Congratulations - you have completed Union Budget 2022 GK quiz.
You scored %%SCORE%% out of %%TOTAL%%.
Your performance has been rated as %%RATING%%
Your answers are highlighted below.
Who will present the Budget 2022 in the Parliament?
Question 1 Explanation:
Finance Minister Nirmala Sitharaman will present the Budget 2022 on February 1 in the Parliament.
Tax imposed on imports and exports of goods when they are transported across the international borders is known as______.
Value Added Tax
Question 2 Explanation:
Customs Duty is the tax which is imposed on imports and exports of goods when they are transported across the international borders.
When was India's first Budget introduced?
7 April 1860
1 February 1948
26 November 1947
12 October 1947
Question 3 Explanation:
India's first Budget was introduced on 7 April 1860 by Scottish economist and politician James Wilson to the British Crown.
______ is the discount granted by the Government of India to make essential items available at affordable rates to the general public.
Maximum Retail Price
Question 4 Explanation:
The Government of India provides Subsidy Bill to its citizens to make essential items available at affordable rates.
At which rate, the income tax is imposed in India?
Question 5 Explanation:
The income tax is imposed at the digressive rate in India which is a combination of progressive and proportional. In the case of the digressive rate, the tax is increased firstly with an increase in income and then the rate remains flat or constant with a further increase in income.
Who presented the first Union Budget of Independent India?
RK Shanmukham Chetty
Question 6 Explanation:
RK Shanmukham Chetty presented Independent India's first Budget on 26 November 1947.
Who holds the record for delivering the longest Budget speech in India?
Question 7 Explanation:
Nirmala Sitharaman holds the record for delivering the longest Budget speech in India. While presenting the Union Budget 2020-21, she spoke for 2 hours and 42 minutes, breaking her previous record of July 2019 speech (2 hours 17 minutes).
Once you are finished, click the button below. Any items you have not completed will be marked incorrect.
There are 7 questions to complete.
You have completed
Your score is
You have not finished your quiz. If you leave this page, your progress will be lost.