This quiz works best with JavaScript enabled. Home > Indian Polity > Finance > Budget > Indian Budget – Quiz 8 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Indian Budget Quiz 8 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The correct group of direct tax is A) Personal income tax, corporate tax, wealth tax and stamp duty. B) Corporate tax, wealth tax, personal income tax and export import tax. C) Export import tax, GST, corporate tax and VAT. D) Corporate tax, export-import tax, GST and wealth Tax. Show Answer Correct Answer: A) Personal income tax, corporate tax, wealth tax and stamp duty. 2. When budget receipts are greater than budget expenditure such type of budget is called: A) Balanced budget. B) Deficit budget. C) Surplus budget. D) None of these. Show Answer Correct Answer: C) Surplus budget. 3. For how long was the budget presented in two parts A) 92 years. B) 76 years. C) 54 years. D) 32 years. Show Answer Correct Answer: A) 92 years. 4. Which one of the following is wrong about central budjet in India? A) Budget for next financial year is prepared during the current year itself. B) Parliament approves the central budget. C) Prime minister presents the Budget in Loksabha. D) Government should get the approval of parliament to the Budget before 31st of March. Show Answer Correct Answer: C) Prime minister presents the Budget in Loksabha. 5. The difference between fiscal deficit and interest payment is called: A) Revenue deficit. B) Primary deficit. C) Budget deficit. D) Capital deficit. Show Answer Correct Answer: B) Primary deficit. 6. Who introduced the farmers Empowerment and Protection Bill 2020 and Farmers produce Trade and Commerce Bill 2020 in the Indian Parliament. A) Amit Shah. B) Kailash Chaudary. C) Narendra Singh Tomar. D) Smriti irani. Show Answer Correct Answer: C) Narendra Singh Tomar. 7. As per the Interim Budget 2019-20, how much amount has been allocated for the Mahatma Gandhi National Rural Employment Gurantee Act (MGNREGA)? A) Rs 19000 crore. B) Rs 24000 crore. C) Rs 48000 crore. D) Rs 60000 crore. Show Answer Correct Answer: D) Rs 60000 crore. 8. Who is the woman minister of India? ? ? A) Indira Gandhi. B) Smriti Irani. C) Gowry Amma. D) None of above. Show Answer Correct Answer: B) Smriti Irani. 9. What is the disinvestment target for 2020-21? (a)Rs 1, 73, 000 crore(b)Rs 2, 10, 000 crore(c)Rs 65, 000 crore(d) Rs 1, 05, 000 core A) A. B) B. C) C. D) D. Show Answer Correct Answer: B) B. 10. Interim Finance Minister Piyush Goyal has allocated ..... crore for a key scheme aimed at the rural poor MGNREGA for fiscal year 2018-19. A) Rs 70, 000 crore. B) Rs 60, 000 crore. C) Rs 30, 000 crore. D) Rs 55, 000 crore. Show Answer Correct Answer: B) Rs 60, 000 crore. 11. Disinvestment by government means A) Selling of fixed capital assets. B) Selling of shares of public enterprises held by it. C) Selling of its building. D) All of the above. Show Answer Correct Answer: B) Selling of shares of public enterprises held by it. 12. Difference between fiscal deficit and intrest payment is called- A) Revenue deficit. B) Fiscal deficit. C) Primary deficit. D) None of the above. Show Answer Correct Answer: C) Primary deficit. 13. Post testing finds out ..... coverage A) Readership. B) Exposure. C) Presentation. D) None of above. Show Answer Correct Answer: A) Readership. 14. Fiscal deficit= budget expenditure ..... A) Budget receipts other than borrowings. B) Disinvestment. C) Sales tax. D) Custom duty. Show Answer Correct Answer: A) Budget receipts other than borrowings. 15. Capital Budget is divided into A) 2 parts. B) 3 parts. C) 4 parts. D) None of the above. Show Answer Correct Answer: A) 2 parts. 16. The government aspires to make India a Ten Trillion Dollar Economy in how many years? A) 13 years. B) 5 years. C) 8 years. D) 10 years. Show Answer Correct Answer: A) 13 years. 17. ..... testing is related to big ideas A) Pre. B) Post. C) Copy. D) Concept. Show Answer Correct Answer: D) Concept. 18. As per the Union Budget, 2020-21, what is the highest rate of Direct Tax in India? (a)20%(b)35%(c) 30%(d) 40% A) A. B) B. C) C. D) D. Show Answer Correct Answer: C) C. 19. Where is the Budget introduced in India every year? A) Rajya Sabha. B) Lok Sabha. C) Joint session. D) Rashtrapati Bhawan. Show Answer Correct Answer: B) Lok Sabha. 20. Identify capital receipt from the following A) Post office deposits. B) Recovery of loans. C) Disinvestment. 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 4Indian Budget Quiz 5Indian Budget Quiz 6Indian Budget Quiz 7Indian Budget Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books