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Budget Quiz | Budget Objective Type Questions and Answers

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Free download in PDF Budget Objective Type Questions and Answers for competitive exams. These short objective type questions with answers are very important for Board exams as well as competitive exams like UPSC, SSC etc. These short solved questions or quizzes are provided by Gkseries.
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(21) Which of the following items become costlier after the Budget 2018-19?
[A] Tobacco
[B] Cigar
[C] Cigarette
[D] All of the above
Answer: All of the above
(22) How many rural people are made are digitally literate under the Gramin Digital Saksharta Abhiyan?
[A] 1 crore
[B] 2 crore
[C] 4 crore
[D] 5 crore
Answer: 2 crore

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(23) How much amount has been earmarked in budget 2019-20 for creating world class educational institutions?
[A] Rs 100 crore
[B] Rs 200 crore
[C] Rs 300 crore
[D] Rs 400 crore
Answer: Rs 400 crore
(24) Which Cess is levied 0.5 per cent on all services?
[A] Swachh Bharat
[B] Krishi Kalyan
[C] Kaushal Vikas
[D] Both A & B
Answer: Both A & B
(25) Which of the following Schemes has Objective to skill 1 crore youth in the next 3 years?
[A] Startup, Standup
[B] PM Kaushal Vikas Yojna
[C] MNREGA
[D] Deen Dayal Upadhyaay Grameen Kaushalaya Yojna
Answer: PM Kaushal Vikas Yojna
(26) In budget 2019-20, the government set the target to distribute....... LPG connections under the Ujjawala Yojna.
[A] 6 cr
[B] 10 cr
[C] 5 cr
[D] 8 cr
Answer: 8 cr
(27) What is the target (in terms of GDP) of Fiscal Deficit for FY 2019-20?
[A] 3.1%
[B] 3.5%
[C] 3.4%
[D] 4.4%
Answer: 3.4%
(28) What is the biggest item of income of the central government in 2019-20 budget?
[A] Goods and Service Tax
[B] Corporation tax
[C] Borrowings and other liabilities
[D] a and b both are equal
Answer: a and b both are equal
(29) How much cess is imposed currently by the Central Government?
[A] 4%
[B] 3.5%
[C] 3%
[D] 0.5%
Answer: 4%
(30) Which of the following statement is correct about Budget? I. It is a statement of financial position for a future period, setting out proposed expenditure and means of financing it. II. Article 111 of the Constitution requires the government to present to Parliament a statement of estimated receipts and expenditure in respect of every financial year. Select correct one:
[A] Only I
[B] Only II
[C] Both I & II
[D] Neither I nor II
Answer: Only I
31 Which of the following policy (Yojna) bring 5 lakh acres under organic farming?
[A] Shyama Prasad Mukherji Rurban Mission
[B] Pramaparagat Krishi Vikas Yojna
[C] Pradhan Mantri Krishi Sichai Yojna
[D] PM Fasal Bima Yojna
Answer: Pramaparagat Krishi Vikas Yojna
32 Which Bill was proposed to be passing to solve problems in infrastructure contracts, PPP and Public Utilities?
[A] Skill Development Programme
[B] Companies Amendment Bill
[C] Public Utility Resolution of Disputes Bill
[D] Goods & Services Tax
Answer: Public Utility Resolution of Disputes Bill
33 Consider the following statement (s) is/are related to the MUDRA Yojna.

I. It has been initially formed as a wholly owned subsidiary of Small Industries Development bank of India (SIDBI) with 100% capital being contributed by it.

II. According to this joyna, loan is issued through Mudra credit card with a pre-assigned credit limit and the repayment tenure is as high as 7 years. Code:

[A] Only I
[B] Only II
[C] Both I and II
[D] Neither I nor II
Answer: Both I and II
34 Consider the following statement (s):

I. Budget is the process of preparing business estimates

II. Budgetary control is the means to achieve performance on the basis of budget

Which of the following statements is/are correct about budget, budgeting & budgetary control?

[A] Only I
[B] Only II
[C] Both I and II
[D] Neither I nor II
Answer: Only II
35 According to the 2018-19 budget speech of Arun Jaitley, India is at third rank on the basis of what?
[A] Purchasing Power Parity (PPP)
[B] Gross domestic product (GDP)
[C] Agricultural Prodution
[D] Foreign Direct Investment (FDI)
Answer: Purchasing Power Parity (PPP)
36 Which of the following new restructured scheme was launched to increase the governance capabilities of PRIs?
[A] National Skill Development Mission
[B] PM Kaushal Vikas Yojana
[C] Swaccha Bharat Abhiyaan
[D] Rashtriya Gram Swaraj Abhiyan
Answer: Rashtriya Gram Swaraj Abhiyan
37 Which of the following component has been given option to remain open all seven days in a week across markets?
[A] Malls
[B] Private Offices
[C] Banks
[D] Shops
Answer: Shops
38 Which of the following social campaign of the Government of India that aims to generate awareness and improve the efficiency of welfare services intended for girls?
[A] Beti Bachao, Beti Padhao
[B] Gender sensitisation
[C] Ladli
[D] Swachchha Bharat Mission
Answer: Beti Bachao, Beti Padhao
39 Which of the following three public general insurance companies will be merged into single insurance company as per Budget 2018-19?
[A] UTI, Oriental Insurance and National Insurance
[B] LIC, Bharti AXA and United Insurance
[C] General Insurance, Max Bupa and UTI
[D] Agriculture insurance Company of India Limited, Bharti AXA and United Insurance
Answer: UTI, Oriental Insurance and National Insurance
40 What do you mean by "Fiscal Federalism"?
[A] It refers to the devolution of power and responsibilties of national, sub-national, and governments
[B] It refers to the financial relations between units of governments in a federal government system
[C] It is the amount of money that households have availalbe for spending and saving after income taxes have been accounted for
[D] It states that when per capita income increases above the minimum specific level, population tens to increase
Answer: It refers to the financial relations between units of governments in a federal government system

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