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Static Awareness Quiz for Bank Exams 2021- 12th May

Q1. Which article of the constitution envisages budget?
(a)Article 115
(b)Article 112
(c)Article 113
(d)Article 114
(e)None of these

Q2. Interim budget is also known as….
(a) Vote on Account
(b) Mini budget
(c)Both a and b
(d)2 years budget
(e)None of these

Q3. Who presents the Union Budget in the Parliament?
(a)Finance Minister
(b)Home Minister
(c)Prime Minister
(d)Commerce Minister
(e)None of these

Q4. Who presented India’s first-ever budget?
(a)Warren Hastings
(b)John Shore
(c)John Adam
(d) James Wilson
(e)None of these

Q5. According to the budget 2021-22, how much amount is allocated for COVID-19 Vaccine?
(a)45,000 crore
(b)35,000 crore
(c)30,000 crore
(d)55,000 crore
(e)50,000 crore

Q6. What is the outlay for health and wellbeing in Union Budget 2021-22?
(a)Rs 2,23,846 crore
(b)Rs 3,23,846 crore
(c)Rs 6,23,846 crore
(d)Rs 1,23,846 crore
(e)Rs 4,23,846 crore

Q7. As per the budget 2021, total expenditure pegged for FY22?
(a) Rs 44.83 lakh crore
(b) Rs 54.83 lakh crore
(c) Rs 64.83 lakh crore
(d) Rs 34.83 lakh crore
(e) Rs 24.83 lakh crore

Q8. In budget 2021, a multipurpose seaweed park will be established in which state?
(a)Maharashtra
(b)Kerala
(c)Tamil Nadu
(d)Odisha
(e)None of these

Q9. The fiscal deficit in BE 2021-2022 is estimated to be …………….percentage of GDP?
(a)7.8 %
(b)5.8 %
(c)6.8 %
(d)8.8 %
(e)9.8 %

Q10. The Foreign Direct Investment (FDI) in ____________ has been increased from 49% to 74%.
(a)Telecom Sector
(b)Insurance Sector
(c)Defence Manufacturing
(d)Railways
(e)None of these

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Solutions

S1.Ans(b)
Sol. According to Article 112 of the Indian Constitution, the Union Budget of a year, also referred to as the annual financial statement, is a statement of the estimated receipts and expenditure of the government for that particular year.

S2.Ans(c)
Sol. The last budget of any government is termed as an interim budget or a vote on account or a mini budget.

S3.Ans(a)
Sol. The Union Budget is presented by the Union Finance Minister.

S4.Ans(d)
Sol. In 1860, a Scotsman named James Wilson presented India’s first-ever budget.

S5.Ans(b)
Sol. Finance Minister Nirmala Sitharaman provided Rs 35,000 crore towards COVID-19 vaccination in 2021-22 fiscal.

S6.Ans(a)
Sol. The Budget outlay for Health and Wellbeing is 2,23,846 crores in BE 2021-22.

S7.Ans(d)
Sol. Government expenditure for FY22 is pegged at Rs 34.83 lakh crore, according to Budget 2021 documents, marginally higher than the revised estimate of Rs 34.5 lakh crore in FY21.

S8.Ans(c)
Sol. The Union Budget announcement is to set up a Multipurpose Seaweed Park in Tamil Nadu.

S9.Ans(c)
Sol. The fiscal deficit in BE 2021-2022 is estimated to be 6.8% of GDP.

S10.Ans(b)
Sol. Nirmala Sitharaman increased the foreign direct investment (FDI) limit in the insurance sector from the existing 49% to 74%.

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