This quiz works best with JavaScript enabled. Home > Indian Polity > Finance > Budget > Indian Budget – Quiz 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Indian Budget Quiz 4 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. In India GST is introduced with effect from A) 1st Jan 2017. B) 1st July 2018. C) 1st July 2017. D) 1st Jan 2018. Show Answer Correct Answer: C) 1st July 2017. 2. Which out of the following is a non-developmental expenditure? A) Scientific research. B) Social Welfare. C) Administration. D) None of them. Show Answer Correct Answer: C) Administration. 3. Fiscal deficit = A) Total expenditure-total receipts other than borrowing. B) Revenue expenditure-revenue receipts. C) Capital expenditure-capital receipts. D) Fiscal deficit-interest payment. Show Answer Correct Answer: A) Total expenditure-total receipts other than borrowing. 4. What is is the deliberate attempt by RBI to keep foreign exchange rate in a desired limit is called A) Depreciation of currency. B) Appreciation of currency. C) Adjustable peg. D) Managed float. Show Answer Correct Answer: D) Managed float. 5. How many types of budget are there? ? ? A) Two types. B) Four types. C) Three types. D) None of above. Show Answer Correct Answer: C) Three types. 6. Identify the revenue receipts from the following A) Receipt from sale of shares of a public sector undertaking. B) Borrowing from public. C) Loans from the world bank. D) Interest received on loans. Show Answer Correct Answer: D) Interest received on loans. 7. An annual statement of the estimated receipts and expenditure of the government over the fiscal year is known as A) Budget. B) Income estimates. C) Account. D) Expenditure. Show Answer Correct Answer: A) Budget. 8. In India, fiscal year is the year which begins on ..... and ends on ..... of the following year. A) April 1st, March 31st. B) 1st January, 31st December. C) 1st October, 31st September. D) None of these. Show Answer Correct Answer: A) April 1st, March 31st. 9. The finance minister puts the disinvestments receipts at A) 2.25 lakh crore. B) 1.75 lakh crore. C) 1.5 lakh crore. D) None of above. Show Answer Correct Answer: B) 1.75 lakh crore. 10. Who was the first female finance minister of India? ? ? A) Nirmala Sitharaman. B) Indira Gandhi. C) Prativa Rao Patil. D) None of above. Show Answer Correct Answer: A) Nirmala Sitharaman. 11. ..... costs money A) Publicity. B) Public relations. C) Advertising. D) Salesmanship. Show Answer Correct Answer: C) Advertising. 12. In order to prevent piracy and contact theft of Bollywood films which regulation will be introduced in the Indian Cinematograph Act? A) Anti theft. B) Anti Camera. C) Anti Piracy. D) Anti-cam cord. Show Answer Correct Answer: D) Anti-cam cord. 13. Escheats are A) Revenue receipts. B) Capital receipts. C) Revenue expenditure. D) Capital expenditure. Show Answer Correct Answer: A) Revenue receipts. 14. Which of following is a direct tax? A) Income tax. B) Excise duty. C) Custom duty. D) Sale tax. Show Answer Correct Answer: A) Income tax. 15. Government budget shows a primary deficit of Rs. 6900 crore. The revenue expenditure on interest am and is Rs. 400 crore. How much is the fiscal deficit? A) Rs. 7300 crore. B) Rs. 5300 crore. C) Rs. 6700 crore. D) Rs. 5500 crore. Show Answer Correct Answer: A) Rs. 7300 crore. 16. FOLLOWING IS AN EXAMPLE OF DIRECT TAX A) GOODS AND SERVICE TAX. B) VALUE ADDED TAX. C) INCOME TAX. D) EXCISE DUTY. Show Answer Correct Answer: C) INCOME TAX. 17. The fiscal deficit for 2019-20 is estimated to be ..... per cent of the gross domestic product (GDP). A) 3.9%. B) 3.4%. C) 2.8%. D) 3.2%. Show Answer Correct Answer: B) 3.4%. 18. Progressive taxation of government doesn't include A) Higher rate of tax on high-income group. B) The poor are exempted from income tax. C) Higher rate of tax on luxury goods. D) Equal rate of tax on both rich and poor. Show Answer Correct Answer: D) Equal rate of tax on both rich and poor. 19. . What was the theme of the Union Budget 2020-21? (a)Har Nagrik Jeetega (b)Ease of Living(c)Ude Desh ka Aam Nagrik(d)Sabka Sath, Sabka Vikas aur Sabka Vishwas A) A. B) B. C) C. D) D. Show Answer Correct Answer: B) B. 20. In which of the following ways, can deficit in budget be financed? A) Borrowings from RBI. B) Borrowing from public. C) Borrowing from IMF. D) All of the above. Show Answer Correct Answer: D) All of the above. ← PreviousNext →Related QuizzesFinance QuizzesIndian Polity QuizzesIndian Budget Quiz 1Indian Budget Quiz 2Indian Budget Quiz 3Indian Budget Quiz 5Indian Budget Quiz 6Indian Budget Quiz 7Indian Budget Quiz 8Indian Budget Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books