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Budget 2026-27 and the Economic Survey — GK Questions with Answers

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25 questions
  1. What is the total size of the Budget of 2026-27?
    1. ₹43.47 lakh crore
    2. ₹53.47 lakh crore
    3. ₹63.47 lakh crore
    4. ₹35.4 lakh crore
    Show answer

    Answer: (B) ₹53.47 lakh crore

    ₹35.4 lakh crore is only the revenue receipts, not the whole Budget — the full size is ₹53.47 lakh crore.

  2. What is the fiscal deficit budget estimate for 2026-27, as a percentage of GDP?
    1. 4.4%
    2. 4.3%
    3. 3.3%
    4. 5.1%
    Show answer

    Answer: (B) 4.3%

    It stood at 4.4% in 2025-26, and eased slightly to 4.3% in 2026-27.

  3. In "where the rupee comes from", which is the biggest slice?
    1. Income tax
    2. GST and other taxes
    3. Borrowings and other liabilities
    4. Corporation tax
    Show answer

    Answer: (C) Borrowings and other liabilities

    Borrowings and other liabilities form the biggest source at 24%, ahead of income tax (21%) and corporation tax (18%).

  4. In "where the rupee goes", which is the biggest slice?
    1. Interest payments
    2. States’ share of taxes
    3. Defence
    4. Central sector schemes
    Show answer

    Answer: (B) States’ share of taxes

    The states’ share of taxes (22%) is the biggest, followed by interest payments (20%).

  5. Which head of expenditure sits on top of the list for 2026-27?
    1. Defence
    2. Rural Development
    3. Transport
    4. Home Affairs
    Show answer

    Answer: (C) Transport

    Transport (₹5,98,520 crore) has edged ahead of Defence (₹5,94,585 crore).

  6. Which way did the effective revenue deficit move from 2025-26 to 2026-27?
    1. 1.5% to 1.5% — no change
    2. 0.6% to 0.3% — cut in half
    3. 4.4% to 4.3% — a small fall
    4. 56.1% to 55.6% — a small fall
    Show answer

    Answer: (B) 0.6% to 0.3% — cut in half

    The effective revenue deficit improved fastest of all — it was cut in half. The other options describe the revenue deficit, the fiscal deficit and the debt ratio.

  7. Which of the following is NOT one of the four clearly-read pillars behind the near-7% growth diagram?
    1. Energy security
    2. Fiscal prudence
    3. Monetary stability
    4. Job creation
    Show answer

    Answer: (D) Job creation

    Job creation is not one of the four clearly-read pillars; along with the other three, "far-reaching structural reform" is the fourth.

  8. What is the essence of the third duty of Budget 2026-27?
    1. Boosting manufacturing
    2. Quickening economic growth
    3. Giving every family and community access to resources and opportunities
    4. Cutting interest rates
    Show answer

    Answer: (C) Giving every family and community access to resources and opportunities

    The third duty is "Sabka Saath, Sabka Vikas" — reaching every family, community and region with resources and opportunities.

  9. What was the Electronic Components Manufacturing Scheme’s outlay raised to in Budget 2026-27?
    1. ₹22,919 crore
    2. ₹30,000 crore
    3. ₹40,000 crore
    4. ₹50,000 crore
    Show answer

    Answer: (C) ₹40,000 crore

    The outlay was raised from ₹22,919 crore to ₹40,000 crore.

  10. How much is allocated over the next 5 years under the Container Manufacturing Support Scheme?
    1. ₹5,000 crore
    2. ₹10,000 crore
    3. ₹22,919 crore
    4. ₹40,000 crore
    Show answer

    Answer: (B) ₹10,000 crore

    ₹10,000 crore is allocated over the next 5 years, with a target of 10 lakh TEU of domestic capacity a year.

  1. What is the budget for the MSME Development Fund under Champion MSMEs?
    1. ₹2,000 crore
    2. ₹5,000 crore
    3. ₹10,000 crore
    4. ₹20,000 crore
    Show answer

    Answer: (C) ₹10,000 crore

    The MSME Development Fund is ₹10,000 crore; the Atmanirbhar Bharat Fund top-up is ₹2,000 crore.

  2. When was the Infrastructure Risk Guarantee Fund set up?
    1. In Budget 2025-26
    2. In Budget 2026-27
    3. In Economic Survey 2025-26
    4. In the Twelfth Five-Year Plan
    Show answer

    Answer: (B) In Budget 2026-27

    This new fund was set up in the Central Budget of 2026-27.

  3. What reward is given for issuing a municipal bond worth more than ₹1,000 crore, under the municipal bond incentive?
    1. ₹10 crore
    2. ₹50 crore
    3. ₹100 crore
    4. ₹500 crore
    Show answer

    Answer: (C) ₹100 crore

    Issuing a bond worth more than ₹1,000 crore earns a reward of ₹100 crore.

  4. By how much has the Ministry of Health and Family Welfare’s allocation risen in Budget 2026-27?
    1. 5%
    2. 10%
    3. 15%
    4. 20%
    Show answer

    Answer: (B) 10%

    The allocation has risen by 10%, and 1 lakh Allied Health Professionals will be added over the next 5 years.

  5. Over roughly what period is the Khelo India Mission meant to transform Indian sport?
    1. 5 years
    2. A decade
    3. 15 years
    4. By 2047
    Show answer

    Answer: (B) A decade

    The Mission is meant to bring integrated development to training centres, coaches and sports infrastructure over the next decade.

  6. What is the 2026-27 budget allocation for the Divyangjan Kaushal Yojana?
    1. ₹200 crore
    2. ₹2,000 crore
    3. ₹20,000 crore
    4. ₹2,00,000 crore
    Show answer

    Answer: (A) ₹200 crore

    The scheme’s training initiatives carry a 2026-27 allocation of ₹200 crore.

  7. SHE-Mart is built chiefly for women linked to which programme?
    1. Ujjwala Yojana
    2. Lakhpati Didi programme
    3. Stand-Up India
    4. MUDRA Yojana
    Show answer

    Answer: (B) Lakhpati Didi programme

    SHE-Mart is built chiefly for rural women linked to the Lakhpati Didi programme.

  8. What is the first advance estimate of GDP growth for 2025-26, according to Economic Survey 2025-26?
    1. 6.3%
    2. 6.8%
    3. 7.0%
    4. 7.4%
    Show answer

    Answer: (D) 7.4%

    The first advance estimate is 7.4%; GVA growth is a little lower, at 7.3%.

  9. Which sub-sector of agriculture grew fastest between 2015-16 and 2024-25?
    1. Crops
    2. Livestock
    3. Fishing
    4. Forestry
    Show answer

    Answer: (C) Fishing

    Fishing grew fastest at 8.8%; crops grew slowest, at 3.5%.

  10. Roughly how many reforms have been carried out under India’s Reform Express since the Independence Day 2025 announcement?
    1. 150
    2. 250
    3. 350
    4. 450
    Show answer

    Answer: (C) 350

    Close to 350 reforms have been carried out, including GST simplification and the labour codes.

  1. What are the objectives behind setting up Atal Tinkering Laboratories in India? (RAS Mains, 2024, 5 marks)
    1. To build curiosity, creativity and innovation skills among school students
    2. To give research grants to large industries
    3. To provide PhD research facilities in universities
    4. To give equipment only to engineering colleges
    Show answer

    Answer: (A) To build curiosity, creativity and innovation skills among school students

    Atal Tinkering Labs are set up in schools (classes 6-10) under NITI Aayog’s Atal Innovation Mission, so that children learn by experimenting with tools themselves.

  2. What do you understand by TReDS under MSMEs in India? (RAS Mains, 2024, 5 marks)
    1. A scheme offering long-term loans to MSMEs
    2. A digital platform for discounting MSME invoices owed by large companies
    3. A website for MSME registration
    4. An insurance scheme for exporting MSMEs
    Show answer

    Answer: (B) A digital platform for discounting MSME invoices owed by large companies

    TReDS is the electronic platform where MSMEs can sell their unpaid bills to banks or financiers and get cash quickly.

  3. What is the government’s futuristic roadmap for developing the nuclear energy sector, announced in Central Budget 2025-26? (RAS Mains, 2024, 10 marks)
    1. A target of 100 GW of nuclear capacity by 2047, ₹20,000 crore for SMR research, and proposed amendments to related laws
    2. A plan to shut down all nuclear power plants
    3. A plan to only buy imported reactors
    4. Handing nuclear energy over to the states
    Show answer

    Answer: (A) A target of 100 GW of nuclear capacity by 2047, ₹20,000 crore for SMR research, and proposed amendments to related laws

    The Nuclear Energy Mission set out a roadmap of operationalising 5 indigenous Small Modular Reactors by 2033, and amending the Atomic Energy Act and the Civil Liability Act to open space for private players — this was a Budget 2025-26 announcement.

  4. What specific measures for promoting MSMEs were announced in Central Budget 2025-26? (RAS Mains, 2024, 10 marks)
    1. Raising the credit guarantee cover for micro and small enterprises from ₹5 crore to ₹10 crore, raising the investment-turnover limits for classification, and loans for 5 lakh new women/SC/ST entrepreneurs
    2. Removing GST entirely for MSMEs
    3. Giving MSMEs only export credit
    4. Lowering the MSME classification limits
    Show answer

    Answer: (A) Raising the credit guarantee cover for micro and small enterprises from ₹5 crore to ₹10 crore, raising the investment-turnover limits for classification, and loans for 5 lakh new women/SC/ST entrepreneurs

    The investment limit rose to ₹125 crore and the turnover limit to ₹500 crore; the guarantee cover doubled, and a new scheme offered term loans up to ₹2 crore for women and SC/ST entrepreneurs — this was a Budget 2025-26 announcement.

  5. Name the three economic railway corridors announced under the PM Gati Shakti framework in the interim budget of 2024-25. (RAS Mains, 2023, 2 marks)
    1. Energy, mineral and cement corridors; port connectivity corridors; high traffic density corridors
    2. The four corridors of the Golden Quadrilateral
    3. Industrial corridor, digital corridor, green corridor
    4. North-South, East-West and coastal corridors
    Show answer

    Answer: (A) Energy, mineral and cement corridors; port connectivity corridors; high traffic density corridors

    These three corridors were announced under PM Gati Shakti to ease congestion on freight routes and cut logistics costs.

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