Subject: Economics
Book: Comprehensive Indian Economy
Every year, the Union Budget reveals the government’s revenue and expenditure estimates. The process includes preparation by the Ministry of Finance, parliamentary debates, and vote on demands. Key terms—like revenue deficit (difference between revenue expenditure and revenue receipts), fiscal deficit (total borrowings), and primary deficit (fiscal deficit minus interest payments)—often appear in exams. Understanding the distinction between plan vs. non-plan expenditure (older classification) or capital vs. revenue expenditure clarifies how funds are allocated. Focus also on FRBM targets and how budgetary announcements align with macroeconomic objectives such as growth and equity.
What does “Laissez-faire” policy advocate?
View QuestionWhat is the meaning of “disguised unemployment”?
View QuestionWhat is the purpose of the "Minimum Support Price" (MSP) in India?
View QuestionWhat does the term “elasticity of demand” measure?
View QuestionWhat is “open market operations” (OMO)?
View QuestionWhich of the following is NOT an example of an indirect tax?
View QuestionWhich organization is responsible for estimating India’s Gross Domestic Product (GDP)?
View QuestionWhat is meant by “marginal propensity to consume”?
View QuestionWhich of the following factors is NOT included in the calculation of Human Development Index (HDI)?
View QuestionWhat is meant by “monetary policy”?
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