Practicing Success
Which of the following statements is correct about the two types of Budget in India? Statement A- Plan Budget is spent on routine items on a yearly basis. Statement B- Non-Plan Budget is spent on a five-year basis as per the priorities fixed by the plan. |
Only Statement A is correct. Only Statement B is correct. Both statements are correct. Both Statements are incorrect. |
Both Statements are incorrect. |
The correct answer is Option 4 - Both Statements are incorrect. Options in the Question: Option 1 - Plan Budget is spent on routine items on a yearly basis. Option 2 - Non-Plan Budget is spent on a five-year basis as per the priorities fixed by the plan. (Both of the options are incorrect. Hence, Option 4 is the correct answer.)
The concept of Five-Year Plans in India was inspired by the Soviet Union's (USSR) central planning system. Non-plan budget: Plan budget : |