​Which year's budget was called a Black Budget in India? ​

Correct option is A

The correct answer is (A) 1973-74.

Explanation:

• The 1973-74 Budget was called the Black Budget due to the significant fiscal deficit, which was largely attributed to heavy defense spending following the India-Pakistan war of 1971 and the economic consequences of the global oil crisis.

Information Booster:

• 1973-74 Budget: Presented by Yashwantrao Chavan, Finance Minister.
• The Black Budget reflected India's economic struggles due to the 1971 India-Pakistan War and global oil price shocks.
• Defense expenditure and subsidies led to a large fiscal deficit.
• Impact: Increased borrowing and inflation, impacting the Indian economy.