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Budget and Economic Survey Test - 3

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Budget and Economic Survey Test - 3
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Weekly Quiz Competition
  • Question 1
    1 / -0.25

    Which of the following is planning to regulate Financial Influencers (Finfluencers) in India?

    Solution

    • The  Securities and Exchange Board of India (SEBI)  is reportedly working on a framework to regulate financial influencers.
    • The framework is expected to include the following provisions:
      • Registration and licensing : Financial influencers would need to register with SEBI and obtain a license to operate in India.
      • Education and training : Financial influencers would need to undergo education and training on financial markets and products.
      • Disclosure requirements : Financial influencers would need to disclose their conflicts of interest and any remuneration they receive for promoting financial products or services.
      • Complaints mechanism : Investors would have a mechanism to lodge complaints against financial influencers who violate the regulations.

  • Question 2
    1 / -0.25

    PM-PRANAM scheme was announced in Budget 2023. What is the objective of the scheme?

    Solution

    • Under the scheme, the government  aims to incentivize  States and Union Territories  to promote  alternative fertilizers   and balanced use of chemical fertilizers. 
    • The main objective of the scheme is to  reduce the use of chemical fertilizers in agriculture.
    • 500 new 'waste to wealth 'plants under GOBARdhan (Galvanizing Organic Bio-Agro Resources Dhan)  scheme will be established for promoting circular economy.
    • These will include  200 compressed biogas (CBG) plants, including 75 plants in urban areas, and 300 community or cluster-based plants  at total investment of Rs 10,000 crore.
    • Also, a 5 per cent CBG mandate  will be introduced for all organisations marketing natural and biogas.
    • For the collection of bio-mass and distribution of bio-manure, appropriate fiscal support will be provided.
    • Bhartiya Prakritik Kheti Bio-Input Resource Centres:
      • To facilitate 1 crore farmers to adopt natural farming, 10,000 Bio-Input Resource Centres will be set up, creating a national-level distributed micro-fertilizer and pesticide manufacturing network.
    • The government has also secured  Rs 35,000 crore  to support the transition towards energy efficiency and security.

  • Question 3
    1 / -0.25

    Among the following India is the largest exporter of

    Solution

    • India is the largest exporter of  textiles  in the world.
    • In FY 2021-22, India ’s textile exports were valued at  $44.4 billion,  which is the highest-ever recorded value.

  • Question 4
    1 / -0.25

    The Government announced what percent increase in the Pradhan Mantri Awas Yojana outlay in 2023-24?

    Solution

    • The Finance Minister announced that the outlay for  PM Awas Yojana  is being enhanced by 66 per cent to over Rs 79,000 crore.
    • The Defence Ministry has been allocated  5.94 lakh crore  rupees in Budget 2023-24.
    • This is  13.18 percent of the total budget, and a jump of 13 percent over previous year.
    • The Government has also decided to continue the  50-year interest free loan  to state governments for one more year to spur investment in infrastructure.

  • Question 5
    1 / -0.25

    How much amount have been allocated to the Khelo India Programme in Union Budget 2022?

    Solution

    • The  central government has  allocated Rs 3062.60 crore   for the  financial year 2022-23, an increase of Rs 305.58 crore.
    • In the previous  financial year, the government had allocated Rs 2596.14 crore for sports , which was later revised to Rs 2757.02 crore. 
    • The financial allocation towards the Khelo India programme , which got Rs  657.71 crore  in the last budget, was  increased to Rs 974 crore.

  • Question 6
    1 / -0.25

    Which state has become the largest manufacturing hub in the country as per the RBI?

    Solution

    • Gujarat state ’s Gross Value Addition (GVA)  has grown  at 15.9 per cent annually (in manufacturing) on average between FY ’12 and FY ’20 to touch Rs 5.11 lakh crore, according to data released by the Reserve Bank of India.
    • Gujarat displaced  Maharashtra state.
    • Maharashtra ’s annual growth rate during the period was  7.5 per cent,  taking the state ’s total manufacturing GVA to Rs 4.34 lakh crore in FY ’20.
    • Maharashtra continues to lead as the nation ’s biggest services hub.
    • Rajasthan, Telangana, and Andhra Pradesh  respectively were among the worst performer states which were already among the top ten.

  • Question 7
    1 / -0.25

    In which year was the new currency symbol of the Indian rupee officially adopted?

    Solution

    • In 2010  the new currency symbol of the Indian rupee was officially adopted .
    • The symbol of the Indian Rupee typifies India 's international identity for money transactions and economic strength.
      • The  Indian Rupee sign  is an allegory of Indian ethos.
      • The symbol is an amalgam of  Devanagari "Ra "and the Roman Capital "R "  with two parallel horizontal stripes running at the top representing the national flag and also the "equal to "sign. The Indian Rupee sign was adopted by the Government of India on 15th July 2010.
      • The symbol, conceptualized and designed by Udaya Kumar, a postgraduate in Design from the Indian Institute of Technology Bombay, has been chosen from thousands of concept entries received by the Ministry of Finance through an open competition among resident Indian nationals.
      • The process of establishing and implementing this new identity is underway through various digital technology and computer applications.

  • Question 8
    1 / -0.25

    Which of the following Budget is India 's first Paperless Budget Presentation?

    Solution

    • The Union Minister for Finance &Corporate Affairs, Nirmala Sitharaman presented the  Union Budget 2021-22  in Parliament on February 1, 2021,  which is the  first budget of this new decade and also a digital one in the backdrop of the unprecedented COVID-19 crisis.
    • Minister stated that  Budget proposals will further  strengthen the Sankalp of Nation First, Doubling Farmer ’s Income, Strong Infrastructure, Healthy India, Good Governance, Opportunities for youth, Education for All, Women Empowerment, and Inclusive Development among others.
    • This is the  First Paperless Budget  in India.

  • Question 9
    1 / -0.25

    The Government of India has set a target of achieving how much solar power capacity by the year 2022?

    Solution

    • The data regarding the generation of power from various renewable energy projects is consolidated by the  Central Electricity Authority . 
    • As per the  Ministry of New and Renewable Energy (MNRE) , the solar projects require around 4 to 5 acres of land per MW.
    • All the commissioned and upcoming renewable energy projects are monitored by MNRE.

  • Question 10
    1 / -0.25

    The allocation towards health and well-being was increased by ______ over the previous year in Union Budget 2021-22.

    Solution

    • The allocation towards health and well-being   was increased by  137%  over the previous year in  Union Budget 2021-22 . 
    • According to analysts, one of the sectors that have continually been neglected is "health."
    • However, in her Budget 2021-22, Union Finance Minister Nirmala Sitharaman  announced a  137 percent increase  in the allocation for health from the previous year 's budget estimate of over  Rs. 94,000 crore (Rs. 94,452 crore)  and a 118 percent increase from the previous year 's revised budget of over Rs. 1.02 lakh crore (Rs. 1,02,873 crore).

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