Here is some Interesting facts from previous budget to enrich your knowledge about Indian Economy base structure of Indian economic development. These question answers will help you a lot in  IAS/PCS, Banking and SSC exam preparation

Q.1) Union Budget of India is presented by whom and in which house/ houses of the Parliament?

A. Finance Minister of India; Lok Sabha (Correct Answer)
B. Prime Minister of India; Rajya Sabha
C. Cabinet Secretary; Both Lok Sabha and Rajya Sabha
D. President of India; in joint session of Parliamnet

Q.2) Who among the following presented Union Budget maximum number of times?

A. P. Chidambaram
B. R K Shanmukham Chetty
C. Pranav Mukherjee
D. Morarji Desai (Correct Answer)

Q.3) Who among the following presented the first budget (interim) of Independent India?

A. Manmohan Singh
B. Jawaharlal Nehru
C. R K Shanmukham Chetty (Correct Answer)
D. N.D. Tiwari

Q.4) The annual Union budget of India is usually presented in the Parliament on the last day of___?

A. March
B. February (Correct Answer)
C. April
D. January

Q.5) The word Interim Budget was introduced for the first time by whom among the following in his budget speech?

A. Jawaharlal Nehru
B. VP Singh
C. Pranav Mukherjee
D. R K Shanmukham Chetty (Correct Answer)

Q.6) Who among the following presented the first budget of Republic India?

A. John Mathai (Correct Answer)
B. R K Shanmukham Chetty
C. N.D. Tiwari
D. CD Deshmukh

Q.7) Which budget among the following is known as the black budget in Indian budget history?

A. Budget of 1990-91
B. Budget of 1965-66
C. Budget of 1973-74 (Correct Answer)
D. Budget of 1962-63

Q.8) Who among the following was the first finance minister to present budget in India before Independence?

A. James Wilson (Correct Answer)
B. Motilal Nehru
C. Dada Bhai Naoroji
D. Lord Mountbatten

Q.9) When was the first time union budget was presented in Indian history?

A. 7 April 1860 (Correct Answer)
B. 7 April 1858
C. 7 February 1860
D. 7 November 1898Q.10) In which one of the following budgets the services tax was introduced?
A. Budget 1994-1995 (Correct Answer)
B. Budget 1997-1998
C. Budget 2000-2001
D. Budget 1987-1988


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