Budget Quiz | Budget Objective Type Questions and Answers

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Questions
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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