Consider the following statements:
- The Department of Economic Affairs is a nodal agency of the Government of India to formulate and monitor the country's economic policies and programmes that have a bearing on the domestic and international aspects of economic management.
- The principal responsibility of the Department of Economic Affairs is the preparation and presentation of the Union Budget (including the Railway Budget) before the Parliament, and the Budgets for Union Territories and States under the President's Rule.
Which of the statements given above is/are correct?
This questions was previously asked in
EPFO APFC 2023
Both 1 and 2
Correct AnswerNeither 1 nor 2
Incorrect AnswerExplanation:
1. The Department of Economic Affairs functions as the nodal agency responsible for formulating and monitoring India's economic policies, influencing both domestic and international economic management.
2. It is also tasked with preparing and presenting the Union Budget to Parliament and the Budgets for Union Territories and States under the President's Rule.
Answer: Option 3 - Both 1 and 2
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By: santosh