Budget 2024 GK Top MCQs

Current Affairs Updated Dewashish Sir Official
https://www.youtube.com/@CurrentAffairsUpdated https://t.me/Dewashishsir
1. What is the Union Budget of India also known as?
[A] Fiscal Policy
[B] Economic Policy
[C] Annual Financial Statement
[D] Government Budget

Answer – [C] Annual Financial Statement

2. According to which article of the Constitution of India is the

Union Budget referred to as the Annual Financial Statement?
[A] Article 110
[B] Article 111
[C] Article 112
[D] Article 113

Answer – [C] Article 112

3. On which date is the Union Budget presented by the

Government of India?
[A] Last working day of February
[B] First day of March
[C] First day of February
[D] Last working day of January

Answer –[C] First day of February
Since 2017
4. Why is the first day of February chosen for presenting the

Union Budget?
[A] To coincide with a historical event
[B] To align with the financial year beginning in April
[C] To allow more time for public consultation
[D] To commemorate a national holiday

Answer –[B] To align with the

financial year beginning in April
5. Who is responsible for producing the budget according to the given

passage?
A) Ministry of Finance
B) Department of Expenditure
C) Department of Revenue
D) Department of Economic Affairs

D) Department of Economic Affairs
Budget division of the Department of

Economic Affairs (DEA) in the finance
ministry is the nodal body responsible for
producing the Budget
6. What are the two key bills related to the presentation of

the Union Budget?
[A] Finance bill and Revenue bill
[B] Appropriation bill and Finance bill
[C] Budget bill and Expenditure bill
[D] Economic bill and Appropriation bill

Answer – [B] Appropriation bill and Finance bill

7. When does the Union Budget come into effect each year?
A) 1 January
B) 1 March
C) 1 April
D) 1 Feb
C) 1 April
8. Which budget, presented separately for 92 years, has been

merged with the Union Budget?
[A] Defense Budget
[B] Rail Budget
[C] Health Budget
[D] Education Budget

Answer – [B] Rail Budget
The government, in 2016, decided to merge

the Railway Budget with the Union Budget.
The late Arun Jaitley, the then Finance

Minister, presented the first combined
Budget for the financial year 2017-18.
9. Who changed the tradition of announcing the Union Budget at

5:00 pm and announcing the 1999 Union Budget at 11 am?
[A] Manmohan Singh
[B] Yashwant Sinha
[C] P. Chidambaram
[D] Pranab Mukherjee

Answer – [B] Yashwant Sinha

10. What milestone is Union Finance Minister Nirmala

Sitharaman poised to achieve?
[A] Fourth consecutive budget
[B] Fifth consecutive budget
[C] Sixth consecutive budget
[D] Seventh consecutive budget

Answer –[C] Sixth consecutive budget

11. Who holds the record for presenting the highest number of
budgets among the listed individuals?
[A] P Chidambaram
[B] Pranab Mukherjee
[C] Morarji Desai
[D] Yashwant Sinha

Answer –[C] Morarji Desai
Morarji Desai leads with 10 budgets

12. Who succeeded Morarji Desai as the Finance Minister and

became the first woman to hold the post after his resignation?
[A] Nirmala Sitharaman
[B] Arun Jaitley
[C] Sushma Swaraj
[D] Indira Gandhi

Answer –[D] Indira Gandhi

13. What item did Nirmala Sitharaman use to carry the budget on 5
July 2019, breaking the traditional use of a leather briefcase?
[A] Wooden box
[B] Metal suitcase
[C] Bahi-Khata
[D] Fabric bag

Answer – [C] Bahi-Khata
Traditional accounting ledger

14. On what date did Finance Minister Nirmala Sitharaman

present the first paperless budget?
[A] 1 February 2019
[B] 1 February 2020
[C] 1 February 2021
[D] 1 February 2022

[C] 1 February 2021

15. Who presented the first Union Budget of independent India?
[A] Jawaharlal Nehru
[B] Sardar Vallabhbhai Patel
[C] R. K. Shanmukham Chetty
[D] Morarji Desai

Answer – [C] R. K. Shanmukham Chetty

16. On what date was the first Union Budget of independent India
presented?
[A] 15 August 1947
[B] 26 November 1947
[C] 1 April 1948
[D] 2 October 1947

Answer – [B] 26 November 1947

17. What is the significance of the ‘Halwa ceremony’ in the

context of the Union Budget presentation?
[A] It marks the beginning of the financial year
[B] It symbolizes the end of the budgetary process
[C] It initiates the printing of budget documents
[D] It signifies the conclusion of the Parliament session

Answer – [C] It initiates the printing of

budget documents
Consuming a sweet dish
Finance Minister serves the halwa during

the ‘Halwa ceremony
18. Where do the officers and support staff involved in the budget
preparation remain isolated until the budget is presented?
[A] South Block office
[B] Parliament House
[C] North Block office
[D] Rashtrapati Bhavan

[C] North Block office
To maintain secrecy before the budget presentation
On the day of the Halwa ceremony


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Current Affairs Updated Dewashish Sir Official

1. What is the Union Budget of India also known as?

[A] Fiscal Policy

[B] Economic Policy

[C] Annual Financial Statement

[D] Government Budget

Answer – [C] Annual Financial Statement

2. According to which article of the Constitution of India is the

[A] Article 110

[B] Article 111

[C] Article 112

[D] Article 113

Answer – [C] Article 112

3. On which date is the Union Budget presented by the

[A] Last working day of February

[B] First day of March

[C] First day of February

[D] Last working day of January

Answer –[C] First day of February

4. Why is the first day of February chosen for presenting the

[A] To coincide with a historical event

[B] To align with the financial year beginning in April

[C] To allow more time for public consultation

[D] To commemorate a national holiday

Answer –[B] To align with the

5. Who is responsible for producing the budget according to the given

D) Department of Economic Affairs

D) Department of Economic Affairs

Budget division of the Department of

6. What are the two key bills related to the presentation of

[A] Finance bill and Revenue bill

[B] Appropriation bill and Finance bill

[C] Budget bill and Expenditure bill

[D] Economic bill and Appropriation bill

Answer – [B] Appropriation bill and Finance bill

8. Which budget, presented separately for 92 years, has been

[A] Defense Budget

[B] Rail Budget

[C] Health Budget

[D] Education Budget

Answer – [B] Rail Budget

The government, in 2016, decided to merge

The late Arun Jaitley, the then Finance

9. Who changed the tradition of announcing the Union Budget at

[A] Manmohan Singh

[B] Yashwant Sinha

[D] Pranab Mukherjee

Answer – [B] Yashwant Sinha

10. What milestone is Union Finance Minister Nirmala

[A] Fourth consecutive budget

[B] Fifth consecutive budget

[C] Sixth consecutive budget

[D] Seventh consecutive budget

Answer –[C] Sixth consecutive budget

[B] Pranab Mukherjee

[C] Morarji Desai

[D] Yashwant Sinha

Answer –[C] Morarji Desai

Morarji Desai leads with 10 budgets

12. Who succeeded Morarji Desai as the Finance Minister and

[A] Nirmala Sitharaman

[B] Arun Jaitley

[C] Sushma Swaraj

[D] Indira Gandhi