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100 Most Important MCQs on Union Budget 2026–27

NEWZONE WORLDER ASSOCIATION May 30, 2026

 


100 Most Important MCQs on Union Budget 2026–27 (Latest Exam Pattern)

Based on the latest Union Budget 2026–27 presented by Nirmala Sitharaman and important facts repeatedly discussed in budget analyses and exam-oriented sources. 

1–20: Core Budget Facts

1.

Who presented the Union Budget 2026–27?

A) Narendra Modi
B) Amit Shah
C) Nirmala Sitharaman
D) Rajnath Singh

Answer: C

2.

Union Budget 2026–27 was presented on:

A) 26 January 2026
B) 1 February 2026
C) 15 February 2026
D) 1 March 2026

Answer: B

3.

Fiscal Deficit target for FY 2026–27 is:

A) 5.0%
B) 4.8%
C) 4.3%
D) 3.5%

Answer: C 

4.

Capital Expenditure (Capex) for FY27 is:

A) ₹10.2 lakh crore
B) ₹11.0 lakh crore
C) ₹11.2 lakh crore
D) ₹12.2 lakh crore

Answer: D 

5.

Total Expenditure estimated in Budget 2026–27 is:

A) ₹48 lakh crore
B) ₹50 lakh crore
C) ₹53.5 lakh crore
D) ₹60 lakh crore

Answer: C 

6.

Net Tax Receipts estimated for FY27 are:

A) ₹24 lakh crore
B) ₹26 lakh crore
C) ₹28.7 lakh crore
D) ₹31 lakh crore

Answer: C ( 8th Pay Commission)

7.

Debt-to-GDP ratio targeted in FY27:

A) 60%
B) 58%
C) 55.6%
D) 50%

Answer: C 

8.

Government aims to reduce debt-to-GDP ratio to around:

A) 40% by 2030
B) 45% by 2031
C) 50% by 2031
D) 55% by 2031

Answer: C (Drishti IAS)

9.

Gross Market Borrowing estimated for FY27:

A) ₹14 lakh crore
B) ₹15 lakh crore
C) ₹16 lakh crore
D) ₹17.2 lakh crore

Answer: D (CGE News - 8th Pay Commission)

10.

Nominal GDP growth assumption for FY27:

A) 8%
B) 9%
C) 10%
D) 10.5%

Answer: D (Drishti IAS)

11.

Real GDP growth projected around:

A) 5%
B) 6%
C) 6.8–7.2%
D) 8.5%

Answer: C (Reuters)

12.

Revenue Receipts estimated:

A) ₹25 lakh crore
B) ₹30 lakh crore
C) ₹35.3 lakh crore
D) ₹40 lakh crore

Answer: C (GovtBudget.com)

13.

Fiscal deficit for FY26 revised estimate:

A) 4.4%
B) 4.3%
C) 5.0%
D) 5.5%

Answer: A (CGE News - 8th Pay Commission)

14.

Budget 2026–27 is primarily focused on:

A) Infrastructure
B) Manufacturing
C) Employment
D) All of these

Answer: D (Reuters)

15.

Interest payments constitute nearly:

A) 10%
B) 18%
C) 26%
D) 35%

Answer: C (GovtBudget.com)

16.

Fiscal deficit amount estimated:

A) ₹10 lakh crore
B) ₹12 lakh crore
C) ₹15.41 lakh crore
D) ₹18 lakh crore

Answer: C (GovtBudget.com)

17.

Capital expenditure is approximately what % of GDP?

A) 2%
B) 2.5%
C) 3.1%
D) 5%

Answer: C (Drishti IAS)

18.

Effective Capital Expenditure is:

A) ₹13 lakh crore
B) ₹15 lakh crore
C) ₹17.1 lakh crore
D) ₹20 lakh crore

Answer: C (Drishti IAS)

19.

Budget 2026–27 was first prepared in:

A) North Block
B) South Block
C) Kartavya Bhawan
D) Vigyan Bhawan

Answer: C (CGE News - 8th Pay Commission)

20.

Budget inspired by how many "Kartavyas"?

A) 2
B) 3
C) 4
D) 5

Answer: B (CGE News - 8th Pay Commission)

21–40: Manufacturing, Infrastructure & Economy

  1. India Semiconductor Mission 2.0 focuses on:
    Ans: Domestic Chip Manufacturing

  2. Rare Earth Corridors support:
    Ans: Critical Minerals

  3. Biopharma SHAKTI allocation:
    Ans: ₹10,000 crore

  4. Capex increase over previous year:
    Ans: About 11.4%

  5. High-Speed Rail Corridors announced for:
    Ans: Connectivity Improvement

  6. National Waterways expansion:
    Ans: 20 Waterways

  7. Manufacturing push aims at:
    Ans: Job Creation

  8. Infrastructure spending mainly boosts:
    Ans: Economic Growth

  9. Capital expenditure creates:
    Ans: Assets

  10. Fiscal consolidation means:
    Ans: Reducing Fiscal Deficit

  11. Semiconductor Mission relates to:
    Ans: Electronics Sector

  12. Rare Earth Corridor supports:
    Ans: Green Technology

  13. Capex FY26 revised estimate:
    Ans: ₹11 lakh crore

  14. Public investment is used as:
    Ans: Growth Driver

  15. Government focuses on:
    Ans: Domestic Manufacturing

  16. Infrastructure capex reached:
    Ans: Record Level

  17. Effective capex includes:
    Ans: State Grants

  18. Budget supports:
    Ans: Supply Chain Resilience

  19. Growth model emphasizes:
    Ans: Manufacturing

  20. Defence domestic sourcing target:
    Ans: 78%

41–60: Taxation & Financial Sector

  1. GST is:
    Ans: Indirect Tax

  2. Income Tax is:
    Ans: Direct Tax

  3. Corporate Tax is:
    Ans: Direct Tax

  4. STT stands for:
    Ans: Securities Transaction Tax

  5. STT on derivatives was:
    Ans: Increased

  6. MAT stands for:
    Ans: Minimum Alternate Tax

  7. MAT reduced from:
    Ans: 15% to 14%

  8. TCS under LRS reduced to:
    Ans: 2%

  9. TCS stands for:
    Ans: Tax Collected at Source

  10. LRS stands for:
    Ans: Liberalised Remittance Scheme

  11. Tax holiday proposed till:
    Ans: 2047

  12. Tax holiday targeted for:
    Ans: Cloud Service Providers

  13. Budget encourages:
    Ans: Foreign Investment

  14. Budget focuses on:
    Ans: Ease of Doing Business

  15. Net Borrowing estimated:
    Ans: ₹11.7 lakh crore

  16. Budget supports:
    Ans: Capital Markets

  17. RBI regulates:
    Ans: Monetary Policy

  18. SEBI regulates:
    Ans: Capital Markets

  19. Fiscal policy controlled by:
    Ans: Government

  20. Monetary policy controlled by:
    Ans: RBI

61–80: Government Schemes & Institutions

  1. MSME stands for:
    Ans: Micro Small and Medium Enterprises

  2. SIDBI supports:
    Ans: MSMEs

  3. NABARD supports:
    Ans: Agriculture

  4. NITI Aayog Chairperson:
    Ans: Prime Minister

  5. GST Council Chairman:
    Ans: Finance Minister

  6. RBI Headquarters:
    Ans: Mumbai

  7. Economic Survey is released:
    Ans: Before Budget

  8. Budget speech delivered in:
    Ans: Parliament

  9. Annual Financial Statement under:
    Ans: Article 112

  10. Vote on Account provides:
    Ans: Temporary Expenditure

  11. Budget year runs:
    Ans: April–March

  12. Public Debt means:
    Ans: Government Borrowing

  13. Fiscal Deficit financed through:
    Ans: Borrowing

  14. Revenue Deficit occurs when:
    Ans: Revenue Expenditure exceeds Revenue Receipts

  15. Disinvestment means:
    Ans: Sale of Government Stake

  16. Blue Economy relates to:
    Ans: Oceans

  17. Green Budget relates to:
    Ans: Environment

  18. Budget promotes:
    Ans: Employment

  19. Infrastructure spending promotes:
    Ans: Investment

  20. Capital formation supports:
    Ans: Long-Term Growth

81–100: Very Important Exam One-Liners

  1. Finance Minister — Nirmala Sitharaman

  2. Fiscal Deficit FY27 — 4.3%

  3. Fiscal Deficit FY26 — 4.4%

  4. Total Expenditure — ₹53.5 lakh crore

  5. Revenue Receipts — ₹35.3 lakh crore

  6. Net Tax Receipts — ₹28.7 lakh crore

  7. Gross Borrowing — ₹17.2 lakh crore

  8. Net Borrowing — ₹11.7 lakh crore

  9. Capex FY27 — ₹12.2 lakh crore

  10. Effective Capex — ₹17.1 lakh crore

  11. Debt-to-GDP Ratio — 55.6%

  12. Debt Target by FY31 — 50%

  13. Real GDP Growth — 6.8–7.2%

  14. Nominal GDP Growth — 10.5%

  15. Semiconductor Mission Version — 2.0

  16. Biopharma SHAKTI Outlay — ₹10,000 crore

  17. MAT Reduced To — 14%

  18. TCS under LRS — 2%

  19. Budget Presented On — 1 February 2026

  20. Union Budget Called — Annual Financial Statement


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