FUNDAMENTALS
India overturns tradition as Union budget will be presented on the first day of February instead of the last day. As India prepares for the big day, take this quiz on budgets. Write to us with your questions (with answers), suggestions and cribs to senjam@gmail.com BUDGET 1. What is cooked in the North Block every year one day before the Finance ministry locks itself up for a month to prepare for the budget? 2. It is mandatory for Canadian Finance ministers to wear what new item of attire when they present the budget? 3. Independent India’s very first budget had a fiscal deficit of `24 crore and had only one tax proposal. On what item did the Finance minister Shanmukham Chetty propose a high export duty? 4. The morning of the budget in the UK, the Chancellor of the Exchequer is allowed to fortify himself with what item normally not allowed in parliaments across the world? 5. “Must then a Christ perish in torment in every age” — quote from G.B. Shaw used by R.K. Shanmukhan Chetty in the very first budget. Who or what was he referring to? 6. In Holland, the budget is always presented on a Tuesday in September which is also celebrated as a particular day. What? 7. Finance ministry in India has traditionally been a male preserve. Only one woman has presented the Indian Union budget. Who? 8. In Australia, the members of the opposition, media and other interest groups are allowed to take a peek at the budget the night before it is presented. However, what condition do they have to follow? 9. What famous quote of Victor Hugo did Manmohan Singh famously use when he delivered his Union budget that brought in liberalisation of the Indian economy? 10. India’s fourth Finance minister had the ignominy of being the first minister in independent India to resign on account of his involvement in a scam. Who? ANYTHING GOES 1. The male of a hawk is called Tiercel for a very specific reason. What is that reason? (Tanveer Sabeel, Secunderabad) 2. Who is the only lady who has been the first lady of two different countries? (Commander G.R. Balakrishnan (Retd), Chennai) 3. Ernest Jones, a fast bowler, played 19 Tests from 1894 to 1902 for Australia. What was he involved in the 1989 Test vs England at Melbourne which was the first time this happened in an international Test match? (B.K. Harinath, Mysuru) 4. In order to get blood samples for his experiments on malaria in Secunderabad, which Nobel Prize winner lured people by offering 2-3 annas? (Philip Joshua, Secunderabad) 5. Scientists of China developed a technique where solar panels generate electricity even when water drops (rain) fall on them. The panels are coated with graphene. The process by which raindrops falling on these coated panels generate electricity has a name. What? (U.N. Murthy, Secunderabad) 6. In India the statues of Queen Victoria are found in four South Indian cities besides Kolkata, three of the cities being Chennai, Bengaluru and Madurai. Which is the fourth one? (A.S.M. Rao, Vijaywada) 7. What is unusual about Australian cricketer Luke Pomersbach’s debut in T20 internationals? (Praveen, Mysuru) 8. Bhagwant Singh was arrested for publishing the Lal Qila newspaper during the freedom movement. He later joined the Kirti Gadar party. Identify his famous politician son. (Mahesh Garg, Delhi)