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Union Budget 2022-23

Total questions: 76

Worksheet time: 38mins

Name
Class
Date
1.

The Government presented the Union Budget of India 2022 also referred to as the Annual Financial Statement in Article 112 of the Constitution of India on the first day of February. Until ___________ it was presented on the last working day of February by the finance minister in Parliament.

a)

2016

b)

2017

c)

2015

d)

2018

e)

2014

2.

Budgeted Estimate (BE) of total expenditure in FY 2022-2023 is ________________ as compared to Revised Estimate (RE) of Rs 37,70,000 cr in FY22. This is an increase of _________ over the RE of 2021-22.

a)

Rs 37,50,305 cr, 4.6%

b)

Rs 37,70,000 cr, 5.2%

c)

Rs 39,44,909 cr, 4.6%

d)

Rs 39,90,100 cr, 5.2%

e)

Rs 38,28,250 cr, 4.4%

3.

How much Fiscal Deficit (as % of GDP) is projected in the Union Budget 2022-23 for FY23?

a)

7.3%

b)

7.5%

c)

6.9%

d)

6.4%

e)

6.7%

4.

How much worth of total receipts (other than borrowings) were estimated for FY 2022- 2023?

a)

Rs 22,83,713 cr

b)

Rs 21,78,911 cr

c)

Rs 34,83,236 cr

d)

Rs 27,39,163 cr

e)

None of these

5.

Consider the following statements regarding Capital expenditure (Capex) in Union Budget 2022-23:

1. Government has made highest allocation to capex till date.

2. It is more than double of the outlay in 2019-2020.

3. Effective Capital Expenditure’ of the Central Government is estimated to be 4.1% of GDP.

Which of the statements given above is/are correct?

a)

1 and 2 only

b)

1 and 3 only

c)

2 and 3 only

d)

2 only

e)

All of the above

6.

Consider the following statements about PM Fasal Bima Yojana.

1. The scheme was compulsory for all farmers for notified crops in an area.

2. The prescribed premium is 5% to be paid by farmers for all notified crops.

3. It provides a comprehensive insurance cover against failure of the crop thus helping in stabilising the income of the farmers.

Which of the statement/s given above is/are not correct?

a)

1 and 2 only

b)

2 and 3 only

c)

1 and 3 only

d)

1 only

e)

None of these

7.

The Union Minister for Finance & Corporate Affairs, Smt. NirmalaSitharaman tabled the Union Budget 2022-23 in Parliament on February01, 2022. Union budget 2022-23 was ___________ union budget of India.

a)

90th

b)

91th

c)

92nd

d)

93rd

e)

94th

8.

Which of the following Ministries has been allotted Rs. 1403.67 Billion in the union budget 2022-23?

a)

Ministry of Communications

b)

Ministry of Railways

c)

Ministry of Home Affairs

d)

Ministry of Road Transport and Highways

e)

Ministry of MSME

9.

How much amount (in Billion) is allocated to the Ministry of Road, Transport and Highways in the Union Budget 2022-23?

a)

Rs. 1991.07

b)

Rs. 1054.07

c)

Rs. 8991.07

d)

Rs. 2176.67

e)

Rs. 5251.66

10.

Effective Capital Expenditure of the Central Government is estimated at what percent of GDP?

a)

4.1%

b)

4.2%

c)

4.3%

d)

4.4%

e)

4.5%

11.

As per the Union Budget 2022-23, which among the following portals will be interlinked and their scope will be widened?

a)

Udyam, e-Shram, NCS and RBI

b)

Udyam, e-Shram, NSDL and ASEEM

c)

Udyam, e-Shram, NCS and ASEEM

d)

Udyam, UIDAI, NCS and ASEEM

e)

Udyam, NABARD, NCS and ASEEM

12.

The new “Vibrant Villages Programme” will cover the development of villages on the ____________.

a)

Northern Border

b)

Southern Border

c)

Eastern Border

d)

Western Border

e)

None of these

13.

As per the Budget 2022-2023, ___________ of 1.5 lakh post offices to come under Core Banking System in 2022.

a)

25%

b)

50%

c)

75%

d)

100%

e)

None of these

14.

As per the Budget 2022-23 presented by the Finance Minister Nirmala Sitharaman the government will establish the “Centre for Processing Accelerated Corporate Exit (C-PACE)” for speedy winding-up of companies from the currently required 2 years to less than _____ months.

a)

One

b)

Two

c)

Six

d)

Four

e)

Five

15.

As per the Union Budget 2022-2023, the government will promote thematic funds for blended finance with the government’s share being limited to _______ to encourage important sunrise sectors.

a)

25%

b)

20%

c)

15%

d)

30%

e)

10%

16.

Which of the following will be set up in the GIFT City for timely settlement of disputes under international jurisprudence?

a)

International Committee

b)

International Court

c)

International Council

d)

International Arbitration Centre

e)

None of these

17.

As per the union Budget 2022-2023, How much % of annual collections under the Universal Service Obligation Fund will be allocated to promote R&D and commercialization of technologies and solutions?

a)

7%

b)

5%

c)

4%

d)

8%

e)

3%

18.

According to Union Budget 2022-23, Which of the following is Correct regarding road transport?

a)

National Highways Network to be expanded by 5000 Km in 2022-23.

b)

Rs 40000 Crore to be mobilized for National Highways Network expansion.

c)

Multimodal Logistics Parks

d)

Contracts to be awarded through public mode in 2022-23 for implementation of Multimodal Logistics Parks at four locations

e)

None of these

19.

Which Central Government Ministry has observed the highest annual increase in budgetary allocation for FY23 over RE2021-22?

a)

Ministry of Defence

b)

Ministry of Consumer Affairs, Food and Public Distribution

c)

Ministry of Jal Shakti

d)

Ministry of Communications

e)

None of these

20.

Ministry of Defence has the highest allocation in 2022-23, at ______________. It accounts for _______ of the total budgeted expenditure, followed by Consumer Affairs, Food and Public Distribution, Road Transport and Highways, and Home Affairs.

a)

Rs 5,25,166 crore, 13.3%

b)

Rs 5,25,166 crore, 11.3%

c)

Rs 5,27,194 crore, 11.3%

d)

Rs 5,27,194 crore, 13.3%

e)

Rs 5,21,138 crore, 12.7%

21.

For which Central Government scheme, the highest allocation of funds is proposed in the Union Budget of FY23?

a)

POSHAN 2.0

b)

MGNREGS

c)

PM-KISAN

d)

AMRUT

e)

None of these

22.

Which of the following is not the component of part A of the Union Budget 2021-22?

a)

Health and Wellbeing

b)

Innovation and R&D

c)

Ease of taxation

d)

Reinvigorating Human Capital

e)

Physical & Financial Capital, and Infrastructure

23.

PM GatiShakti has received it’s first-ever outlay of Rs 20,000 crore in FY23 for integrated planning and coordinated implementation of infrastructure connectivity projects. It is premised upon 7 parameters. Which of the following is not among the 7 parameters mentioned above?

a)

Roads

b)

Railways

c)

Waterways

d)

Mass Transport

e)

Digital Infrastructure

24.

How much amount is budgeted towards welfare of women in BE 2022-23?

a)

Rs 80,003 cr

b)

Rs 1,71,006 cr

c)

Rs 1,39,956 cr

d)

Rs 87,473 cr

e)

None of these

25.

Which of the following is a part of the 4 prioritized sectors of FY23 budget?

a)

Education advancement

b)

Inclusive Development

c)

Technological Development

d)

Women Empowerment

e)

None of these

26.

The concept of ‘One Station One Product’ concept will help local businesses & supply chains. ___________ of railway network to be brought under Kavach with the indigenous world class technology and capacity augmentation in 2022-23. _________ new generation Vande Bharat Trains to be manufactured during the next three years.

a)

2000 Km, 400

b)

2500 Km, 400

c)

2000 Km, 500

d)

2500 Km, 500

e)

2500 Km, 450

27.

National Ropeways Development Program, Parvatmala will be taken up on PPP mode(public-private partnership ) for ecologically sustainable alternative to conventional roads in difficult hilly areas. Contracts to be awarded in 2022-23 for _______ ropeway projects of ____________ length.

a)

8, 60 Km

b)

10, 60 Km

c)

10, 50 Km

d)

8, 50 Km

e)

10, 75 Km

28.

How many locations will be covered under the Multi-Modal Logistics Parks (MMLPs)?

a)

4

b)

5

c)

6

d)

7

e)

3

29.

How much amount has been allocated towards the India’s first river interlinking project, connecting Ken river in Madhya Pradesh with Betwa in Uttar Pradesh?

a)

Rs 40,000 cr

b)

Rs 44,605 cr

c)

Rs 50,855 cr

d)

Rs 55,600 cr

e)

None of these

30.

The Ken-Betwa Link Canal will be ___________ long, including a 2-km long tunnel. It foresees the transferring water from the Ken River to the Betwa river, both tributaries of the Yamuna.

a)

229 km

b)

225 km

c)

221 km

d)

233 km

e)

217 km

31.

Under Phase-I, one of the components — ‘Daudhan dam’ on the Ken river in Madhya Pradesh’s Chhatarpur district, inside the Panna Tiger Reserve and its appurtenances like Low Level Tunnel, High Level Tunnel, Ken-Betwa link canal and Power houses will be completed. Panna Tiger Reserve was included in the global network of biosphere reserves by the United Nations Educational, Scientific and Cultural Organisation (UNESCO) in ___________.

a)

2020

b)

2021

c)

2019

d)

2018

e)

2017

32.

What is the full form of DESH-Stack, an e-portal that’s launch was announced during Union Budget?

a)

Digital Ecosystem for Space and Housing

b)

Digital Ecosystem for Skilling and Livelihood

c)

Digital Era for Space and Life

d)

Digital Education in Science and Law

e)

Digital Ecosystem for Skilling and Housing

33.

One class-One TV channel’ programme of PM eVIDYA to be expanded to ________ TV channels from 12 to provide supplementary education in regional languages for classes _________

a)

200, 1-12

b)

100, 3-8

c)

200, 6-12

d)

150, 3-8

e)

100, 1-12

34.

What is the allocation towards education in the Union Budget of 2023?

a)

Rs 1,01,300cr

b)

Rs 1,12,000cr

c)

Rs 1,08,189cr

d)

Rs 1,04,278cr

e)

None of these

35.

National Tele Mental Health programme will be included with a network of ______ tele mental health centres of excellence. NIMHANS will be the nodal centre, and ______________ will provide technological support for this mental health programme.

a)

23, IIIT Bangalore

b)

25, IIIT Allahabad

c)

28, IIIT Bhubaneswar

d)

21, IIIT Hyderabad

e)

27, IIIT Lucknow

36.

How much funds has been allocated in 2022-23 to provide running tap water for every household?

a)

Rs 30,000cr

b)

Rs 45,000cr

c)

Rs 60,000cr

d)

Rs 70,000cr

e)

None of these

37.

How much funds have been allocated under the PM Awas Yojana in 2022-23?

a)

Rs 48,000cr

b)

Rs 37,383cr

c)

Rs 25,000cr

d)

Rs 51,689cr

e)

None of these

38.

How much percentage of the capital procurement budget has been earmarked for domestic industry in 2022-23 to reduce the imports in equipment for the armed forces?

a)

68%

b)

49%

c)

54%

d)

72%

e)

59%

39.

PARIVESH, a single window portal for all green clearances was launched in ___________, will now be expanded, to provide information to the applicants. It will enable application for all four approvals through a single form, and tracking of the process through Centralized Processing Centre-Green (CPC-Green)

a)

2018

b)

2019

c)

2017

d)

2020

e)

2016

40.

As per the proposal in the Union Budget which entity will be set up for speedy winding-up of companies?

a)

Centre for Processing Accelerated Corporate Exit

b)

Centre for Winding up of Corporate

c)

Centre for Corporate Liquidation Process

d)

Centre for Corporate Closure

e)

None of these

41.

_____________ compliances were reduced and _________ Union laws were repealed towards strong commitment for ‘minimum government & maximum governance’, our trust in the public, and ease of doing business (EODB).

a)

25,000 & 1486

b)

20,000 & 1864

c)

25,000 & 1468

d)

25,000 & 1684

e)

20,000 & 1846

42.

Unique Land Parcel Identification Number (ULPIN) for IT-based management of land records. The adoption or linkage with National Generic Document Registration System (NGDRS) with the ‘One-Nation One-Registration Software’ will be promoted. How many digits are there in the ULPIN?

a)

14

b)

12

c)

9

d)

10

e)

13

43.

In which year that the Central Government plant to complete the laying optical fibre in all villages under the Bharatnet project?

a)

2022

b)

2023

c)

2024

d)

2025

e)

None of these

44.

How much additional allocation will be provided for PLI for manufacturing of high efficiency solar modules/Solar Photovoltaics (PV)?

a)

Rs 12,000cr

b)

Rs 39,449cr

c)

Rs 22,044cr

d)

Rs 19,500cr

e)

Rs 23,100cr

45.

The capital expenditure proposed for public investment by the Central Government is how much percent of GDP?

a)

1.8%

b)

2.9%

c)

3.2%

d)

3.8%

e)

2.5%

46.

The amount raised from 10,000 crores to __________ crores towards the ‘Scheme for Financial Assistance to States for Capital Investment’.

a)

Rs 12,000cr

b)

Rs 14,000cr

c)

Rs 15,000cr

d)

Rs 16,000cr

e)

Rs 13,000cr

47.

The collections from income tax are expected to increase by 14% in 2022-23 to _______________. While the collections from taxes on companies are expected to increase by 13% in 2022-23 to Rs 7,20,000 crore.

a)

Rs 6,60,000cr

b)

Rs 5,61,000cr

c)

Rs 7,00,000 cr

d)

Rs 6,00,000 cr

e)

Rs 7,50,000 cr

48.

The disinvestment target for 2022-23 is _____________.

a)

Rs 80,000 crore

b)

Rs 65,000 crore

c)

Rs 70,000 crore

d)

Rs 75,000 crore

e)

Rs 60,000 crore

49.

Which new section is proposed to be included in Section 139 under the Income Tax Act, 1961 for the introduction of updated return?

a)

sub-section (6C)

b)

sub-section (8A)

c)

sub-section (7B)

d)

sub-section (5E)

e)

None of these

50.

Alternate Minimum Tax paid by cooperatives brought down from 18.5% to 15%. It has also proposed to reduce co-operative surcharge from 12% to _______ for those having total income of more than Rs 1 crore and up to Rs 10 crores.

a)

7%

b)

9%

c)

10%

d)

5%

e)

8%

51.

In order to bring State Government employees at par with central government employees, the tax deduction limit increased from 10% to _______ on employer’s contribution to the NPS account of state government employees.

a)

16%

b)

13%

c)

15%

d)

14%

e)

12%

52.

By which date, the last date for commencement of manufacturing or production by new domestic manufacturing companies is extended?

a)

March 31, 2023

b)

March 31, 2024

c)

July 1, 2023

d)

July 1, 2024

e)

September 2023

53.

Section 115BAB of IT ACT 1961 provides an option of concessional rate of taxation at the rate of _________ for new domestic manufacturing companies, provided that they do not avail themselves of any specified incentives.

a)

15%

b)

10%

c)

20%

d)

25%

e)

5%

54.

To undertake reforms in Customs Administration of SEZ, which of the following law will be replaced with new legislation?

a)

SEZ Amendment Rules, 2013

b)

SEZ ACT, 2005

c)

SEZ Rules, 2006

d)

SEZ Amendment Rules, 2010

e)

None of these

55.

To encourage the efforts for blending of fuel, unblended fuel shall attract an additional differential excise duty of ___________ from October 1, 2022.

a)

Rs2/ litre

b)

Rs3.5/ litre

c)

Rs2.5/ litre

d)

Rs1.5/ litre

e)

Rs3/ litre

56.

Customs duty on cut and polished diamonds and gemstones is being reduced to ______. To disincentivize import of undervalued imitation jewellery, the customs duty on imitation jewellery is being prescribed in a manner that a duty of at least __________ per Kg is paid on its import.

a)

5%, 400

b)

4%, 400

c)

4%, 500

d)

5%, 300

e)

5%, 500

57.

____________ has been allocated for COVID-19 vaccines in the Union Budget 2022-23.

a)

₹1,000 crore

b)

₹2,000 crore

c)

₹5,000 crore

d)

₹7,500 crore

e)

₹10,000 crore

58.

Union Budget ___________ is known as the “Black Budget” of India as the budget deficit rose to Rs 550 crore.

a)

1973-74

b)

2000-2001

c)

1991-1992

d)

1997-98

e)

None of these

59.

Afganistan will receive Rs.200 crore as development assistance. Apart from this, the Central Government disbursed Rs.100 crore for the ____________ port project.

a)

Bushehr

b)

Cyrus Terminal

c)

Chabahar

d)

Kish Island

e)

None of these

60.

As per the Union Budget 2022, procurement of how much metric tonnesofwheat and paddy is estimated in 2021-22?

a)

1198 lakh

b)

1088 lakh

c)

1256 lakh

d)

1208 lakh

e)

1918 lakh

61.

Chemical-free Natural Farming will be promoted throughout the country, with a focus on farmer’s lands in _________ wide corridors along river Ganga, at the first stage. To reduce dependence on import of oilseeds, a rationalized and comprehensive scheme to increase domestic production of oilseeds will be implemented.

a)

5-km

b)

20-km

c)

25-km

d)

10-km

e)

15-km

62.

How much amount has been allotted for the implementation of the Ken–Betwa link project?

a)

1000 crore

b)

1200 crore

c)

1400 crore

d)

1800 crore

e)

2000 crore

63.

How much funds has been allocated in 2022-23 for National Health Mission (NHM)?

a)

₹ 37,800 cr

b)

₹ 39,553 cr

c)

₹ 20,263 cr

d)

₹ 48,000 cr

e)

₹ 14,236 cr

64.

As per the Union Budget 2022, how much additional credit for MSMEs will be facilitated under the Credit Guarantee Trust for Micro and Small Enterprises(CGTMSE)?

a)

Rs. 1 Lakh Crore

b)

Rs. 2 Lakh Crore

c)

Rs. 3 Lakh Crore

d)

Rs. 4 Lakh Crore

e)

Rs. 5 Lakh Crore

65.

How many Anganwadis will be upgraded as Saksham Anganwadis for integrating benefits to women and children?

a)

50 Thousand

b)

1 Lakh

c)

2 Lakh

d)

4 Lakh

e)

5 Lakh

66.

Which of the following categories does not come under the Sunrise opportunity as per the Union Budget FY23?

a)

Artificial Intelligence

b)

Space Economy

c)

Green Economy

d)

Semiconductor and its eco-system

e)

Clean Mobility Systems

67.

How much amount has been allocated in 2022-23 to assist the states in catalysing overall investments in the economy?

a)

Rs. 4 lakh crore

b)

Rs. 3 lakh crore

c)

Rs. 2 lakh crore

d)

Rs. 1 lakh crore

e)

Rs. 50 thousand crore

68.

As per the Union Budget 2022, for the year 2022-23, States will be allowed a fiscal deficit of 4% of GSDP, of which ________ will be tied to power sector reforms.

a)

0.5%

b)

1.0%

c)

1.5%

d)

2.0%

e)

2.5%

69.

The surcharges on cooperative societies reduced to 7 percent for those having total income in which of the following ranges?

a)

Rs. 50 lakhs – Rs. 10 crore

b)

Rs. 50 lakhs – Rs. 50 crore

c)

Rs. 1 crore – Rs. 10 crore

d)

Rs. 10 crores – Rs. 100 crore

e)

Rs. 1 crore – Rs. 100 crore

70.

For how many year state governments will be provided interest free loans above normal borrowings?

a)

10

b)

25

c)

50

d)

75

e)

No such announcement

71.

Which of the following conditions were not made under tax exemption to IFSC during union budget FY23?

a)

Income of a non-resident from offshore derivative instruments

b)

Income from over the counters derivatives

c)

Income received from Interest

d)

Income from royalty

e)

Income received from portfolio management

72.

A person giving benefits to someone has to pay TDS, if the aggregated value of such benefits exceeds how much during the financial year?

a)

Rs. 20,000

b)

Rs. 25,000

c)

Rs. 40,000

d)

Rs. 50,000

e)

Rs. 1,00,000

73.

What percent of tariff in capital goods and project imports has been introduced to conducive the growth of domestic sector?

a)

1%

b)

2.5%

c)

5%

d)

7.5%

e)

10%

74.

How many exemption entries has been proposed by the government for custom exemptions and tariff simplification?

a)

100

b)

350

c)

500

d)

750

e)

900

75.

How much fund is allocated to the Aatmanirbhar Bharat Rojgar Yojana in the Union Budget 2022-23?

a)

Rs. 10,000 crore

b)

Rs. 39,553 crore

c)

Rs. 6,800 crore

d)

Rs. 19,000 crore

e)

Rs. 6,400 crore

76.

How much fund is allocated to the Pradhan Mantri Swasthya Surakhsha Yojana in the Union Budget 2022-23?

a)

Rs. 10,000 crore

b)

Rs. 39,553 crore

c)

Rs. 6,800 crore

d)

Rs. 19,000 crore

e)

Rs. 6,400 crore