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Which document outlines the estimated receipts and expenditures of the government for a particular fiscal year?
- a)Economic Survey
- b)Annual Financial Statement
- c)Finance Bill
- d)Monetary Policy
Correct answer is option 'B'. Can you explain this answer?
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Which document outlines the estimated receipts and expenditures of the...
Annual Financial Statement
- Definition: The Annual Financial Statement is a document that outlines the estimated receipts and expenditures of the government for a particular fiscal year.
- Importance: It provides a comprehensive overview of the government's financial plans and priorities for the upcoming year.
- Contents: The statement includes details of revenue sources, planned expenditures, deficit projections, and other financial information.
- Presentation: The Annual Financial Statement is usually presented by the Finance Minister during the budget session in the parliament.
- Approval: Once presented, the statement needs to be approved by the parliament before it can be implemented.
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Which document outlines the estimated receipts and expenditures of the government for a particular fiscal year?a)Economic Surveyb)Annual Financial Statementc)Finance Billd)Monetary PolicyCorrect answer is option 'B'. Can you explain this answer?
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