Government Budget — Important Questions
ICSE · Class 12 · Economics
70 important questions from Government Budget for ICSE Class 12 Economics, with answers. Includes multiple choice and multiple correct questions.
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Important Questions from Government Budget
Under which article is the Annual Financial Statement laid before Parliament?
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Article 112
Under Article 112 of the Constitution, a statement of estimated receipts and expenditure has to be laid before Parliament.
What is the financial year for the Indian budget?
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April 1 to March 31
The financial year for the Indian budget runs from April 1 to March 31.
Which three parts show the receipts and payments of government in the budget?
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Consolidated Fund of India, Contingency Fund of India and Public Account
The receipts and payments are shown under the Consolidated Fund of India, Contingency Fund of India and Public Account.
Which fund contains all revenues received and loans raised by the government?
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Consolidated Fund of India
All revenues received and loans raised by the government form the Consolidated Fund of India.
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