Which of the following is NOT a component of the Union Budget of India?
A. Finance Bill
B. Capital Budget
C. Revenue Budget
D. Monetary Policy Statement
Answer: Option D
Solution (By JKSSB Mock Tests)
The Monetary Policy Statement is issued by the RBI. The Union Budget consists of the Revenue Budget, Capital Budget and related documents including the Finance Bill.
Explanation:
The life-cycle hypothesis, associated with Modigliani, posits that individuals smooth consumption over their lifetime by saving during working years and dissaving during retirement.
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