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Budget Basic Multiple Choice Question MCQ

Categories: Budget Special

1. Which of the following is related to Operation Green’ mission?


A. Production of tomato, onion and potatoes

B. Production of tomato, chilli and potatoes

C. Production of pulses, onion and potatoes

D. Production of tomato, pulses and rice

Ans: A


2.  Which of the following policy (Yojna) bring 5 lakh acres under organic farming?


A. Shyama Prasad Mukherji Rurban Mission

B. Pramaparagat Krishi Vikas Yojna

C. Pradhan Mantri Krishi Sichai Yojna

D. PM Fasal Bima Yojna

Ans: B



3. Which Bill was proposed to be passed to solve problems in infrastructure contracts, PPP and Public Utilities?


A. Skill Development Programme

B. Companies Amendment Bill

C. Public Utility Resolution of Disputes Bill

D. Goods & Services Tax

Ans: C


4. Service Tax to be exempted on general insurance schemes under which scheme:


A. Companies Amendment Bill

B. Shyama Prasad Mukherji Rurban Mission

C. Customer Act

D. NIRMAYA Scheme

Ans: D


5. Consider the following statement (s) is/are related to the annual financial statement (Budget)


I. The annual financial statement is divided into three parts, consolidated fund, contingency fund and public account.

II. All revenues raised by the government, money borrowed and receipts from loans given by the government flow into the consolidated fund of India.

III. Article 112 of the Constitution requires the government to present to Parliament a statement of estimated receipts and expenditure in respect of every financial year.


Select the correct statement (s):


A. Only I

B. Only II

C. Both I & II

D. I, II and III

Ans: D


6. Which of the following Yojna gave nominal premium and highest ever compensation in case of crop loss?


A. PM Fasal Bima Yojna

B. PM Krishi Sinchai Yojna

C. Shyama Prasad Mukherji Rurban Mission

D. Pramaparagat Krishi Vikas Yojna

Ans: A


7.  Consider the following statement (s) is/are related to the MUDRA Yojna.


I. It has been initially formed as a wholly-owned subsidiary of Small Industries Development Bank of India (SIDBI) with 100% capital being contributed by it.

II. According to this yojana, the loan is issued through a Mudra credit card with a pre-assigned credit limit and the repayment tenure is as high as 7 years.


Code:

A. Only I

B. Only II

C. Both I and II

D. Neither I nor II

Ans: C


8. Which of the following scheme is related to the management and conversion of cattle dung and solid in farms to compost, fertilizer, bio-gas and bio-CNG?


A. Galvanizing Organic Bio-Agro Resources Dhan

B. Swachchh Bharat Abhiyan

C. Pradhan Mantri Jeevan Jyoti Beema Yojna

D. Prime Minister Krishi Sinchai Yojna

Ans: A


9. Consider the following statement (s):  


I. Budget is the process of preparing business estimates

II. Budgetary control is the means to achieve performance on the basis of the budget


Which of the following statements is/are correct about budget, budgeting & budgetary control?

A. Only I

B. Only II

C. Both I and II

D. Neither I nor II

Ans: B


10. Consider the following statement (s) is/are true about budget, budgeting & budgetary control.


I. Budgetary control is a wider concept whereas Budget and budgeting are narrower concepts

II. Budget is the process of preparing business estimates.


Which of the following statements is/are correct?

A. Only I

B. Only II

C. Both I and II

D. Neither I nor II

Ans: A


11. According to the 2018-19 budget speech of Arun Jaitley, India is at third rank on the basis of what?


A. Purchasing Power Parity (PPP)

B. Gross domestic product (GDP)

C. Agricultural Prodution

D. Foreign Direct Investment (FDI)

Ans: A


12. Which of the following new restructured scheme was launched to increase the governance capabilities of PRIs?


A. National Skill Development Mission

B. PM Kaushal Vikas Yojana

C. Swaccha Bharat Abhiyaan

D. Rashtriya Gram Swaraj Abhiyan

Ans: D


13. Which of the following three public general insurance companies will be merged into a single insurance company as per Budget 2018-19?


A. UTI, Oriental Insurance and National Insurance

B. LIC, Bharti AXA and United Insurance

C. General Insurance, Max Bupa and UTI

D. Agriculture Insurance Company of India Limited, Bharti AXA and United Insurance

Ans: A


14. What do you mean by "Fiscal Federalism"?


A. It refers to the devolution of power and responsibilities of national, sub-national, and governments.

B. It refers to the financial relations between units of government in a federal government system.

C. It is the amount of money that households have available for spending and saving after income taxes have been accounted for.

D. It states that when per capita income increases above the minimum specific level, population tens to increase.

Ans: B


15.  Select the incorrect phase of the budget process in India.


A. Budget formulation: the preparation of estimates of expenditure and receipts for the ensuing financial year;

B. Budget enactment: approval of the proposed Budget by the Legislature through the enactment of Finance Bill and Appropriation Bill

C. Budget execution: enforcement of the provisions in the Finance Act and Appropriation Act by the government—a collection of receipts and making disbursements for various services as approved by the Legislature.

D. Judicial review of budget implementation: audits of government’s financial operations on behalf of the Legislature.

Ans: D


16. Which of the following component has been given the option to remain open all seven days in a week across markets?


A. Malls

B. Private Offices

C. Banks

D. Shops

Ans: D


17. Which of the following Schemes has the Objective to skill 1 crore youth in the next 3 years?


A. Startup, Standup

B. PM Kaushal Vikas Yojna

C. MGNREGA

D. Deen Dayal Upadhyay Grameen Kaushalaya Yojna

Ans: B


18. Which Cess is levied 0.5 per cent on all services?


A. Swachh Bharat

B. Krishi Kalyan

C. Kaushal Vikas

D. Both A & B

Ans: D


19.  Which of the following items become costlier after the Budget 2018-19?


A. Tobacco

B. Cigar

C. Cigarette

D. All of the above

Ans: D


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