SSC GK PYQ QUIZ : BUDGET & ECONOMIC SURVEY

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Created on September 12, 2026 By skverma.verma29@gmail.com

SSC GK PREVIOUS YEAR QUESTIONS QUIZ :BUDGET & ECONOMIC SURVEY

1 / 10

BUDGET & ECONOMIC SURVEY

ASKED IN:

SSC CHSL 2018

SSC GD 2021

ECONOMIC SURVEY IS PRESENTED IN THE PARLIAMENT BEFORE WHICH DOCUMENT?

a) GST BILL

b) RAILWAY BUDGET

c) UNION BUDGET

d) FINANCE BILL

EXPLANATION:

THE ECONOMIC SURVEY IS PRESENTED ONE DAY BEFORE THE UNION BUDGET IN PARLIAMENT.

2 / 10

BUDGET & ECONOMIC SURVEY

ASKED IN:

SSC CGL 2019

SSC CHSL 2020

SSC MTS 2022

WHICH MINISTRY PREPARES THE ECONOMIC SURVEY OF INDIA?

a) MINISTRY OF STATISTICS

b) RBI

c) MINISTRY OF FINANCE

d) MINISTRY OF COMMERCE

EXPLANATION:

THE ECONOMIC SURVEY IS PREPARED BY THE ECONOMIC DIVISION OF THE DEPARTMENT OF ECONOMIC AFFAIRS UNDER THE MINISTRY OF FINANCE.

3 / 10

BUDGET & ECONOMIC SURVEY

ASKED IN:

SSC CGL 2018

SSC CPO 2020

SSC CHSL 2021

REPO RATE IS DECIDED BY WHICH INSTITUTION?

a) RBI

b) SBI

c) NABARD

d) SEBI

EXPLANATION:

THE RESERVE BANK OF INDIA CONTROLS REPO RATE TO MANAGE INFLATION AND LIQUIDITY.

4 / 10

BUDGET & ECONOMIC SURVEY

ASKED IN:

SSC CHSL 2017

SSC CGL 2020

WHO PRESENTS THE UNION BUDGET IN PARLIAMENT?

a) FINANCE MINISTER

b) PRIME MINISTER

c) RBI GOVERNOR

d) PRESIDENT

EXPLANATION:

THE UNION FINANCE MINISTER PRESENTS THE ANNUAL BUDGET IN PARLIAMENT.

5 / 10

BUDGET & ECONOMIC SURVEY

ASKED IN:

SSC GD 2018

SSC MTS 2020

SSC CHSL 2023

WHAT DOES GDP STAND FOR?

a) GROSS DOMESTIC PRODUCT

b) GENERAL DOMESTIC PRODUCTION

c) GROSS DEVELOPMENT PRODUCT

d) GENERAL DEVELOPMENT PLAN

EXPLANATION:

GDP MEASURES THE ECONOMIC PERFORMANCE OF A COUNTRY.

6 / 10

BUDGET & ECONOMIC SURVEY

ASKED IN:

SSC CGL 2021

SSC CHSL 2022

WHICH ORGANIZATION PUBLISHES INDIA’S INFLATION DATA?

a) MINISTRY OF FINANCE

b) MINISTRY OF STATISTICS AND PROGRAMME IMPLEMENTATION

c) RBI

d) SEBI

EXPLANATION:

MOSPI RELEASES CPI AND INFLATION-RELATED DATA REGULARLY.

7 / 10

BUDGET & ECONOMIC SURVEY

ASKED IN:

SSC CGL 2018

SSC CPO 2019

SSC GD 2022

GST WAS IMPLEMENTED IN INDIA ON WHICH DATE?

a) 26 JANUARY 2018

b) 1 APRIL 2016

c) 15 AUGUST 2017

d) 1 JULY 2017

EXPLANATION:

GST REPLACED MULTIPLE INDIRECT TAXES AND BECAME EFFECTIVE FROM 1 JULY 2017.

8 / 10

BUDGET & ECONOMIC SURVEY

ASKED IN:

SSC CPO 2019

SSC CGL 2022

SSC GD 2023

FISCAL DEFICIT REFERS TO:

a) REVENUE EXPENDITURE MINUS CAPITAL EXPENDITURE

b) TOTAL IMPORTS MINUS EXPORTS

c) TOTAL EXPENDITURE MINUS TOTAL REVENUE EXCLUDING BORROWINGS

d) TAX REVENUE MINUS SUBSIDIES

EXPLANATION:

FISCAL DEFICIT SHOWS THE BORROWING REQUIREMENT OF THE GOVERNMENT.

9 / 10

BUDGET & ECONOMIC SURVEY

ASKED IN:

SSC GD 2019

SSC MTS 2021

SSC CGL 2022

WHICH TAX REPLACED VAT, SERVICE TAX AND EXCISE DUTY?

a) GST

b) CORPORATE TAX

c) CUSTOMS DUTY

d) INCOME TAX

EXPLANATION:

GST UNIFIED VARIOUS INDIRECT TAXES INTO ONE SINGLE TAX SYSTEM.

10 / 10

BUDGET & ECONOMIC SURVEY

ASKED IN:

SSC MTS 2019

SSC GD 2021

SSC CHSL 2022

WHAT IS THE FULL FORM OF GST?

a) GENERAL SALES TAX

b) GOODS AND SALES TAX

c) GOVERNMENT SERVICE TAX

d) GOODS AND SERVICES TAX

EXPLANATION:

GST IS A COMPREHENSIVE INDIRECT TAX LEVIED ON MANUFACTURE, SALE, AND CONSUMPTION OF GOODS AND SERVICES.

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BUDGET & ECONOMIC SURVEY IMPORTANT SSC GK MCQ (TIER-I)

INTRODUCTION

QUESTIONS FROM BUDGET & ECONOMIC SURVEY ARE VERY IMPORTANT IN SSC EXAMS SUCH AS:

SSC CGL

SSC CHSL

SSC CPO

SSC GD

SSC MTS

SSC STENOGRAPHER

EVERY YEAR SSC ASKS MULTIPLE GK QUESTIONS FROM UNION BUDGET, ECONOMIC SURVEY, TAXATION, FISCAL DEFICIT, GDP GROWTH, SUBSIDIES, INFLATION, GOVERNMENT SCHEMES, AND ECONOMIC INDICATORS. MANY QUESTIONS ARE REPEATED IN DIFFERENT EXAMS AND YEARS.

IN THIS ARTICLE, WE HAVE COVERED:

PREVIOUS YEAR SSC QUESTIONS

REPEATED QUESTIONS

DETAILED EXPLANATIONS

EXAM NAME & YEAR

TOPIC-WISE COVERAGE

IMPORTANT BUDGET & ECONOMIC SURVEY HIGHLIGHTS

IMPORTANT HIGHLIGHTS OF UNION BUDGET & ECONOMIC SURVEY

IMPORTANT BUDGET TERMS

1. FISCAL DEFICIT

FISCAL DEFICIT IS THE DIFFERENCE BETWEEN TOTAL EXPENDITURE AND TOTAL REVENUE OF THE GOVERNMENT EXCLUDING BORROWINGS.

2. REVENUE DEFICIT

REVENUE DEFICIT OCCURS WHEN REVENUE EXPENDITURE EXCEEDS REVENUE RECEIPTS.

3. CAPITAL EXPENDITURE

MONEY SPENT BY THE GOVERNMENT ON INFRASTRUCTURE, MACHINERY, BUILDINGS, AND ASSET CREATION.

4. GDP (GROSS DOMESTIC PRODUCT)

TOTAL VALUE OF GOODS AND SERVICES PRODUCED WITHIN A COUNTRY DURING ONE FINANCIAL YEAR.

5. ECONOMIC SURVEY

ECONOMIC SURVEY IS AN ANNUAL DOCUMENT PREPARED BY THE MINISTRY OF FINANCE BEFORE THE UNION BUDGET.

6. INFLATION

INFLATION MEANS THE INCREASE IN PRICES OF GOODS AND SERVICES OVER TIME.

7. REPO RATE

THE RATE AT WHICH RBI LENDS MONEY TO COMMERCIAL BANKS.

8. DIRECT TAX

TAX PAID DIRECTLY TO THE GOVERNMENT SUCH AS INCOME TAX AND CORPORATE TAX.

9. INDIRECT TAX

TAX COLLECTED INDIRECTLY THROUGH GOODS AND SERVICES SUCH AS GST.

10. GST (GOODS AND SERVICES TAX) GST WAS IMPLEMENTED IN INDIA ON 1 JULY 2017