Government Schemes, Budget, Banking Updates - Question Bank

1. The 'National Broadband Mission' aims to connect all villages with broadband internet by which year?
A) 2023
B) 2024
C) 2025
D) 2030
2. What is the primary function of the 'Deposits Insurance and Credit Guarantee Corporation' (DICGC)?
A) To regulate stock exchanges
B) To insure deposits held in banks and provide credit guarantees
C) To manage foreign exchange reserves
D) To issue new currency notes
3. Which scheme provides financial assistance to citizens for purchasing electric vehicles?
A) National Electric Mobility Mission Plan (NEMMP)
B) Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME)
C) Clean Energy Fund
D) Sustainable Development Goals Initiative
4. The 'National Mission for Clean Ganga' (NMCG) focuses on:
A) Pollution abatement of river Ganga
B) Promoting tourism along the Ganga
C) Hydroelectric power generation from Ganga
D) Irrigation projects using Ganga water
5. What is the main goal of the 'PM GatiShakti' National Master Plan?
A) To promote renewable energy sources
B) To create multi-modal connectivity and reduce logistics costs
C) To improve agricultural productivity
D) To enhance digital literacy across the country
6. Which banking reform introduced the concept of 'Universal Basic Income' in pilot projects?
A) Demonetization
B) Digital India Initiative
C) Various government pilot schemes
D) Financial Inclusion drive
7. The 'Global Housing Technology Challenge India' (GHTCI) was launched to promote:
A) Traditional construction methods
B) Innovative and sustainable construction technologies
C) Affordable housing finance
D) Rural housing schemes
8. What is the primary objective of the 'National Health Authority' (NHA)?
A) To regulate pharmaceutical companies
B) To implement and manage the Ayushman Bharat scheme
C) To provide free medical education
D) To conduct medical research
9. Which Union Ministry is responsible for the implementation of the 'PM-WANI' scheme?
A) Ministry of Electronics and Information Technology
B) Ministry of Communications
C) Ministry of Health and Family Welfare
D) Ministry of Rural Development
10. The 'e-NAM' platform aims to create a unified national market for:
A) Industrial goods
B) Agricultural commodities
C) Handicrafts
D) Textiles
11. What is the role of the 'National Bank for Agriculture and Rural Development' (NABARD)?
A) Regulating stock markets
B) Providing refinance and financial support to agriculture and rural development sectors
C) Managing foreign exchange reserves
D) Setting interest rates for commercial banks
12. The 'Pradhan Mantri Suraksha Bima Yojana' (PMSBY) provides:
A) Life insurance cover
B) Health insurance cover
C) Accident insurance cover
D) Crop insurance cover
13. Which of the following is a key component of the Union Budget's 'Capital Expenditure'?
A) Salaries of government employees
B) Interest payments on loans
C) Expenditure on infrastructure development
D) Subsidies on food and fuel
14. What is the objective of the 'Operation Greens' scheme?
A) To promote green energy
B) To provide price stability for tomato, onion, and potato (TOP) crops
C) To increase forest cover
D) To regulate water resources
15. The 'National Skill Development Corporation' (NSDC) primarily works under which Ministry?
A) Ministry of Finance
B) Ministry of Skill Development and Entrepreneurship
C) Ministry of Labour and Employment
D) Ministry of Education
16. Which banking development allows customers to perform transactions using their Aadhaar number and biometric authentication?
A) Unified Payments Interface (UPI)
B) National Electronic Funds Transfer (NEFT)
C) Aadhaar Enabled Payment System (AePS)
D) Real-Time Gross Settlement (RTGS)
17. What is the maximum deposit limit for accounts opened under the 'Sukanya Samriddhi Yojana'?
A) ₹1,00,000 per annum
B) ₹1,50,000 per annum
C) ₹2,00,000 per annum
D) ₹50,000 per annum
18. Which scheme aims to provide affordable housing for all?
A) Swachh Bharat Abhiyan
B) Pradhan Mantri Awas Yojana (Urban and Rural)
C) Ujjwala Yojana
D) Ayushman Bharat
19. What is the primary focus of the 'National Mission for Sustainable Agriculture' (NMSA)?
A) Promoting organic farming
B) Improving soil health and water use efficiency
C) Increasing the use of chemical fertilizers
D) Expanding genetically modified crops
20. The 'Pradhan Mantri Jan Dhan Yojana' (PMJDY) offers which of the following benefits?
A) Free electricity connections
B) Accident insurance cover
C) Subsidized cooking gas
D) Free mobile phones
21. Which banking reform allowed Non-Banking Financial Companies (NBFCs) to offer services similar to banks?
A) Introduction of Payment Banks
B) Introduction of Small Finance Banks
C) Revised Guidelines for NBFCs
D) Introduction of Universal Banking License
22. What is the main purpose of the 'Pradhan Mantri Vaya Vandana Yojana' (PMVVY)?
A) To provide health insurance
B) To offer pension benefits to senior citizens
C) To support education of girl children
D) To encourage agricultural development
23. Which scheme provides financial support to pregnant women and lactating mothers for nutrition?
A) Janani Shishu Suraksha Karyakram (JSSK)
B) National Health Mission
C) Integrated Child Development Services (ICDS)
D) Pradhan Mantri Matru Vandana Yojana (PMMVY)
24. What does the 'Fiscal Responsibility and Budget Management' (FRBM) Act aim to achieve?
A) Increase government borrowing
B) Reduce the fiscal deficit and improve government debt management
C) Increase taxes on corporations
D) Eliminate all government expenditure
25. The 'National Pension System' (NPS) is regulated by which body?
A) SEBI (Securities and Exchange Board of India)
B) IRDAI (Insurance Regulatory and Development Authority of India)
C) PFRDA (Pension Fund Regulatory and Development Authority)
D) RBI (Reserve Bank of India)
26. Which of the following is a key objective of the Reserve Bank of India's 'Financial Inclusion' initiatives?
A) To increase the number of ATMs
B) To ensure access to financial services at affordable costs
C) To promote the use of credit cards
D) To restrict access to banking services
27. The 'One Nation, One Ration Card' scheme aims to:
A) Standardize the quality of ration across India
B) Allow beneficiaries to purchase food grains from any fair price shop in the country
C) Increase the subsidy provided for food grains
D) Make ration cards fully digital
28. What is the purpose of the 'e-Shram' portal?
A) To register unorganized sector workers
B) To facilitate online filing of income tax returns
C) To track agricultural produce prices
D) To provide information on government job vacancies
29. The 'National Health Mission' (NHM) encompasses which of the following sub-missions?
A) National Rural Health Mission and National Urban Health Mission
B) National Education Mission
C) National Skill Development Mission
D) National Food Security Mission
30. Which banking development significantly boosted digital payments in India?
A) Introduction of the Cheque Truncation System
B) Launch of Unified Payments Interface (UPI)
C) Implementation of Real-Time Gross Settlement (RTGS)
D) Introduction of NEFT
31. What is the main objective of the 'Pradhan Mantri Gram Sadak Yojana' (PMGSY)?
A) To provide electricity to rural households
B) To connect rural habitations with all-weather roads
C) To improve sanitation facilities in villages
D) To promote digital literacy in rural areas
32. In the Union Budget, 'Revenue Deficit' refers to:
A) The difference between total government expenditure and total government receipts, excluding borrowings
B) The difference between government revenue and expenditure
C) The total debt of the government
D) The amount borrowed by the government from the RBI
33. Which scheme aims to provide financial assistance to women for starting small businesses?
A) Mahila Shakti Kendra
B) Pradhan Mantri Mudra Yojana (PMMY)
C) Beti Bachao Beti Padhao
D) National Health Mission
34. What is the primary aim of the 'Startup India' initiative?
A) To promote traditional businesses
B) To foster entrepreneurship and support startups
C) To regulate the stock market
D) To provide subsidies for large industries
35. The 'National Rural Employment Guarantee Act' (NREGA), now MGNREGA, guarantees:
A) 100 days of wage employment in a financial year
B) 50 days of wage employment in a financial year
C) 200 days of wage employment in a financial year
D) Unconditional employment to all rural households
36. Which banking update led to the introduction of 'Payment Banks' in India?
A) RBI's Guidelines on Introduction of New Umbrella Entity for Retail Payments
B) RBI's Guidelines for Licensing of Small Finance Banks
C) RBI's Guidelines for Licensing of Payment Banks
D) Introduction of Aadhaar Enabled Payment System (AePS)
37. What is the maximum age limit for availing benefits under the 'Atal Pension Yojana' (APY)?
A) 40 years
B) 50 years
C) 60 years
D) 70 years
38. Which of the following is a key feature of the 'Goods and Services Tax' (GST) introduced in India?
A) It is a direct tax
B) It is a single indirect tax on the supply of goods and services
C) It is levied only on services
D) It replaced income tax
39. The 'Ujjwala Yojana' is associated with providing:
A) Free laptops to students
B) Subsidized LPG connections to women
C) Financial assistance for housing
D) Skill training for unemployed youth
40. What is the primary goal of the 'Digital India' program?
A) To make India a global manufacturing hub
B) To transform India into a digitally empowered society and knowledge economy
C) To promote traditional Indian arts and crafts
D) To increase agricultural productivity
41. Which scheme provides insurance cover against crop failure for farmers?
A) Pradhan Mantri Fasal Bima Yojana (PMFBY)
B) Kisan Credit Card (KCC)
C) National Agriculture Market (e-NAM)
D) Paramparagat Krishi Vikas Yojana (PKVY)
42. In the context of the Union Budget, what does 'Fiscal Deficit' represent?
A) The difference between government revenue and expenditure
B) The total debt of the government
C) The amount borrowed by the government from the RBI
D) The excess of government expenditure over its revenue, excluding borrowings
43. The 'Swachh Bharat Abhiyan' aimed to improve:
A) Sanitation and cleanliness
B) Healthcare facilities
C) Education standards
D) Rural electrification
44. Which banking update introduced the concept of 'Small Finance Banks' in India?
A) Basel III Norms
B) Payment Banks Guidelines
C) Guidelines for Licensing of Small Finance Banks
D) Introduction of UPI
45. What is the minimum age requirement to be eligible for the 'Pradhan Mantri Jeevan Jyoti Bima Yojana' (PMJJBY)?
A) 18 years
B) 21 years
C) 25 years
D) 30 years
46. The 'Make in India' initiative was launched to encourage:
A) Foreign direct investment
B) Domestic manufacturing and job creation
C) Export of agricultural products
D) Development of digital infrastructure
47. Which of the following is NOT a component of the Union Budget?
A) Revenue Receipts
B) Capital Receipts
C) Revenue Expenditure
D) Private Sector Investment
48. What is the tenure of a Union Budget?
A) One month
B) Six months
C) One year
D) Five years
49. The 'Jan Dhan Yojana' primarily aims to achieve which of the following?
A) Universal access to banking facilities
B) Subsidized LPG connections
C) Free education for girls
D) Crop insurance for farmers
50. What is the primary objective of the 'Ayushman Bharat' scheme?
A) Providing affordable housing
B) Ensuring access to quality healthcare services
C) Promoting financial inclusion
D) Skill development for youth
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