BPSC CCE Prelims
Budget & Economic Survey Previous Year Questions (PYQs)
Practice solved questions for Budget & Economic Survey with detailed step-by-step solutions, key insights, and trend analysis for BPSC CCE PRELIMS.
Solved Previous Year Questions
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India's foreign exchange reserves:
Detailed Explanation:
✅ Statement 1 – Correct: India's foreign exchange reserves increased to around USD 640.3 billion by the end of December 2024, as per the Economic Survey 2024-25.
❌ Statement 2 – Incorrect: India's forex reserves are the fourth largest in the world (after China, Japan, and Switzerland), not seventh.
❌ Statement 3 – Incorrect: Reserves actually increased by around USD 68 billion in FY24; there was no BoP deficit of USD 24 billion causing a decrease.
Answer: Only statement 1 is correct.
In the Union Budget speech for 2024-25, which oilseeds were noted as not being covered under the goal of "Atmanirbharta" (self-reliance) for oil?
Detailed Explanation:
The Union Budget 2024-25 announced the goal of Atmanirbharta (self-reliance) in oilseeds, specifically targeting mustard, groundnut, sesame, soybean, and sunflower for increased domestic production.
Coconut was notably not included in this self-reliance mission for oilseeds, making it the correct answer among the given options.
What were the shares of the Agriculture, Industry, and Services sectors in overall GVA at current prices in Financial Year 2024 according to the Economic Survey 2023-24?
Detailed Explanation:
According to the Economic Survey 2023-24, the sectoral composition of GVA (Gross Value Added) at current prices for Financial Year 2024 is: Agriculture sector – 17.7%, Industry sector – 27.6%, and Services sector – 54.7%.
The Services sector remains the largest contributor to India's economy, accounting for more than half of total GVA, followed by Industry and Agriculture.
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According to the Economic Survey for the year 2019-2020, which district has the lowest per capita income?
Detailed Explanation:
According to the Economic Survey 2019-20, Sheohar district in Bihar had the lowest per capita income in India.
Sheohar is one of the smallest and least developed districts, facing challenges in infrastructure, employment, and economic development.
In which year was the Railway Budget merged with the General Budget in India?
Detailed Explanation:
The Railway Budget was presented separately from the General Budget since 1924 following the Acworth Committee recommendations. This practice was aimed at giving special attention to railway finances and insulating them from general revenue pressures.
In 2017, the Modi government merged the Railway Budget with the General Budget, ending the 92-year-old tradition. This merger was implemented to ensure better resource allocation and unified financial planning.
Therefore, the Railway Budget was merged with the General Budget in 2017, making Option 3 the correct answer.
In the recent Union Budget, the FM has increased the Foreign Direct Investment (FDI) limit in the insurance sector from the existing one to
Detailed Explanation:
The Union Budget 2021-22 raised the FDI limit in the insurance sector from 49% to 74%, allowing greater foreign participation while retaining Indian management and control safeguards.
This policy change aimed to boost capital inflow, improve insurance penetration, and align with broader economic liberalization measures in the financial sector.
Therefore, 74% is the updated FDI limit, making Option 3 the correct answer.
As per the Union Budget, 2021, the fiscal deficit is estimated to be how much percent of the GDP in 2021-22
Detailed Explanation:
The Union Budget 2021-22 projected a fiscal deficit of 6.8% of GDP for FY 2021-22, a reduction from the revised estimate of 9.5% for FY 2020-21.
This consolidation reflected the government's strategy to manage pandemic-related expenditures while initiating fiscal recovery through increased capital expenditure and disinvestment targets.
Therefore, 6.8% is the correct fiscal deficit estimate, making Option 4 the correct answer.
With reference to the Bare Necessities Index (BNI), consider the following statements
- The economic survey has come up with the Bare Necessities Index at rural and urban levels.
- The BNI has been created for all States for 2018 only.
- The BNI is based on 26 indicators
- The BNI consists of six dimensions
Which of the above statements are correct?
Detailed Explanation:
The Bare Necessities Index (BNI) was introduced in Economic Survey 2020-21 to measure access to basic amenities at household level.
- Statement 1 is Correct: BNI was computed separately for rural and urban areas across all states and UTs.
- Statement 3 is Correct: The index is based on 26 indicators covering water, sanitation, housing, micro-environment, and other necessities.
- Statement 2 is Incorrect: BNI was created for 2012 and 2018, not 2018 alone, to track progress.
- Statement 4 is Incorrect: BNI comprises five dimensions (water, sanitation, housing, micro-environment, other facilities), not six.
- Therefore, only statements 1 and 3 are correct, making Option 1 the correct answer.
Which of the following is not included in the priorities of India Budget 2022-23?
Detailed Explanation:
Union Budget 2022-23 outlined four main priorities: PM Gati Shakti, Inclusive Development, Productivity Enhancement & Investment with Sunrise Opportunities, Energy Transition and Climate Action, and Financing of Investments.
Disinvestment was a fiscal measure and revenue source but was not listed among the budget's thematic priorities. Options 1, 2, and 4 directly match the stated priorities.
Therefore, Disinvestment was not included in the priorities, making Option 3 the correct answer.
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