41. Fiscal Policy, Budget, India's debt

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“A statement of estimated receipts and expenditures called annual Financial Statement (Budget) has to be placed before parliament for each financial year.” The above provision has been enshrined in which among the following articles of Constitution of India?

Article 110

Article 111

Article 112

Article 113

In which year “Zero Based Budgeting” started in India ?

1960

1983

1991

2000

Which among the following can be called a Balanced Budget ?

Total Revenue of the Government Exceeding Total Expenditure

Total Expenditure of the Government Exceeding Total Revenue

Total Revenue of the Government exactly equal to total Expenditure

Total Expenditure of the Government exceeding or equal to Total Revenue

Which among the following definition is nearest to the Gross Budgetary Support?

value of gross revenue receipts by the government

Value of total plan expenditure

Fraction of total expenditure of the government on different Central sectors plans

Fraction of total expenditure of the government on different Central sectors/ ministries/departments and the support to State/Union Territory Plan

Which among the following is a correct definition of fiscal deficit?

The gap between projected or estimated GDP and actual GDP

The total value of currency notes issued and currency actual in circulation

The gap between actual borrowings of government of India and expected expenditures as per budget provisions

Excess of Govt.’s disbursement comprising current and capital expenditures over its current receipts