Kalam MCQ 23apr 102116pm

Kshama Jain
Q1. Consider the following statements regarding the Interim Budget for 2024 in comparison with previous
budgets:
1. The Interim Budget for 2024 allocated more funds for healthcare than any previous budget.
2. It introduced a new scheme focused on artificial intelligence to boost India's digital economy.
3. The defense budget saw a decrease for the first time in five years.
4. There was a significant increase in the allocation for rural development projects compared to the
previous year.
Which of the statements given above are correct?
A. 1 and 2 only
B. 2 and 4 only
C. 1, 2 and 4 only
D. All of the above
Correct Answer: C. 1, 2 and 4 only
Explanation: The Interim Budget for 2024 emphasized the importance of healthcare and rural
development, with significant allocations made towards these sectors. It also introduced innovative
schemes to promote the digital economy, including a focus on artificial intelligence. However, there was no
decrease in the defense budget, which has consistently increased over the years.
Q2. Consider the following sectors affected by the Interim Budget 2024:
1. Agriculture sector will see a significant increase in subsidies.

2. Defense spending is projected to decrease.
3. Renewable energy sector will receive enhanced financial incentives.
4. Education sector will experience a reduction in budget allocation.
How many of the Statements given above are correct?
A. Only one
B. Only two
C. Only three
D. None
Correct Answer: B. Only two
Explanation: The Interim Budget often outlines the government's spending and revenue plan for the fiscal
year until a full budget is presented. While specific allocations can vary, governments typically aim to
support key sectors like agriculture and renewable energy with increased subsidies and incentives to
promote growth and sustainability. Defense spending usually remains stable or increases due to strategic
needs. Education is a critical area and generally sees stable or increased funding to support development
goals. Therefore, without specific details from the Interim Budget 2024, the statements about decreases in
defense spending and education budget allocation are speculative and not based on the general trend of
budget allocations.
Q3. Consider the following statements about the Interim Budget:

1. An interim budget is presented in an election year.
2. The interim budget focuses primarily on maintaining essential spending on ongoing schemes and critical
public services
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Kshama Jain
Which of the above statements are incorrect?
A. Only 1
B. Only 2
C. Both 1 and 2
D. None
Correct Answer: D. None

Explanation: The interim budget focusses primarily on maintaining essential spending on ongoing
schemes and critical public services until the new government takes charge. An interim budget, also known
as a ‘Vote on Account‘, is presented in an election year. It is essential government operations funded until
the newly elected government presents its full budget.
Q4. What is the primary purpose of the Interim Budget in India?

$Select the correct option:
A. To present the government's full annual financial statement

B. To cover the period until the government's term ends
C. To make necessary payments and finance essential services until the new Parliament approves the full
budget
D. To introduce new taxes and revise the rates of existing ones
Correct Answer: C.
Explanation: The primary purpose of the Interim Budget in India is to ensure that there is a budgetary
allocation to cover necessary government expenses and services until the new Parliament is formed after
general elections and approves the full budget. It is not meant to introduce new taxes or make significant
policy changes.
Q5. Consider the following statements about the Interim Budget in India:
1. The Interim Budget is presented for the entire financial year, like the annual budget.
2. It is presented by the Government in power during the last year of its term.
3. The Interim Budget includes both expenditure and receipts.
$How many of the Statements given above are correct?
A. Only one
B. Only two
C. All three
D. None
Correct Answer: B. Only two

Explanation: Statement 1 is incorrect: The Interim Budget is not presented for the entire financial year like
the annual budget. Instead, it is a temporary financial document presented by the Government to cover
the expenditure of the government for a short period of time, usually until the new government presents
the full budget. Statement 2 is correct: The Interim Budget is indeed presented by the Government in power
during the last year of its term, especially when it is close to the general elections. Statement 3 is correct:
The Interim Budget includes both expenditure and receipts, similar to the regular budget, but it is for a
shorter period and does not include new schemes.
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Kshama Jain

Which of the statements given above are correct?

Correct Answer: C. 1, 2 and 4 only

1. Agriculture sector will see a significant increase in subsidies.

How many of the Statements given above are correct?

Q3. Consider the following statements about the Interim Budget:

Which of the above statements are incorrect?

Correct Answer: D. None

Q4. What is the primary purpose of the Interim Budget in India?

A. To present the government's full annual financial statement

Correct Answer: B. Only two

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