Economics · Fiscal Policy and Public Budgets
Consider the following statements regarding the historical evolution and characteristics of public budgets: A. The first budget of independent India was presented by R.K. Shanmukham Chetty on 26 November 1947. B. Although a balanced budget (where G = T) demonstrates fiscal discipline, it lacks a stabilisation role and can exacerbate an economic downturn if expenditure is cut during a recession. Which of the above statements is/are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Neither A nor B
- 2Both A and B✓
- 3B only
- 4A only
Correct answer
Both A and B
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