12th Class Economics Government Budget And The Economy / सरकार का बजट और अर्थव्यवस्था Question Bank Case Based MCQs - Government Budget and Economy

Direction: Q. 11 to 15

Read the following case study and answer the questions.

Government budget is an annual estimated statement of receipt and expenditures of the government. Prepared annually with various objectives. The Finance Ministry of the country prepared the budget and it is presented by the Finance Minister. It is an annual process and prepared by the government at various level. A government budget is different from the Five Year Plans which are prepared with long-term objectives.

However both of these are prepared and presented keeping in mind the objective of the government. An annual union budget is divided into several parts to take care of all types of incomes and expenditures. Mrs. Nirmala Sitharaman, the Finance Minister of the country announced two relief package during the Covid-19 Lockdown to help people getting food and source of income. This announcement was in addition to the budget presented during April 2020 to March 2021.

The annual budget is prepared only by the union government. Choose from options below

A) True

B) False

C) Partially true

D) Incomplete statement

Correct Answer: C

Solution :

The union budget is prepared by the Central Government only however, every state government prepares its own budget different from union budget.