SBI GK Questions 2026

The Nobel Prize for Literature came to him in 1913 for these verses, the citation praising their sensitive and beautiful language, and it made him the first Asian Nobel laureate.

She was born at Skopje, came to India as a nun, took Indian citizenship in 1948 and founded the Missionaries of Charity at Kolkata in 1950.

He was the first Indian and also the first person from Asia to be awarded a Nobel Prize in any category, and the prize brought Indian writing to the notice of readers across Europe.

The Nobel Prize is awarded every year in six categories: Physics, Chemistry, Physiology or Medicine, Literature, Peace and Economic Sciences.

Fiscal policy means the use of taxation, public expenditure and public borrowing to influence output, employment and prices, and all three instruments belong to the government and are given effect through the Union Budget.

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.

Nominal GDP is measured at current prices and real GDP at the prices of a base year, so the ratio between them isolates the effect of the change in prices.

The real rate of interest is the nominal rate less the rate of inflation, an approximation known as the Fisher equation.

The wholesale price index is built entirely from the prices of goods traded in bulk, and it has exactly three major groups: primary articles, fuel and power, and manufactured products, of which manufactured products carry the largest weight.

The Monetary Policy Committee set up under the amended Reserve Bank of India Act has six members.

If the inflation rate falls from seven per cent to five per cent, prices are still higher than last year but they are rising more slowly.