Budget — Important Questions
Gujarat Board · Class 11 · Economics
41 important questions from Budget for Gujarat Board Class 11 Economics, with answers. Includes multiple choice and multiple correct questions.
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Important Questions from Budget
Which of the following are purposes of a budget? (Select all correct answers)
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To obtain approval from elected representatives, To allocate resources according to priority, To inform the public about government plans, To get idea about available resources
Budget serves multiple purposes: obtaining approval, resource allocation, public information, and understanding available resources. It's not meant to generate profits.
A deficit budget occurs when:
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Government expenditure exceeds income
In a deficit budget, the government's anticipated total expenditure is more than the anticipated total income.
Who is the chairperson of the GST Council?
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Finance Minister of India
The Finance Minister of India is the chairperson of the GST Council, with state finance ministers as members.
Which of the following are accounts on the credit side of a budget? (Select all correct answers)
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Revenue income, Capital income
The credit side of a budget contains income accounts: revenue income and capital income. Expenditures are on the debit side.
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Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
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