Government Budget — Prelims Questions

With reference to the Union Budget process in India, consider the following statements: 1. The Railway Budget was merged with the General Budget in 2016 2. Vote on Account can be granted for a maximum period of four months 3. Supplementary grants require prior approval of the Finance Commission 4. The budget speech is delivered before presenting the Annual Financial Statement Which of the statements given above are correct?

Which of the following best describes the constitutional provision regarding 'charged' expenditure in the Union Budget?

Consider the following statements about fiscal deficit: 1. It represents the borrowing requirement of the government 2. It includes both revenue and capital expenditure 3. It is always equal to the sum of revenue deficit and capital deficit 4. Under FRBM Act, it should not exceed 3% of GDP Which of the statements given above are correct?

The concept of 'Zero-Based Budgeting' implies:

With reference to the merger of Railway Budget with Union Budget, consider the following: 1. It was implemented from the financial year 2017-18 2. It ended the practice dating back to the colonial period 3. It was done to improve resource allocation efficiency 4. Railways now compete with other ministries for budget allocation Which of the above statements are correct?