the Annual Financial Statement under Article 112 primarily focus on?
What does the Annual Financial Statement under Article 112 primarily focus on?
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