General Awareness: Budget Quiz

1) Which article of the Indian Constitution makes the presentation of the Budget a mandatory for the government?

a) Article 116
b) Article 112
c) Article 32
d) Article 42

The correct answer is b) Article 112

2) When was India's 1st Budget presented?

a) November 26, 1947
b) February 29, 1948
c) February 28, 1950
d) November2, 1954

The correct answer is a) November 26, 1947

3) The first Union Budget of independent India was presented by ?

a) R.K. Shanmukham Chetty
b) Jawaharlal Nehru
c) Morarji Desai
d) Indira Gandhi

The correct answer is a) R.K. Shanmukham Chetty

4) Rural Infrastructure Development Fund (RIDF) was setup by the government in

a) 1995-96
b) 1990-91
c) 1989-90
d) 1996-97

The correct answer is a) 1995-96

4) Rural Infrastructure Development Fund (RIDF) is maintained by ?

a) NABARD
b) RBI
c) SBI
d) IDBI Bank

The correct answer is b) RBI

5) In the constitution of India, the Union Budget is referred to as the ?

a) Economic Survey
b) Monetary and Credit Policy
c) Foriegn Trade Policy
d) Annual Financial Statement

The correct answer is d) Annual Financial Statement

6) Which department principal responsibility is the preparation of the Union Budget annually (excluding the railway budget) ?

a) Department of Economic Affairs
b) Department of Expenditure
c) Department of Revenue
d) Department of Disinvestment

The correct answer is a) Department of Economic Affairs

7) The Union Budget is always presented first in...?

a) Lok Sabha
b) Rajya Sabha
c) Joint Session of the Parliament
d) State Assemblies

The correct answer is a) Lok Sabha


8) Rural Infrastructure Development Fund (RIDF) is maintained by ?

a) NABARD
b) RBI
c) SBI
d) IDBI Bank

The correct answer is b) RBI