The 'Budget Division' in India is a part of which ministry? MCQ with Answer and Explanation

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The 'Budget Division' in India is a part of which ministry?

A. Ministry of Commerce

B. NITI Aayog

C. Ministry of Statistics

D. Ministry of Finance

Answer: Option D

Solution (By JKSSB Mock Tests)

Budget Division is part of the Department of Economic Affairs, Ministry of Finance.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Economic Survey' in India is published by:

A. NITI Aayog

B. Ministry of Finance

C. NSO

D. RBI

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Correct Answer: Option B

Explanation:
Economic Survey is published by the Ministry of Finance.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on chocolates is:

A. 18%

B. 12%

C. 28%

D. 5%

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Correct Answer: Option A

Explanation:
Chocolates attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a measure of economic development rather than mere growth?

A. Increase in foreign exchange reserves only

B. Improvement in HDI, reduction in poverty and inequality

C. Increase in money supply

D. Increase in GDP only

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Correct Answer: Option B

Explanation:
Economic development is a broader concept than growth and includes improvements in living standards, health, education, reduction in poverty and inequality, as reflected in indices like HDI.

This question belongs to: Economy GK Economy Set 1

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