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General awareness -- related to budget

General Awareness Questions”
1) Who presented the Union Budget 2011-12 in the Parliament on February 28, 2011?
Ans : Pranab Mukherjee
2) The first Union budget of independent India was presented by?
Ans : R.K.Shanmukham Shetty
3) Disinvestment Target for 2011-12 has been placed at?
Ans : Rs. 40000 crore
4) Foreign Institutional Investor-(FII) limit for investment in Indian corporate bonds raised from $20 billion to?
Ans : $30 billion
5) As per Union Budget 2011-12, Indian Micro Finance Equity Fund of Rs.100 crore to be created with?
6) Rural Infrastructure Development Fund (RIDF) was set up by the Government in?
Ans : 1995-96
7) The corpus allocated for Rural Infrastructure Development Fund (RIDF) for 2011-12 is?
Ans : Rs.18000 cr
 The target of credit flow to farmers has been raised from Rs.3,75,000 crore of 2010-11 to ……in 2011-12?
Ans : Rs.4,75,000 crore
9) Rural Infrastructure Development Fund (RIDF) is maintained by?
10) Eligibility for pension under Indira Gandhi National Old Age Pension Scheme for BPL beneficiaries reduced from 65 years of age to?
Ans : 6o years
11) Exemption limit for the general category of individual taxpayers enhanced from 1,60,000 to?
Ans : 1,80,000
12) As per Union Budget 2011-12, standard rate of Service Tax is?
Ans : 10 %
13) As per Union Budget 2011-12, Defence allocation is?
Ans : 1.64 lakh crore
14) In the Constitution of India, the Union Budget of India referred to as the?
Ans : Annual Financial Statement
15) Which of the following department is not a part of Finance Ministry of India?
Ans :Department of Industrial Policy & Promotion
16) Which Department principal responsibility is the preparation of the Union Budget annually (excluding the Railway Budget)?
a) Department of Economic Affairs
17) Which of the following is a government body that offers a single window clearance for proposals on foreign direct investment in the country that are not allowed access through the automatic route?
Ans : Foreign Investment Promotion Board
18) The first woman Finance Secretary of India?
Ans : Sushma Nath
19) The only woman to hold the post of the finance minister of India?
Ans : Indira Gandhi
20) The Union Budget is always presented first in?
Ans : Lok Sabha
21) Which of the following presents the Economic Survey in the parliament every year, just before the Union Budget?
Ans : Ministry of Finance
22) The financial year in India starts on?
Ans : 1st April
23) A fiscal year in India ends on?
Ans : March 31
24) A. Gross Tax receipts are estimated at 9,32,440 crore.
B. Non-tax revenue receipts estimated at 1,25,435 crore.
C. Total expenditure proposed at 12,57,729 crore.
D. Increase of 18.3 per cent in total Plan allocation.
E. Increase of 10.9 per cent in the Non-plan expenditure.
Which of the statements given above is/are correct?
Ans : All of these corrct
25) A. Gross Domestic Product (GDP) estimated to have grown at 8.6 per cent in 2010-11 in real terms.
B. Government expects economy to grow at 9 % in 2011-12.
C. Fiscal Deficit target at 4.6% for 2011-12, down from 5.1% estimated for 2010-11.
D. Central Government debt estimated at 44.2 per cent of GDP for 2011-12 as against 52.5 per cent recommended by the 13th Finance Commission.
E. 40,000 crore to be raised through disinvestment in 2011-12.
Which of the statements given above is/are correct?
Ans : B and C
26) A. Government committed to retain at least 51 per cent ownership and management control of the Central Public Sector Undertakings.
B. “India Microfinance Equity Fund” of Rs.100 crore to be created with SIDBI. Government considering putting in place appropriate regulatory framework to protect the interest of small borrowers.
C.”Women’s SHG’s Development Fund” to be created with a corpus of Rs. 500 crore.
D. Corpus of RIDF XVII to be raised from Rs.16,000 crore to 20,000 crore.
E. 1,000 crore to be provided to SIDBI for refinancing incremental lending by banks to these enterprises.
Which of the statements given above is/are correct?
(No one is correct)
27) A.Allocation under Rashtriya Krishi Vikas Yojana (RKVY) increased from Rs. 6,755 crore to 7,860 crore.
B. Rs.10,000 crore to be contributed to NABARD’s Short-term Rural Credit fund for 2011-12.
C. Allocation for Bharat Nirman programme proposed to be increased by Rs.10,000 crore from the current year to Rs. 58,000 crore in 2011-12.
D. Rs. 21,000 crores for primary education to implement Sarva Shiksha Abhiyan.
E. Defence budget hiked to ’1.64 lakh crore
Which of the statements given above is/are correct?
All are correct
28) Consider the following statements:
1) Finance minister Pranab Mukherjee unveiled the Union Budget 2011-12 on February 28, 2011.
2) Economic Survey 2010-11 was presented in the Parliament on Feb 25, 2011.
3) India’s Railway Minister Mamata Banerjee presented the new Railway Budget for the year 2011-12 in the parliament on February 25, 2011.
All are correct
29. How much amount has been earmarked in the Union Budget 2011-2012 to enable RRBs to maintain a CRR of at least 9% by March 31, 2012?
Ans : 1000 crore
30. What fraction of GDP has been kept as fiscal deficit in the recentlyannounced budget?
Ans :4.6 %
31. Which category of foreign investors has been allowed by the Finance Ministry to invest directly in the Indian equity markets from January 2012?
Ans : QIIs
32. SEBI has allowed promoters falling short of public shareholding norms to reduce their shareholding through an auction to institutional players in a notification issued in January 2012. What is the minimum public shareholding that the listed companies are required as per the new SEBI norms?
Ans : 25% for private sector companies and 10% for PSUs
33. The total number of Kisan Credit card holders in our country stands at-
Ans : 10 crore
34. In the backdrop of Swabhiman drive; which of the following banks has introduced tiny cards with the biometric identification?
Ans : SBI
35. Banks issue a letter to the beneficiary on behalf of its constituents such as guarantee for making payment on their behalf on fulfillment of certain terms and conditions. What is this arrangement called in financial terms?
Ans : Letter of credit
36. Which of the following is not a negotiable instrument?
Ans : Fixed deposit receipt
37. Which of the following is the name of an autonomous organization related with rural technology?
38. What is the minimum and maximum limit for an RTGS transaction in Indian banks?
Ans : 2,00,000 and no maximum limit
39. What is the minimum and maximum limit for an NEFT transaction in Indian banks?
Ans : No minimum or maximum limit
40. An unsecured loan extended by one corporate to another is known as-
Ans : Inter-corporate deposits

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