BUDGET 2013-14 PRACTICE QUESTIONS

1)Pavan Kumar Bansal represents, which of the following Constituencies? 1. Amritsar 2. Ahmedabad 3. Chandigarh 4. Sangrur

2)Which of the following state has been bought into the railway net work for the first time?    1. Manipur 2. Assam 3. Tripura 4. Arunachal Pradesh

3)A8ording to Railway Budget Freight earning to go by?1. 7% 2. 8%3. 9% 4. 10%

4)Which of the following is true? 1. Steep increase in input costs have been met with hike in Freight rates2. Indian Railways is aware of the problems of the IRCTC website, and will create a next generation e-ticketing system by end of this year, Bansal said.3. Aadhar can be helpful for Railways in much respect, from booking tickets to tracking pension of rail employees.4. All the above

5)Railway Minister has said that a special luxury coach, with the best of ameneties, will run, in selected trains and named it as? 1. Anubhuti 2. Safety3. Vikas 4. Samardh

6)The amount allocated by Planning commi-ssion (budgetary support to Railways)? 1. 3.19 lakhs 2. 4.19 lakhs3. 5.19 lakhs 4. 6.19 lakhs

7)Which of the following is true about Indian Railways? 1. Railways were first introduced to India in 1853 from Bombay to Thane.2. In 1951 the systems were nationalized as one unit, the Indian Railways3. Indian Railways is the worlds ninth largest commercial or utility employer4. All the above

8)The Rail Neer Bottling plants would be set up in 1. Vijayawada, Mumbai, Lalitput, Bilaspur, Patna, Ahmedabad2. Ahmedabad, Jaipur, Vijayawada, Nagpur, Lalitpur, Bilaspur3. Bilaspur, Vijayawada, Kolkata, Nanded, Lalitpur, Jaipur4. Nanded, Kolkata, Vijayawada, Ludhiana, Lalitpur, Jaipur

9)Which of the following is/are true as per new Railway budget? 1. Year hike of 5% of charges proposed for 10 years2. In future, ticket charge may be indexed to fuel price3. Train protection warning in automatic systems will be introduced4. All the above

10)How much percentage of RPF vacancies reserved for women?     1. 10% 2. 15% 3. 20% 4. 25%

11)Which of the following is true about recent General Budget 2013-14? 1. The total expenditure for 2013-14 is the Rs 16, 65, 2972. The plan expenditure is the Rs 5, 55, 322 crore3. Non-plan expenditure Rs 11, 09, 975crore4. All the above

12)Which of the following is true? 1. Chidambaram presented the his eighth Annual budget in Parliament, second highest by any other in the country2. It was 82nd Budget, which includes interim and special-situation budgetary proposals3. Former Prime Minister Morarji Desai presented budget for 10 times.4. All the above

13)How much is allocated for Nirbhaya fund? 1. Rs 800 crore 2. Rs 900 crore 3. Rs 1000 crore 4. Rs 1100 crore

14)How many private radio FM stations will be covered in this financial year? 1. 289 2. 290 3. 291 4. 292

15)The first Independent India’s budget was presented by? 1. Morarji Desai 

2. Shankumham chetty 3. Deshmukh 4. Nehru

16)Income limit for tax saving Rajiv Gandhi Equity Savings scheme is raised to Rs 12 lakh from? 1. Rs 8 lakh 2. Rs 9 lakh3. Rs 10 lakh 4. Rs 11 lakh

17)Which of the following is true? 1. Rs 532 crore to make post offices part of core banking2. Proposal to launch inflation indexed bonds or inflation indexed national security certificates to protect savings from inflation3. India’s first women’s bank as a PSU proposed, Rs 1000 crore working capital announced4. All the above

18)How much amount is allocated for Drinking water and Sanitation? 1. Rs 80, 194 crore 2. Rs 81, 194 crore3. Rs 82, 194 crore 4. Rs 83, 195 crore

19)In which of the following place an Institute for agricultural Bioteechnology will be set up?1. Patiala 2. Ahmedabad 3. Ranchi 4. Patna

20)As per Economic Survey the India’s economy expected to grow between 6.1% to 1. 6.5% 2. 6.6% 3. 6.7% 4. 6.8%

21)Inflation expected to fall between 6.2% and by March? 1. 6.6% 2. 6.7% 3. 6.8% 4. 6.9%

22)As per survey report, which of the following sector amounted for the largest share? 1. Health 2. Sports3. Education 

4. Employment

23)A8ording to survey, the food inflation mainly driven by 1. Cereal Prices 2. Subsidies 3. Oil 4. None of these

24)As per Economic Survey, which of the following is true about Indian Tourism? 1. The Indian tourism sector needs an urgent image makeover and higher investment in infrastructure, including through Public-Private Partnership2. Global tourist arrivals are expected to increase by 43 million every year on an average from 2010 to 2030.1. Only 1 correct 2. Only 2 correct3. Both correct 4. Both wrong

25)Which of the following is true as per Economic survey, tabled in the parliament?1. As per 12th Five Year Plan approach paper, Indias travel and tourism sector is estimated to create 78 jobs per million rupees of investment compared to 45 jobs per million rupees in the manufacturing sector2. As per Tourism Satellite A8ount (TSA) data 2009-10, the contribution of tourism to Indias GDP was 6.8 per cent (3.7 per cent direct and 3.1 per cent indirect) and its contribution to total employment generation was 10.2 percent3. At present Indian Tourism has a paltry share of 0.64 per cent in world tourist arrivals4. All the above

26)Who among the following is the Chief advisor to the Finance Minister? 1. Rangarajan 2. Raghuram Rajan3. Kaushik Basu 4. Shome

27) The Economic Survey says that the Fiscal Deficit in Financial Year 2013, to be contained at? 1. 5.1% 2. 5.2% 3. 5.3% 4. 5.4%

28)Fiscal Consolidation road map says that deficit at 3% by Financial year?     1. 2014 2. 2015 3. 2016 4. 2017

ANSWERS:

1) 3 2) 4 3) 3 4) 4 5) 1 6) 3 7) 4 8) 2 9) 4 10) 1 11) 4 12) 4 13) 3  14) 1 15) 2 16) 3 17) 4 18) 1 19) 3 20) 3  21) 1 22) 3 23) 1  24) 3 25) 4 26) 2 27) 3 28) 4

Indian Economy Objective Questions with Answers

1. In which of the following states India’s largest tea is produced ?(A) Tamil Nadu (B) Assam(C) Karnataka (D) KeralaAnswer: Assam

2. Bilateral trade between India and Europe is expected to touch level of $ …… billion by 2010.(A) 50 (B) 75(C) 100 (D) 110Answer: 100

3. How many members are there in APEC (Asia-Pacific Economic Co-operation) ?(A) 20 (B) 21(C) 25 (D) 27Answer: 21

4. When did we start our First Five Year Plan ?(A) August 15, 1947(B) April 1, 1950(C) April 1, 1951(D) January 26, 1952Answer: April 1, 1951

5. Which of the following states in India has produced maximum foodgrains ?(A) Punjab(B) Andhra Pradesh(C) Uttar Pradesh

(D) HaryanaAnswer: Uttar Pradesh

6. Who has written the book “My Country My Life” ?(A) Indira Gandhi(B) Rajgopalachari(C) Baljeet Singh(D) Lal Krishna AdvaniAnswer: Lal Krishna Advani

7. Who was the Chairman of 13th Finance Commission? (A) Vijay L. Kelkar(B) C. Rangrajan(C) Deepak Pareek(D) Indira BhargavaAnswer: Vijay L. Kelkar

8. RBI holds……equity in National Housing Bank.(A) 50% (B) 60%(C) 75% (D) 100%Answer: 100%

9. The most active and sensitive part of the organised money market is the—(A) Call money market(B) Treasury bill market(C) Commercial bill market(D) Gilt-edged marketAnswer: Call money market

10. Reserve Bank of India, established on 1st April, 1935, was originally constituted as a shareholders, institution with a share capital of—(A) Rs. 5 crore (B) Rs. 7 crore(C) Rs. 9 crore (D) Rs. 10 croreAnswer: Rs. 5 crore

11. Which one of the following countries has achieved growth rates exceeding 9% for the last two to three decades ?(A) India(B) China(C) USA(D) None of the aboveAnswer: China

12. Which of the following is not a Tax ?(A) MAT (B) SAT(C) GST (D) VATAnswer: SAT

13. “The Future of India” book is written by—(A) R. N. Malhotra (B) Jagdish Mukhi(C) M. S. Ahluwalia (D) Bimal JalanAnswer: Bimal Jalan

14. The National Stock Exchange functions from—(A) Mumbai (B) Kolkata(C) New Delhi (D) ChennaiAnswer: Mumbai

15. For a study of the long-term growth of the economy we use—(A) Personal Income(B) Disposable Income(C) Money GNP(D) Real GNPAnswer: Real GNP

16. What is the purpose of the India Brand Equity Fund ?(A) To make ‘Made in India’ a label of quality(B) To promote in bound tourism(C) To organise trade fairs(D) To provide venture capital to IT sector

Answer: To make ‘Made in India’ a label of quality

17. Under the Gadgil-Mukherjee Formula, which criterion gets highest weight ?(A) Population(B) Tax Effort and Fiscal Discipline(C) Income Distance(D) AreaAnswer: Income Distance

18. How much amount has been proposed for defence expenditure in the budget for 2011-12?(A) Rs. 164000 crore (B) Rs. 141703 crore(C) Rs. 157344 crore (D) Rs. 137344 croreAnswer: Rs. 164000 crore

19. How many additional services have been brought under service tax in the budget for 2011-12 ?(A) 06 (B) 07(C) 04 (D) 10Answer: 04

20. How much custom duty is to be paid on 10 gram of gold as per 2010-11 budget ?(A) Rs. 100 (B) Rs. 200(C) Rs. 300 (D) Rs. 500Answer: Rs. 300

21. ‘Innovation Lab’ has been launched by—(A) Tata Consultancy Services(B) Infosys Tech(C) Reliance Industries(D) Anil’s Reliance CommunicationsAnswer: Tata Consultancy Services

22. “Development and Climate Change” is the theme of—(A) Human Development Report 2010

(B) World Development Report 2010(C) World Development Report 2009(D) World Development Report 2008Answer: World Development Report 2010

23. As per the latest WTO report, the biggest exporter country in the world during 2007 was—(A) Germany (B) USA(C) China (D) JapanAnswer: USA

24. As per the latest WTO report, the biggest importer country in the world during 2007 was—(A) Germany (B) USA(C) China (D) JapanAnswer: USA

25. The state having the lowest Maternal Mortality Rate is—(A) Tamil Nadu (B) Maharashtra(C) Kerala (D) GujaratAnswer: Kerala

26. Which of the following organisation publishes World Investment Report ?(A) WTO (B) UNCTAD(C) IMF (D) IFCAnswer: UNCTAD

27. The proposed Steel Plant of POSCO (Pohang Steel Company) is to be established in Jagatsinghpur distt. of Orissa. To which country POSCO belongs ?(A) USA (B) South Africa(C) South Korea (D) ChinaAnswer: South Korea

28. Who is the richest Resident Indian in the latest estimates of Economic Magazine ‘Forbes’ 2010 released in April 2010 ?(A) Azim Premji(B) Mukesh Ambani(C) Anil Ambani(D) Luxmi MittalAnswer: Mukesh Ambani

29. When was National Saving Scheme (NSS)-92 abolished ?(A) Nov. 1999 (B) Nov. 2002(C) Nov. 1, 2001 (D) Nov. 2003Answer: Nov. 1, 2001

30. In which nation, the two day summit of Finance Ministers of G-20 nations was held in October 2010 ?(A) India (B) China(C) South Korea (D) CanadaAnswer: South Korea

31. Which is correct for Foreign Trade Policy 2009-14 ?(A) The benefit of ECGC Plan is extended till 2010(B) DEPB Scheme extended till May 2012(C) Export Target has been set for 2010-11 at $ 260 billion(D) None of the aboveAnswer: The benefit of ECGC Plan is extended till 2010

32. ‘Micro-finance Bill’ 2007 is concerned with—(A) Regional Rural Banks(B) Co-operative Banks(C) NABARD(D) All the aboveAnswer: NABARD

33. Moradabad has retaining its first rank in handicrafts exports. Which city comes at second rank ?

(A) Ludhiana (B) Tirupur(C) Panipat (D) JodhpurAnswer: Jodhpur

34. According to China’s Xinhua News agency, China earned $ 33•5 billion from tourism during 2006 and acquired……place in earning the highest tourism revenue in the world. (A) Second (B) Fourth(C) Sixth (D) TenthAnswer: Sixth

35. Former President Mr. A.P.J. Abdul Kalam gave a call for…… per cent GDP growth rate to uplift Indian population below the poverty line.(A) 9% (B) 10%(C) 11% (D) 12%Answer: 10%

36. OPEC (Organisation of Petroleum Exporting Countries) is an organisation of how many countries ?(A) 13 (B) 12(C) 11 (D) 10Answer: 11

37. Which of the following Five Year Plan has achieved its growth targets ?(A) 8th Plan(B) 9th Plan(C) 10th Plan(D) None of the aboveAnswer: 8th Plan

38. Capital Output Ratio of a commodity measures—(A) Its per unit cost of production(B) The amount of capital inverted per unit of output(C) The ratio of capital deficiency to quantity of output

(D) The ratio of working capital employed to quantity of outputAnswer: The amount of capital inverted per unit of output

39. Name the company which has signed a production sharing contract with the government for exploratory rights to two new land blocks in Tripura and Cavery Basin.(A) OIL (B) IOC(C) GAIL (D) ONGCAnswer: ONGC

40. As per 2011-12 budget the CENVAT has been fixed at—(A) 8% (B) 9%(C) 10% (D) 12%Answer: 10%