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The Union Budget

Where are Budget papers printed?
Finance Minister P Chidambaram will present the Union Budget for 2004-05 in just a few hours. While you sweat over what he might have in store for you, take the Rediff Business Quiz and relax. Find out what you know about the Indian economy.

Biz Quiz is best viewed in Internet Explorer (IE) and Netscape above version 6.0.

1. Which Indian finance minister has the distinction for maximum rollbacks?
a) Yashwant Sinha
b) P Chidambaram
c) Jaswant Singh

Wrong! Try again.
Wrong! The correct answer is Yashwant Sinha.
In the Union Budget that Yashwant Sinha presented in 2002, he went back on at least five budget proposals. In his Budget presentation, he had proposed to hike LPG price by Rs 40 per cylinder, finally it was a hike by Rs 20. Sec-88 benefits were reduced from 20% to 10% but benefit for individuals earning between Rs 150,000 to 500,000 was revised to 15%. Similarly proposals on dividend tax, service tax and tax deduction on gains from exports were also rolled back.
Correct!
In the Union Budget that Yashwant Sinha presented in 2002, he went back on at least five budget proposals. In his Budget presentation, he had proposed to hike LPG price by Rs 40 per cylinder, finally it was a hike by Rs 20. Sec-88 benefits were reduced from 20% to 10% but benefit for individuals earning between Rs 150,000 to 500,000 was revised to 15%. Similarly proposals on dividend tax, service tax and tax deduction on gains from exports were also rolled back.

2. Where are Budget papers printed?
a) In the press at the Rashtrapati Bhawan
b) Finance ministry press
c) Security Press at Nashik

Wrong! Try again..
Wrong! The correct answer is the finance ministry press.
The finance ministry has its own press in the basement of the building. It employs 30 employees who, during the week before the Budget, stay in the ministry itself and have no means of communicating with the outside world..
Correct!
The finance ministry has its own press in the basement of the building. It employs 30 employees who, during the week before the Budget, stay in the ministry itself and have no means of communicating with the outside world.

3. The word Budget has been derived from:
a) Middle English bowgette
b) Both
c) Middle French bougette

Wrong! Try again..
Wrong! The correct answer is both.
According to the Webster dictionary the word Budget was derived from the Middle English bowgette, which came from Middle French bougette, which in turn is a diminutive of bouge, meaning a leather bag.
Correct!
According to the Webster dictionary the word Budget was derived from the Middle English bowgette, which came from Middle French bougette, which in turn is a diminutive of bouge, meaning a leather bag.

4. Before his current stint, Chidambarm was FM from:
a) 1991-1994
b) 1996 to 1997
c) 1996 to 1998

Wrong! Try again..
Wrong! The correct answer is 1996 to 1998.
The Harvard-educated lawyer-turned-politician, P Chidambaram was finance minister from 1996 to 1998. Known for his 1997 "dream budget" in the United Front government, Chidambaram is vocally pro-reform.
Correct!
The Harvard-educated lawyer-turned-politician, P Chidambaram was finance minister from 1996 to 1998. Known for his 1997 "dream budget" in the United Front government, Chidambaram is vocally pro-reform.

5. Earlier, Budget used to be presented at what time?
a) 5 pm
b) 2 pm
c) 3 pm

Wrong! Try again..
Wrong! The correct answer is 5 p.m.
Budgets were presented at 5 p.m. from 1924-1998. The timing was initially fixed keeping in mind the convenience of the House of Commons in London, which convened round that time. Yashwant Sinha, shifted the Budget speech to noon in 1999.
Correct!
Budgets were presented at 5 p.m. from 1924-1998. The timing was initially fixed keeping in mind the convenience of the House of Commons in London, which convened round that time. Yashwant Sinha, shifted the Budget speech to noon in 1999.

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Budget 2004-05: Complete Coverage

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Compiled by: Rediff Business Desk



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Number of User Comments: 7




Sub: life depend upon BUDGET

it is treemendous. To know what,why,where,to whome, when it NEED


Posted by sharma madan mohan





Sub: comments

Really a good & knowledgable exercise. Knowing something new about printing of budget in Finance Ministry basement.


Posted by Jiwan Kumar





Sub: knanful

We are Indians, we are one among the supper brain in world. I am very thankful to rediffmail which helps to develop our knowledge in ...


Posted by vinod





Sub: Interesting facts

Hi this was an interesting quiz about our budget.. its great to know such details


Posted by Madhusoodhanan





Sub: Budget

Lakhs and lakhs are money is spent on this budget. Why can't we bring in some legislation or change the constitution to make a budget ...


Posted by S.NARAYANAN




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