GK Quiz On budget: Who added India's First finances After Independence?

GK Quiz On Union price range: Finance minister Nirmala Sitharaman will present the Union budget for the imminent financial yr on february 1, 2025. The finance minister, along side senior officials, works together to craft the price range, a technique that is kept personal.

contributors inside the budget-making technique are placed below lockdown and prohibited from using their phones until the presentation. now is the time to brush up for your knowledge of this vital monetary document because the Union price range 2025 methods.

GK Quiz On finances: take a look at Your general knowledge

Who provides the Union finances of India?

a) top Minister

b) Finance Minister

c) President of India

d) governor of RBI

solution: b) Finance Minister

what's the financial yr length in India?

a) 1st april to 31st March

b) 1st january to thirty first December

c) 1st june to 31st might also

d) 1st october to 30th September

solution: a) 1st april to thirty first March

Who become the primary Finance minister to present the Union price range of unbiased India?

a) R. k. Shanmukham Chetty

b) Jawaharlal Nehru

c) Morarji Desai

d) C. D. Deshmukh

answer: a) R. okay. Shanmukham Chetty

whilst is the Union price range commonly supplied?

a) 1st January

b) 26th January

c) 1st February

d) 15th March

solution: c) 1st February

what is the economic deficit?

a) general tax accrued by using the authorities

b) difference between imports and exports

c) overall expenditure minus total receipts (aside from borrowings)

d) overall profits of the authorities

solution: c) total expenditure minus total receipts (except for borrowings)

Which constitutional article relates to the Union finances?

a) Article a hundred and ten

b) Article 320

c) Article 124

d) Article 112

solution: d) Article 112

Which sector receives the best allocation in maximum Union Budgets?

a) schooling

b) Defence

c) Infrastructure

d) Agriculture

answer: b) Defence

what is a 'Vote on Account'?

a) A summary of the finances

b) A brief association for expenditure

c) A report on government debt

d) not one of the above

answer: b) A transient arrangement for expenditure

What does GDP stand for?

a) Gross domestic Product

b) Gross development Plan

c) wellknown statistics coverage

d) authorities development mission

solution: a) Gross domestic Product

what's an instantaneous tax?

a) Tax levied on profits and profits

b) Tax on goods and offerings

c) Tax on imports and exports

d) none of the above

solution: a) Tax levied on profits and income

The Union finances is supplied in which house of Parliament?

a) Lok Sabha

b) Rajya Sabha

c) each

d) None

solution: a) Lok Sabha

Which document outlines the expected receipts and expenditures of the authorities for a particular economic 12 months?

a) financial Survey

b) Annual economic declaration

c) Finance bill

d) financial policy

solution: b) Annual financial assertion

The Union price range of india is also known as?

a) economic declaration

b) economic Plan

c) Annual monetary Plan

d) not one of the above

answer: c) Annual monetary Plan

what's the primary source of sales for the indian authorities in keeping with the Union finances?

a) profits Tax

b) goods and offerings Tax (GST)

c) company Tax

d) Customs duty

answer: b) goods and services Tax (GST)

The idea of zero-based totally Budgeting was added in which Union budget?

a) 2018-19

b) 2017-18

c) 2016-17

d) 2015-sixteen

answer: c) 2016-17

The Finance Minister's finances speech generally starts with which traditional indian salutation?

a) Vande Mataram

b) jai Hind

c) Om Shanti

d) Satyameva Jayate

answer: d) Satyameva Jayate

while is the term "interim finances" used?

a) a brand new authorities is shaped

b) The government is dealing with monetary constraints

c) A complete budget is supplied at some stage in an election 12 months

d) The finances is presented for a short period before a new fiscal yr

answer: d) The price range is provided for a short length earlier than a brand new financial yr

India's first-ever price range become introduced on 7th april, 1860, in pre-unbiased India. Who presented it?

a) Robert Clive

b) Lord Mountbatten

c) king George V

d) james Wilson

solution: james Wilson

who're the only 3 top Ministers to have supplied a finances?

a) indira gandhi, manmohan Singh, HD Deve Gowda

b) Jawaharlal Nehru, indira gandhi, manmohan Singh

c) PV narasimha Rao, Lal Bahadur Shastri, Chandra Shekhar

d) Jawaharlal Nehru, indira gandhi and Rajiv Gandhi

solution: d) Jawaharlal Nehru, indira gandhi and Rajiv Gandhi

Who holds the file of offering the maximum wide variety of Budgets in the records of India?

a) Moraraji Desai

b) Indira Gandhi

c) Nirmala Sitharaman

d) Pranab Mukherjee

solution: a) Moraraji Desai

The shortest finances speech had only 800 phrases and changed into brought in 1977. Who introduced it?

a) Chandra Shekhar

b) Hirubhai Mulljibhai Patel

c) vice chairman Singh

d) Madhu Dhanwate

answer: b) Hirubhai Mulljibhai Patel

In 1991, who concluded the price range speech through quoting French poet Victor Hugo's phrases, "nothing can prevent the concept whose time has come"?

a) manmohan Singh

b) vp Singh

c) Indira Gandhi

d) Nirmala Sitharaman

answer: a) manmohan Singh

Finance minister Nirmala Sitharaman introduced the longest-ever budget speech wherein year?

a) 2000

b) 2020

c) 2021

d) 2024

answer: b) 2020

How long became Finance minister Nirmala Sitharaman's price range speech in 2020?

a) 2 hours and forty two mins

b) 1 hour and three minutes

c) 3 hours and 10 minutes

d) 1/2 an hour

answer: a) 2 hours and forty two minutes

The Union price range has one popular tradition, known as?

a) Haldi rite

b) Halwa ceremony

c) non secular ceremony

d) Ring rite

solution: b) Halwa rite