upsc-p1-current-affairs-economy-budget-survey MCQ - Practice Questions with Answers

Q1With reference to reports and composite indices, consider the following statements: 1. The data year underlying an index may differ from its release year. 2. A country's rank can change because of the performance of other countries even when its own score improves. 3. A composite index provides complete evidence because weighting choices, missing data and modelled estimates do not affect its result. Which of the statements given above are correct? Select the correct answer using the code given below.

Q2Consider the following statements about deficit indicators: 1. Effective revenue deficit is revenue deficit minus grants for creation of capital assets. 2. Primary deficit is fiscal deficit minus interest payments. 3. Public debt is an annual flow, whereas fiscal deficit is accumulated past borrowing. Which of the statements given above are correct? Select the correct answer using the code given below.

Q3Consider the following statements about the Economic Survey: 1. It is an annual Ministry of Finance document prepared under the guidance of the Chief Economic Adviser. 2. It authorises withdrawal from the Consolidated Fund of India for the expenditure discussed in it. Which one of the following is correct?

Q4Arrange the following developments in chronological order, beginning with the earliest: 1. The Economic Survey began to be presented separately from the Budget. 2. The first merged Railway and General Budget was presented. 3. The first Economic Survey was presented as part of the Budget papers. 4. The Cabinet approved merger of the Railway Budget, advancement of the Budget date and removal of plan/non-plan classification. Select the correct answer using the code given below.