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The budget is a statement of the estimated receipts and expenditure of the Government of India in a financial year. In addition to the estimates of receipts and expenditure, the budget contains certain other elements. Part B of the Budget Speech contains details of economic and financial policy of the coming year, that is, taxation proposals, prospects of revenue, spending programme and introduction of new schemes/projects. Hence Statement 1 is correct. Revenue Receipts are receipts which do not have a direct impact on the assets and liabilities of the government. It consists of the money earned by the government through tax (such as excise duty, income tax) and non-tax sources (such as dividend income, profits, interest receipts). Hence Statement 2 is correct.
Bharatanatyam and Kuchipudi dancer Yamini Krishnamurthy was awarded which of the following awards in 2016?
Where was the 12th edition of the 'Divya Kala Mela' held in 2023-2024?
Which among the following methods do most Indian households use for obtaining safe drinking water?
In which financial year India signed the Extended Fund Facility Agreement with the IMF?
Which of the following art forms of Kerala is in UNESCO’s list of the Intangible Cultural Heritage of Humanity?
What is the length of the radius of the circle that passes through the points (0, 0), (0, 3) and (2, 0)?
What is the transaction limit per transaction offered by India's first UPI ATM, launched by Hitachi Payment Services in partnership with NPCI?
Which industry uses limestone as raw material?
Where was the Urban Co-operative Bank (UCB) situated, whose license was cancelled by the Reserve Bank of India (RBI) in Dec 2023?
Which among the following schedules of the Indian Constitution contains provisions for the allocation of seats in the Council of States?