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Last updated on February 13th, 2023 at 06:21 pm

The Union Budget of India is the thorough Annual Financial Statement that includes information on the capital, revenue, and expenditures of the government. On February 1st, 2023, Finance Minister Nirmala Sitharaman will introduce the 2023–24 budget. Check the Union Budget Quiz on Union Budget Economic Survey before the Union Budget 2023.

The Union Budget of India is a thorough Annual Financial Statement that outlines the capital, revenue, and expenditures of the government. According to Article 112 of the Constitution, the Union Government must present a statement to both Houses of Parliament outlining its anticipated receipts and expenses for the fiscal year (April 1 through March 31).

Union Budget 2023-24 Quiz

Q1.Which of the following is relevant to the goal of Operation Green?

  1. Tomato, onion, and potato production
  2. Tomato, chili, and potato production
  3. Potato, onion, and pulse production
  4. Rice, lentil, and tomato production

Answer: A

Q2. Which policy (Yojna) from the list below will convert 5 lakh acres to organic farming?

  1. Pramaparagat Krishi Vikas Yojna
  2. Shyama Prasad Mukherji Rurban Mission
  3. Pradhan Mantri Krishi Sichai Yojna
  4. PM Fasal Bima Yojna

Answer: A

Q3. Which proposed legislation is meant to address issues with infrastructure contracts, PPPs, and public utilities?

Program for Skill Development

  1. Companies Amendment Bill
  2. Bill for Public Utility Dispute Resolution
  3. Goods and Services Tax

Answer: C

Q4.  Which program will exempt service tax from general insurance plans:

  1. Companies Amendment Bill
  2. Shyama Prasad Mission Mukherji Rurban
  3. Customer Act
  4. NIRMAYA Plan

Answer: D

Q5. Which of the following Yojnas offered the lowest premium and largest payout amount ever in the event of crop loss?

  1. PM Fasal Bima Yojna
  2. PM Krishi Sinchai Yojna
  3. Shyama Prasad Mission Mukherji Rurban
  4. Pramaparagat Krishi Vikas Yojna

Answer: A

Q6. Which of the following plans deals with managing and converting solid waste from farms, such as animal manure, into compost, fertilizer, biogas, and bio-CNG?

  1. Strengthening Organic Bio-Agriculture Resources Dhan
  2. Swachchh Bharat Abhiyan
  3. Pradhan Mantri Jeevan Jyoti Beema Yojna
  4. Krishi Sinchai Yojna, the Prime Minister

Answer: A

Q7. India is ranked third based on what, according to Arun Jaitley’s address on the 2018–19 budget?

  1. Purchasing Power Parity (PPP)
  2. Gross national product (GDP)
  3. Agricultural Prodution
  4. International Business (FDI)

Answer: A

Q8. Which of the following newly reorganized programs was introduced to improve PRIs’ capacity for governance?

  1. National Skill Development Mission
  2. PM Kaushal Vikas Yojana
  3. Swaccha Bharat Abhiyaan
  4. Rashtriya Gram Swaraj Abhiyan

Answer: D

Q9. In accordance with the Budget 2018–19, which of the following three public general insurance companies would be combined into one insurance company?

  1. National Insurance, Oriental Insurance, and UTI
  2. LIC, Bharti AXA and United Insurance
  3. General Insurance, UTI, and Max Bupa
  4. United Insurance, Bharti AXA, and Agriculture Insurance Company of India Limited

Answer: A

Q10. Who served as India’s first finance minister after independence?

  1. Shanmukhan Chetty
  2. John Mathai
  3. C. D Deshmukh
  4. Liaquat Ali Khan

Answer: A

Q11. Which one of the Indian Union (Central) Budget’s components is correct?

  1. Revenue Budget
  2. Capital Spending
  3. Budget for Expenditures
  4. A & B both

Answer: D

Q12. The following individuals must approve any withdrawals from the Consolidated Fund of India:

  1. The Indian President
  2. The Indian Parliament
  3. India’s Prime Minister
  4. The Union Finance Minister

Answer: B

Q13. When the Lok Sabha fails to approve the yearly budget, item 27.

  1. the Budget is modified and presented again
  2. The Rajya Sabha is asked for suggestions regarding the Budget.
  3. A request for the resignation of the Union Finance Minister
  4. The Prime Minister submits the Council of Ministers’ resignation

Answer: D

Q14. Who will give the Budget 2023 speech in Parliament?

  1. Narendra Modi
  2. Nirmala Sithraman
  3. Rajnath Singh
  4. Amit Shah

Answer: B

Q15. What French phrase, which means “Small Bag,” is the root of the English word “Budget”?

  1. Budgetto
  2. Budgetale
  3. Budgatte
  4. Bougette

Answer: D

Q16. Which of the following Articles of the Indian Constitution mentions the word “budget”?

  1. Art. 266
  2. Art. 112
  3. Art. 265
  4. None

Answer: D

Q17. Which of the following social campaigns sponsored by the Indian government seeks to increase public awareness and boost the effectiveness of programs aimed at assisting girls?

  1. Beti Bachao, Beti Padhao
  2. Gender sensitisation
  3. Ladli
  4. Swachchha Bharat Mission

Answer: A

Q18. In which of the following markets has the option to be open every day of the week been granted?

  1. Malls
  2. Private Offices
  3. Banks
  4. Shops

Answer: D

Q19. Which of the following programs has the goal of educating 1 crore young people over the course of the next three years?

  1. Startup, Standup
  2. PM Kaushal Vikas Yojna
  4. Deen Dayal Upadhyay Yojna Grameen Kaushalaya

Answer: B

Q20. What Cess is assessed at 0.5% on all services?

  1. Swachh Bharat
  2. Krishi Kalyan
  3. Kaushal Vikas
  4. Both A & B

Answer: D

Q21. Which of the following expenses increase as a result of the Budget 2018–19?

  1. Smoking
  2. Cigar
  3. Smoking
  4. All the aforementioned

Answer: D

Q22. What is the precise meaning of capital payments?

  1. It describes capital outlays for the development of capital projects and the purchase of assets including real estate, buildings, machinery, and equipment.
  2. It alludes to capital income derived through the development of capital projects and the purchase of assets such as real estate, buildings, machinery, and equipment.
  3. It is the cost associated with maintaining the government and its many departments as well as the services they offer.
  4. None of the preceding

Answer: A

Q23. Which country’s budget has the number 2023-24 when it was recently announced?

  1. 90th
  2. 91th
  3. 92nd
  4. 93rd
  5. 94th

Answer: D

Q24. Which of the following individuals delivered India’s first union budget after independence?

  1. Annie Besant
  2. B.R. Ambedkar
  3. Jawaharlal Nehru
  4. C.D. Deshmukh
  5. R. K. Shanmukham Chetty

Answer: E

Q25. How much money (in billions) is set aside in the Union Budget for 2022–2023 for agriculture and farmer welfare?

  1. Rs. 1325.13
  2. Rs. 1054.07
  3. Rs. 1077.15
  4. Rs. 1403.67
  5. Rs. 1857.76

Answer: A

Union Budget Quiz: FAQs 

What does the phrase “Budget” mean to you, and why do we need one?

An annual financial statement of the government’s anticipated receipts and expenses for a specific year is called a budget.

What does “interim budget” mean?

A comprehensive set of accounts, including both expenditures and receipts, makes up an interim budget.

When was India’s first Union Budget announced?

R. K. Shanmukham Chetty served as independent India’s first finance minister. On November 26, 1947, he gave India’s first Union budget a presentation.

Why is the Indian budget usually constructed with a deficit in mind?

India is a welfare state, as is well known, and the government is committed to ensuring the wellbeing of its people. As a result, when government spending exceeds its income, the economy experiences a deficit, which is then filled by printing more money and borrowing from other nations.

Why was the Budget delivered to Parliament digitally?

In light of the COVID-19 epidemic, FM Sitharaman offered the first paperless budget in FY 2023–2024. The Budget is anticipated to be paperless, much like the previous year.

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