Every year since 2017, the Union Budget has been presented on 1st February. Also, the Rail Budget, which was earlier presented separately since 1925, was merged with the Union Budget in 2016. Since 1947, there have been a total of 73 annual budgets, 14 interim budgets, and four special or mini-budgets. There is also an interesting ceremony called the Budget Halwa ceremony in the Union Budget process.
Also, did you know that Article 112(1) of the Constitution of India mandates the President to lay the Annual Financial Statement, commonly known as the Union Budget, before both the Houses of Parliament for every financial year (1st April to 31st March), which details the government's estimated receipts and expenditures?
The budget session of the Indian Parliament will start on 28th January 2026 and continue till 2nd April 2026. The Union Budget 2026-27 is scheduled to be tabled in the Parliament on 1st February 2026.
Last year, the Union Budget 2025-26 was presented on 1st February 2025 by the Union Finance Minister Nirmala Sitharaman. In this article, we will test your knowledge quickly with 10 MCQs. Let's revise key facts from the last budget.
Can You Score 100% in This GK Quiz on the Union Budget?
Q1. Which pulses are the primary focus of the 6-year Mission for Atmanirbharta?
A. Rice and wheat
B. Tur, urad, and masoor
C. Millets and maize
D. Soybean and groundnut
Answer: B. Tur, urad, and masoor
Explanation: The 6-year “Mission for Aatmanirbharta in Pulses” with a special focus on Tur, Urad and Masoor aims to achieve self-sufficiency in pulses, with guaranteed procurement at Minimum Support Price (MSP) and also offer seed support to boost domestic production and reduce import dependency.
Q2. As per the Budget 2025-2026, in which Indian state was the National Makhana Board set up?
A. Uttar Pradesh
B. Andhra Pradesh
C. Rajasthan
D. Bihar
Answer: D. Bihar
Explanation: The National Makhana Board was established in Bihar to improve production, processing, value addition, and marketign of makhana. The first board meeting of the National Makhana Board was held on 12th December 2025.
Q3. How many new destinations are planned under the UDAN scheme?
A. 50
B. 120
C. 100
D. 200
Answer: B. 120
Explanation: In Budget 2025-26, a modified UDAN scheme was launched to enhance regional connectivity to 120 new destinations and carry 4 crore passengers in the next 10 years.
Q4. How many PM Research Fellowships are allocated for IITs and IISc?
A. 5,000
B. 10,000
C. 20,000
D. 50,000
Answer: B. 10,000
Explanation: The Budget 2025-26 announced that in the next five years, under the PM Research Fellowship scheme, 10,000 fellowships for technological research in IITs and IISc with enhanced financial support have been provided.
Q5. Which scheme in the Budget 2025-26 targets 100 districts with low farm productivity to increase product diversification?
A. Mission for Pulses
B. PM Dhan Dhanya Krishi Yojana
C. Kisan Credit Card Scheme
D. Rural Prosperity Mission
Answer: B. PM Dhan Dhanya Krishi Yojana
Explanation: PM Dhan Dhanya Krishi Yojana will cover 100 districts with low productivity, moderate crop intensity, and below average credit parameters/ It aims enhance agricultural productivity, improve irrigation facilities, and help 1.7 crore farmers.
Q6. What is the revised limit for Kisan Credit Cards under the Modified Interest Subvention Scheme in the Budget 2025-26?
A. Rs. 5 lakh
B. Rs. 10 lakh
C. Rs. 2 lakh
D. Rs. 3 lakh
Answer: A. Rs. 5 lakh
Explanation: The Kisan Credit Cards (KCC) scheme aims to facilitate short term loans for 7.7 crore farmers, fishermen, and dairy farmers. The loan limit under the Modified Interest Subvention Scheme will be enhanced from Rs. 3 lakh to 5 lakh as announced in the Budget 2025-26.
Q7. Till which year the Jal Jeevan Mission was extended for 100% water coverage?
A. 2026
B. 2028
C. 2030
D. 2035
Answer: B. 2028
Explanation: To achieve 100 per cent water coverage, the Jal Jeevan Mission was extended till 2028 in the Budget 2025-26.
Q8. How much was allocated for the education sector in 2025-26?
A. Rs. 1.14 lakh crore
B. Rs. 1.28 lakh crore
C. Rs. 2.66 lakh crore
D. Rs. 5.88 lakh crore
Answer: B. Rs. 1.28 lakh core
Explanation: In the Union Budget 2025-26, Rs. 1,28,650 crore were allocated to the Ministry of Education, with major funds directed towards School Education (Rs. 78, 572 crore) and Higher Education (Rs. 50,078).
Q9. Which acts were proposed for amendment in Budget 2025-26 to encourage private investment in nuclear energy sector?
A. Electricity Act and Environment Act
B. Atomic Energy Act and Civil Liability for Nuclear Damage Act
C. FDI Policy and Nuclear Policy
D. Energy Security Act and Renewable Act
Answer: B. Atomic Energy Act and Civil Liability for Nuclear Damage Act
Explanation: For an active partnership with the private sector and foreign entities and achieve 100 GW nuclear capacity by 2047, amendment to Atomic Energy Act, 1962 and Civil Liability for Nuclear Damage Act, 2010 was taken up and SHANTI Bill was introduced on 22nd December 2025.
Q10. According to the Union Budget 2025-26, what was the estimated fiscal deficit?
A. 5.0 per cent
B. 4.7 per cent
C. 4.4 per cent
D. 4.8 per cent
Answer: C. 4.4 per cent
Explanation: In India's Union Budget 2025-26, the fiscal deficit was estimated at 4.4 per cent of GDP as compared tot 4.8 per cent in 2024-25.
How many questions did you get right? Tell us in the comments section!
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