Budget 2023 Most Important Question Answer in English

Budget 2023 Most Important Question Answer: Hello friends, welcome to all of you, as you all must know that the budget 2023 has been released. In today’s article, we will discuss those things which have been said in Budget 2023 and have brought a set of Budget 2023 Most Important Question Answer, which is very important for you from the point of view of upcoming exams like UPSC, SSC, and all other government exams. Is important. You will get to see the vital questions and answers of Budget 2023 in this article, although, in this article, we are going to talk about all the things related to Budget 2023. If you want budget questions and answers in English, you will see them very soon on our website.

Budget 2023 Most Important Question Answer in English

Budget 2023 has been released by Finance Minister Smt. Nirmala Sitharaman. People earning up to 7 lakhs have got a significant relief in this budget. People earning up to 7 lakhs are no longer required to pay any tax to the government.

• Read in Hindi – Budget 2023 Most Important Question Answer in Hindi

Budget 2023 Key Highlight

• BUDGET 2023-24: Union Finance Minister Nirmala Sitharaman listed seven key priorities of the Union Budget 2023
• BUDGET 2023-24: Fiscal Deficit target laid out by Finance Minister.
• BUDGET 2023-24: Finance Minister announced the Elimination of sickle cell anaemia targeted for 2047.
• Economic Survey 2022-23: India sixth largest foreign exchange reserves holder in the world
• BUDGET 2023-24: New set of schemes announced by the Finance Minister
• Economic Survey 2022-23: Climate Change And Environment: Preparing To Face The Future.
• BUDGET 2023-24: New tax slabs proposed by the Union Finance Minister.
• ECONOMIC SURVEY 2022-23: Out-of-pocket health spending still high, despite governments increased expenditure
• Economic Survey 2022-23: Social sector expenditure increased to ₹21.3 lakh crore.
• Economic Survey 2022-23: GST led to high tax buoyancy, augurs well for resource mobilisation.

Budget 2023 Most Important Question Answer

You people will get to see the number 10 of Budget 2023 Most Important Question Answer below here.

Alert : The answer to the question is often shown in red.

Q. With reference to the Union Budget 2023-24, which of the following are part of the Saptarishi Mantra:

1. Inclusive development

2. Reaching the last mile

3. Infrastructure and investment

4. Unleashing the potential

5. Green growth

6. Youth power

7. Financial sector

Select the correct code given below.

1. 1, 2, 3 and 4 only
2. 2, 3 and 4 only
3. 1, 2, 3, 4, 5, 6 and 7 only
4. 3, 4, 5, 6 and 7 only

 

Q. With reference to Union Budget 2023-24, consider the following statements regarding Fiscal Management:

1. In 2023-24, the fiscal deficit is estimated to be 5.9% of the GDP.

2. Targeted Fiscal Deficit to be below 4.5% of the GDP by 2025-26.

3. Fiscal Deficit of 3.5% of Gross State Domestic Product for states including 50 basis points linked to power sector reforms.

Which of the above statements are correct?

1. 1 and 2 only
2. 2 and 3 only
3. 1 and 3 only
4. 1, 2 and 3

 

Q. As mentioned in the Budget 2023-24, consider the following statements regarding Sickle Cell Anaemia:

1. It is a genetic disorder of the blood having sickle-shaped haemoglobin.

2. Indian targets to eliminate sickle cell anaemia by 2047.

Which of the above statements is/are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

 

Q. Which of the following statement is incorrect regarding Forex Reserve as mentioned in Economic Survey 2022-23?

1. India’s forex reserves at a level of $563 billion in December 2022.
2. Import Cover of over 9 months
3. India is the sixth largest foreign exchange reserves holder in the world as of November 2022 data
4. The current stock of external debt is higher than the comfortable level of foreign exchange reserves

 

Q. Which of the following has been proposed in the Union Budget 2023:

1. PM Vishwakarma Kaushal Samman

2. Agriculture Accelerator Fund

3. PM – PRANAM

Select the correct code given below.

1. 1 and 2 only
2. ​2 and 3 only
3. 1 and 3 only
4. 1, 2 and 3

 

Q. With reference to Economic Survey 2022-23, consider the following statements regarding Climate Change:

1. Carbon stock in forests in India has increased in the last decade.

2. Mangrove species along the east coast and west coast of India are likely to reduce and shift landward by 2070 due to a decline in suitable habitats in response to precipitation and sea level changes.

3. Investment in Renewable been on the rise year-on-year in the last 5 years.

Which of the following statement is/are incorrect?

1. 1 only
2. 1 and 3 only
3. 3 only
4. 2 only

 

Q. Consider the following new Income Tax slabs as proposed in the Union Budget 2023-24:

S.No	Income Slab(Rs.)	Tax Rate
1.	0 – 3 lakh	nil
2.	3 – 6 lakhs	5%
3.	6 – 9 lakhs	10%
4.	9 – 12 lakhs	15%
5.	12 – 15 lakhs	20%
6.	Above Rs. 15 lakhs	30%

How many of the above pairs are correctly matched?

1. Two Pairs only
2. Three Pairs only
3. Four Pairs only
4. All the Pairs

 

Q. With reference to the Economic Survey 2022-23, consider the following statements regarding Health Sector:

1. Out-of-pocket expenditure is higher than the Government shares of spending.

2. In the last 8 years Out-of-pocket expenditure has progressively decreased.

3. Central and State governments’ budgeted expenditure on the health sector reached 2.1% of the GDP in the Budget estimates for 2022-23 

Which of the above statements are correct?

1. 1 and 2 only
2. 2 and 3 only
3. 1 and 3 only
4. 1, 2 and 3

 

Q. With reference to Economic Survey 2022-23, consider the following statements regarding Social Sector:

1. The social sector expenditure increased to ₹21.3 lakh crore in FY-23 (BE) from ₹9.1 lakh crore seven years ago.

2. Unemployment rates declined from 5.8% in 2018-19 to 4.2% in 2020-21.

Which of the above statements is/are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

 

Q. With reference to Economic Survey 2022-23, consider the following statements regarding Tax Buoyancy:

1. Tax buoyancy defines the relationship between the changes in the government’s tax revenue growth and the changes in GDP.

2. A higher buoyancy reflects the increased efficiency of the tax system.

3. Goods and Services Tax(GST) collection is showing a higher buoyancy than the pre-GST system.

Which of the above statements is/are correct?

1. 1 only
2. 1 and 3 only
3. 1, 2 and 3
4. 3 only