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.
Which economic concept is described as “the next best alternative foregone”?
View QuestionWhat is the main purpose of monetary policy?
View QuestionWhich term refers to an economy that has elements of both capitalism and socialism?
View QuestionWhich of the following is an example of a capital receipt for the government?
View QuestionWhat is the significance of “Purchasing Power Parity” (PPP)?
View QuestionWhich of the following is an example of a renewable resource?
View QuestionWhat does the Gini Coefficient measure?
View QuestionWhich of the following is NOT a component of Aggregate Demand?
View QuestionWhat is meant by “structural unemployment”?
View QuestionWhat is the meaning of “dumping” in international trade?
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