10 GK Questions MCQ's on Union Budget & Economic Survey

1-Take into account the statement(s) below, which relate to the yearly 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

2- Any of subsequent In the event of crop loss, Yojna offered the lowest premium and maximum compensation ever?

A. PM Fasal Bima Yojna

B. PM Krishi Sinchai Yojna

C. Shyama Prasad Mukherji Rurban Mission

D. Pramaparagat Krishi Vikas Yojna

Ans: A 

3- Take into account how the following statement(s) relates 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

4- Which of the following plans deals with managing and converting solid waste from farms, such as cattle manure, into compost, fertiliser, biogas, 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

5- Take into account 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

6- Which of the following statements about the budget is true?

I. It is a statement of financial position for a future period, setting out proposed expenditure and means of financing it.

II. Article 111 of the Constitution requires the government to present to Parliament a statement of estimated receipts and expenditure in respect of every financial year.

Select correct one:

A. Only I

B. Only II

C. Both I & II

D. Neither I nor II

Ans: A

7- Which of the following is relevant to the goal of Operation Green?

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

8- Which strategy (Yojna) from the list below will convert 5 lakh acres to 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

9- Which suggested legislation would address issues with infrastructure contracts, PPPs, and public utilities?

A. Skill Development Programme

B. Companies Amendment Bill

C. Public Utility Resolution of Disputes Bill

D. Goods & Services Tax

Ans: C

10- Which strategy will exempt service tax from general insurance plans?

A. Companies Amendment Bill

B. Shyama Prasad Mukherji Rurban Mission

C. Customer Act

D. NIRMAYA Scheme

Ans: D