Economics (Part – VI) - Mock Test 365

Total Questions: 50

1. Which of the following ministries had the highest percentage increase in budgetary allocation for Budget 2020-21? [S.S.C. Online CHSL (T-I) 15.04.2021 (Shift-II)]

(a) Ministry of Housing and Urban Affairs
(b) Ministry of Agriculture and Farmers' Welfare
(c) Ministry of Communications
(d) Ministry of Home Affairs

Correct Answer: (c) Ministry of Communications

Solution:Among the top 13 ministries with the highest alloca-tions, the highest percentage increase is observed in the Ministry of Communications (129%), followed by the Ministry of Agriculture and Farmers' Welfare (30%) and the Ministry of Home Affairs (20%). In the budget 2023-24, the maximum increase (31% as compared to the revised estimate) has happened in the budget allocation of the Ministry of Jal Shakti.

2. As per Union Budget 2021, 9% of the government revenue will be spent on________. [S.S.C. Online CHSL (T-I) 5.08.2021 (Shift-II)]

(a) centrally sponsored schemes
(b) interest payments
(c) pensions
(d) defense

Correct Answer: (a) centrally sponsored schemes

Solution:As per Union Budget 2021, 9% of the government revenue will be spent on centrally sponsored schemes. As per the Union Budget 2023-24, 9 per cent will be spent on centrally sponsored schemes, 20 per cent on interest payments, 4 per cent on pensions and 8 per cent on defence.

3. As of the financial year 2017-18, which of the following was the largest jowar producing state in India? [S.S.C. Online CHSL (T-I) 13.04.2021 (Shift-III)]

(a) Maharashtra
(b) Bihar
(c) Punjab
(d) Assam

Correct Answer: (a) Maharashtra

Solution:As of the financial year 2017-18 and also in 2022, Ma-harashtra is the largest jowar producing state in India.

4. The Union Budget of India 2020-21 allocated an amount of________ crore for the education sector. [S.S.C. Online CPO S.I. (T-I) 23.11.2020 (Shift-I)]

(a) 283,600
(b) ₹99,300
(c) ₹78,700
(d) ₹95,800

Correct Answer: (b) ₹99,300

Solution:The Union Budget of India 2020-21 allocated an amount of 99,300 crore for the education sector.

The Union Cabinet in July 2020 approved the New Education Policy (NEP). This committee was headed by K Kasturirangan, who is former ISRO chief.
At present(2023), the Education minister is Dharmendra Pradhan.
The amount allocated to the education sector in the 2023 budget is 1,12,899.47 crore.

5. Which Indian budget introduced a statement highlighting the gender sensitivities of the budgetary allocations? [S.S.C. Online CGL (T-I) 02.12.2022 (Shift-II)]

(a) 2008-09
(b) 2010-11
(c) 2005-06
(d) 2001-02

Solution:Since 2005, the Union government releases the Gen-der Budgeting Statement consisting of two parts-

The first part reflects the women-specific schemes in which 100 percent allocation is only for women.
The second part reflects pro-women schemes in which 30% of the allocation is earmarked for women.

6. As announced in the Union Budget of Financial Year 2022, corporate surcharge was reduced from 12% to__________. [S.S.C. Online MTS (T-I) 12.07.2022 (Shift-III)]

(a) 7%
(b) 8%
(c) 1%
(d) 9%

Correct Answer: (a) 7%

Solution:As announced in the Union Budget of Financial Year 2022, Corporate surcharge to be reduced from 12% to 7%.

7. The Government of India imposed an Agriculture and Infrastructure Development Cess of_______ per litre on petrol through Union Budget 2021-22 [S.S.C. Online CGL (T-I) 21.04.2022 (Shift-I)]

(a) ₹3.5
(b) ₹3
(c) ₹2.5
(d) ₹4

Correct Answer: (c) ₹2.5

Solution:According to the Budget for 2021-22, a Rs 2.5 per li-ter Agriculture and Infrastructure Development Cess has been imposed on petrol and Rs 4 on diesel.

8. The Contingency Fund of India is to be augmented from ₹500 crores to________ crores through the Finance Bill as per the Union Budget 2021-22. [S.S.C. Online CGL (T-I) 20.04.2022 (Shift-III)]

(a) ₹10,000
(b) ₹30,000
(c) ₹25,000
(d) ₹15,000

Correct Answer: (b) ₹30,000

Solution:In the union budget of India 2021-22, a proposal to enhance the Contingency Fund of India from 2500 crore to 230,000 crores was introduced through a Finance Bill.

9. Which of the following states has the highest entrepreneurial activity in the infrastructure sector as per the Economic Survey 2019-20? [S.S.C. Online CHSL (T-I) 16.04.2021 (Shift-III)]

(a) Karnataka
(b) Uttar Pradesh
(c) Sikkim
(d) Jharkhand

Correct Answer: (d) Jharkhand

Solution:According to the Economic Survey 2019-20, the infrastructure sector has the highest entrepreneurial activity in the state of Jharkhand.

10. As per the Union Budget of 2021-22, how many textile parks are to be set up in 3 years? [S.S.C. Online CGL (T-I) 12.04.2022 (Shift-I)]

(a) Eight
(b) Six
(c) Five
(d) Seven

Correct Answer: (d) Seven

Solution:Finance Minister Nirmala Sitharaman made the an-nouncement while presenting the Budget 2021-22 in Parliament. A scheme of mega-investment textile parks will be launched in addition to the produc-tion-linked incentive (PLI) scheme. 7 mega tex-tile parks will be launched in 3 years as part of the scheme.

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Economics (Part – VI)