Banking GK Questions 2026

It empowers the Lok Sabha to make a grant in advance, pending the completion of the procedure prescribed for voting the demands for grants and the passing of the Appropriation Act.

A policy cut motion asks that the amount of a demand be reduced to one rupee. The reduction is symbolic; the purpose is to record complete disapproval of the policy underlying the demand, and the member moving it may advocate an alternative policy.

The Fiscal Responsibility and Budget Management Act was passed by Parliament in 2003 and its rules were brought into force in 2004.

Primary deficit equals fiscal deficit minus interest payments. Interest is the cost of borrowings made in earlier years, so removing it leaves the borrowing that the present year's policies alone make necessary.

Fiscal deficit is total expenditure minus total receipts other than borrowings, which means it measures exactly how much the government must borrow during the year to meet its planned spending.

The Constitution nowhere uses the word budget. Article 112 requires the President to cause to be laid before both Houses of Parliament, in respect of every financial year, a statement of the estimated receipts and expenditure of the Government of India, and this statement is called the Annual Financial Statement.

The Union Budget 2021-22 proposed raising the corpus of the Contingency Fund of India from five hundred crore rupees to thirty thousand crore rupees, and the change was carried through the Finance Bill of that year.

The budget estimate for the fiscal deficit of the central government in 2021-22 was placed at 6.8 per cent of gross domestic product.

It was the first union budget in India not to be printed.

A receipt is capital if it either creates a liability for the government or reduces an asset it holds.

The Minamata Convention on Mercury was adopted in 2013 and entered into force in 2017. It controls the supply and trade of mercury, restricts its use in products such as batteries, switches and certain measuring devices, and regulates emissions from coal burning and from small-scale gold mining.

The Cartagena Protocol on Biosafety, adopted in 2000, governs the safe handling, transport and use of living modified organisms produced by modern biotechnology.

The United Nations Conference on the Human Environment met at Stockholm in June 1972 and was the first global gathering to treat the environment as a subject of international policy.

The Basel Convention was adopted in 1989 after public anger at the export of toxic waste from industrialised countries to poorer ones, and it requires prior informed consent from the importing state before such a shipment may be made.

The Paris Agreement was adopted at the twenty-first Conference of the Parties in 2015 and entered into force in 2016.

The Kyoto Protocol was adopted at the third Conference of the Parties to the framework convention on climate change, held at Kyoto in Japan in 1997.

It was agreed at Washington in 1973 and came into force in 1975.

The Montreal Protocol was adopted in 1987 under the Vienna Convention of 1985 and entered into force in 1989. It fixed timetables for phasing out chlorofluorocarbons, halons, carbon tetrachloride and other ozone depleting chemicals, with later deadlines for developing countries.

The United Nations Conference on Environment and Development, popularly called the Earth Summit, met at Rio de Janeiro in 1992 and adopted Agenda 21, a detailed non-binding programme of action for sustainable development.

The Polar Code is the International Code for Ships Operating in Polar Waters, adopted by the International Maritime Organization and in force since the beginning of 2017.