GK Questions on Union Budget 2024: Set-2
Q16. Before 2017, when was the Union Budget traditionally presented?
[A] 15th February
[B] Last working day of February
[C] 28th February
[D] 1st March
Answer – [B] Last working day of February
Explanation-
Q17. Who was the Minister of Finance in the NDA government under Prime Minister Narendra Modi when the change in the budget presentation date was announced in 2017?
[A] Yashwant Sinha
[B] Arun Jaitley
[C] P. Chidambaram
[D] Nirmala Sitharaman
Answer –[B] Arun Jaitley
Explanation-
Q18. What was the new date announced for presenting the Union Budget in 2017?
[A] 15th February
[B] 28th February
[C] 1st February
[D] 5th February
Answer – [C] 1st February
Explanation-
Q19. Which government, led by which political party, announced the change in the Union Budget presentation date in 2017?
[A] UPA government, Indian National Congress
[B] NDA government, Bharatiya Janata Party
[C] Third Front government, Communist Party of India
[D] AAP government, Aam Aadmi Party
Answer – [B] NDA government, Bharatiya Janata Party
Explanation-
Q20. What is the significance of the ‘Halwa ceremony’ in the context of the Union Budget presentation?
[A] It marks the beginning of the financial year
[B] It symbolizes the end of the budgetary process
[C] It initiates the printing of budget documents
[D] It signifies the conclusion of the Parliament session
Answer – [C] It initiates the printing of budget documents
Explanation-
Q21. Which traditional Indian practice is associated with the ‘Halwa ceremony’?
[A] Lighting a ceremonial lamp
[B] Performing a prayer ritual
[C] Consuming a sweet dish
[D] Exchanging garlands
Answer – [C] Consuming a sweet dish
Explanation-
Q22. Where do the officers and support staff involved in the budget preparation remain isolated until the budget is presented?
[A] South Block office
[B] Parliament House
[C] North Block office
[D] Rashtrapati Bhavan
Answer – [C] North Block office
Explanation-
Q23. Who typically serves the halwa during the ‘Halwa ceremony’?
[A] President of India
[B] Prime Minister
[C] Finance Minister
[D] Chief Economic Advisor
Answer – [C] Finance Minister
Explanation-
Q24. What is the purpose of the “lock-in” period mentioned in the context of the Union Budget?
[A] To restrict the movement of officials
[B] To maintain secrecy before the budget presentation
[C] To finalize budgetary details
[D] To allow officials a break before the budget presentation
Answer –[B] To maintain secrecy before the budget presentation
Explanation-
Q25. When does the “lock-in” period for finance ministry staff typically begin?
[A] On the day of the Halwa ceremony
[B] One week before the budget presentation
[C] Two weeks before the budget presentation
[D] On the day of the Finance Minister’s speech
Answer – [A] On the day of the Halwa ceremony
Explanation-
Q26. How has the lock-in period changed since 2021, and what is the reason for this change?
[A] It has become longer due to increased security measures.
[B] It has become shorter due to the digital format of the budget.
[C] It remains the same as before.
[D] It has been abolished.
Answer –[B] It has become shorter due to the digital format of the budget.
Explanation-
Q27. What significant change occurred in the presentation format of the Union Budget in 2021?
[A] The budget documents were distributed in printed form only.
[B] The budget was presented in a joint session of Parliament.
[C] The budget was presented in a purely digital format.
[D] The budget was presented in multiple languages.
Answer – [C] The budget was presented in a purely digital format.
Explanation-
Q28. What traditional element was housed in the basement of the North Block until 2020?
[A] A secretariat for budget planning
[B] The Finance Minister’s office
[C] A printing press for budget documents
[D] A historical archive of budget speeches
Answer – [C] A printing press for budget documents
Explanation-
Q29.Until 2018, what was the traditional item used by Finance ministers to carry the budget?
[A] Wooden box
[B] Metal suitcase
[C] Leather briefcase
[D] Fabric bag
Answer –[C] Leather briefcase
Explanation-
Q30. Who established the tradition of carrying the budget in a leather briefcase?
[A] Arun Jaitley
[B] R. K. Shanmukham Chetty
[C] P. Chidambaram
[D] Yashwant Sinha
Answer –[B] R. K. Shanmukham Chetty
Explanation-
