In which of the following year was the budget system introduced for the first time in India?
James Wilson, the British economist, presented the first-ever budget in India in 1860. He is credited with introducing a financial budget in India framed by the English model.
In case a State emergency is declared, it needs Parliamentary approval after every _____.
- 6 months
- 1 year
- 2 years
- 3 years
State emergency is imposed for an initial period of six months and can last for a maximum period of three years with repeated parliamentary approval every six months.
Name the branch of astronomy that involves the origin and evolution of the universe.
- Cosmology
- Meteorology
- Petrology
- Orology
Cosmology is "the scientific study of the large-scale properties of the universe as a whole."
If there is a deadlock between Rajya Sabha and Lok Sabha over an ordinary bill, it will be resolved by
- The President
- The Council of Ministers
- The Joint Session of Parliment
- The Supreme Court
The Joint Session of Parliament resolves the deadlock between Rajya Sabha and Lok Sabha over an ordinary bill.
Who is called the father of macroeconomics?
- Alfred Marshall
- John Maynard Keynes
- Adam Smith
- Leon Walras
Macroeconomics as a modern discipline began with the publication of John Maynard Keynes's General Theory of Employment, Interest, and Money where he offered a new theory of economics that evolved into Keynesian economics.
.png)
