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Indian Budget Quiz 4 (60 MCQs)

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1. Arrange the following stages in the enactment of budget in proper order:I. General discussionII. Appropriation Bill III. Finance Bill IV. Voting of the demands for grant V. Presentation to legislature
2. When revenue expenditure is greater than revenue receipts it is called
3. Which of the following statements is/are correct with reference to the Union Budget 2021-22?
4. Which of the following is not true for fiscal deficit? A fiscal deficit:
5. Which of the following is/are included in the capital budget of the Government of India? 1. Expenditure on acquisition of fighter aircraft2. Financial assistance received from the World Bank3. Loans made to foreign governments4. Grants given to states and union territories every yearSelect the correct answer using the codes given below:
6. Repayment of loan to the US government is
7. What is the period of a fiscal year?
8. According to Article ..... of the Indian Constitution, the Union Budget of a year, also referred to as the annual financial statement, is a statement of the estimated receipts and expenditure of the government for that particular year.
9. Who presents the Budget in the Parliament?
10. Which of the following is a non tax eceipts?
11. Which of the following is not the rate of tax slab in the Union Budget 2020-21? (a) 10%(b) 15%(c) 25%(d) 40%
12. In developing countries which type budjet that the government prepares?
13. The expenditure which do not create assets for the government is called
14. Ptrogressive tax is a tax whch is-
15. Interest payment are subtracted from which deficit to arrive at Primary Deficit:
16. How much amount has allocated for Railways in union budget 2019-20?
17. ..... advertising looks at consumers as a heterogeneous group
18. We actively foster a culture of mutual trust in our interactions with our stake holders and encourage an open dialogue which ensures mutual respect:
19. Which of the fololowing are the objective of government budget?
20. ..... test is based on the memory of the respondent
21. In ..... method of percentage of the price per unit of items sold is allocated to advertising
22. Fill in the blankFiscal deficit-Primary deficit =
23. ..... is the expenditure which is related to some specified plan for the year.
24. Revenue expenditure
25. The number of operational airports has crossed 100 with the commissioning of the latest airport in which state?
26. Which statement(s) is/are correct regarding revenue receipts?
27. What is the biggest source of Income for the Central Government in the Union Budget 2020-21? (a)Goods and Services Tax(b)Corporation Tax(c)Income Tax (d) Borrowings and other liabilities
28. Who approves the budget once its prepared
29. Identify which of the following statement is true?
30. A compulsory payment by citizens to the government without expecting any direct benefit is called
31. Fiscal deficit is equal to
32. Who is the father of tax? ? ?
33. According to RBI, Since Independence in 1947, India has faced four recession, which of the following were the reasons of recession in India. 1.Balance payment 2.Energy Crises 3.Drought 4.Oil shock
34. Which one of the following is not an objective of government budget?
35. Income tax refunds will be processed within ..... hours and released immediately?
36. The government borrows money from RBI or directs to print additional currency to cover up
37. Recovery of loan is:
38. Following is the feature of direct taxes
39. Previously one dollar was equal to 69 rupees, now the value of one dollar is equal to 85 rupees. What happens to value of rupee
40. A performance budget is one that reflects ..... for each unit of an organization.
41. Which country first introduced Budget? ? ?
42. Under the Union Government's new scheme for the farmers, how much direct income support will be provided in a year?
43. What is the target (in terms of GDP) of Fiscal Deficit for FY 2019-20?
44. Our primary focus is delivering value of the highest standard to our stake holders:
45. Assertion:Highway and roads are announced in Kerala, Tamil Nadu and West Bengal in Budget, 2021.Reason:Such announcements will increase the revenue expenditure of the Government.
46. When any commercial bank is unable to meet financial obligation then it approaches Central Bank for financial accommodation this function of Central Bank is called
47. Progressive tax is a tex which is .....
48. Which of the following is a capital receipt
49. An expenditure the benefit of which is enjoyed for more than one financial year is known as:
50. Revenue earned by government from the property without any legal heir is called;
51. What does M in M Banking stands for.
52. Measuring advertising effectiveness is the process of ..... ad campaigns
53. Which of the following are objectives of budget?
54. Tax collected is
55. The Union Budget 2020-21 aims:-I. To achieve seamless delivery through digital governanceII. To improve the physical quality of life through national infrastructure pipeline(a) Only I(b)Only I, II(c) Only II(d)Neither I or II
56. Union Budget keeps the account of the government's finances for the fiscal year that runs from .....
57. Who presented India's first-ever Budget?
58. According to Economics Survey of 2016-17, which state had the highest growth of Gross State Domestic Product(GSDP)
59. India is the fastest highway developer in the whole world, how many km of highways are getting built each day?
60. Which of the following is not non tax revenue receipts of government?
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