The 'zero-based budgeting' was first introduced in India in the budget of: MCQ with Answer and Explanation

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The 'zero-based budgeting' was first introduced in India in the budget of:

A. 1985-86

B. 2001-02

C. 1986-87

D. 1991-92

Answer: Option C

Solution (By JKSSB Mock Tests)

Zero-based budgeting was introduced in the Union Budget 1986-87.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'base effect' in inflation refers to:

A. the effect of money supply on prices

B. the effect of changing the base year of GDP

C. the effect of exchange rate on imports

D. inflation measured against a low or high price level in the previous year

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Correct Answer: Option D

Explanation:
Base effect refers to the influence of the previous year's price level on the current inflation rate.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Atal Innovation Mission' is part of:

A. Ministry of Finance

B. Make in India

C. SEBI

D. NITI Aayog

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Correct Answer: Option D

Explanation:
Atal Innovation Mission is a NITI Aayog initiative.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following was a central objective of the Mahalanobis strategy in the Second Plan?

A. investment in heavy and capital goods industries

B. promotion of cottage industries

C. land reforms

D. export promotion

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Correct Answer: Option A

Explanation:
The Mahalanobis strategy emphasized investment in heavy and capital goods industries.

This question belongs to: Economy GK Economy Set 1

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