This quiz works best with JavaScript enabled. Home > Indian Polity > Finance > Budget > Indian Budget – Quiz 10 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Indian Budget Quiz 10 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Who is the first woman to present budget in India. A) Nirmala Sitharaman. B) Sarojini Naidu. C) Indria Gandhi. D) Suchita Kripaloni. Show Answer Correct Answer: C) Indria Gandhi. 2. Capital receipts is that receipts of the Government- A) Creats a liability. B) Reduce the assets. C) Both (1) and (2). D) None. Show Answer Correct Answer: C) Both (1) and (2). 3. Which of the following is a part of the revenue expenditure in the indian government budget? A) Intreast payment. B) Defence Purchase. C) Wage bill of the Government. D) All of these. Show Answer Correct Answer: D) All of these. 4. Which scheme will set up to improve sustainable genetic upgrading of cow resources, and to enhance production and productivity of cows? A) Rashtriya Kamdhenu Aayog. B) Gaay Aayog. C) Gouseva Aayog. D) Rashtriya Gaay Aayog. Show Answer Correct Answer: A) Rashtriya Kamdhenu Aayog. 5. 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 A) I, II, III, IV, V. B) V, I, II, III. C) V, I, IV, III, II. D) V, I, III, IV, II. Show Answer Correct Answer: B) V, I, II, III. 6. Capital receipts is that receipts of the Government which: A) Creats a liability. B) Reduce the assets. C) Both (1) and (2). D) None. Show Answer Correct Answer: C) Both (1) and (2). 7. When revenue expenditure is greater than revenue receipts it is called A) Fiscal deficit. B) Primary deficit. C) Revenue deficit. D) None of these. Show Answer Correct Answer: C) Revenue deficit. 8. Which of the following statements is/are correct with reference to the Union Budget 2021-22? A) A customary Halwa ceremony is performed every year before the "lock-in" process of Budget preparation begins. B) In an unprecedented initiative, Union Budget 2021-22 will be delivered in paperless form for the first time. C) Both the of the above. D) None of above. Show Answer Correct Answer: C) Both the of the above. 9. Which of the following is not true for fiscal deficit? A fiscal deficit: A) Represents the borrowings of the government. B) Is the difference between total expenditure and total receipts of the government. C) Is the difference between total expenditure and total receipts other than borrowings. D) Increase future liability of the government. Show Answer Correct Answer: B) Is the difference between total expenditure and total receipts of the government. 10. 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: A) 1 and 2 only. B) 2 and 3 only. C) 1, 3, and 4. D) 1, 2, and 3. Show Answer Correct Answer: D) 1, 2, and 3. 11. Repayment of loan to the US government is A) Revenue receipt. B) Capital receipt. C) Revenue expenditure. D) Capital expenditure. Show Answer Correct Answer: D) Capital expenditure. 12. What is the period of a fiscal year? A) 1 April to 31 March. B) 1 January to 31 December. C) 1 March to 28 February. D) None of these. Show Answer Correct Answer: A) 1 April to 31 March. 13. 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. A) 115. B) 170. C) 112. D) 270. Show Answer Correct Answer: C) 112. 14. Who presents the Budget in the Parliament? A) Home Minister. B) Prime Minister. C) Finance Minister. D) President of India. Show Answer Correct Answer: C) Finance Minister. 15. Which of the following is a non tax eceipts? A) Gift tax. B) Sale tax. C) Donations. D) Excise duty. Show Answer Correct Answer: C) Donations. 16. 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% A) A. B) B. C) C. D) D. Show Answer Correct Answer: D) D. 17. In developing countries which type budjet that the government prepares? A) Deficit. B) Balanced. C) Surplus. D) Development. Show Answer Correct Answer: A) Deficit. 18. The expenditure which do not create assets for the government is called A) Revenue expenditure. B) Capital expenditure. C) Both (a) and (b). D) None of the above. Show Answer Correct Answer: A) Revenue expenditure. 19. Ptrogressive tax is a tax whch is- A) Charged at decreasing rate when income of individual increase. B) Charged at increaing rate when income of individual increase. C) A fixed percentage of an individual income. D) None of these. Show Answer Correct Answer: B) Charged at increaing rate when income of individual increase. 20. Interest payment are subtracted from which deficit to arrive at Primary Deficit: A) Revenue Deficit. B) Capital deficit. C) Fiscal Deficit. D) None of these. Show Answer Correct Answer: C) Fiscal Deficit. ← PreviousNext →Related QuizzesFinance QuizzesIndian Polity QuizzesIndian Budget Quiz 1Indian Budget Quiz 2Indian Budget Quiz 3Indian Budget Quiz 4Indian Budget Quiz 5Indian Budget Quiz 6Indian Budget Quiz 7Indian Budget Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books