The 'Interim Budget' is presented when: MCQ with Answer and Explanation

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The 'Interim Budget' is presented when:

A. elections are near or the government is in transition

B. there is a financial emergency

C. the government has full term

D. there is a war

Answer: Option A

Solution (By JKSSB Mock Tests)

An interim budget is presented before elections or a transition period.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Economic Survey' is usually authored by:

A. RBI

B. Chief Economic Adviser's team in the Ministry of Finance

C. SEBI

D. NITI Aayog

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Correct Answer: Option B

Explanation:
The Economic Survey is prepared by the Chief Economic Adviser's team.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'GST Council' is a constitutional body under which article?

A. Article 280

B. Article 246A

C. Article 279A

D. Article 324

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Correct Answer: Option C

Explanation:
The GST Council is constituted under Article 279A.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'snob effect' in consumer behaviour refers to:

A. buying only necessities

B. following popular trends

C. buying more when price falls

D. buying goods to appear exclusive and different

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Correct Answer: Option D

Explanation:
The snob effect is consumer preference for exclusive goods that set them apart.

This question belongs to: Economy GK Economy Set 1

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