Interim Budget 2024 MCQ (Multiple Choice Questions) for all Competitive Exams

Test your knowledge with our Interim Budget 2024 MCQ! Challenge yourself to see how well you understand key financial concepts and take control of your personal finances.

On February 1, Union Finance Minister Nirmala Sitharaman presented her sixth budget. In the interim Budget for 2024, Union Finance Minister Nirmala Sitharaman outlined the government’s strategy for ‘Amrit Kaal,’ emphasizing inclusive and sustainable development. Guided by the principles of ‘reform, perform, and transform,’ the government aims to provide timely financial support, relevant technologies, and training for Micro, Small, and Medium Enterprises (MSMEs) to enhance global competitiveness.

The focus is on aligning the regulatory environment to facilitate MSME expansion. The goal is to achieve high and resource-efficient economic growth for energy security. The government also plans to prepare the financial sector for future investments. Sitharaman highlighted the government’s commitment to Sabka Saath, Sabka Vikas, and Sabka Vishwas, reinforcing inclusivity in social and geographical aspects.

The interim budget addresses the country’s financial needs until a new government is formed after the upcoming Lok Sabha polls. Prime Minister Modi praised the budget as the first step towards constructing a developed India by 2047.

What is Interim Budget

Interim budget is a temporary financial plan presented by the government when a full-fledged budget cannot be presented in an election year due to the transition between governments. It addresses essential expenditures to keep the government running until a new government is formed and a regular budget is presented. It does not typically introduce major policy changes but focuses on maintaining stability during the transitional period. It serves as a bridge to meet immediate financial needs until a new administration takes charge.

Interim Budget 2024 MCQ

1. What is the key focus of India’s Interim Budget 2024?

a. Defense expenditure

b. Youth and women empowerment

c. Fiscal consolidation

d. Technological advancements

2. How many people have been assisted to get freedom from multi-dimensional poverty in the last 10 years according to the budget speech?

a. 10 crore

b. 15 crore

c. 25 crore

d. 30 crore

3. Which scheme provides credit assistance to street vendors, and 2.3 lakh have received credit for the third time?

a. PM-Jan Dhan Yojana

b. PM-Vishwakarma Yojana

c. PM-SVANidhi

d. PM-KISAN SAMMAN Yojana

4. What is the vision of ‘Viksit Bharat’ as mentioned in the budget?

a. Prosperous Bharat with modern infrastructure

b. Harmonious Bharat with historical sites

c. Technologically advanced Bharat

d. Eco-friendly Bharat

5. Which sector will the government focus on for the ‘Amrit Kaal’ strategy?

a. Information Technology

b. Healthcare

c. Agriculture and Food Processing

d. Renewable Energy

6 What is the outlay for the infrastructure sector for the next year according to the budget speech?

a. INR 1,11,111 crore

b. INR 1,00,000 crore

c. INR 11,11,111 crore

d. INR 11,00,000 crore

7. Which corridor programs are mentioned under the Railways section of the budget?

a. Health, Education, and Technology corridors

b. Energy, mineral, and cement corridors

c. Agricultural, Manufacturing, and Service corridors

d. Cultural, Heritage, and Tourism corridors

8. What will the government do towards meeting the commitment for ‘net-zero’ by 2070 in terms of energy production?

a. Invest in coal-based energy

b. Expand oil and gas exploration

c. Provide viability gap funding for offshore wind energy

d. Increase reliance on natural gas

9. How does the government plan to encourage greater adoption of e-buses for public transport networks?

a. Offering subsidies for petrol buses

b. Implementing stricter regulations on diesel buses

c. Providing payment security mechanisms

d. Taxing electric vehicles

10. What is the proposed provision for supporting reforms by State Governments in the budget?

a. INR 50,000 Cr grant

b. INR 75,000 Cr as a fifty-year interest-free loan

c. INR 1 Lakh Cr for infrastructure development

d. INR 10,000 Cr for education reforms