Union Budget 2022-23: Expected Questions

& Answers

1. Recently announced union budget 2022-23 was which numbered budget of

the country?
(a) 90th
(b) 91th
(c) 92nd
(d) 93rd
(e) 94th
Answer: C
Solution:
The Union Minister for Finance & Corporate Affairs, Smt. Nirmala
Sitharaman tabled the Union Budget 2022-23 in Parliament on February 01,
2022. Union budget 2022-23 was 92nd union budget of India. The Union
Budget seeks to complement macro-economic level growth with a focus on
microeconomic level all-inclusive welfare.

2. Who amongst the following has presented the first union budget of
independent India?
(a) Annie Besant
(b) B.R. Ambedkar
(c) Jawaharlal Nehru
(d) C.D. Deshmukh
(e) R. K. Shanmukham Chetty
Answer: E
Solution:
The first union budget of independent India was presented by R. K.
Shanmukham Chetty on 26 November 1947. Total revenues stood at
171.15 crore, and the fiscal deficit was 24.59 crore.

3. How much fund (in Billion) is allocated to the Agriculture & Farmers welfare
in the Union Budget 2022-23?
(a) Rs. 1325.13
(b) Rs. 1054.07
(c) Rs. 1077.15
(d) Rs. 1403.67
(e) Rs. 1857.76
Answer: A
Solution:
On Feb 01, 2022, The Union Minister for Finance & Corporate Affairs, Smt.
Nirmala Sitharaman tabled the Union Budget 2022-23 in Parliament. In the
union budget 2022-23, Rs. 1325.13 Billion was allocated to the Agriculture &
Farmers welfare.

4. How much fund (in Billion) is allocated to the Ministry of Defence in the
Union Budget 2022-23?
(a) Rs. 1325.13
(b) Rs. 1054.07
(c) Rs. 8991.07
(d) Rs. 2176.67
(e) Rs. 5251.66
Answer: E
Solution:
On Feb 01, 2022, The Union Minister for Finance & Corporate Affairs, Smt
Nirmala Sitharaman tabled the Union Budget 2022-23 in Parliament. In the
union budget 2022-23, Rs. 5251.66 Billion was allocated to the Ministry of
Defence.

5. Which of the following Ministries has been allotted Rs. 1403.67 Billion in the
union budget 2022-23?
(a) Ministry of Communications
(b) Ministry of Railways
(c) Ministry of Home Affairs
(d) Ministry of Road Transport and Highways
(e) Ministry of MSME
Answer: B
Solution:
On Feb 01, 2022, The Union Minister for Finance & Corporate Affairs, Smt
Nirmala Sitharaman tabled the Union Budget 2022-23 in Parliament.

Ministry Amount (INR billion)

Ministry of Communications INR 1054.07 billion

Ministry of Road Transports and Highways INR 1991.1 billion

Ministry of Agriculture and Farmers’ Welfare INR 1325.13 billion

Ministry of Railways INR 1403.67 billion

Ministry of Home Affairs INR 1857.76 billion

6. What is the Outlay for capital expenditure in the union budget 2022-23?
(a) Rs. 4.50 lakh crore
(b) Rs. 5.50 lakh crore
(c) Rs. 6.50 lakh crore
(d) Rs. 7.50 lakh crore
(e) Rs. 8.50 lakh crore
Answer: D
Solution:
Public Capital Investment:

 Public investment to continue to pump-prime private investment and demand

in 2022-23.

 Outlay for capital expenditure stepped up sharply by 35.4% to Rs. 7.50

lakh crore in 2022-23 from Rs. 5.54 lakh crore in the current year.

 Outlay in 2022-23 to be 2.9% of GDP.

7. What was the Revised Estimation of Union Budget 2021-22 against the
Budget Estimation of Rs. 34.83 lakh crore as per the ministry of finance?
(a) Rs. 32.70 lakh crore
(b) Rs. 33.25 lakh crore
(c) Rs. 39.40 lakh crore
(d) Rs. 37.70 lakh crore
(e) Rs. 38.70 lakh crore
Answer: D
Solution:
Fiscal Management:

 Budget Estimates 2021-22: Rs. 34.83 lakh crore

 Revised Estimates 2021-22: Rs. 37.70 lakh crore

8. In which of the following sectors the union government has recently
announced 100% FDI through automated route?
(a) Telecom Sectors
(b) Defence Sectors
(c) Banking Sectors
(d) Insurance Sectors
(e) Civil Aviation Sectors
Answer: A
Solution:
Recently the Government of India has allowed 100% FDI through automated
route in Telecom Sectors to boost the advance technologies development in
India. This is the first time in India to have 100% FDI through automated
route in any sector of the country.

9. Which of the following is not one of the key highlights of the union budget
2022-23?
(a) Economy growth rate at 9.2%
(b) Economy growth rate at 8.5%
(c) 60 lakh new jobs to be created
(d) Additional production of Rs. 30 lakh crore through PLI
(e) Productivity linked incentive scheme in 14 sectors
Answer: B
Solution:
Key highlights of the budget 2022-23:

● India’s economic growth is estimated at 9.2% to be the highest among all

large economies.
● 60 lakh new jobs to be created under the productivity linked incentive
scheme in 14 sectors.
● PLI Schemes have the potential to create an additional production of Rs.
30 lakh crore.

10. Which of the following is not one of the four pillars of the Union Budget
2022-23?
(a) Exclusive Development
(b) PM Gati Shakti
(c) Inclusive Development
(d) Financing of Investment
(e) Productivity Enhancement & Investment, Energy Transition and Climate
Action
Answer: A
Solution:
Union Budget 2022-23 consists of four pillars:

 PM Gati Shakti

 Inclusive Development

 Productivity Enhancement & Investment, Sunrise opportunities,

Energy Transition, and Climate Action.

 Financing of investments

11. The fiscal deficit is estimated to be how much percent of the GDP in 2022-
23 as per Union Budget 2022?
(a) 6.9%
(b) 6.8%
(c) 6.4%
(d) 7.3%
(e) 4.9%
Answer: C
Solution:
Fiscal Management:

 Total receipts other than borrowings in 2022-23 estimated at Rs. 22.84

lakh crore.
 Fiscal deficit in the in 2022-23 estimated at 6.4% of GDP.

12. What was the revised fiscal deficit against 6.8% of the GDP in 2021-22 as
per Union Budget 2021?
(a) 6.9%
(b) 6.8%
(c) 6.4%
(d) 7.3%
(e) 4.9%
Answer: A
Solution:
Fiscal Management:
  Budget Estimates 2021-22: Rs. 34.83 lakh crore
 Revised Estimates 2021-22: Rs. 37.70 lakh crore
 Fiscal deficit in the current year: 6.9% of GDP (against 6.8% in BE)

13. As per the union budget 2022, what is the estimated total receipts other than
borrowings in 2022-23?
(a) Rs. 12.84 lakh crore
(b) Rs. 18.84 lakh crore
(c) Rs. 22.84 lakh crore
(d) Rs. 08.89 lakh crore
(e) Rs. 14.54 lakh crore
Answer: C
Solution:
Fiscal Management:

 Total receipts other than borrowings in 2022-23 estimated at Rs. 22.84

lakh crore.
 Fiscal deficit in the in 2022-23 estimated at 6.4% of GDP.

14. How much amount (in Billion) is allocated to the Ministry of

Communications in the Union Budget 2022-23?
(a) Rs. 1325.13
(b) Rs. 1054.07
(c) Rs. 8991.07
(d) Rs. 2176.67
(e) Rs. 5251.66
Answer: B
Solution:
On Feb 01, 2022, The Union Minister for Finance & Corporate Affairs, Smt
Nirmala Sitharaman tabled the Union Budget 2022-23 in Parliament.
Budgetary Allocation to Ministries in India’s Union Budget 2022-23:

Ministry Amount (INR billion)

Ministry of Communications INR 1054.07 billion

Ministry of Chemicals and Fertilizers INR 1077.15 billion

Ministry of Agriculture and INR 1325.13 billion

Farmers’ Welfare

Ministry of Railways INR 1403.67 billion

Ministry of Home Affairs INR 1857.76 billion

Ministry of Road Transport and INR 1991.07 billion

Highways

Ministry of Consumer Affairs, Food INR 2176.84 billion

and Public Distribution

Ministry of Defence INR 5251.66 billion

15. How much amount (in Billion) is allocated to the Ministry of Chemical and
Fertilizers in the Union Budget 2022-23?
(a) Rs. 1325.13
(b) Rs. 1054.07
(c) Rs. 8991.07
(d) Rs. 2176.67
(e) Rs. 1077.15
Answer: E
Solution:
On Feb 01, 2022, The Union Minister for Finance & Corporate Affairs, Smt
Nirmala Sitharaman tabled the Union Budget 2022-23 in Parliament.
Budgetary Allocation to Ministries in India’s Union Budget 2022-23:

Ministry Amount (INR billion)

Ministry of Communications INR 1054.07 billion

Ministry of Chemicals and Fertilizers INR 1077.15 billion

Ministry of Agriculture and INR 1325.13 billion

Farmers’ Welfare

Ministry of Railways INR 1403.67 billion

Ministry of Home Affairs INR 1857.76 billion

Ministry of Road Transport and INR 1991.07 billion

Highways

Ministry of Consumer Affairs, Food INR 2176.84 billion

and Public Distribution

Ministry of Defence INR 5251.66 billion

16. How much amount (in Billion) is allocated to the Ministry of Consumer
Affairs, Food and Public Distribution in the Union Budget 2022-23?
(a) Rs. 1325.13
(b) Rs. 1054.07
(c) Rs. 8991.07
(d) Rs. 2176.67
(e) Rs. 5251.66
Answer: D
Solution:
On Feb 01, 2022, The Union Minister for Finance & Corporate Affairs, Smt
Nirmala Sitharaman tabled the Union Budget 2022-23 in Parliament.
Budgetary Allocation to Ministries in India’s Union Budget 2022-23:

Ministry Amount (INR billion)

Ministry of Communications INR 1054.07 billion

Ministry of Chemicals and Fertilizers INR 1077.15 billion

Ministry of Agriculture and INR 1325.13 billion

Farmers’ Welfare

Ministry of Railways INR 1403.67 billion

Ministry of Home Affairs INR 1857.76 billion

Ministry of Road Transport and INR 1991.07 billion

Highways

Ministry of Consumer Affairs, Food INR 2176.84 billion

and Public Distribution

Ministry of Defence INR 5251.66 billion

17. How much amount (in Billion) is allocated to the Ministry of Home Affairs
in the Union Budget 2022-23?
(a) Rs. 1325.13
(b) Rs. 1054.07
(c) Rs. 8991.07
(d) Rs. 1857.76
(e) Rs. 5251.66
Answer: D
Solution:
On Feb 01, 2022, The Union Minister for Finance & Corporate Affairs, Smt
Nirmala Sitharaman tabled the Union Budget 2022-23 in Parliament.
Budgetary Allocation to Ministries in India’s Union Budget 2022-23:

Ministry Amount (INR billion)

Ministry of Communications INR 1054.07 billion

Ministry of Chemicals and Fertilizers INR 1077.15 billion

Ministry of Agriculture and INR 1325.13 billion

Farmers’ Welfare

Ministry of Railways INR 1403.67 billion

Ministry of Home Affairs INR 1857.76 billion

Ministry of Road Transport and INR 1991.07 billion

Highways

Ministry of Consumer Affairs, Food INR 2176.84 billion

and Public Distribution

Ministry of Defence INR 5251.66 billion

18. How much amount (in Billion) is allocated to the Ministry of Road
Transport and Highways in the Union Budget 2022-23?
(a) Rs. 1991.07
(b) Rs. 1054.07
(c) Rs. 8991.07
(d) Rs. 2176.67
(e) Rs. 5251.66
Answer: A
Solution:
On Feb 01, 2022, The Union Minister for Finance & Corporate Affairs, Smt
Nirmala Sitharaman tabled the Union Budget 2022-23 in Parliament.

Budgetary Allocation to Ministries in India’s Union Budget 2022-23:

Ministry Amount (INR billion)

Ministry of Communications INR 1054.07 billion

Ministry of Chemicals and Fertilizers INR 1077.15 billion

Ministry of Agriculture and INR 1325.13 billion

Farmers’ Welfare

Ministry of Railways INR 1403.67 billion

Ministry of Home Affairs INR 1857.76 billion

Ministry of Road Transport and INR 1991.07 billion

Highways

Ministry of Consumer Affairs, Food INR 2176.84 billion

and Public Distribution

Ministry of Defence INR 5251.66 billion

19. What is the estimated total Expenditure of Union Budget 2022-23 as per the
ministry of finance?
(a) Rs. 32.70 lakh crore
(b) Rs. 33.25 lakh crore
(c) Rs. 39.45 lakh crore
(d) Rs. 39.01 lakh crore
(e) Rs. 38.70 lakh crore
Answer: C
Solution:
Fiscal Management:

 Total expenditure in 2022-23 estimated at Rs. 39.45 lakh crore.

 Total receipts other than borrowings in 2022-23 estimated at Rs. 22.84
lakh crore.
 Fiscal deficit in 2022-23 estimated at 6.4% of GDP.

20. According to the union budget 2022, the Effective Capital Expenditure of
the Central Government is estimated at what percent of GDP?
(a) 4.1%
(b) 4.2%
(c) 4.3%
(d) 4.4%
(e) 4.5%
Answer: A
Solution:
As per the Union budget 2022, the Effective Capital Expenditure of the
Central Government is estimated at Rs. 10.68 lakh crore in 2022-23, which is
about 4.1% of GDP.

21. As per the Union Budget 2022, how many engines in the National
Infrastructure Pipeline will be aligned with PM Gati Shakti National Master
plan?
(a) 5
(b) 6
(c) 7
(d) 8
(e) 9
Answer: C
Solution:
PM Gati Shakti National Master Plan:

● Expressways will be formulated in 2022-23 to facilitate faster movement

of people and goods.
● The scope of PM Gati Shakti National Master Plan will encompass the
seven engines for economic transformation, seamless multimodal
connectivity and logistics efficiency.
 ● The projects pertaining to these 7 engines in the National Infrastructure
Pipeline will be aligned with PM Gati Shakti framework.

22. As per the Union Budget 2022, the government has planned to expand the
national highway network by how many km in 2022-23?
(a) 11,000
(b) 15,000
(c) 18,000
(d) 20,000
(e) 25,000
Answer: E
Solution:
As per the Union Budget 2022, National Highways Network to be expanded
by 25000 Km in 2022-23. Around Rs. 20000 Crore to be mobilized for
National Highways Network expansion.

23. How many multimodal Logistics Parks will be set up through PPP mode as
per the Union Budget 2022?
(a) 2
(b) 3
(c) 4
(d) 5
(e) 10
Answer: C
Solution:
As per the Union Budget 2022, the government said “Contracts to be
awarded through PPP mode in 2022-23 for implementation of Multimodal
Logistics Parks at four locations”.

24. During the budget 2022-23, the government has aimed to bring how many
km of railway network under ‘Kavach’?
(a) 1000
(b) 1500
(c) 2000
(d) 2500
(e) 5000
Answer: C
Solution:
As per the Union Budget 2022 “2000 Km of railway network to be brought
under Kavach, the indigenous world class technology and capacity
augmentation in 2022-23.”
25. According to the Union Budget 2022, how many new Vande Bharat Trains
will be manufacture in the next three years?
(a) 400
(b) 500
(c) 150
(d) 075
(e) 100
Answer: A
Solution:
As per the Union Budget 2022 the government has planned “to
manufacture 400 new generation Vande Bharat Trains during the next three
years.”

26. According to the budget 2022, how many PM GatiShakti Cargo terminals
for multimodal logistics will be developed in next three years?
(a) 10
(b) 25
(c) 50
(d) 75
(e) 100
Answer: E
Solution:
As per the Union Budget 2022 the government has planned “to develop 100
PM GatiShakti Cargo terminals for multimodal logistics to be developed
during the next three years”.

27. How many new ropeway projects will be awarded through PPP mode in
Parvatmala program?
(a) 5
(b) 8
(c) 10
(d) 15
(e) 20
Answer: B
Solution: As per the Union Budget 2022, the government has planned to
take up the Parvatmala (National Ropeways Development Program), through
PPP mode. The Contracts to be awarded in 2022-23 for 8 ropeway projects of
60 Km length.

28. As per the Union Budget 2022, procurement of how much metric tonnes of
wheat and paddy is estimated in 2021-22?
(a) 1198 lakh
(b) 1088 lakh
(c) 1256 lakh
(d) 1208 lakh
(e) 1918 lakh
Answer: D
Solution:
As per the Union Budget 2022, Procurement of wheat in Rabi 2021-22 and
the estimated procurement of paddy in Kharif 2021-22 will cover 1208 lakh
metric tonnes of wheat and paddy from 163 lakh farmers, and 2.37 lakh
crore direct payment of MSP value to their accounts.

29. As per the Union Budget 2022, Chemical-free Natural Farming will focus
on ______ km wide corridors along river Ganga initially.
(a) 5
(b) 10
(c) 25
(d) 50
(e) 10
Answer: A
Solution:
As per the Union Budget 2022, Chemical-free Natural Farming will be
promoted throughout the country, with a focus on farmer’s lands in 5-km
wide corridors along river Ganga, at the first stage. To reduce dependence
on import of oilseeds, a rationalized and comprehensive scheme to increase
domestic production of oilseeds will be implemented.

30. How much amount has been allotted for the implementation of the Ken –
Betwa link project, as per the Union Budget 2022?
(a) 1000 crore
(b) 1200 crore
(c) 1400 crore
(d) 1800 crore
(e) 2000 crore
Answer: C
Solution:
As per the Union Budget 2022, 1400 crore outlay for implementation of the
Ken – Betwa link project. Around 9.08 lakh hectares of farmers’ lands to
receive irrigation benefits by Ken-Betwa link project.

31. As per the union budget 2022, which of the following portals is not related
to each other?
(a) e-Seva
(b) UDYAM
(c) e-Shram
(d) NCS
(e) ASEEM
Answer: A
Solution:
As per the Union Budget 2022, the government has announced to interlink
the following portals - Udyam, e-shram, NCS and ASEEM.

32. As per the union budget 2022, how many lakh MSMEs will be provided
additional ECLGS?
(a) 130
(b) 140
(c) 150
(d) 175
(e) 200
Answer: A
Solution:
As per the Union Budget 2022, the government has announced that “130
lakh MSMEs provided additional credit under Emergency Credit Linked
Guarantee Scheme (ECLGS).”

33. According to the Union Budget 2022, the guarantee cover under ECLGS has
been extended to what?
(a) Rs. 1 Lakh Crore
(b) Rs. 2 Lakh Crore
(c) Rs. 3 Lakh Crore
(d) Rs. 4 Lakh Crore
(e) Rs. 5 Lakh Crore
Answer: E
Solution:
As per the Union Budget 2022, the government has extended the ECLGS
up to March 2023. Guarantee cover under ECLGS to be expanded by Rs
50000 Crore to total cover of Rs 5 Lakh Crore.

34. As per the Union Budget 2022, how much additional credit for MSMEs will
be facilitated under the Credit Guarantee Trust for Micro and Small Enterprises
(CGTMSE)?
(a) Rs. 1 Lakh Crore
(b) Rs. 2 Lakh Crore
(c) Rs. 3 Lakh Crore
(d) Rs. 4 Lakh Crore
(e) Rs. 5 Lakh Crore
Answer: B
Solution:
As per the Union Budget 2022, Rs 2 lakh Crore additional credit for Micro
and Small Enterprises to be facilitated under the Credit Guarantee Trust for
Micro and Small Enterprises (CGTMSE). The government also said, “Raising
and Accelerating MSME performance (RAMP) programme” with outlay of
Rs 6000 Crore over 5 years will be rolled out.

35. Which of the following portals will be launched by the govt. to empower
citizens to skill, reskill or upskill through on-line training?
(a) SHAKTI-Stack e-portal
(b) SKILLS-Stack e-portal
(c) SWADESH-Stack e-portal
(d) DESH-Stack e-portal
(e) SHIKHA-Stack e-portal
Answer: D
Solution:
As per the Union Budget 2022, Digital Ecosystem for Skilling and
Livelihood (DESH-Stack e-portal) will be launched to empower citizens to
skill, reskill or upskill through on-line training. The government has said “Start-
up’s will be promoted to facilitate ‘Drone Shakti’ and for Drone-As-A-Service
(DrAAS).”

36. Under the ‘One Class-One TV channel’ the govt. has planned to bring the
total TV channels count at how many for providing supplementary education in
regional languages?
(a) 100
(b) 200
(c) 250
(d) 300
(e) 500
Answer: B
Solution:
As per the Union Budget 2022, One Class-One TV channel’ programme of
PM eVIDYA to be expanded from 12 to 200 TV channels and this will enable
all states to provide supplementary education in regional languages for
classes 1-12. High-quality e-content will be developed for delivery through
Digital Teachers.

37. Which of the following programme will be launched by the government for
better access to quality mental health counselling and care services?
(a) National Tele Health
(b) National Telecom Mental Health
(c) Telecom Mental Health
(d) National Tele Mental Health
(e) National Interactive Mental Health
Answer: D
Solution:
As per the Union Budget 2022, an open platform for the National Digital
Health Ecosystem will be rolled out Under Ayushman Bharat Digital
Mission. A ‘National Tele Mental Health Programme’ will be launched for
better access to quality mental health counselling and care services.

38. How many tele-mental health centres of excellence will be set up, with
NIMHANS being the nodal centre by the government in FY23?
(a) 18
(b) 21
(c) 23
(d) 25
(e) 27
Answer: C
Solution:
As per the Union Budget 2022, A network of 23 tele-mental health centres of
excellence will be set up, with NIMHANS being the nodal centre and
International Institute of Information Technology-Bangalore (IIITB)
providing technology support.

39. How many Anganwadis will be upgraded as Saksham Anganwadis for

integrating benefits to women and children?
(a) 50 Thousand
(b) 1 Lakh
(c) 2 Lakh
(d) 4 Lakh
(e) 5 Lakh
Answer: C
Solution:
As per the Union Budget 2022, Integrated benefits to women and children
through Mission Shakti, Mission Vatsalya, Saksham Anganwadi and
Poshan 2.0. Two lakh Anganwadis to be upgraded to Saksham Anganwadis.

40. How much amount has been allotted to cover 3.8 crore household under
‘Har Ghar, Nal se Jal’ for 2022-23?
(a) Rs. 10,000
(b) Rs. 30,000
(c) Rs. 40,000
(d) Rs. 50,000
(e) Rs. 60,000
Answer: E
Solution:
In the Union Budget 2022, the union government has allotted Rs. 60,000
crores to cover 3.8 crore households in 2022-23 under “Har Ghar, Nal se
Jal” scheme.

41. How much amount has been allotted for completion of 80 lakh houses in
2022-23 under PM Aawas Yojana?
(a) Rs. 45,000
(b) Rs. 48,000
(c) Rs. 36,000
(d) Rs. 72,000
(e) Rs. 60,000
Answer: B
Solution:
In the Union Budget 2022, the union government has allotted “Rs. 48,000
crore allocated for completion of 80 lakh houses in 2022-23 under PM Aawas
Yojana.”

42. Which of the following scheme is launched to fund infrastructure and social
development projects in the North-East during FY23?
(a) PM-DivINE
(b) Dekho Purvi Bharat
(c) Ek Bharat – Shrestha Bharat
(d) Dekho Bharat
(e) PM-DevINE
Answer: E
Solution:
In the Union Budget 2022, New scheme PM-DevINE launched to fund
infrastructure and social development projects in the North-East. Initially Rs.
1,500 crores were allocated to enable livelihood activities for youth and
women under the scheme.

43. Which of the following projects will be launched by government for

development of Border villages with limited connectivity on the northern border?
(a) Vibrant Rural Programme
(b) Vibrant Villages Programme
(c) Vibrant Urban Programme
(d) Vibrant North-East Programme
(e) Vibrant Purvi Bharat Programme
Answer: B
Solution:
In the Union Budget 2022, “Vibrant Villages Programme” for development
of Border villages with sparse population, limited connectivity and
infrastructure on the northern border.

44. The union government has planned to connect how many post offices with
CBS as per the budget FY23?
(a) 50 thousand
(b) 75 thousand
(c) 1 lakh
(d) 1.5 lakh
(e) 2 lakh
Answer: D
Solution:
In the Union Budget 2022, 100 percent of 1.5 lakh post offices to come on the
core banking system.

45. As per the budget FY23, how many Digital Banking units will be set up by
the Scheduled Commercial Banks?
(a) 50
(b) 75
(c) 100
(d) 150
(e) 200
Answer: B
Solution:
In the Union Budget 2022, Scheduled Commercial Banks to set up 75
Digital Banking Units (DBUs) in 75 districts.

46. Which of the following categories does not come under the Sunrise
opportunity as per the Union Budget FY23?
(a) Artificial Intelligence
(b) Space Economy
(c) Green Economy
(d) Semiconductor and its eco-system
(e) Clean Mobility Systems
Answer: C
Solution:
In the Union Budget 2022, Government contribution to be provided for R&D
in Sunrise Opportunities like Artificial Intelligence, Geospatial Systems
and Drones, Semiconductor and its eco-system, Space Economy, Genomics
and Pharmaceuticals, Green Energy, and Clean Mobility Systems.
47. The union government has aimed to establish (C-PACE) for speedy
winding-up of companies. What does A stand for?
(a) Accelerated
(b) Achievement
(c) Aimed
(d) Automated
(e) Acquisition
Answer: A
Solution:
In the Union Budget 2022, Centre for Processing Accelerated Corporate
Exit (C-PACE) to be established for speedy winding-up of companies.

48. The union government has announced to set up AVGC promotion task force.
In AVGC what does V stand for?
(a) Vocal
(b) Vibrant
(c) Visually challenged
(d) Visual effects
(e) Vendors
Answer: D
Solution:
In the Union Budget 2022, An animation, visual effects, gaming, and comic
(AVGC) promotion task force to be set-up to realize the potential of this
sector.

49. Which of the following acts will be replaced with new legislation to enable
states for becoming partners in ‘Development of Enterprise and Service Hubs’?
(a) Special Business Zones Act
(b) Special Economic Zones Act
(c) Special e-Mandi Act
(d) Jammu and Kashmir Act
(e) Hotels and Restaurant Act
Answer: B
Solution:
In the Union Budget 2022, Special Economic Zones Act to be replaced with
a new legislation to enable States to become partners in ‘Development of
Enterprise and Service Hubs’.

50. What percent of capital procurement budget earmarked for domestic

industry in FY23 under “AtmaNirbharta in Defence’?
(a) 68%
(b) 55%
(c) 66%
(d) 74%
(e) 49%
Answer: A
Solution:
In the Union Budget 2022, 68% of the capital procurement budget
earmarked for domestic industry in 2022-23. Defence R&D to be opened up
for industry, Start-up and academia with 25% of defence R&D budget
earmarked. Independent nodal umbrella body to be set up for meeting testing
and certification requirements.

51. How much amount has been allotted to PLI for manufacturing of high
efficiency solar modules?
(a) Rs. 11,750 crore
(b) Rs. 16,500 crore
(c) Rs. 19,500 crore
(d) Rs. 12,500 crore
(e) Rs. 14,500 crore
Answer: C
Solution:
In the Union Budget 2022, Additional allocation of Rs. 19,500 crores for
Production Linked Incentive for manufacture of high efficiency solar
modules to meet the goal of 280 GW of installed solar power by 2030. 5-7%
biomass pellets to be co-fired in thermal power plants: leads to CO2 savings of
38 MMT annually,

52. How many pilot projects will be set up for coal gasification and conversion
of coal into chemicals for the industry?
(a) 4
(b) 5
(c) 6
(d) 7
(e) 8
Answer: A
Solution:
In the Union Budget 2022, Four pilot projects to be set up for coal
gasification and conversion of coal into chemicals for the industry. The
government will also provide Financial support to farmers belonging to
Scheduled Castes and Scheduled Tribes, who want to take up agro-forestry.

53. Approx. how much equity had been invested by Venture Capital for scaling
up the start-up and growth ecosystem?
(a) Rs. 1.5 lakh crore
(b) Rs. 3.5 lakh crore
(c) Rs. 4.4 lakh crore
(d) Rs. 5.1 lakh crore
(e) Rs. 5.5 lakh crore
Answer: E
Solution:
In the Union Budget 2022, Venture Capital and Private Equity invested
more than Rs. 5.5 lakh crore last year facilitating one of the largest start-up
and growth ecosystem & also measures to be taken to help scale up this
investment.

54. Which of the following bonds will be launched by government to mobilize

resources for green infrastructure?
(a) Masala Bonds
(b) Solar Bonds
(c) Energy Bonds
(d) Amrut Bonds
(e) Green Bonds
Answer: E
Solution:
In the Union Budget 2022, For mobilizing resources for green infrastructure
Sovereign Green Bonds to be issued. The government will also introduce
Blended funds to promote the sunrise sectors.

55. As per the union budget FY 23, what is the enhanced outlay for the Scheme
of Financial Assistance to States for Capital Investment?
(a) Rs. 10,000 crore
(b) Rs. 15,000 crore
(c) Rs. 18,000 crore
(d) Rs. 20,000 crore
(e) Rs. 22,000 crore
Answer: B
Solution:
In the Union Budget 2022, the government has Enhanced outlay for
‘Scheme for Financial Assistance to States for Capital Investment’. As per
the government, Rs. 10,000 crores in Budget Estimates to Rs. 15,000 crores in
Revised Estimates for current year.

56. How much amount has been allocated in 2022-23 to assist the states in
catalysing overall investments in the economy?
(a) Rs. 4 lakh crore
(b) Rs. 3 lakh crore
(c) Rs. 2 lakh crore
(d) Rs. 1 lakh crore
(e) Rs. 50 thousand crore
Answer: D
Solution:
In the Union Budget 2022, Allocation of Rs. 1 lakh crore in 2022-23 to assist
the states in catalysing overall investments in the economy. In addition to this
the government will also provide fifty-year interest free loans, over and above
normal borrowings.

57. What percent of the state’s fiscal deficit of GSDP will be tied to power
sector reforms as per union budget FY23?
(a) 0.5%
(b) 1.0%
(c) 1.5%
(d) 2.0%
(e) 2.5%
Answer: A
Solution:
As per the Union Budget 2022, for the year 2022-23, States will be allowed a
fiscal deficit of 4% of GSDP, of which 0.5% will be tied to power sector
reforms.

57. Which of the following centres will be set up for timely settlement of
disputes under international jurisprudence at GIFT –IFSC?
(a) International Fintech Centre
(b) National Arbitration Centre
(c) International Arbitration Centre
(d) National Fintech Arbitration Centre
(e) GIFT – Fintech Centre
Answer: C
Solution:
As per the Union Budget 2022, An ‘International Arbitration Centre’ to be
set up for timely settlement of disputes under international jurisprudence at
GIFT -IFSC. A World-class foreign universities and institutions will also be
allowed in the GIFT City.

58. As per the budget FY23, assesse can file returns within how many years
from the end of the relevant assessment year?
(a) two
(b) three
(c) four
(d) five
(e) No such announcement
Answer: A
Solution:
During the budget 2022, The Finance minister has announced a Provision to
file an Updated Return on payment of additional tax. This Will enable the
assesse to declare income missed out earlier. In addition to this returns Can
be filed within two years from the end of the relevant assessment year.

59. What is the revised rate of “Alternate Minimum Tax” for cooperatives?
(a) 15%
(b) 18%
(c) 18.5%
(d) 20%
(e) 25%
Answer: A
Solution:
Under the Union Budget FY23, the government has announced that “the
Alternate Minimum Tax paid by cooperatives brought down from 18.5
percent to 15 percent.”

60. The surcharges on cooperative societies reduced to 7 percent for those

having total income in which of the following ranges?
(a) Rs. 50 lakhs – Rs. 10 crore
(b) Rs. 50 lakhs – Rs. 50 crore
(c) Rs. 1 crore – Rs. 10 crore
(d) Rs. 10 crores – Rs. 100 crore
(e) Rs. 1 crore – Rs. 100 crore
Answer: C
Solution:
In the Union Budget 2022, The government has also announced to provide a
level playing field between cooperative societies and companies. The
Surcharges on cooperative societies reduced from 12 percent to 7
percent for thosehaving total income of more than Rs 1 crore and up to Rs
10 crores.

61. As per the budget FY23, for how many year state governments will be
provided interest free loans above normal borrowings?
(a) 10
(b) 25
(c) 50
(d) 75
(e) No such announcement
Answer: C
Solution:
In the Union Budget 2022, the government has made an allocation of Rs. 1
lakh crore to assist the states in catalysing overall investments in the economy.
In addition to this the government will also provide fifty-year interest free
loans, over and above normal borrowings.

62. The payment of amount from insurance scheme will be allowed to

differently abled dependent after the parents/guardians attaining the age of?
(a) 85 years
(b) 75 years
(c) 70 years
(d) 65 years
(e) 60 years
Answer: E
Solution:
Under the union budget FY23, “the Payment of annuity and lump sum
amount from insurance scheme to be allowed to differently abled
dependent during the lifetime of parents/guardians, i.e., on parents/
guardian attaining the age of 60 years.”

63. What is the increased limit of tax deduction on employer’s contribution to

the NPS account of State government employees?
(a) 14%
(b) 15%
(c) 16%
(d) 18%
(e) 20%
Answer: A
Solution:
As per the union budget FY23, Tax deduction limit increased from 10 per
cent to 14 percent on employer’s contribution to the NPS account of State
Government employees.

64. By how many year(s) the period of incorporation has been extended for
eligible start-ups to avail tax benefit?
(a) 5 years
(b) 4 years
(c) 3 years
(d) 2 years
(e) 1 year
Answer: E
Solution:
As per the union budget FY23, the Period of incorporation extended by one
year, up to 31.03.2023 for eligible start-ups to avail tax benefit. Previously
the period of incorporation valid up to 31.03.2022.

65. What is the revised date for the commencement of manufacturing or

production under section 115BAB?
(a) 31st March, 2027
(b) 31st March, 2026
(c) 31st March, 2025
(d) 31st March, 2024
(e) 31st March, 2023
Answer: D
Solution:
As per the union budget FY23, Last date for commencement of
manufacturing or production under section 115BAB extended by one year
i.e. from 31st March, 2023 to 31st March, 2024.

66. What is the proposed tax for any income from transfer of any virtual digital
asset?
(a) 50 percent
(b) 30 percent
(c) 25 percent
(d) 20 percent
(e) 10 percent
Answer: B
Solution:
In the union budget FY23, Specific tax regime for virtual digital assets
introduced. Any income from transfer of any virtual digital asset to be
taxed at the rate of 30 percent. No deduction in respect of any expenditure or
allowance to be allowed while computing such income except cost of
acquisition.

67. What is the proposed TDS on payments made in relation to transfer of

virtual digital assets?
(a) 7.5%
(b) 5%
(c) 2%
(d) 1.5%
(e) 1%
Answer: E
Solution:
In the union budget FY23, the government has said, “To capture the
transaction details, TDS to be provided on payment made in relation to
transfer of virtual digital asset at the rate of 1 percent of such consideration
above a monetary threshold.”

68. Which of the following conditions were not made under tax exemption to
IFSC during union budget FY23?
(a) Income of a non-resident from offshore derivative instruments
(b) Income from over the counters derivatives
(c) Income received from Interest
(d) Income from royalty
(e) Income received from portfolio management
Answer: C
Solution:
In the union budget FY23, Subject to specified conditions, the following to be
exempt from tax to IFSC:

 Income of a non-resident from offshore derivative instruments.

 Income from over-the-counter derivatives issued by an offshore
banking unit.
 Income from royalty and interest on account of lease of ship.
 Income received from portfolio management services in IFSC.

69. What percent of surcharge on long term capital gains arising on transfer of
any type of assets is introduced during FY23?
(a) 15%
(b) 12%
(c) 10%
(d) 7.5%
(e) 5.0%
Answer: A
Solution:
In the union budget FY23, the government has introduced rationalization of
surcharges. These are as follows: -

 Surcharge on AOPs (consortium formed to execute a contract)

capped at 15 percent.
 Surcharge on long term capital gains arising on transfer of any type
of assets capped at 15 percent.

70. A person giving benefits to someone has to pay TDS, if the aggregated
value of such benefits exceeds how much during the financial year?
(a) Rs. 20,000
(b) Rs. 25,000
(c) Rs. 40,000
(d) Rs. 50,000
(e) Rs. 1,00,000
Answer: A
Solution:
In the union budget FY23, the government has introduced Rationalizing TDS
Provisions. These are as follows: -
 Benefits passed on to agents as business promotion strategy taxable
in hands of agents.
 Tax deduction provided to person giving benefits, if the aggregate
value of such benefits exceeds Rs. 20,000 during the financial year.

71. By which of the following dates, Customs National Portal shall be

implemented?
(a) 31th March 2022
(b) 30th June 2022
(c) 30th September 2022
(d) 30th November 2022
(e) 31th December 2022
Answer: C
Solution:
In the union budget FY23, the government has announced that Customs
Administration of SEZs to be fully IT driven and function on the Customs
National Portal – shall be implemented by 30th September 2022.

72. What percent of tariff in capital goods and project imports has been
introduced to conducive the growth of domestic sector?
(a) 1%
(b) 2.5%
(c) 5%
(d) 7.5%
(e) 10%
Answer: D
Solution:
In the union budget FY23, the government emphasize on gradually phasing
out of the concessional rates in capital goods and project imports; and applying
a moderate tariff of 7.5 percent – conducive to the growth of domestic
sector and ‘Make in India’. Certain exemptions for advanced machineries that
are not manufactured within the country shall continue.

73. How many exemption entries has been proposed by the government for
custom exemptions and tariff simplification?
(a) 100
(b) 350
(c) 500
(d) 750
(e) 900
Answer: B
Solution:
The government has made a review of customs exemptions and tariff
simplification. In budget FY23, more than 350 exemption entries proposed
to be gradually phased out, like exemption on certain agricultural produce,
chemicals, fabrics, medical devices, & drugs and medicines for which sufficient
domestic capacity exists.

74. What is the proposed Customs duty on sawn diamonds for giving a boost to
the Gems and Jewelry sector in budget FY23?
(a) Nil
(b) 2.5%
(c) 5%
(d) 7.5%
(e) 10%
Answer: A
Solution:
After reviewing Gems and Jewellery sector, in the union budget FY23,
“Customs duty on cut and polished diamonds and gemstones being reduced
to 5 percent; Nil customs duty to simply sawn diamond - To give a boost to
the Gems and Jewelry sector.”

75. What is the proposed Customs duty of at least per Kg on imitation jewelry
import in the union budget FY23?
(a) 400
(b) 500
(c) 750
(d) 1000
(e) 2500
Answer: A
Solution:
In the union budget FY23, a simplified regulatory framework to be
implemented by June this year - To facilitate export of jewellery through e-
commerce. Customs duty of at least Rs. 400 per Kg to be paid on imitation
jewelry import - To dis incentivize import of undervalued imitation jewelry.

76. What is the proposed Customs duty on Umbrellas of MSME sectors in the
union budget FY23?
(a) 5%
(b) 10%
(c) 15%
(d) 20%
(e) 25%
Answer: D
Solution:
In the union budget FY23, for MSME sectors - Customs duty on umbrellas
being raised to 20 percent. Exemption to parts of umbrellas being withdrawn.
Exemption being rationalized on implements and tools for Agri-sector
which are manufactured in India.

77. For how many years the Customs duty exemption has been given to steel
scrap in the union budget FY23?
(a) 5 years
(b) 4 years
(c) 3 years
(d) 2 years
(e) 1 year
Answer: E
Solution:
In the union budget FY23, for MSME sectors - Customs duty exemption
given to steel scrap last year extended for another year to provide relief to
MSME secondary steel producers.

78. To encourage blending of fuel, what is the additional differential excise duty
per litre, as per union budget FY23?
(a) Rs. 1
(b) Rs. 2
(c) Rs. 3
(d) Rs. 4
(e) Rs. 5
Answer: B
Solution:
The union government has reviewed the Tariff measure to encourage
blending of fuel. Under this the government has announced that
“Unblended fuel to attract an additional differential excise duty of Rs 2/ litre
from the 1st of October 2022 - to encourage blending of fuel. “

79. How much fund (in Billion) is allocated to the Ministry of Rural
Development in the Union Budget 2022-23?
(a) Rs. 1382.04
(b) Rs. 1054.07
(c) Rs. 8991.07
(d) Rs. 2176.67
(e) Rs. 5251.66
Answer: A
Solution:
On Feb 01, 2022, The Union Minister for Finance & Corporate Affairs, Smt.
Nirmala Sitharaman tabled the Union Budget 2022-23 in Parliament.

Name of Ministry Amount (INR billion)

Ministry of Communications INR 1054.07 billion

Ministry of Chemicals and Fertilizers INR 1077.15 billion

Ministry of Agriculture and INR 1325.13 billion

Farmers’ Welfare

Ministry of Railways INR 1403.67 billion

Ministry of Home Affairs INR 1857.76 billion

Ministry of Road Transport and INR 1991.07 billion

Highways

Ministry of Consumer Affairs, Food INR 2176.84 billion

and Public Distribution

Ministry of Rural Development INR 1382.04 billion

80. How much fund is allocated to the Aatmanirbhar Bharat Rojgar Yojana in
the Union Budget 2022-23?
(a) Rs. 10,000 crore
(b) Rs. 39,553 crore
(c) Rs. 6,800 crore
(d) Rs. 19,000 crore
(e) Rs. 6,400 crore
Answer: E
Solution:
Below given table shows the particular amount given to a particular
Scheme/Project/Mission.

S.No. Scheme/Project/Mission Amount (BE FY23)

1. Aatmanirbhar Bharat Rojgar Yojana Rs. 6,400 crore
2. PM Kisan Yojana Rs. 6,800 crore
3. Pradhan Mantri Swasthya Surakhsha Rs. 10,000 crore
Yojana
4. PM Gram Sadak Yojana Rs. 19,000 crore
5. National Education Mission Rs. 39,553 crore
6. National Health Mission Rs. 37,800 crore

81. How much fund is allocated to the Pradhan Mantri Swasthya Surakhsha
Yojana in the Union Budget 2022-23?
(a) Rs. 10,000 crore
(b) Rs. 39,553 crore
(c) Rs. 6,800 crore
(d) Rs. 19,000 crore
(e) Rs. 6,400 crore
Answer: A
Solution:

Below given table shows the particular amount given to a particular

Scheme/Project/Mission.

S.No. Scheme/Project/Mission Amount (BE FY23)

1. Aatmanirbhar Bharat Rojgar Yojana Rs. 6,400 crore
2. PM Kisan Yojana Rs. 6,800 crore
3. Pradhan Mantri Swasthya Surakhsha Rs. 10,000 crore
Yojana
4. PM Gram Sadak Yojana Rs. 19,000 crore
5. National Education Mission Rs. 39,553 crore
6. National Health Mission Rs. 37,800 crore

82. How much fund is allocated to the PM Kisan Yojana in the Union Budget
2022-23?
(a) Rs. 10,000 crore
(b) Rs. 39,553 crore
(c) Rs. 6,800 crore
(d) Rs. 19,000 crore
(e) Rs. 6,400 crore
Answer: C
Solution:

Below given table shows the particular amount given to a particular

Scheme/Project/Mission.

S.No. Scheme/Project/Mission Amount (BE FY23)

1. Aatmanirbhar Bharat Rojgar Yojana Rs. 6,400 crore
2. PM Kisan Yojana Rs. 6,800 crore
3. Pradhan Mantri Swasthya Surakhsha Rs. 10,000 crore
Yojana
4. PM Gram Sadak Yojana Rs. 19,000 crore
5. National Education Mission Rs. 39,553 crore
6. National Health Mission Rs. 37,800 crore

83. How much fund is allocated to the PM Gram Sadak Yojana in the Union
Budget 2022-23?
(a) Rs. 10,000 crore
(b) Rs. 39,553 crore
(c) Rs. 6,800 crore
(d) Rs. 19,000 crore
(e) Rs. 6,400 crore
Answer: D
Solution:

Below given table shows the particular amount given to a particular

Scheme/Project/Mission.

S.No. Scheme/Project/Mission Amount (BE FY23)

1. Aatmanirbhar Bharat Rojgar Yojana Rs. 6,400 crore
2. PM Kisan Yojana Rs. 6,800 crore
3. Pradhan Mantri Swasthya Surakhsha Rs. 10,000 crore
Yojana
4. PM Gram Sadak Yojana Rs. 19,000 crore
5. National Education Mission Rs. 39,553 crore
6. National Health Mission Rs. 37,800 crore
84. How much fund is allocated to the National Education Mission in the Union
Budget 2022-23?
(a) Rs. 10,000 crore
(b) Rs. 39,553 crore
(c) Rs. 68,00 crore
(d) Rs. 19,000 crore
(e) Rs. 6,400 crore
Answer: B
Solution:

Below given table shows the particular amount given to a particular

Scheme/Project/Mission.

S.No. Scheme/Project/Mission Amount (BE FY23)

1. Aatmanirbhar Bharat Rojgar Yojana Rs. 6,400 crore
2. PM Kisan Yojana Rs. 6,800 crore
3. Pradhan Mantri Swasthya Surakhsha Rs. 10,000 crore
Yojana
4. PM Gram Sadak Yojana Rs. 19,000 crore
5. National Education Mission Rs. 39,553 crore
6. National Health Mission Rs. 37,800 crore

85. How much fund is allocated to the National Education Mission in the Union
Budget 2022-23?

(a) Rs. 10,000 crore

(b) Rs. 39,553 crore
(c) Rs. 37,800 crore
(d) Rs. 19,000 crore
(e) Rs. 6,400 crore
Answer: C
Solution:

Below given table shows the particular amount given to a particular

Scheme/Project/Mission.

S.No. Scheme/Project/Mission Amount (BE FY23)

1. Aatmanirbhar Bharat Rojgar Yojana Rs. 6,400 crore
2. PM Kisan Yojana Rs. 6,800 crore
3. Pradhan Mantri Swasthya Surakhsha Rs. 10,000 crore
Yojana
4. PM Gram Sadak Yojana Rs. 19,000 crore
5. National Education Mission Rs. 39,553 crore
6. National Health Mission Rs. 37,800 crore

86. How much fund is allocated to the Jal Jeevan Mission in the Union Budget
2022-23?
(a) Rs. 10,000 crore
(b) Rs. 39,553 crore
(c) Rs. 37,800 crore
(d) Rs. 19,000 crore
(e) Rs. 60,000 crore
Answer: E
Solution:

Below given table shows the particular amount given to a particular

Scheme/Project/Mission.

S.No. Scheme/Project/Mission Amount (BE FY23)

1. Aatmanirbhar Bharat Rojgar Yojana Rs. 6,400 crore
2. PM Kisan Yojana Rs. 6,800 crore
3. Pradhan Mantri Swasthya Surakhsha Rs. 10,000 crore
Yojana
4. PM Gram Sadak Yojana Rs. 19,000 crore
5. National Education Mission Rs. 39,553 crore
6. Jal Jeevan Mission Rs. 60,000 crore

87. What is the Budget estimation of Revenue Receipts in the union budget
FY23?
(a) Rs. 22.04 lakh crore
(b) Rs. 33.25 lakh crore
(c) Rs. 39.40 lakh crore
(d) Rs. 37.70 lakh crore
(e) Rs. 38.70 lakh crore
Answer: A
Solution:
Below given table shows the BE of Revenue, Capital and Effective Capital
Receipts and Revenue Expenditure of Union Budget FY23.

S.No. Parameter Amount (in lakh crore)

1. Revenue Receipts Rs. 22.04
2. Capital Receipts Rs. 17.40
3. Effective Capital Rs. 10.67
Receipts
4. Revenue Expenditure Rs. 31.94

88. What is the Budget estimation of Capital Receipts in the union budget FY23?
(a) Rs. 22.04 lakh crore
(b) Rs. 13.25 lakh crore
(c) Rs. 19.40 lakh crore
(d) Rs. 17.70 lakh crore
(e) Rs. 17.40 lakh crore
Answer: E
Solution:
Below given table shows the BE of Revenue, Capital and Effective Capital
Receipts and Revenue Expenditure of Union Budget FY23.

S.No. Parameter Amount (in lakh crore)

1. Revenue Receipts Rs. 22.04
2. Capital Receipts Rs. 17.40
3. Effective Capital Rs. 10.67
Receipts
4. Revenue Expenditure Rs. 31.94

89. What is the Budget estimation of Revenue expenditure in the union budget
FY23?
(a) Rs. 32.04 lakh crore
(b) Rs. 33.25 lakh crore
(c) Rs. 31.94 lakh crore
(d) Rs. 37.70 lakh crore
(e) Rs. 38.40 lakh crore
Answer: C
Solution:
Below given table shows the BE of Revenue, Capital and Effective Capital
Receipts and Revenue Expenditure of Union Budget FY23.

S.No. Parameter Amount (in lakh crore)

1. Revenue Receipts Rs. 22.04
2. Capital Receipts Rs. 17.40
3. Effective Capital Rs. 10.67
Receipts
4. Revenue Expenditure Rs. 31.94

90. What is the Budget estimation of Effective Capital Receipts in the union
budget FY23?
(a) Rs. 12.04 lakh crore
(b) Rs. 13.25 lakh crore
(c) Rs. 10.67 lakh crore
(d) Rs. 17.70 lakh crore
(e) Rs. 18.40 lakh crore
Answer: C
Solution:
Below given table shows the BE of Revenue, Capital and Effective Capital
Receipts and Revenue Expenditure of Union Budget FY23.

S.No. Parameter Amount (in lakh crore)

1. Revenue Receipts Rs. 22.04
2. Capital Receipts Rs. 17.40
3. Effective Capital Rs. 10.67
Receipts
4. Revenue Expenditure Rs. 31.94

91. As per the union budget FY23, what percent of money will come from
Borrowings & Other Liabilities to the government?
(a) 35%
(b) 15%
(c) 16%
(d) 7%
(e) 5%
Answer: A
Solution:
Below given table shows from where the money will come to the Government
for the expenditure in Union Budget FY23.

S.No. Source Percentage

1. Borrowings & Other 35%
Liabilities
2. Income + Corporation 30%
Tax
3. GST 16%
4. Union Excise Duties 7%
5. Non Tax Revenue & 10%
Customs

92. As per the union budget FY23, what percent of money will come from
Goods and Services Tax to the government?
(a) 35%
(b) 15%
(c) 16%
(d) 7%
(e) 5%
Answer: C
Solution:
Below given table shows from where the money will come to the Government
for the expenditure in Union Budget FY23.

S.No. Source Percentage

1. Borrowings & Other 35%
Liabilities
2. Income + Corporation 30%
Tax
3. GST 16%
4. Union Excise Duties 7%
5. Non Tax Revenue & 10%
Customs

93. As per the union budget FY23, what percent of money will come from
Income and Corporation Tax combined to the government?
(a) 35%
(b) 30%
(c) 16%
(d) 7%
(e) 5%
Answer: B
Solution:
Below given table shows from where the money will come to the Government
for the expenditure in Union Budget FY23.

S.No. Source Percentage

1. Borrowings & Other 35%
Liabilities
2. Income + Corporation 30%
Tax
3. GST 16%
4. Union Excise Duties 7%
5. Non Tax Revenue & 5% each
Customs

94. As per the union budget FY23, what percent of money will come from Non
Tax Revenue and Customs to the government?
(a) 35%
(b) 15%
(c) 16%
(d) 7%
(e) 5%
Answer: E
Solution:
Below given table shows from where the money will come to the Government
for the expenditure in Union Budget FY23.

S.No. Source Percentage

1. Borrowings & Other 35%
Liabilities
2. Income +Corporation 30%
Tax
3. GST 16%
4. Union Excise Duties 7%
5. Non Tax Revenue & 5% each
Customs

95. As per the union budget FY23, what percent of money will come from
Union Excise Duties to the government?
(a) 35%
(b) 15%
(c) 16%
(d) 7%
(e) 5%
Answer: D
Solution:
Below given table shows from where the money will come to the Government
for the expenditure in Union Budget FY23.
S.No. Source Percentage
1. Borrowings & Other 35%
Liabilities
2. Income + Corporation 30%
Tax
3. GST 16%
4. Union Excise Duties 7%
5. Non Tax Revenue & 5% each
Customs

96. What percent of money will go into Central Sector Schemes as per the
Union budget FY23?
(a) 20%
(b) 17%
(c) 15%
(d) 9%
(e) 4%
Answer: C
Solution:
Below given table shows where the money goes through investments, welfare
schemes etc. in Union Budget FY23.

S.No. Infusion Percentage

1. Interest Payments 20%
2. State’s share of Taxes 17%
and Duties
3. Central Sector Schemes 15%
4. Subsidies 8%
5. Pensions 4%

97. What percent of money will go into Pensions payments as per the Union
budget FY23?
(a) 20%
(b) 17%
(c) 15%
(d) 9%
(e) 4%
Answer: E
Solution:
Below given table shows where the money goes through investments, welfare
schemes etc. in Union Budget FY23.
S.No. Infusion Percentage
1. Interest Payments 20%
2. State’s share of Taxes 17%
and Duties
3. Central Sector Schemes 15%
4. Subsidies 8%
5. Pensions 4%

98. What percent of money will go into Subsidies payments as per the Union
budget FY23?
(a) 20%
(b) 17%
(c) 15%
(d) 8%
(e) 4%
Answer: D
Solution:
Below given table shows where the money goes through investments, welfare
schemes etc. in Union Budget FY23.

S.No. Infusion Percentage

1. Interest Payments 20%
2. State’s share of Taxes 17%
and Duties
3. Central Sector Schemes 15%
4. Subsidies 8%
5. Pensions 4%

99. What percent of money will go into State’s share of Taxes and Duties as per
the Union budget FY23?
(a) 20%
(b) 17%
(c) 15%
(d) 9%
(e) 4%
Answer: B
Solution:
Below given table shows where the money goes through investments, welfare
schemes etc. in Union Budget FY23.

S.No. Infusion Percentage

1. Interest Payments 20%
2. State’s share of Taxes 17%
and Duties
3. Central Sector Schemes 15%
4. Subsidies 8%
5. Pensions 4%

100. In which of the following parameters highest percent of amount will go as

per Union budget FY23?
(a) Pensions
(b) Subsidies
(c) Interest Payments
(d) Central Sector Schemes
(e) State’s share of Taxes and Duties
Answer: C
Solution:

Below given table shows where the money goes through investments, welfare
schemes etc. in Union Budget FY23.

S.No. Infusion Percentage

1. Interest Payments 20%
2. State’s share of Taxes 17%
and Duties
3. Central Sector Schemes 15%
4. Subsidies 8%
5. Pensions 4%