2023 · Q78
Consider the following statements:
- 1The Department of Economic Affairs is a nodal agency of the Government of India to formulate and monitor the country's economic policies and programmes that have a bearing on the domestic and international aspects of economic management.
- 2The principal responsibility of the Department of Economic Affairs is the preparation and presentation of the Union Budget (including the Railway Budget) before the Parliament, and the Budgets for Union Territories and States under the President's Rule.
Which of the statements given above is/are correct?
Indian EconomyGrowth and sectors
- A1 only
- B2 only
- CBoth 1 and 2
- DNeither 1 nor 2
Explanation
The Department of Economic Affairs is the nodal agency for formulating and monitoring the country's economic policies with domestic and international bearing (statement 1), and its principal responsibility includes preparing and presenting the Union Budget, and the budgets of Union Territories and States under President's Rule, before Parliament (statement 2). Both reflect its official mandate. Hence C.