Budgeting

Description: This quiz covers the topic of Budgeting in Indian Politics.
Number of Questions: 15
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Tags: budgeting indian politics
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What is the primary objective of budgeting in Indian politics?

  1. To allocate resources efficiently

  2. To control government spending

  3. To promote economic growth

  4. To reduce budget deficits


Correct Option: A
Explanation:

The primary objective of budgeting in Indian politics is to allocate resources efficiently among various sectors and programs to achieve desired outcomes.

Which article of the Indian Constitution empowers the Parliament to pass the annual budget?

  1. Article 110

  2. Article 112

  3. Article 114

  4. Article 116


Correct Option: B
Explanation:

Article 112 of the Indian Constitution empowers the Parliament to pass the annual budget.

What is the process called by which the government estimates its revenues and expenditures for the upcoming fiscal year?

  1. Budgeting

  2. Fiscal planning

  3. Financial forecasting

  4. Economic modeling


Correct Option: A
Explanation:

Budgeting is the process by which the government estimates its revenues and expenditures for the upcoming fiscal year.

Which document presents the government's financial statement and outlines its economic policies for the upcoming fiscal year?

  1. Union Budget

  2. Economic Survey

  3. Finance Bill

  4. Annual Financial Statement


Correct Option: A
Explanation:

The Union Budget is the document that presents the government's financial statement and outlines its economic policies for the upcoming fiscal year.

What is the term used to describe the difference between the government's estimated revenues and expenditures in a given fiscal year?

  1. Budget surplus

  2. Budget deficit

  3. Fiscal balance

  4. Revenue gap


Correct Option: B
Explanation:

Budget deficit is the term used to describe the difference between the government's estimated revenues and expenditures in a given fiscal year.

Which type of budget is characterized by a deliberate attempt to keep government spending below its estimated revenues?

  1. Balanced budget

  2. Surplus budget

  3. Deficit budget

  4. Expansionary budget


Correct Option: B
Explanation:

A surplus budget is characterized by a deliberate attempt to keep government spending below its estimated revenues.

What is the term used to describe the process of allocating funds to different government departments and programs?

  1. Budget allocation

  2. Resource allocation

  3. Fiscal distribution

  4. Expenditure management


Correct Option: A
Explanation:

Budget allocation is the term used to describe the process of allocating funds to different government departments and programs.

Which type of budget is designed to stimulate economic growth by increasing government spending and reducing taxes?

  1. Expansionary budget

  2. Contractionary budget

  3. Neutral budget

  4. Balanced budget


Correct Option: A
Explanation:

An expansionary budget is designed to stimulate economic growth by increasing government spending and reducing taxes.

What is the purpose of the Finance Bill in the Indian budgeting process?

  1. To authorize the government to collect taxes

  2. To allocate funds to different government departments

  3. To present the government's economic policies

  4. To estimate the government's revenues and expenditures


Correct Option: A
Explanation:

The purpose of the Finance Bill in the Indian budgeting process is to authorize the government to collect taxes.

Which constitutional body is responsible for overseeing the implementation of the Union Budget?

  1. Finance Commission

  2. Planning Commission

  3. Central Vigilance Commission

  4. Comptroller and Auditor General of India


Correct Option: D
Explanation:

The Comptroller and Auditor General of India is the constitutional body responsible for overseeing the implementation of the Union Budget.

What is the term used to describe the process of reviewing and approving the government's budget proposals?

  1. Budget scrutiny

  2. Fiscal oversight

  3. Financial audit

  4. Legislative review


Correct Option: D
Explanation:

Legislative review is the term used to describe the process of reviewing and approving the government's budget proposals.

Which type of budget is characterized by a deliberate attempt to reduce government spending and increase taxes?

  1. Contractionary budget

  2. Expansionary budget

  3. Neutral budget

  4. Balanced budget


Correct Option: A
Explanation:

A contractionary budget is characterized by a deliberate attempt to reduce government spending and increase taxes.

What is the term used to describe the process of estimating the government's revenues and expenditures for the upcoming fiscal year?

  1. Budgeting

  2. Fiscal planning

  3. Financial forecasting

  4. Economic modeling


Correct Option: A
Explanation:

Budgeting is the term used to describe the process of estimating the government's revenues and expenditures for the upcoming fiscal year.

Which document presents the government's financial statement and outlines its economic policies for the upcoming fiscal year?

  1. Union Budget

  2. Economic Survey

  3. Finance Bill

  4. Annual Financial Statement


Correct Option: A
Explanation:

The Union Budget is the document that presents the government's financial statement and outlines its economic policies for the upcoming fiscal year.

What is the term used to describe the difference between the government's estimated revenues and expenditures in a given fiscal year?

  1. Budget surplus

  2. Budget deficit

  3. Fiscal balance

  4. Revenue gap


Correct Option: B
Explanation:

Budget deficit is the term used to describe the difference between the government's estimated revenues and expenditures in a given fiscal year.

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