Union Budget Quiz - How Much Do You Know About Our Designated National Ledger?

Feb 3, 2021 6:44 PM 5 min play

It's that time of the year when the Minister of Finance rallies into the Parliament with the top financial document of the country in her hands - The Budget!

The Budget is the chief accounting document of a nation's financials. It gives an idea and estimate into the prevailing, ongoing and projected financial landscape of the country. 

So, how much do you know about the latest 2021-22 Budget that was presented recently?

Quiz away to find out.

But, before that, help yourself to a quick preview of what lies in store for you!

  1. India's post-pandemic budget is estimated to have a deficit of ____%, which is surprisingly higher than analysts' expectations and forecasts.
  2. Which of the following is not a strategic sector of the Indian economy as per the definition given by DIPAM?
  3. In a defining step, the FM announced the exemption of senior citizens who have only pension and interest incomes, from filing Income Tax returns. However, the scheme only applies to senior citizens over what age?
  4. When it comes to Government earnings, the following sequence depicts the four largest sources of these earnings in decreasing order: I - Borrowings (36%), II - Income Tax (15%), III - GST (14%), IV - Corporation Tax (13%). True or False?
  5. Name the type of organisation proposed to be set up by the government with an initial infusion of ₹27,000cr ($3.7bn) capital to provide funds for new, stalled and work-in-progess infrastructure projects.
  6. The Government aims to increase health expenditure to what percentage of the GDP (from the current 1% level)?
  7. The Ministry of Agriculture and Farmers' Welfare received 5.63% more budget allocation at ₹1,31,531cr ($18bn) for 2021-22. Approximately half of this amount is targeted to be spent on which flagship agri-infra scheme of the Government?
  8. Which of the following is not one among the prominent PSUs whose divestments are scheduled to begin this year?
  9. X is an independent Government department that has been allocated a sum slightly less than ₹14,000cr. More than 60% of this sum has been earmarked for capital expenditure which also includes the formation of a new PSU. Name X.
  10. The Government announced a Voluntary Scrappage Policy which will require vehicle owners to conduct a fitness test after 20 years (15 for commercial use) of purchasing them. Who is supposed to cover the costs of this fitness test?


So how did you fare? Subscribe to TRANSFIN. E-O-D to be updated when the next Quiz goes live.