Indian History and Budget
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Questions and Answers

Who presented the first ever budget of pre-independent India?

  • Mahatma Gandhi
  • James Wilson (correct)
  • Jawaharlal Nehru
  • Liaquat Ali Khan
  • When did Liaquat Ali Khan present an interim budget?

  • One month after the attainment of independence
  • One year after the attainment of independence
  • Three months after the attainment of independence (correct)
  • Six months after the attainment of independence
  • What is the current duration of the financial year in India?

  • From 1st May to 31st April over two calendar years
  • From 1st April to 31st March over two calendar years (correct)
  • From 1st January to 31st December over one calendar year
  • From 1st October to 30th September over one calendar year
  • How many of the following documents are presented as 'Budget Documents'?

    <p>All four</p> Signup and view all the answers

    What is the focus of the 'Lakhpati Didi scheme'?

    <p>Empowering women members of Self Help Groups</p> Signup and view all the answers

    Which of the following represents the highest income estimates in the Estimates of Interim Budget 2024-25?

    <p>Goods and Service Tax</p> Signup and view all the answers

    What is the current trend of female labor force participation rate in India?

    <p>It has been decreasing continuously from 2017 to 2023</p> Signup and view all the answers

    What is the age range for Cervical Cancer Vaccination in India?

    <p>Girls aged 9 to 14 years</p> Signup and view all the answers

    What is the significance of James Wilson in the context of Indian budget history?

    <p>He presented the first ever budget of pre-independent India</p> Signup and view all the answers

    What is the current duration of the financial year in India?

    <p>1st April to 31st March</p> Signup and view all the answers

    What is the significance of the Annual Financial Statement in the context of Indian budget?

    <p>It is a document presented along with the budget</p> Signup and view all the answers

    What is the focus of the Macro-economic Framework Statement?

    <p>It provides an overview of the country's macro-economic situation</p> Signup and view all the answers

    What is the main objective of the 'Lakhpati Didi scheme'?

    <p>To empower women members of Self Help Groups</p> Signup and view all the answers

    What is the current trend of female labor force participation rate in India?

    <p>It has decreased continuously from 2017 to 2023</p> Signup and view all the answers

    What is the age range for Cervical Cancer Vaccination in India?

    <p>Girls aged 9 to 14 years</p> Signup and view all the answers

    What is the significance of the Demands for Grants in the context of Indian budget?

    <p>It is a document presented along with the budget</p> Signup and view all the answers

    Study Notes

    Budget in India

    • James Wilson presented the first-ever budget of pre-independent India.
    • Liaquat Ali Khan presented an interim budget three months after the attainment of independence.
    • The financial year in India does not span from 1st May to 31st April over two calendar years.

    Budget Documents

    • The following documents are presented as 'Budget Documents':
      • Annual Financial Statement
      • Demands for grants
      • Finance bill
      • Macro-economic Framework Statement

    Estimates of Interim Budget 2024-25

    • Goods and Service Tax represents a significant income estimate, but it may not be the highest.
    • Capital expenditure estimate is not more than 10% of the total expenditure estimate.

    Lakhpati Didi Scheme

    • The Lakhpati Didi scheme is not the flagship scheme of the Ministry of Women and Child Development.
    • A Lakhpati Didi is an adult woman member of the family, regardless of her income status.
    • The scheme focuses on empowering women members of Self Help Groups.

    Interim Budget 2024-25

    • The female labor force participation rate has decreased continuously from 2017 to 2023 in the country.
    • Enrolment of women in STEM courses is less than 40% in the country.
    • Cervical Cancer Vaccination is encouraged for girls aged 9 to 14 years in the country.

    Strategic Sectors in India

    • The following strategic sectors are open for private sector investment in India:
      • Defence
      • Space
      • Nuclear Energy ( Mining is not open for private sector investment in India)

    Budget in India

    • James Wilson presented the first-ever budget of pre-independent India.
    • Liaquat Ali Khan presented an interim budget three months after the attainment of independence.
    • The financial year in India does not span from 1st May to 31st April over two calendar years.

    Budget Documents

    • The following documents are presented as 'Budget Documents':
      • Annual Financial Statement
      • Demands for grants
      • Finance bill
      • Macro-economic Framework Statement

    Estimates of Interim Budget 2024-25

    • Goods and Service Tax represents a significant income estimate, but it may not be the highest.
    • Capital expenditure estimate is not more than 10% of the total expenditure estimate.

    Lakhpati Didi Scheme

    • The Lakhpati Didi scheme is not the flagship scheme of the Ministry of Women and Child Development.
    • A Lakhpati Didi is an adult woman member of the family, regardless of her income status.
    • The scheme focuses on empowering women members of Self Help Groups.

    Interim Budget 2024-25

    • The female labor force participation rate has decreased continuously from 2017 to 2023 in the country.
    • Enrolment of women in STEM courses is less than 40% in the country.
    • Cervical Cancer Vaccination is encouraged for girls aged 9 to 14 years in the country.

    Strategic Sectors in India

    • The following strategic sectors are open for private sector investment in India:
      • Defence
      • Space
      • Nuclear Energy ( Mining is not open for private sector investment in India)

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    Quiz questions about the history of budget in India, including the first budget presenter and the financial year span. Test your knowledge of Indian history and economy!

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