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Union Budget > 2023-24 > Flashcards

2023-24 Flashcards

1
Q

Q1. Union Finance Minister, Nirmala Sitharaman is presenting the Union Budget 2023 for the __ time in a row.
(a) 10th
(b) 4th
(c) 3rd
(d) 5th
(e) 6th

A

D

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2
Q

Q2. The Budget 2023 focuses on _ priorities, which the FM called the “Saptrishis guiding us through Amrit Kaal”.
(a) Fifth
(b) Sixth
(c) Seven
(d) Eigth
(e) Nine

A

C

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3
Q

Q3. When was the first Union Budget of India presented?
(a) 1947
(b) 1948
(c) 1949
(d) 1950
(e) 1951

A

S3. Ans.(a)
Sol. The first Finance Minister of independent India was R. K. Shanmukham Chetty. He presented the first Union budget of India on 26 Nov.1947. The first mini-budget was presented by T. T. Krishnamachari on November 30, 1956.

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4
Q

Q4. What time is the Union Budget presented?
(a) 9 AM
(b) 11 AM
(c) 12 PM
(d) 1 PM
(e) 2 PM

A

B

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5
Q

Q5. What is the current year’s economic growth is estimated at the Union budget 2023?
(a) 4%
(b) 8%
(c) 7%
(d) 6%
(e) 9%

A

C

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6
Q

Q6. What is the maximum deposit limit for Senior Citizen Savings Scheme will be enhanced from?
(a) 05 lakh to 30 lakh
(b) 10 lakh to 30 lakh
(c) 15 lakh to 30 lakh
(d) 20 lakh to 30 lakh
(e) 25 lakh to 30 lakh

A

C

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7
Q

Q7. The outlay for Pradhan Mantri Awas Yojana is being enhanced by 66% to over _.
(a) ₹39,000 cr
(b) ₹49,000 cr
(c) ₹59,000 cr
(d) ₹69,000 cr
(e) ₹79,000 cr

A

E

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8
Q

Q8. What is the rate of tax for Income tax slab between the income of Rs 3 Lakh to Rs 6 Lakh for assessment year 2023-24?
(a) 5%
(b) 10%
(c) 15%
(d) 20%
(e) 30%

A

A

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9
Q

Q9. “Bharat SHRI” will be set up in a digital epigraphy museum, with digitization of one lakh ancient inscriptions in the first stage. What does “I” stand for SHRI?
(a) India
(b) Intrapictures
(c) Inscriptions
(d) Industries
(e) Indicator

A

S9. Ans.(c)
Sol. ‘Bharat Shared Repository of Inscriptions’ will be set up in a digital epigraphy museum, with digitization of one lakh ancient inscriptions in the first stage.

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10
Q

Q10. Where is the budget presented by the Government?
(a) Lok Sabha
(b) Rajya Sabha
(c) Krishi Bhawan
(d) North Bhawan
(e) President House

A

S10. Ans.(a)
Sol. According to the Constitution of India’s Article 110, a Finance Bill is a Money Bill which is presented only in the Lok Sabha or the lower house of the Parliament.

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11
Q

Q11. What is the rate of tax for Income tax slab between the income of Rs 9 Lakh to Rs 12 Lakh for assessment year 2023-24?
(a) 5%
(b) 10%
(c) 15%
(d) 20%
(e) 30%

A

C

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12
Q

Q12. What is the capital outlay has been provided for the Railways in the Union Budget 2023-24?
(a) 1.40 lakh crore
(b) 2.40 lakh crore
(c) 3.40 lakh crore
(d) 4.40 lakh crore
(e) 5.40 lakh crore

A

B

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13
Q

Q13. The finance minister proposed to reduce the highest surcharge rate from 37 per cent to __ in the new tax regime.
(a) 15 per cent
(b) 25 per cent
(c) 35 per cent
(d) 45 per cent
(e) 55 per cent

A

B

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14
Q

Q14. Finance Minister Nirmala Sitharaman presented Union Budget on February 1, 2023. In the 2023 Budget speech, Sitharaman spoke for __.
(a) 1 hour and 44 minutes
(b) 1 hour and 45 minutes
(c) 2 hours and 42 minutes
(d) 1 hour and 25 minutes
(e) 2 hours and 10 minutes

A

D

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15
Q

Q15. In the which year, Finance Minister Nirmala Sitharaman replaced the Budget briefcase with the traditional ‘Bahi Khata’ having the National Emblem?
(a) 2015
(b) 2016
(c) 2017
(d) 2018
(e) 2019

A

E

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16
Q

Q16. The Centre has pegged the fiscal deficit _ of GDP for FY24.
(a) 3.9 percent
(b) 4.3 percent
(c) 5.9 percent
(d) 6.6 percent
(e) 7.9 percent

A

C

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17
Q

Q17. What is the budget allocated for National Green Hydrogen Mission to shift low-carbon economy and reduce reliance on fossil fuel?
(a) Rs 15,700 crore
(b) Rs 16,700 crore
(c) Rs 17,700 crore
(d) Rs 18,700 crore
(e) Rs 19,700 crore

A

E

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18
Q

Q18. The defence budget was increased to __ crore for 2023-24 from last year’s allocation of ₹5.25 lakh crore.
(a) ₹5.94 lakh
(b) ₹5.90 lakh
(c) ₹5.66 lakh
(d) ₹5.70 lakh
(e) ₹5.75 lakh

A

A

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19
Q

Q19. Which country first introduced budget?
(a) Australia
(b) England
(c) USA
(d) China
(e) India

A

S19. Ans.(b)
Sol. England was the highest country in the world to establish a modern government budget. After the triumph of the bourgeois revolution in 1640, England, as a parliamentary monarchy, had all of its financial powers controlled by Parliament.

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20
Q

Q20. According to which article of the Indian Constitution, the Union Budget of a year is referred to as the Annual Financial Statement?
(a) Article 108
(b) Article 101
(c) Article 115
(d) Article 113
(e) Article 112

A

S20. Ans.(e)
Sol. According to Article 112 of the Indian Constitution, the Union Budget of a year is referred to as the Annual Financial Statement (AFS).

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20
Q

Q21. The Total Expenditure of The Union Budget 2023-24 is:
(a) 39 Lakh Crore
(b) 41 Lakh Crore
(c) 45.03 Lakh Crore
(d) 47 Lakh Crore
(e) 50 Lakh Crore

A

C

21
Q

Q22. The current year’s economic growth estimated by Union Budget 2023-24 is at:
(a) 6.5%
(b) 7%
(c) 9%
(d) 8.5%
(e) 5%

A

B

22
Q

Q23. The Total Receipt of The Union Budget 2023-24 is:
(a) 27.13 Lakh Crore
(b) 30 Lakh Crore
(c) 33 Lakh Crore
(d) 22 Lakh Crore
(e) 45.03 Lakh Crore

A

A

23
Q

Q24. The Fiscal Deficit of The Union Budget 2023-24 is:
(a) 10 Lakh Crore
(b) 12 Lakh Crore
(c) 14 Lakh Crore
(d) 17.87 Lakh Crore
(e) 20 Lakh Crore

A

D

24
Q

Q25. Total resources being transferred to the States in The Union Budget 2023-24 is:
(a) 17.98 Lakh Crore
(b) 15 Lakh Crore
(c) 20 Lakh Crore
(d) 18 Lakh Crore
(e) None

A

S25. Ans.(a)
Sol. Total resources being transferred to the States including the devolution of State’s share, Grants/Loans and releases under Centrally Sponsored Schemes, etc. in BE 2023-24 is `17,97,537 crore(17.98 Lakh Crore)

25
Q

Q26. Which of the following is not correctly matched with regards to Proposed Expenditure from the Union Budget 2023-24:
(a) Interest payments-20%
(b) Subsidies-7%
(c) Defence-15%
(d) Pensions-4%
(e) Central Sector Scheme-17%

A

S26. Ans.(c)
Sol. Money from the Budget is allotted to various sectors and also assigned to meet expenses. In brief, the outflow is planned as: Defence-8%

26
Q

Q27. Which of the following has the highest share in the Proposed Expenditure from the Union Budget 2023-24:
(a) Interest Payment
(b) Defence
(c) Centrally Sponsored Scheme
(d) Central Sector Scheme
(e) Finance Commision & other transfers

A

A

27
Q

Q28. Which of the following has the least share in the Proposed Expenditure from the Union Budget 2023-24:
(a) Pensions
(b) Defence
(c) Centrally Sponsored Scheme
(d) Central Sector Scheme
(e) Finance Commision & other transfers

A

A

28
Q

Q29. The proposed fiscal deficit for the Fiscal Year 2023-24 is at:
(a) 5.9 percent of GDP
(b) 6.4 percent of GDP
(c) 4.5 percent of GDP
(d) 7 percent of GDP
(e) 6.7 percent of GDP

A

S29. Ans.(a)
Sol. Finance Minister Nirmala Sitharaman presented the Union Budget 2023-24 on a positive roadmap with fiscal deficit for 2023-24 at 5.9 percent of GDP well below the 6.4% budgeted for 2022-23.

29
Q

Q30. Which among the following is not the part of Seven priorities(‘Saptarishi’) of the Union Budget 2023-24:
(a) Inclusive development
(b) Infrastructure and investment
(c) Green Growth
(d) Women Power
(e) Financial Sector

A

D

30
Q

Q31. Outlay for PM Awas Yojana in the Union Budget 2023-24 is being enhanced by 66% to the amount of:
(a) 80,000 Crore
(b) 79,000 Crore
(c) 50,000 Crore
(d) 60,000 Crore
(e) 90,000 Crore

A

B

31
Q

Q32. Capital outlay of how much crore has been provided for the Railways, which is the highest ever outlay and about nine times the outlay made in 2013-14:
(a) 2.70 lakh crore
(b) 2.40 lakh crore
(c) 2.10 lakh crore
(d) 2 lakh crore
(e) 2.90 lakh crore

A

B

32
Q

Q33. iGOT Karmayogi, an integrated online training platform, launched to provide continuous learning opportunities for whom to upgrade their skills and facilitate people-centric approach:
(a) Government employees
(b) Youths
(c) Women
(d) Tribals
(e) None

A

S33. Ans.(a)
Sol. iGOT Karmayogi, an integrated online training platform, launched to provide continuous learning opportunities for lakhs of government employees to upgrade their skills and facilitate people-centric approach.

33
Q

Q34. Jan Vishwas Bill to amend 42 Central Acts have been introduced to:
(a) further trust-based compliances
(b) further trust-based governance
(c) further privatization
(d) boost agriculture sector
(e) None

A

B

34
Q

Q35. National Data Governance Policy to be brought out in the Union Budget 2023-24 for:
(a) Start-ups and academia
(b) Ease of Doing Business
(c) Governance
(d) Skill India
(e) None

A

A

35
Q

Q36. Who is supported as Centre of Excellence for sharing best practices regarding Shree Anna( Millets)?
(a) Hyderabad
(b) Bengaluru
(c) Lucknow
(d) Delhi
(e) Gurugram

A

A

36
Q

Q37. In the Union Budget 2023-24, Sickle Cell Anaemia will be eliminated by which year?
(a) 2030
(b) 2040
(c) 2050
(d) 2047
(e) None

A

D

37
Q

Q38. In the Union Budget 2023-24, Agricultural Credit target is _.
(a) 25 Lakh Crore
(b) 27 Lakh Crore
(c) 20 Lakh Crore
(d) 15 Lakh Crore
(e) 30 Lakh Crore

A

C

38
Q

Q39. In the Union Budget 2023-24, how much money has been outlayed for energy security, energy transition and net zero objectives __.
(a) ₹35000 crore
(b) ₹3500 crore
(c) ₹25000 crore
(d) ₹45000 crore
(e) ₹30000 crore

A

A

39
Q

Q40. PM-PRANAM Scheme to be launched to incentivize States and Union Territories to promote __.
(a) Infrastructure Development
(b) Green Growth
(c) Alternative fertilizers and balanced use of chemical fertilizers
(d) chemical fertilizers
(e) None

A

C

40
Q

Q41. In the new tax regime rebate limit of Personal Income Tax to be increased to __.
(a) 7 Lakh
(b) 9 Lakh
(c) 6 Lakh
(d) 10 Lakh
(e) 12 Lakh

A

A

41
Q

Q42. Number of basic customs duty rates on goods, other than textiles and agriculture, reduced to __.
(a) 13
(b) 15
(c) 19
(d) 11
(e) 8

A

S42. Ans.(d)
Sol. Number of basic customs duty rates on goods, other than textiles and agriculture, reduced to 13 from 21.

42
Q

Q43. MISHTI scheme will be launched for _.
(a) mangrove plantation in the hinterland
(b) mangrove plantation in North Eatsern Region
(c) mangrove plantation along the coastline
(d) plantation along the coastline
(e) None

A

S43. Ans.(c)
Sol. MISHTI scheme will be launched for Mangrove plantation along the coastline and on salt pan lands, through convergence between MGNREGS, CAMPA Fund and other sources.

43
Q

Q44. Green Credit Programme to be notified under the __.
(a) Agriculture Credit Scheme
(b) Agriculture Accelerator Fund
(c) Wildlife (Protection) Act
(d) Environment (Protection) Act
(e) None

A

S44. Ans.(d)
Sol. Green Credit Programme to be notified under the Environment (Protection) Act to incentivize and mobilize additional resources for environmentally sustainable and responsive actions.

44
Q

Q45. Amrit Dharohar scheme to be implemented over the next three years to encourage optimal use of __.
(a) wetlands, enhance bio-diversity, and carbon stock.
(b) Pasturlands
(c) Chemical Fertilizer
(d) Ground water
(e) None

A

Answer
S45. Ans.(a)
Sol. Amrit Dharohar scheme to be implemented over the next three years to encourage optimal use of wetlands, enhance bio-diversity, carbon stock, eco-tourism opportunities and income generation for local communities.

45
Q

Q46.Direct Benefit Transfer under a pan-India National Apprenticeship Promotion Scheme to be rolled out to provide stipend support to __.
(a) 40 lakh youth in three years
(b) 27 lakh youth in three years
(c) 37 lakh youth in three years
(d) 47 lakh youth in three years
(e) None

A

D

46
Q

Q47. 20,700 crore outlay provided for renewable energy grid integration and evacuation from which state/UT _.
(a) Ladakh
(b) Delhi
(c) Bihar
(d) J&K
(e) None

A

A

47
Q

Q48. Which of the following will be used as the common identifier for all digital systems of specified government agencies to bring in Ease of Doing Business?
(a) Aadhar
(b) PAN
(c) Passport
(d) DL
(e) None

A

B

48
Q

Q49. Rs. 5,300 crore to be given as central assistance to Upper Bhadra Project to provide sustainable micro irrigation and filling up of surface tanks for drinking water, situated in which state?
(a) Telangana
(b) Tamilnadu
(c) Karnataka
(d) Gujarat
(e) Bihar

A

C

49
Q

Q50. ‘Bharat Shared Repository of Inscriptions’ to be set up in a digital epigraphy museum, with digitization of _ ancient inscriptions in the first stage.
(a) Three lakh
(b) Two lakh
(c) Four lakh
(d) Five lakh
(e) One lakh

A

E

Union Budget (1 decks)

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