Budget
Gujarat Board · Class 11 · Economics
Practice quiz for Budget — Gujarat Board Class 11 Economics. MCQs and questions with answers to test your preparation.
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Quick Quiz: Budget
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What is a government budget?
How many tiers of government are mentioned in the Indian Constitution?
In a balanced budget:
GST was introduced in India in which year?
Sample Questions
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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