Most Important Questions of Union Budget 2021-22
1. In 2021-22 which company's IPO will be launched as a part of the Government's disinvestment strategy?
(a) Air India
(b) Life Insurance Corporation
(c) Indian Oil Corporation Ltd.
(d) Coal India Ltd.
Ans. B
2. The Budget 2021 allocation for the Indian Railways is
(a) Rs. 1,10,055 crore
(b) Rs. 1,15,000 crore
(c) Rs. 2,41,000 crore
(d) Rs. 2,05,984 crore
Ans. A
3. What is the amount for COVID-19 vaccine in Budget 2021?
(a) Rs 35,000 crore
(b) Rs 34,000 crore
(c) Rs 36,000 crore
(d) Rs 37,000 crore
Ans. A
4. The Budget 2021-22 increases the Agricultural Credit Target for FY22 to
(a) Rs 14.3 lakh crore
(b) Rs. 16.5 lakh crore
(c) Rs 18.4 lakh crore
(d) Rs 20.9 lakh crore
Ans. B
5. In the Union Budget 2021-22, how much funds are allocated for the health & wellbeing sector?
(a) Rs 2,23,846 crore
(b) Rs. 4,89,000 crore
(c) Rs. 2,95,000 crore
(d) Rs. 1,12,054 crore
Ans. A
6. According to Budget 2021-22, New Space India Limited will be established under
(a) Department of Science and Technology
(b) Indian Space and Research Organisation
(c) NITI Aayog
(d) Department of Space
Ans. D
7. Budget 2021-22 announced that Gaganyaan mission will be launched in
(a) November 2021
(b) January 2022
(c) December 2021
(d) December 2022
Ans. C
8. How much Agricultural Cess has been imposed on Petrol and Diesel in Union Budget 2021-22?
(a) Rs 1.5 and Rs. 3
(b) Rs. 2.5 and Rs. 4
(c) Rs. 2 and Rs. 4.5
(d) Rs. 3 and Rs. 5
Ans. B
9. In Budget 2021-22 the budget allocation for defence sector is
(a) Rs 4.78 lakh crore
(b) Rs. 5.24 lakh crore
(c) Rs. 3.89 lakh crore
(d) Rs. 6.47 lakh crore
Ans. A
10. In 15th Finance Commission ceiling of net borrowing for the states (of GSDP) is
(a) 5 percent
(b) 4 percent
(c) 7 percent
(d) 3 percent
Ans. A
11. How much budget allocation has been increased for the Ministry of Women and Child Development in Union budget 2021-22?
(a) 10 percent
(b) 15 percent
(c) 25 percent
(d) 32 percent
Ans. B
12. The budget allocation for Ministry of Home Affairs in Union Budget 2021-22 is
(a) Rs 1.66 lakh crore
(b) Rs. 2.03 lakh crore
(c) Rs. 1.98 lakh crore
(d) Rs. 3.45 lakh crore
Ans. A
13. The provisions related to Annual Financial Statement is mentioned in
(a) Article 110
(b) Article 112
(c) Article 113
(d) Article 114
Ans. B
14. 100% electrification of Broad-Gauge routes to be completed by
(a) 2021
(b) 2023
(c) 2022
(d) 2025
Ans. B
15. When did the government merge the Railway Budget with the Union Budget?
(a) 2017
(b) 2018
(c) 2015
(d) 2016
Ans. D
16. Which of the following is the nodal body responsible for producing the Budget?
(a) Department of Economic Affairs
(b) Department of Revenue
(c) Department of Expenditure
(d) Department of Finance
Ans. A
17. Voluntary vehicle scrapping policy is launched for private vehicles for more than _____ years.
(a) 10 years
(b) 20 years
(c) 15 years
(d) 12 years
Ans. B
18. National Hydrogen Energy Mission will be launched in
(a) 2022
(b) 2021
(c) 2024
(d) 2023
Ans. B
19. The FDI limit in insurance sector is increased from 49 percent to
(a) 56 percent
(b) 100 percent
(c) 90 percent
(d) 74 percent
Ans. D
20. 2021 census will be India’s
(a) 7th census
(b) 9th census
(c) 8th census
(d) 6th census
Ans. C
21. Tax holiday for Affordable Housing projects extended till
(a) March 2021
(b) December 2021
(c) April 2022
(d) March 2022
Ans. D
22. In Budget 2021, to promote Digital Economy the limit of turnover for tax audit increased to
(a) 5 crores
(b) 2 crores
(c) 15 crores
(d) 10 crores
Ans. D
23. Budget 2021-22 gives exemption from filing tax returns for senior citizens over
(a) 60 years
(b) 65 years
(c) 70 years
(d) 75 years
Ans. D
24. In India since 2014 the Income Tax Return (ITR) increased by
(a) 3 times
(b) 2 times
(b) 7 times
(d) 10 times
Ans. B
25. The amount of capital expenditure in Budget 2021-22 is mentioned as
(a) Rs. 5.54 lakh crore
(b) Rs. 5.25 lakh crore
(c) Rs. 7.54 lakh crore
(d) Rs. 4.75 lakh crore
Ans. A
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