MCQ On Budget 2021 Pdf | Union Budget 2021 MCQ UPSC Pdf

Current Affairs Quiz / July 1, 2021

MCQ On Budget 2021 Pdf | Questions & Answers On Budget 2021 Pdf – These Questions Are Created From Union Budget 2021-22 For UPSC And State Level Exams. All Questions Are Very Important For Exams . Do not Ignore Any Question. As We All know That Union Budget And Economic Survey Play An important Role In UPSC Prelims and Mains Exam. Many Questions Are Asked From These Two Documents . So Here We Are Providing You Top 100+ MCQ Based On union Budget 2021 .

MCQ On Budget 2021 Pdf | Questions & Answers On Budget 2021 Pdf

MCQ On Budget 2021 Pdf

1.What is the largest item of expenditure in the Union Budget 2021-2022 ?
  1. Interest Payment
  2. States share of taxes and duties
  3. Central Sector Scheme
  4. Subsidies
2.What is the biggest source of income for Central Government in the Union Budget 2021-22 ?
  1. GST
  2. borrowing and other Liabilities
  3. Income Tax
  4. Corporate Tax
3.Why is/are disinvestment necessary ?
  1. To reduce the fiscal burden on the exchequer
  2. To bridge the revenue shortfall from other regular sources
  3. Both (a) and (b)
  4. None of the Above
4.Consider the following statements regarding disinvestment target for 2021-22
I. The government has set a disinvestment target of Rs. 1.75 lakh crore for 2021-22.
II. The disinvestment is lower than Rs. 2.1 lakh crore from disinvestment in 2020-21
Select the CORRECT code given below
  1. I Only
  2. II Only
  3. Both I and II
  4. None of These
5.Which is an INCORRECT regarding Budget.
  1. It is an annual Financial Statement
  2. Joint Session of the Parliament due to Dead lock 
  3. More power in Lok Sabha
  4. Budget represent in parliament with prior recommendations of the President
 6.Who represent Budget in the Parliament ?
  1. Finance Minister
  2. Finance Commission
  3. Prime Minister
  4. President
 7.Where is mentioned annual financial statements (Budget) in the Constitution of India ?
  1. Article 110
  2. Article 111
  3. Article 112
  4. Article 117
 8.The FRBM Act mandates fiscal deficit of ……. of GDP to be achieved by 31st March 2020-21.
  1. 3%
  2. 3.3%
  3. 3.5%
  4. 3.6%
 9.The fiscal deficit in BE 2021-2022 is estimated to be …… Percentage of GDP ?
  1. 6.5%
  2. 6.6%
  3. 6.7%
  4. 6.8%
10.Operation Green Scheme extended to
  1. 15 Perishable Products
  2. 22 Perishable Products
  3. 25. Perishable Products
  4. 23 Perishable Products
11.Which is/are part of strategic disinvestment ?
  1. IDBI bank
  2. Pawan Hans
  3. Both (a) and (b)
  4. None of these
Explanation : Strategic Disinvestment of BPLC, Air India, Shipping Corporation of India, Container Corporation of India, IDBI Bank, BEML, Pawan Hans, Nilanchal Ispat Nigam Limited etc. to be completed by 2021-22.
12.Which is not a part of Single Security Markets Code ?
  1. SEBI Act, 1992
  2. Depository Act, 1996
  3. Government Security Act, 2007
  4. RBI Regulation Act, 1992
13.100% electrification of Broad-Gauge route will be completed by……?
  1. December 2022
  2. December 2023
  3. December 2024
  4. December 2025
14.Western Dedicated Freight Corridor (DFC) and Eastern DFC to be commissioned by 
  1. January 2022
  2. March 2022
  3. June 2022
  4. July 2022
15.The Madurai-Kollam corridor, Chittoor-Thatchur corridor will be developed under 3,500 km of NH in ……?
  1. Karnataka
  2. Tamil Nadu
  3. Andhra Pradesh
  4. Kerala

Questions & Answers On Union Budget 2021

16.What is/are aim of Mega Investment Textiles Parks (MITRA) ?
  1. To making globally competitive Textile Industry
  2. Textile Industry attract large investment
  3. To boost Employment Generation & export
  4. All of the Above
17.The Urban Swachh Bharat Mission 2.0 will be implemented over a period of 5 years from ?
  1. 2021-2026
  2. 2020-2025
  3. 2022-2027
  4. 2023-2028
18.Which is an INCORRECT regarding the Swachh Bharat Mission 2.0 ?
  1. Complete faecal sludge management and waste water treatment
  2. Source segregation of garbage
  3. Bio-remediation of some legacy dump sites
  4. Reduction in Single-use plastic
 19.Which announcements of budget 2021-22 related to clean environment ?
  1. Vehicle scraping policy
  2. SWAMITVA Scheme
  3. Disinvestment
  4. Poshan 2.0
20.Which is an INCORRECT regarding Production Linked Incentive Scheme (PLI) ?
  1. Promote Vocal for Local
  2. Achieve goal of Atmanirbhar Bharat
  3. Increase Export
  4. Increase Import
21.In budget 2021, A multipurpose seaweed park will be established in which state ?
  1. Kerala
  2. Andhra Pradesh
  3. Odisha
  4. Tamil Nadu
22.In budget session 2021-22, Government decided to setting up how many Regional National Institute for Virology ?
  1. 6
  2. 5
  3. 4
  4. 3
23.How many new Emergency Health Center and Mobile Hospital will open in India ?
  1. 15 and 5
  2. 15 and 2
  3. 13 and 5
  4. 13 and 2
24.The Finance Minister has announced how much amount for COVID-19 vaccine during the period 2021-22 ?
  1. Rs. 55,000 crore
  2. Rs. 40,000 crore
  3. Rs. 35,000 crore
  4. Rs. 30,000 crore
25.Which company’s IPO will be launched in Annual Financial Statements 2021-22 as a part of Government’s disinvestment strategy ?
  1. LIC
  2. BHEL
  3. Air India
  4. Indian Railways
26.What will be shape of Gross Domestic Product (GDP) growth recovery ?
  1. S-shape
  2. U-shape
  3. V-shape
  4. I-shape
27.Union Budget 2021-22 presented in
  1. First time Digitally
  2. Rajya Sabha
  3. Video Conferencing
  4. Joint Session of the Parliament
28.Arrange the decreasing order of tax collection 
  1. GST
  2. Corporation Tax
  3. Income Tax
  4. Excise

Choose The Correct Answer From Options Given below

  1. I, IV, III, II
  2. I, II, III, IV
  3. I, III, II, IV
  4. III, I, II, IV

Decreasing order of Tax Collection 2021-22 :

  • GST – Income Tax – Corporation Tax – Excise –  Customs.
29.Which is a CORRECT option for Cess ?
  1. Permanent tax
  2. It is imposed by State Government Only
  3. It is kept in Consolidated Fund of India
  4. It is same as surcharge
30.Recently, What percentage of cess on Direct tax for Health & Education ?
  1. 3%
  2. 4%
  3. 5%
  4. 6%

Questions & Answers On Union Budget 2021-22

31.Rs. 1,18,452 crore as Revenue Deficit Grant in 2021-22 to
  1. 15 States
  2. 16 States
  3. 17 States 
  4. 18 States
32.Arrange increasing order of Expenditure
  1. Interest Payments
  2. Central Sector Schemes
  3. Centrally Sponsored Schemes
  4. Subsidy
Select CORRECT code given below
  1. I, II, III, IV
  2. IV, III, II, I
  3. II, III, I, IV
  4. III, IV, II, I
33.Which Ministry In union Budget 2021-22 Got highest Allocation Of Fund ?
  1. Ministry of Education
  2. Ministry of Health and Family Welfare
  3. Ministry of Railways
  4. Ministry of Defence
34.Affordable housing projects to get a tax holiday for
  1. Three Years
  2. Two Years
  3. One Year
  4. Five Years
35.Proposal to increase FDI limit from 49% in insurance to
  1. 51%
  2. 70%
  3. 74%
  4. 75%
36.Bank Deposit insurance increase from Rs. 1 lakh to
  1. Rs. 3 lakh
  2. Rs. 5 lakh
  3. Rs. 7 lakh
  4. Rs. 9 lakh
37.How many Agricultural Mandis to be integrated into the e-NAM market place
  1. 1,000
  2. 2,000
  3. 3,000
  4. 4,000
38.Five major fishing hubs to b developed in 
  1. Chennai, Mumbai, Kolkata
  2. Vishakhapatnam, Chennai, Paradip
  3. DDP, Kochi, Tuticorin
  4. Chennai, Kochi, Paradip
39.Vivad Se Vishwas Scheme for
  1. NPA
  2. To settle Capital dispute
  3. To settle Tax dispute
  4. None of these
40.Four Indian astronauts being trained on Generic Space Flight aspects, in Russia as part of the
  1. Mangal Mission
  2. Chandra Mission
  3. Gaganyan
  4. NASA Mission

 

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