The 'non-plan expenditure' and 'plan expenditure' classification in the budget was removed from which financial year? MCQ with Answer and Explanation

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The 'non-plan expenditure' and 'plan expenditure' classification in the budget was removed from which financial year?

A. 2017-18

B. 2018-19

C. 2015-16

D. 2020-21

Answer: Option A

Solution (By JKSSB Mock Tests)

The plan/non-plan expenditure classification was removed from the 2017-18 budget.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'GeM' portal is operated by which organization?

A. NITI Aayog

B. RBI

C. Ministry of Finance

D. Ministry of Commerce and Industry

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Correct Answer: Option D

Explanation:
Government e-Marketplace is operated under the Ministry of Commerce and Industry.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Goods and Services Tax' on biscuits is:

A. 12%

B. 18%

C. 5%

D. 28%

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Correct Answer: Option B

Explanation:
Biscuits generally attract 18% GST, with some low-value variants at 12% or 5%.

This question belongs to: Economy GK Economy Set 1

Question #3

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Which of the following is NOT a determinant of aggregate demand?

A. Consumption expenditure

B. Government expenditure

C. Technology level

D. Investment expenditure

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Correct Answer: Option C

Explanation:
Technology primarily affects aggregate supply. Aggregate demand is determined by consumption, investment, government spending and net exports.

This question belongs to: Economy GK Economy Set 1

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