The budget of the central government is known as the ______.
Show answer & explanation
Correct answer: C
Explanation
The Correct Answer is option 2 i.e. Union Budget.
The budget of the central government of India is officially called the Union Budget. It is an annual financial statement that outlines the government's estimated revenues and expenditures for the upcoming financial year. The Union Budget is presented by the Finance Minister in the Parliament, typically on February 1st. It includes allocations for various sectors, subsidies, taxation policies, and government borrowing plans. The budget plays a crucial role in shaping the economic policy and priorities of the central government and impacts the entire country's economy.
Other options :
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State Budget: Refers to the budget prepared by individual state governments.
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Annual Exposed Budget: Not a standard term in Indian financial administration.
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Revised Budget: Known as the revised estimate, it is an updated version of the original budget.