Government Budget NDA Questions

NDA Economics

Government Budget MCQ Questions


1.
A government budget may be defined as a statement of the estimated:
A.
Foreign exchange reserves of the country
B.
Assets and liabilities of private companies
C.
Receipts and expenditure of the government for a coming financial year
D.
Only expenditure of the government for the past year
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ANSWER :
C. Receipts and expenditure of the government for a coming financial year
2.
In India, the financial year for which the Union Government's budget is prepared runs from:
A.
1st October to 30th September
B.
1st April to 31st March of the following year
C.
1st January to 31st December
D.
1st July to 30th June
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ANSWER :
B. 1st April to 31st March of the following year
3.
The constitutional provision under which the Union Budget (referred to as the 'Annual Financial Statement') must be laid before both Houses of Parliament each year is:
A.
Article 265
B.
Article 110
C.
Article 112
D.
Article 280
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ANSWER :
C. Article 112
4.
The Union Budget of India is presented to Parliament by the:
A.
Prime Minister
B.
Governor of the Reserve Bank of India
C.
President of India
D.
Union Finance Minister
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ANSWER :
D. Union Finance Minister
5.
One of the primary macroeconomic objectives of a government budget is to achieve efficient allocation of resources, which involves the government influencing:
A.
Only the population growth rate
B.
Only the currency exchange rate
C.
The pattern of production and allocation of resources between private and public sectors, based on social welfare rather than pure profit motives
D.
Only foreign investment decisions
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ANSWER :
C. The pattern of production and allocation of resources between private and public sectors, based on social welfare rather than pure profit motives
6.
The objective of a government budget aimed at reducing inequalities of income and wealth is typically pursued through mechanisms such as:
A.
Exclusive focus on defence expenditure
B.
Progressive taxation of the rich combined with welfare expenditure/subsidies benefiting the poor
C.
Uniform taxation of all income groups at the same flat rate
D.
Elimination of all forms of taxation
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ANSWER :
B. Progressive taxation of the rich combined with welfare expenditure/subsidies benefiting the poor