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Explore this general knowledge (GK) quiz on the Union Budget 2025 to test your knowledge of its key announcements.
Check this GK Quiz on Union Budget 2025.
The Union Budget is one of the most eagerly awaited annual financial reports released by the Indian government. It outlines the country’s economic strategies, revenue generation, spending plans, and significant reforms across various sectors. Given its direct impact on the banking industry, taxation, economic growth, and the financial sector, the Union Budget holds immense importance.
On February 1, 2025, Union Finance Minister Nirmala Sitharaman presented the Union Budget for 2025–2026. In her speech, she emphasised four key development drivers for the fiscal year 2025–2026: agriculture, micro, small, and medium-sized enterprises (MSMEs), investments, and exports.
The following general knowledge quiz assesses your understanding of the budget’s key announcements and allocations:
GK Quiz On Union Budget 2025
1. Who presented the Union Budget 2025?
a) Piyush Goyal
b) Nirmala Sitharaman
c) Arun Jaitley
d) Rajnath Singh
Answer: b) Nirmala Sitharaman
2. Which sector received significant funding for infrastructure development in the Union Budget 2025?
a) Education
b) Health
c) Railways and highways
d) Defence
Answer: c) Railways and highways
3. What major tax reform was introduced in the Union Budget 2025 regarding income tax slabs?
a) Increased tax rates for higher-income groups
b) Zero income tax for annual incomes up to ₹12 lakh under the new tax regime
c) Introduction of a wealth tax
d) Higher exemptions for senior citizens
Answer: b) Zero income tax for annual incomes up to ₹12 lakh under the new tax regime
4. What is the estimated fiscal deficit for the Union Budget 2025?
a) 3.5% of GDP
b) 4.0% of GDP
c) 4.4% of GDP
d) 5.0% of GDP
Answer: c) 4.4% of GDP
5. What is the total expenditure allocated in the Union Budget 2025?
a) ₹45 lakh crore
b) ₹50.65 lakh crore
c) ₹55 lakh crore
d) ₹60 lakh crore
Answer: b) ₹50.65 lakh crore
6. What key initiative aims to improve agricultural productivity in the Union Budget 2025?
a) Pradhan Mantri Kisan Samman Nidhi
b) National Mission on High-Yielding Seeds
c) Soil Health Card Scheme
d) Digital India Initiative
Answer: b) National Mission on High-Yielding Seeds
7. How much funding was allocated for the Urban Challenge Fund in the Union Budget 2025?
a) ₹50,000 crore
b) ₹75,000 crore
c) ₹1 lakh crore
d) ₹1.5 lakh crore
Answer: c) ₹1 lakh crore
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8. What initiative was announced to support first-time women entrepreneurs in the Union Budget 2025?
a) Interest-free loans up to ₹1 crore
b) Term loans of up to ₹2 crore
c) Grants for women-led startups
d) Tax rebates for women entrepreneurs
Answer: b) Term loans of up to ₹2 crore
9. Which board was established to promote Makhana cultivation in Bihar as part of the budget initiatives?
a) Agricultural Development Board
b) Makhana Board
c) Bihar Crop Improvement Board
d) Fisheries and Aquaculture Board
Answer: b) Makhana Board
10. What is one of the four engines of development highlighted in the Union Budget 2025?
a) Large Corporations
b) Startups
c) MSMEs (Micro, Small, and Medium Enterprises)
d) Foreign Investments
Answer: c) MSMEs (Micro, Small, and Medium Enterprises)
