The 'Union Budget' in India is presented in Parliament on: MCQ with Answer and Explanation

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The 'Union Budget' in India is presented in Parliament on:

A. 1 March every year

B. 31 March every year

C. 1 February every year

D. 1 April every year

Answer: Option C

Solution (By JKSSB Mock Tests)

Since 2017, the Union Budget is presented on 1 February.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Green Revolution' in India began in the mid:

A. 1990s

B. 1940s

C. 1980s

D. 1960s

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Correct Answer: Option D

Explanation:
The Green Revolution began in India in the mid-1960s.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'marginal propensity to consume' can never be greater than:

A. infinity

B. 0.5

C. 2

D. 1

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Correct Answer: Option D

Explanation:
MPC is the fraction of additional income consumed, so it ranges from 0 to 1.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on lottery tickets is:

A. 0%

B. 12%

C. 28%

D. 18%

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Correct Answer: Option C

Explanation:
Lottery tickets attract 28% GST.

This question belongs to: Economy GK Economy Set 1

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