Budget 2024 GK Quiz, Question and Answer

The Budget 2024 GK Quiz, Question and Answer covered diverse aspects of the fiscal plan. In the realm of welfare, it introduced progressive measures aimed at bolstering economic growth while ensuring social equity. The government emphasized investments in key sectors such as healthcare, education, and infrastructure, showcasing a commitment to overall development.

Q1. What is the total estimated expenditure in the Union Budget for the financial year 2024-25?

(a) 44,90,486 crore

(b) 47,65,768 crore

(d) 14,96,693 crore

(e) `2,97,328 crore

Q2. How much is the total capital expenditure in the Budget 2024-25?

(a) 9,50,246 crore

(b) 2,97,328 crore

(d) 11,11,111 crore

(e) `44,90,486 crore

Q3. What is the total resources transferred to the States in the Budget 2024-25, including devolution, grants, loans, etc.?

(a) 22,22,264 crore

(b) 4,13,848 crore

(d) 44,90,486 crore

(e) `11,11,111 crore

Q4. What is the percentage increase in Effective Capital Expenditure in Budget 2024-25 over the Revised Estimates for 2023-24?

(a) 15.2%

(b) 17.7%

(d) 14.3%

(e) 18.9%

Q5. Which category accounts for the highest expenditure in the Budget for 2024-25?

(a) Pension

(b) Interest

(d) Grants in Aid for creation of capital assets

(e) Tax Administration

Q6. What is the projected fiscal deficit for the fiscal year 2024-25 as a percentage of Nominal GDP?

(a) 5.1%

(b) 2.0%

(d) 1.5%

(e) 6.4%

Q7. Which sector receives the highest allocation in the Budget for 2024-25?

(a) Education

(b) Transport

(d) Health

(e) Defence

Q8. What is the budget estimate for the Mahatma Gandhi National Rural Employment Guarantee Program (MGNREGA) in the fiscal year 2024-2025?

(a) ₹60,000

(b) ₹80,000

(d) ₹90,000

(e) ₹95,000

Q9. What is the budget estimate for the Pradhan Mantri Awas Yojna (PMAY) in 2024-2025?

(a) 60,000 crore

(b) 80,671 crore

(d) 54,103 crore

(e) 70,000 crore

Q10. How much is allocated for the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) in the Revised Estimates for 2023-2024?

(a) ₹60,000

(b) ₹58,254

(d) ₹50,000

(e) ₹45,000

Q11. How much is allocated for the Urea Subsidy in the year 2024-2025?

(a) ₹1,19,000

(b) ₹1,31,100

(d) ₹1,65,217

(e) ₹1,50,000

Q12. What is the proposed budget allocation for the Scheme for Bhutan in the fiscal year 2024-2025?

(a) ₹2,467 crore

(b) ₹2,401 crore

(d) ₹2,069 crore

(e) None of the above

Q13. What is the proposed budget allocation for the Scheme for Nepal in the fiscal year 2024-2025?

(a) ₹434 crore

(b) ₹550 crore

(d) ₹700 crore

(e) None of the above

Q14. What is the proposed budget allocation for the National Investment and Infrastructure Fund (NIIF) in the fiscal year 2024-2025?

(a) ₹1,683 crore

(b) ₹2,000 crore

(d) ₹1,701 crore

(e) None of the above

Q15. What is the allocated budget for the Education sector in the fiscal year 2024-2025?

(a) ₹1,24,638 crore

(b) ₹1,30,000 crore

(d) ₹1,40,000 crore

(e) None of the above

Solutions

S1. Ans.(b)

Sol. The total expenditure in the Budget is estimated at 47,65,768 crore(47.65 Lakh Crore)

S2. Ans.(d)

Sol. The total expenditure in the Budget is estimated at 47,65,768 crore(47.65 Lakh Crore), with a significant focus on capital expenditure, reaching 11,11,111 crore(11.11 Lakh Crore). This reflects a commendable increase of 16.9% in capital expenditure over the Revised Estimates (RE) for 2023-24.

S3. Ans.(a)

Sol. In the fiscal year 2024-25, resources transferred to states, including devolution, grants, loans, and centrally sponsored schemes, amount to 22,22,264 crore(22.22 Lakh Crore). This represents a noteworthy increase of 4,13,848 crore over the Actuals of FY 2022-23.

S4. Ans.(b)

Sol. The effective capital expenditure for 2024-25 is projected at `14,96,693 crore, showcasing a substantial increase of 17.7% over the RE for 2023-24.

S5. Ans.(b)

Sol. With ₹11,90,440 crore allocated, managing interest payments remains a critical component of fiscal planning.

S6. Ans.(a)

Sol. The fiscal deficit for 2024-25 is projected at `16,85,494 crore, constituting 5.1% of the Nominal GDP.

S7. Ans.(e)

Sol. Defence Ministry receives the highest allocation with ₹6.1 lakh crore.

S8. Ans.(c)

Sol. Mahatma Gandhi National Rural Employment Guarantee Program: ₹86,000 crore.

S9. Ans.(b)

Sol. Pradhan Mantri Awas Yojna (PMAY): ₹80,671 crore

S10. Ans.(a)

Sol. Pradhan Mantri Kisan Samman Nidhi: ₹60,000 crore

S11. Ans.(a)

Sol. Urea Subsidy: ₹1,19,000 crore

S12. Ans.(d)

Sol. The government has allocated 2,069 Crore amount for the Scheme for Bhutan in the proposed budget, reflecting its commitment to bilateral relations and cooperation with Bhutan.

S13. Ans.(d)

Sol. The government has earmarked 700 Crore amount for the Scheme for Nepal in the proposed budget, emphasizing the ongoing support and collaboration between India and Nepal.

S14. Ans.(c)

Sol. The government has allocated 1,501 Crore amount for NIIF in the proposed budget, aiming to support infrastructure development and investment in strategic projects.

S15. Ans.(a)

Sol. Education: A significant allocation of ₹1,24,638 crore underscores the importance of investing in education for national progress.