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SSC MTS 2022 PYQ — Question 49

SSC MTS - 20 July 2022 - Shift 3 • General Awareness • Q49

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The government budget gives a statement of the ______.

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Correct answer: A

Explanation

The correct answer is option 1 i.e. receipts and expenditure of the government.

  • The government budget is a document prepared by the government and/or other political entity presenting its anticipated tax revenues (Inheritance tax, income tax, corporation tax, import taxes) and proposed spending/expenditure (Healthcare, Education, Defence, Roads, State Benefit) for the coming financial year.
  • According to Article 112 of the Indian Constitution, the Union Budget of a year, also referred to as the annual financial statement,  it is a statement of the estimated receipts and expenditure of the government for that particular year.