Union Budget & Economic Survey Analytics Quiz — 7 Free Questions

Question 1

What is the name of the further budget document required under the FRBM Act, setting out the government's rolling three-year projections for key fiscal indicators such as the fiscal deficit and total revenue?

Question 2

What is the name of the composite index, generally known by its abbreviation HDI, published by the United Nations Development Programme, combining indicators of life expectancy, education and per capita income to assess a country's overall level of human development?

Question 3

Bringing together the discussion of budget preparation and documents from across this entire pack, what role does this material play in relation to the rest of this quiz?

Question 4

What general term describes a provision within the FRBM Act, already discussed in an earlier quiz, allowing the government to deviate from its stipulated fiscal deficit targets under specified exceptional circumstances, such as a national security crisis or a severe economic shock?

Question 5

What general measure of GDP excludes indirect taxes and includes subsidies, reflecting the actual cost of the factors of production, such as labour and capital, used to generate a given level of output?

Question 6

Roughly what timeframe is generally cited as the broad period within which a Departmentally Related Standing Committee, discussed elsewhere in this pack, is generally expected to complete its examination of a ministry's Demands for Grants and submit its report?

Question 7

What economic concept measures the change in overall economic output resulting from a given change in government spending or taxation, a concept sometimes discussed within the Economic Survey when assessing fiscal policy options?

📚 All Quizzes

Browse every category and see the full list of quizzes on BriskQuiz

→

About Union Budget & Economic Survey Analytics

This quiz is meant for students preparing for the IAS examination and other competitive tests, and for anyone who wants a thorough, well-rounded understanding of how the Union Budget is prepared and passed, and how the Economic Survey and national income data fit alongside it. It begins with how the budget is actually prepared -- the Budget Division, the halwa ceremony, its various formal documents and the recent reforms to its presentation. A second pack covers the parliamentary procedure through which the budget is scrutinised and passed -- Demands for Grants, cut motions, the guillotine and the Money Bill status of the Finance Bill. A third pack surveys different budgeting techniques -- zero-based, performance, outcome, gender and programme budgeting. A fourth pack covers the Economic Survey itself -- who prepares it, its structure and its non-binding advisory character. A fifth pack covers national income accounting in technical depth -- GDP, GNP, NDP, NNP and the various market-price, factor-cost, nominal and real adjustments. It closes with recent fiscal targets, employment data and a synthesis tying the whole budget and survey process together. When complete it will have one hundred and twenty carefully checked questions, arranged in six packs of twenty.

Every question has four options, and the correct option can be in any position. After each question there is a detailed explanation of more than five lines, in simple Indian English that a school student can follow, giving the important names, figures and the points that examiners like to test.

Every fact has been checked against standard reference material on India's Union Budget, Economic Survey and national income accounting system, current as of this quiz's preparation.