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Question

Which of the following is/are functions of Department of Economic Affairs under Ministry of Finance?

1. Preparation and presentation of Union Budget

2. Preparation and presentation of Budget for state governments under President’s Rule

3. Cadre Management for Indian Economic Services

A 1, 2 and 3 Correct Answer Incorrect Answer
B 1 and 2 only Correct Answer Incorrect Answer
C 1 only Correct Answer Incorrect Answer
D 1 and 3 only Correct Answer Incorrect Answer
E 2 and 3 only Correct Answer Incorrect Answer

Solution

A principal responsibility of this Department is the preparation and presentation of the Union Budget (including Railway Budget) to the Parliament and budget for the state governments under President’s Rule and union territory administrations. Other functions include: formulation and monitoring of macroeconomic policies, including issues relating to fiscal policy and public finance, inflation, public debt management and the functioning of capital market including stock exchanges; production of bank notes and coins of various denominations, postal stationery, postal stamps; and cadre management, career planning and training of the Indian Economic Service.

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