Union Budget Quiz MCQs 2021

Union Budget Quiz 2021: The Union Budget 2021 of India was presented by the Minister of Finance (Nirmala Sitharaman) on the 1st February 2021.  The Union Budget is the annual financial report of India; an estimate of income and expenditure of the government for the forthcoming financial year.. As per Article 112 of the Indian Constitution, presenting a budget is a compulsory task of the government.

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Union Budget Quiz 2021, Budget 2022 Highlights PDF

Union Budget Quiz 2021

1. Who presents Budget in Parliament?
a) Prime Minister
b) Finance Minister
c) Home Minister
d) President of India
Ans: b) Finance Minister

2. How many times Nirmala Sitharaman presented the budget in parliament?
a) 3
b) 5
c) 2
d) 1
Ans: a) 3

3. Who presented India’s first-ever budget?
a) James Wilson
b) Jawaharlal Nehru
c) Lord Mountbatten
d) C Rajagopalachari
Ans: a) James Wilson

4. Budget 2021-22 proposals to rest on six pillars. Which of the following is not among them?
a) Health & well being
b) Minimum Government, Maximum Governance
c) Innovation and R&D
d) Agricultural Development
Ans: d) Agricultural Development

5. What is the total budget outlay for health & wellbeing?
a) 1.21 lakh crore
b) 2.23 lakh crore
c) 5.06 lakh crore
d) 1.89 lakh crore
Ans: b) 2.23 lakh crore

6. According to the budget, how much amount is allocated for Covid Vaccine?
a) 20,000 crore
b) 15,000 crore
c) 35,000 crore
d) 30,000 crore
Ans: c) 35,000 crore

7. How much amount is allocated for PM Atmanirbhar Swasth Bharat Yojana?
a) 64,180 crore
b) 89,634 crore
c) 70,000 crore
d) 65,000 crore
Ans: a) 64,180 crore

8. In Union Budget 2021, how much amount is allocated for Railways?
a) 1,00,000 crore
b) 3,25,000 crore
c) 1,10,055 crore
d) 2,30,345 crore
Ans: c) 1,10,055 crore

9. A national rail plan has been prepared by Indian Railways for India. The plan is to create a future-ready railway system by
a) 2030
b) 2025
c) 2035
d) 2040
Ans: a) 2030

10. Ujjawala Scheme has been extended to how many more districts?
a) 150
b) 110
c) 120
d) 100
Ans: d) 100

11. How much amount is allocated for tea workers in Assam & West Bengal?
a) 2000 crore
b) 1000 crore
c) 3000 crore
d) 2500 crore
Ans: b) 1000 crore

12. How much custom duty on cotton and auto parts increased respectively?
a) 20% & 10%
b) 10% & 25%
c) 10% & 15%
d) 25% & 30%
Ans: c) 10% & 15%

13. According to Union Budget 2021, gross borrowing from the market for the next year would be around
a) 12 lakh crore
b) 15 lakh crore
c) 10 lakh crore
d) 16 lakh crore
Ans: a) 12 lakh crore

14. The forthcoming census would be the first digital census in the history of India. How much amount is allocated for this in 2021-22?
a) 2,654 crore
b) 4,973 crore
c) 2,872 crore
d) 3,768 crore
Ans: d) 3,768 crore

15. How much custom duty on solar lantern has been reduced?
a) 4%
b) 7%
c) 6%
d) 5%
Ans: d) 5%

16. Which company’s IPO will be launched in 2021-22 as a part of the Government’s disinvestment strategy?
a) IDBI
b) LIC
c) SBI
d) IOCL
Ans: b) LIC

17. As per Union Budget 2021, the fiscal deficit is estimated to be how much percent of GDP?
a) 9.5%
b) 7.4%
c) 8%
d) 8.9%
Ans: a) 9.5%

18. Union Budget for 2020-21 announced an increase in Foreign Direct Investment (FDI) limit in insurance from 49% to ________.
a) 71%
b) 72%
c) 73%
d) 74%
Ans: d) 74%

19. 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?
a) 20
b) 10
c) 15
d) 12
Ans: c) 15

20. In Budget 2021, National Infrastructure Pipeline was expanded to cover 7400 projects. What is the capital expenditure announced to fund the same?
a) Rs 2.54 lakh crore
b) Rs 3.54 lakh crore
c) Rs 4.54 lakh crore
d) Rs 5.54 lakh crore
Ans: d) Rs 5.54 lakh crore

21. How many mega-investment textile parks will be established over 3 years?
a) 10
b) 5
c) 7
d) 9
Ans: c) 7

22. In which state, multi a seaweed park will be setup?
a) Chhattisgarh
b) Tamil Nadu
c) Punjab
d) Haryana
Ans: b) Tamil Nadu

23. How much amount has been allocated for roads, transport, and highways?
a) 2.18 lakh crore
b) 3.18 lakh crore
c) 5.18 lakh crore
d) 1.18 lakh crore
Ans: d) 1.18 lakh crore

24. FM Nirmala Sitharaman proposes to setup an ARC for NPA Management. What does ‘R’ refer to in ARC?
a) Recapitalization
b) Retail
c) Reconstruction
d) Reforms
Ans: c) Reconstruction

25. How much amount is allocated for PSB recapitalization?
a) 10,000 crore
b) 20,000 crore
c) 30,000 crore
d) 40,000 crore
Ans: b) 20,000 crore

…THE END…

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