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LDC Daily Quiz: Union Budget | Kerala PSC

All 20 questions from this finished quiz, with the correct answer and explanation. Finished 31 Oct 2026, 9:38 pm IST.
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  1. 1. Which Article of the Indian Constitution deals with the 'Annual Financial Statement', commonly known as the Union Budget?

    A. Article 110

    B. Article 112

    C. Article 114

    D. Article 116

    Answer: B. Article 112

    Why: Article 112 requires the President to lay before Parliament an annual statement of estimated receipts and expenditure, called the Annual Financial Statement. The word 'Budget' does not appear in the Constitution.

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

    A. John Mathai

    B. C.D. Deshmukh

    C. R.K. Shanmukham Chetty

    D. Liaquat Ali Khan

    Answer: C. R.K. Shanmukham Chetty

    Why: R.K. Shanmukham Chetty, independent India's first Finance Minister, presented its first budget on 26 November 1947.

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