General Awareness Quiz on Union Budget- 29th November 2020

Q1.Union budget is presented by-
(a)RBI Governor
(b)Prime Minister
(c)President
(d)Finance Minister
(e)Home Affairs Minister

Q2.The Union Budget is also known as the-
(a)Commercial Paper
(b)Money Market Instrument
(c)Annual Financial Statement
(d)Capital Market Instrument
(e)Financial Instrument

Q3.Union budget comes under which article?
(a)Article 111
(b)Article 112
(c)Article 113
(d)Article 114
(e)Article 115

Q4.The Budget has to be passed by the ___________ before it can come into effect-
(a)Lok Sabha
(b)Rajya Sabha
(c)Ministry of Finance
(d)Reserve Bank of India
(e)Vidhan Sabha

Q5.The Union Budget is divided into-
(a)Incremental Budget and Activity based Budget
(b)Balance of Payment and Balance of Trade
(c)Revenue Budget and Capital Budget
(d)Value proposition budgeting and Zero-based budgeting
(e)Activity based Budget and Zero-based budgeting

Q6.India is now the ______ largest economy of the world-
(a)Second
(b)Third
(c)Fourrth
(d)Fifth
(e)Sixth

Q7.What is/are the aim of the union budget?
(a)To achieve seamless delivery of services through Digital governance.
(b)To improve physical quality of life through National Infrastructure Pipeline.
(c)Risk mitigation through Disaster Resilience.
(d)Social security through Pension and Insurance penetration.
(e)All of the above

Q8.The Overall theme of the budget 2020-21 is-
(a)Financial statment
(b)Aspire India
(c)Ease of Living
(d)Care for Youth
(e)Women Empowerment

Q9.TB Harega Desh Jeetega campaign launched to eliminate tuberculosis by –
(a)2025
(b)2030
(c)2035
(d)2040
(e)2045

Q10.Under Jal Jeevan Mission _________ amount is allocated for the year 2020-21-
(a)Rs. 7,500 Cr
(b)Rs. 11,500 Cr
(c)Rs. 15,500 Cr
(d)Rs. 17,500 Cr
(e)Rs. 20,500 Cr

Q11.As per the Union Budget, 2020-21, which is Not rate of Income Tax in India?
(a)10%
(b)15%
(c)25%
(d)35%
(e)30%

Q12.Which scheme is related to Direct tax according to union budget 2020-21?
(a)Paisa sabka
(b)Tax for All
(c)Vishwas sabka
(d)Vivad se Vishwas
(e)None of the above

Q13.Under union budget 2020-21, govt has announced Fiber to the Home (FTTH) connections through BharatNet to link _________ gram panchayats this year-
(a)100
(b)1000
(c)10,000
(d)50,000
(e)1,00,000

Q14.Which of the following site will be developed as iconic sites with on-site museums, as announced under Union Budget 2020-21?
(a)Rakhigarhi (Haryana)
(b)Hastinapur (Uttar Pradesh)
(c)Shivsagar (Assam)
(d)Dholavira (Gujarat)
(e)All of the above

Q15.Under union budget 2020-21 govt has announced the merger of 10 PSBs into 4 and has infused a capital of-
(a)Rs.350000 Cr.
(b)Rs.450000 Cr.
(c)Rs.550000 Cr.
(d)Rs.650000 Cr.
(e)Rs.750000 Cr.

Solutions

S1.Ans.(d)
Sol.The Union Budget is presented by the Union Finance Minister

S2.Ans.(c)
Sol.The Union Budget is also known as the Annual Financial Statement.

S3.Ans.(b)
Sol.Union budget comes under Article 112.

S4.Ans.(a)
Sol.The Budget has to be passed by the Lok Sabha before it can come into effect.

S5.Ans.(c)
Sol.The Union Budget is divided into Revenue Budget and Capital Budget.

S6.Ans.(d)
Sol.India is now the fifth largest economy of the world.

S7.Ans.(e)
Sol.Aims of the union budget are-
(a)To achieve seamless delivery of services through Digital governance.
(b)To improve physical quality of life through National Infrastructure Pipeline.
(c)Risk mitigation through Disaster Resilience.
(d)Social security through Pension and Insurance penetration.

S8.Ans.(c)
Sol.The Overall theme of the budget 2020-21 is Ease of Living.

S9.Ans.(a)
Sol.TB Harega Desh Jeetega campaign launched to eliminate tuberculosis by 2025.

S10.Ans.(b)
Sol.Under Jal Jeevan Mission Rs. 11,500 Cr allocated for the year 2020-21.

S11.Ans.(d)
Sol.As per the Union Budget, rates of Income Tax in India are-
(a)10%
(b)15%
(c)20%
(d)25%
(e)30%

S12.Ans.(d)
Sol.The scheme related to Direct tax according to union budget 2020-21 is “Vivad se Vishwas”.

S13.Ans.(e)
Sol.Fiber to the Home (FTTH) connections through BharatNet to link 100000 gram panchayats this year.

S14.Ans.(e)
Sol.5 sites will be developed as iconic sites with on-site museums
1-Rakhigarhi (Haryana)
2-Hastinapur (Uttar Pradesh)
3-Shivsagar (Assam)
4-Dholavira (Gujarat)
5-Adichanallur (Tamil Nadu)

S15.Ans.(a)
Sol.Govt has announced merge of 10 PSBs into 4 and has infused a capital of Rs.350000 Cr.

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