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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 rates 2. 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. Safety 3. Vikas 4. Samardh 6)The amount allocated by Planning commi-ssion (budgetary support to Railways)? 1. 3.19 lakhs 2. 4.19 lakhs 3. 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 Railways 3. Indian Railways is the worlds ninth largest commercial or utility employer 4. All the above

8)The Rail Neer Bottling plants would be set up in 1. Vijayawada, Mumbai, Lalitput, Bilaspur, Patna, Ahmedabad 2. Ahmedabad, Jaipur, Vijayawada, Nagpur, Lalitpur, Bilaspur 3. Bilaspur, Vijayawada, Kolkata, Nanded, Lalitpur, Jaipur 4. 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 years 2. In future, ticket charge may be indexed to fuel price 3. Train protection warning in automatic systems will be introduced 4. 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, 297 2. The plan expenditure is the Rs 5, 55, 322 crore 3. Non-plan expenditure Rs 11, 09, 975crore 4. 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 country 2. It was 82nd Budget, which includes interim and special-situation budgetary proposals 3. 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 Indias 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 lakh 3. 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 banking 2. Proposal to launch inflation indexed bonds or inflation indexed national security certificates to protect savings from inflation 3. Indias first womens bank as a PSU proposed, Rs 1000 crore working capital announced 4. All the above 18)How much amount is allocated for Drinking water and Sanitation? 1. Rs 80, 194 crore 2. Rs 81, 194 crore 3. 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 Indias 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. Sports 3. 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 Partnership 2. 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 correct 3. 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 sector 2. 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 percent 3. At present Indian Tourism has a paltry share of 0.64 per cent in world tourist arrivals 4. All the above 26)Who among the following is the Chief advisor to the Finance Minister? 1. Rangarajan 2. Raghuram Rajan 3. 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 Indias largest tea is produced ? (A) Tamil Nadu (B) Assam (C) Karnataka (D) Kerala Answer: Assam 2. Bilateral trade between India and Europe is expected to touch level of $ billion by 2010. (A) 50 (B) 75 (C) 100 (D) 110 Answer: 100

3. How many members are there in APEC (Asia-Pacific Economic Co-operation) ? (A) 20 (B) 21 (C) 25 (D) 27 Answer: 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, 1952 Answer: April 1, 1951

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

(D) Haryana Answer: Uttar Pradesh 6. Who has written the book My Country My Life ? (A) Indira Gandhi (B) Rajgopalachari (C) Baljeet Singh (D) Lal Krishna Advani Answer: Lal Krishna Advani

7. Who was the Chairman of 13th Finance Commission? (A) Vijay L. Kelkar (B) C. Rangrajan (C) Deepak Pareek (D) Indira Bhargava Answer: Vijay L. Kelkar 8. RBI holdsequity 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 market Answer: 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 crore Answer: 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 above Answer: China

12. Which of the following is not a Tax ? (A) MAT (B) SAT (C) GST (D) VAT Answer: SAT 13. The Future of India book is written by (A) R. N. Malhotra (B) Jagdish Mukhi (C) M. S. Ahluwalia (D) Bimal Jalan Answer: Bimal Jalan 14. The National Stock Exchange functions from (A) Mumbai (B) Kolkata (C) New Delhi (D) Chennai Answer: 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 GNP Answer: 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) Area Answer: 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 crore Answer: 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) 10 Answer: 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. 500 Answer: Rs. 300 21. Innovation Lab has been launched by (A) Tata Consultancy Services (B) Infosys Tech (C) Reliance Industries (D) Anils Reliance Communications Answer: 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 2008 Answer: 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) Japan Answer: 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) Japan Answer: USA 25. The state having the lowest Maternal Mortality Rate is (A) Tamil Nadu (B) Maharashtra (C) Kerala (D) Gujarat Answer: Kerala

26. Which of the following organisation publishes World Investment Report ? (A) WTO (B) UNCTAD (C) IMF (D) IFC Answer: 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) China Answer: 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 Mittal Answer: Mukesh Ambani

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

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

(A) Ludhiana (B) Tirupur (C) Panipat (D) Jodhpur Answer: Jodhpur 34. According to Chinas Xinhua News agency, China earned $ 335 billion from tourism during 2006 and acquiredplace in earning the highest tourism revenue in the world. (A) Second (B) Fourth (C) Sixth (D) Tenth Answer: 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) 10 Answer: 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 above Answer: 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 output Answer: 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) ONGC Answer: ONGC 40. As per 2011-12 budget the CENVAT has been fixed at (A) 8% (B) 9% (C) 10% (D) 12%
Answer: 10%