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 April every year

B. 31 March every year

C. 1 March every year

D. 1 February every year

Answer: Option D

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 'population density' in India is measured as:

A. persons per house

B. persons per state

C. persons per village

D. persons per square kilometre

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Correct Answer: Option D

Explanation:
Population density is persons per square kilometre.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Presidency Banks' were merged into the Imperial Bank of India in which year?

A. 1935

B. 1949

C. 1921

D. 1905

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Correct Answer: Option C

Explanation:
The three presidency banks were merged into the Imperial Bank of India in 1921.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a feature of the 'Special Drawing Rights' allocation by the IMF?

A. SDRs are only available to countries with balance-of-payments needs under strict conditionality

B. SDRs are a form of private cryptocurrency

C. A general allocation of SDRs provides unconditional liquidity to member countries in proportion to their quotas

D. SDRs can be used only for domestic fiscal spending

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Correct Answer: Option C

Explanation:
A general SDR allocation distributes new SDRs to all IMF members in proportion to their quotas, thereby increasing global liquidity without the policy conditionality attached to IMF lending programmes.

This question belongs to: Economy GK Economy Set 1

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