CLAT GurukulSamudraManthan

Topic 160 · Answers

Union Budget 2026-27: fiscal numbers

All 10 answers, each with its Book 1 RATNA fact. Try the questions first

  1. Question 1Answer C

    What fiscal deficit target did the Union Budget 2026-27 set as a share of GDP?

    • 4.4 per cent
    • 4.8 per cent
    • Correct answer: 4.3 per cent
    • 5.1 per cent

    Core Trigger: The Union Budget for 2026-27 was presented on 1 February 2026, with a fiscal deficit target of 4.3 per cent of GDP.From Book 1 RATNA, topic 160, point 1

  2. Question 2Answer C

    Besides sector schemes, the Budget 2026-27 announced a path for which fiscal goal?

    • Wealth tax
    • Currency devaluation
    • Correct answer: Debt reduction
    • Import substitution

    Focus Areas: It announced schemes for strategic manufacturing, infrastructure, farmers, textiles and data centres, and a debt-reduction path.From Book 1 RATNA, topic 160, point 2

  3. Question 3Answer A

    Who presented the Union Budget for 2026-27?

    • Correct answer: Nirmala Sitharaman
    • Piyush Goyal
    • Pankaj Chaudhary
    • Arun Jaitley

    Current Head: Finance Minister Nirmala Sitharaman presented the Budget.From Book 1 RATNA, topic 160, point 3

  4. Question 4Answer C

    Which statements are correct? 1. Biopharma SHAKTI gets Rs 10,000 crore. 2. India Semiconductor Mission 2.0 was announced.

    • Only 1
    • Only 2
    • Correct answer: Both 1 and 2
    • Neither 1 nor 2

    Key Schemes: Biopharma SHAKTI gets Rs 10,000 crore; India Semiconductor Mission 2.0 and rare-earth corridors were also announced.From Book 1 RATNA, topic 160, point 4

  5. Question 5Answer D

    By which year is the debt-to-GDP ratio targeted at 50 plus or minus 1 per cent?

    • 2028-29
    • 2032-33
    • 2035-36
    • Correct answer: 2030-31

    Debt Path: Debt-to-GDP is 55.6 per cent, targeted at 50 plus or minus 1 per cent by 2030-31; gross borrowing is Rs 17.2 lakh crore.From Book 1 RATNA, topic 160, point 5

  6. Question 6Answer C

    Foreign cloud firms using Indian data centres get a tax holiday till which year?

    • 2030
    • 2035
    • Correct answer: 2047
    • 2040

    Incentives: Foreign cloud firms using Indian data centres get a tax holiday till 2047; Bharat-VISTAAR is an AI tool for farmers.From Book 1 RATNA, topic 160, point 6

  7. Question 7Answer C

    In which House of Parliament was the Union Budget 2026-27 presented?

    • Rajya Sabha
    • Central Hall
    • Correct answer: Lok Sabha
    • Rashtrapati Bhavan

    Venue: The Budget was presented in the Lok Sabha, Parliament House, New Delhi.From Book 1 RATNA, topic 160, point 8

  8. Question 8Answer D

    Who presented the first Budget of independent India on 26 November 1947?

    • John Mathai
    • C.D. Deshmukh
    • Liaquat Ali Khan
    • Correct answer: R.K. Shanmukham Chetty

    Founded: The first Budget of independent India was presented on 26 November 1947 by R.K. Shanmukham Chetty.From Book 1 RATNA, topic 160, point 9

  9. Question 9Answer C

    In which year was the FRBM Act enacted to set statutory fiscal-deficit targets?

    • 1991
    • 2008
    • Correct answer: 2003
    • 2017

    Landmark: The FRBM Act, 2003 set statutory fiscal-deficit targets, making deficit numbers a legal commitment.From Book 1 RATNA, topic 160, point 10

  10. Question 10Answer A

    Which statements are correct? 1. The Rajya Sabha may only recommend changes to a Money Bill within 14 days under Article 109. 2. Article 110 defines Appropriation Bills.

    • Correct answer: Only 1
    • Only 2
    • Both 1 and 2
    • Neither 1 nor 2

    Doctrine: A Money Bill cannot be amended by the Rajya Sabha, which may only recommend changes within 14 days under Article 109.From Book 1 RATNA, topic 160, point 12

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