Q1) Budget is presented in the Parliament by------------------------
Prime Minister
Finance Minister
Home Minister
President of India
Answer: “2”
Q2) How many times Nirmala Sitharaman presented the budget in parliament?
5
1
3
4
Answer: “3”
Q3) Who presented India’s first-ever budget?
James Wilson
Jawaharlal Nehru
Lord Mountbatten
None of the above
Answer: “1”
Q4) Budget 2021-22 proposals to rest on six pillars. Which of the following is not among them?
Health & well being
Minimum Government, Maximum Governance
Skill development
Agricultural Development
Answer: “4”
Q5) Budget allocation for covid vaccine ?
20,000 crore
15,000 crore
35,000 crore
30,000 crore
Answer: “3”
Q6) How much amount is allocated for PM Atmanirbhar Swasth Bharat Yojana?
64,180 crore
89,634 crore
70,000 crore
65,000 crore
Answer: “1”
Q7) In Union Budget 2021, how much amount is allocated for Railways?
1,10,000 crore
3,05,000 crore
1,10,055 crore
2,37,345 crore
Answer: “3”
Q8) A national rail plan has been prepared by Indian Railways for India. The plan is to create a future-ready railway system by
2030
2027
2039
2040
Answer: “1”
Q9) How much custom duty on cotton and auto parts increased respectively?
20% & 15%
2. 10% & 25%
3. 10% & 15%
4. 22% & 28%
Answer: “3”
Q10) According to Union Budget 2021, gross borrowing from the market for the next year would be around
12 lakh crore
13 lakh crore
14 lakh crore
11 lakh crore
Answer: “1”
Q11) The forthcoming census would be the first digital census in the history of India. How much amount is allocated for this in 2021-22?
2,768 crore
2. 2,872 crore
3. 3,768 crore
4. 4,675 crore
Answer: “3”
Q12) Which company’s IPO will be launched in 2021-22 as a part of the Government’s disinvestment strategy?
IFCI
LIC
Air India
SBI
Answer: “2”
Q13) Union Budget for 2020-21 announced an increase in Foreign Direct Investment (FDI) limit in insurance from 49% to ________.
71%
2. 72%
3. 73%
4. 74%
Answer: “4”
Q14) Budget for 2021-22 announced voluntary vehicle scrapping policy to phase out old and polluting vehicles. After how many years fitness of commercial vehicles will be checked for the same?
20
10
15
12
Answer: “3”
Q15) FM Nirmala Sitharaman proposes to setup an ARC for NPA Management. What does ‘R’ refers to in ARC?
Recapitalization
Retail
Reconstruction
Reforms
Rupee-denominated
Answer: “3”
Q16) What is the disinvestment target for FY22?
1.75 lakh crore
1 lakh crore
2.1 lakh crore
1.75 lakh crore
Answer: “1”
Q17) FM Nirmala Sitharaman announced to protect whom from double taxation in Union Budget 2021?
Indian Citizens
Foreigners
NRIs
All of the above
Answer: “3”
Q18) As per the budget, central university to be set up in which of the following state/UT?
Kerala
J&K
Tamil Nadu
Ladakh
Answer: “4”
Q19) The re-opening time limit for direct tax assessment has been reduced to how many years from the current 6 years?
2 years
4 years
1 year
5 years
3 years
Answer: “5”
Q20) What is the age limit for senior citizens who are abolished from the need to file IT returns?
Above 65 years
Above 70 years
Above 60 years
Above 75 years
Above 80 years
Answer: “4”
Q21) As per the budget, which of the following has been designated as a regulator for gold exchanges?
RBI
SEBI
SIDBI
FMC
NHB
Answer: “2”
Q22) As per the budget, 1.97 lakh crore is allocated in the next 5 years for the PLI scheme in 13 sectors to create and nurture manufacturing global champions for Atmanirbhar Bharat. What does ‘L’ refers to in PLI?
Linked
Leverage
Lease
Ledger
Legal
Answer: “1”