UPSC Exam > UPSC Notes > Indian Economy for UPSC CSE > GS3 PYQ (Mains Answer Writing): Budget
GS3 PYQ (Mains Answer Writing): Budget | Indian Economy for UPSC CSE PDF Download
Distinguish between Capital Budget and Revenue Budget. Explain the components of both these Budgets (UPSC GS3 Mains)
Introduction
According to Article 112 of the Indian Constitution, the Union Budget of a year is referred to as the Annual Financial Statement (AFS). It is a statement of the estimated receipts and expenditure of the Government in a financial year (which begins on 01 April of the current year and ends on 31 March of the following year).
Objectives of Budget:
- Reallocation of resources
- Reducing inequalities in income and wealth
- Contributing to economic growth
- Bringing economic stability
- Managing public enterprises
Components of government budgets:
TOPICS covered - revenue and capital expenditure
The document GS3 PYQ (Mains Answer Writing): Budget | Indian Economy for UPSC CSE is a part of the UPSC Course Indian Economy for UPSC CSE.
All you need of UPSC at this link: UPSC
|
140 videos|315 docs|136 tests
|
FAQs on GS3 PYQ (Mains Answer Writing): Budget - Indian Economy for UPSC CSE
| 1. What is the Union Budget and why is it important for the UPSC exam? |  |
Ans. The Union Budget is an annual financial statement presented by the Government of India, detailing its revenue and expenditure for the upcoming fiscal year. It is important for the UPSC exam as it covers important aspects of economic policy, government schemes, and fiscal management, which are relevant for the General Studies paper.
| 2. How is the Union Budget prepared and what is the role of the Finance Ministry? | |
Ans. The Union Budget is prepared through a consultative process involving various ministries, departments, and stakeholders. The Finance Ministry plays a key role in the preparation, as it collects inputs from different sectors, examines the budget proposals, and coordinates with other ministries to finalize the budget. The Finance Minister presents the budget in the Parliament.
| 3. What are the key components of the Union Budget and how do they impact the economy? | |
Ans. The key components of the Union Budget include revenue receipts, capital receipts, revenue expenditure, and capital expenditure. Revenue receipts are the government's earnings through taxes, duties, and other sources, while capital receipts include borrowings and disinvestment proceeds. Revenue expenditure pertains to regular expenses like salaries, subsidies, and interest payments, while capital expenditure focuses on infrastructure development and asset creation. These components impact the economy by influencing fiscal deficit, public debt, investment patterns, and overall economic growth.
| 4. How does the Union Budget affect the common man and various sectors of the economy? | |
Ans. The Union Budget directly affects the common man through changes in income tax slabs, indirect taxes, and allocation of funds for welfare schemes. It also impacts different sectors of the economy by allocating resources, providing incentives, and introducing policy reforms. For example, the budget may increase spending on healthcare, education, or infrastructure, which can have a positive impact on the respective sectors.
| 5. What are some key highlights of the Union Budget 2021 and their implications? | |
Ans. The Union Budget 2021 focused on reviving the economy post the COVID-19 pandemic. Some key highlights include an increased allocation for healthcare, infrastructure development, and rural development. It also introduced a new tax regime, aimed at simplifying income tax calculations for individuals. The budget's implications include boosting healthcare infrastructure, promoting sustainable development, and providing relief to individuals through tax reforms.
Related Exams
About this Document
|
1.1K Views |
|
4.71/5 Rating |
|
Oct 25, 2024 Last updated |
Document Description: GS3 PYQ (Mains Answer Writing): Budget for UPSC 2024 is part of Indian Economy for UPSC CSE preparation.
The notes and questions for GS3 PYQ (Mains Answer Writing): Budget have been prepared according to the UPSC exam syllabus. Information about GS3 PYQ (Mains Answer Writing): Budget covers topics
like and GS3 PYQ (Mains Answer Writing): Budget Example, for UPSC 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for GS3 PYQ (Mains Answer Writing): Budget.
Introduction of GS3 PYQ (Mains Answer Writing): Budget in English is available as part of our Indian Economy for UPSC CSE
for UPSC & GS3 PYQ (Mains Answer Writing): Budget in Hindi for Indian Economy for UPSC CSE course.
Download more important topics related with notes, lectures and mock test series for UPSC
Exam by signing up for free. UPSC: GS3 PYQ (Mains Answer Writing): Budget | Indian Economy for UPSC CSE
Description
Full syllabus notes, lecture & questions for GS3 PYQ (Mains Answer Writing): Budget | Indian Economy for UPSC CSE - UPSC | Plus excerises question with solution to help you revise complete syllabus for Indian Economy for UPSC CSE | Best notes, free PDF download
Information about GS3 PYQ (Mains Answer Writing): Budget
In this doc you can find the meaning of GS3 PYQ (Mains Answer Writing): Budget defined & explained in the simplest way possible. Besides explaining types of
GS3 PYQ (Mains Answer Writing): Budget theory, EduRev gives you an ample number of questions to practice GS3 PYQ (Mains Answer Writing): Budget tests, examples and also practice UPSC
tests
|
Explore Courses for UPSC exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Semester Notes
,mock tests for examination
,Previous Year Questions with Solutions
,video lectures
,ppt
,Viva Questions
,MCQs
,practice quizzes
,Sample Paper
,GS3 PYQ (Mains Answer Writing): Budget | Indian Economy for UPSC CSE
,Exam
,GS3 PYQ (Mains Answer Writing): Budget | Indian Economy for UPSC CSE
,Extra Questions
,past year papers
,study material
,Important questions
,GS3 PYQ (Mains Answer Writing): Budget | Indian Economy for UPSC CSE
,shortcuts and tricks
,Free
,Summary
,Objective type Questions
;
Additional Information about GS3 PYQ (Mains Answer Writing): Budget for UPSC Preparation
GS3 PYQ (Mains Answer Writing): Budget Free PDF Download
The GS3 PYQ (Mains Answer Writing): Budget is an invaluable resource that delves deep into the core of the UPSC exam.
These study notes are curated by experts and cover all the essential topics and concepts, making your preparation more efficient and effective.
With the help of these notes, you can grasp complex subjects quickly, revise important points easily,
and reinforce your understanding of key concepts. The study notes are presented in a concise and easy-to-understand manner,
allowing you to optimize your learning process. Whether you're looking for best-recommended books, sample papers, study material,
or toppers' notes, this PDF has got you covered. Download the GS3 PYQ (Mains Answer Writing): Budget now and kickstart your journey towards success in the UPSC exam.
Importance of GS3 PYQ (Mains Answer Writing): Budget
The importance of GS3 PYQ (Mains Answer Writing): Budget cannot be overstated, especially for UPSC aspirants.
This document holds the key to success in the UPSC exam.
It offers a detailed understanding of the concept, providing invaluable insights into the topic.
By knowing the concepts well in advance, students can plan their preparation effectively.
Utilize this indispensable guide for a well-rounded preparation and achieve your desired results.
GS3 PYQ (Mains Answer Writing): Budget Notes
GS3 PYQ (Mains Answer Writing): Budget Notes offer in-depth insights into the specific topic to help you master it with ease.
This comprehensive document covers all aspects related to GS3 PYQ (Mains Answer Writing): Budget.
It includes detailed information about the exam syllabus, recommended books, and study materials for a well-rounded preparation.
Practice papers and question papers enable you to assess your progress effectively.
Additionally, the paper analysis provides valuable tips for tackling the exam strategically.
Access to Toppers' notes gives you an edge in understanding complex concepts.
Whether you're a beginner or aiming for advanced proficiency, GS3 PYQ (Mains Answer Writing): Budget Notes on EduRev are your ultimate resource for success.
GS3 PYQ (Mains Answer Writing): Budget UPSC Questions
The "GS3 PYQ (Mains Answer Writing): Budget UPSC Questions" guide is a valuable resource for all aspiring students preparing for the
UPSC exam. It focuses on providing a wide range of practice questions to help students gauge
their understanding of the exam topics. These questions cover the entire syllabus, ensuring comprehensive preparation.
The guide includes previous years' question papers for students to familiarize themselves with the exam's format and difficulty level.
Additionally, it offers subject-specific question banks, allowing students to focus on weak areas and improve their performance.
Study GS3 PYQ (Mains Answer Writing): Budget on the App
Students of UPSC can study GS3 PYQ (Mains Answer Writing): Budget alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the GS3 PYQ (Mains Answer Writing): Budget,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of GS3 PYQ (Mains Answer Writing): Budget is prepared as per the latest UPSC syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup