The 'General Budget' in India was separated from the Railway Budget in which year? MCQ with Answer and Explanation

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The 'General Budget' in India was separated from the Railway Budget in which year?

A. 1921

B. 1924

C. 1950

D. 1947

Answer: Option B

Solution (By JKSSB Mock Tests)

Railway Budget was separated from the General Budget in 1924 on the Acworth Committee recommendation.

This question belongs to: Economy GK Economy Set 1

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Question #1

Which of the following is a characteristic of the Indian financial system?

A. Complete self-regulation without government oversight

B. Only one regulator for all financial markets

C. Absence of regulatory institutions

D. Presence of multiple regulators including RBI, SEBI, IRDAI and PFRDA

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Correct Answer: Option D

Explanation:
India's financial system is regulated by multiple specialised bodies: RBI for banking, SEBI for capital markets, IRDAI for insurance and PFRDA for pensions.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'National Industrial Corridor Development Programme' aims to:

A. build residential colonies

B. promote agriculture

C. expand railway passenger services

D. develop industrial corridors and smart cities

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Correct Answer: Option D

Explanation:
National Industrial Corridor Development Programme develops industrial corridors and smart industrial cities.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'International Court of Justice' is headquartered at:

A. The Hague

B. Geneva

C. New York

D. Vienna

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Correct Answer: Option A

Explanation:
The International Court of Justice is headquartered at The Hague, Netherlands.

This question belongs to: Economy GK Economy Set 1

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