Budget Nuggets

Text by Challenge

The Singapore Budget priorities may change from year to year, but some things remain constant: the need to be far-sighted in planning and be prudent in spending.

Take this quiz to test what you know about the Budget process and the changes in the latest financial year.

  1. The government’s financial year used to follow the calendar year (January — December). When was the shift to the financial year spanning April 1 — March 31 announced?
    1. 1965
    2. 1968
    3. 1986
    4. 1997

Reveal Answer


  1. Time to allocate funds! What performance indicators must be considered?
    1. Qualitative performance indicators
    2. Quantitative performance indicators
    3. Both of the above
    4. None of the above

Reveal Answer


  1. Where does most of the government’s operating revenue come from?
    1. Goods and services tax
    2. Corporate income tax
    3. Personal income tax
    4. Property tax

Reveal Answer


  1. Which sector’s government expenditure increased the most in the last few years?
    1. Social development
    2. Economic development
    3. Government administration
    4. Security and external relations

Reveal Answer


  1. What purpose(s) does/do the reserves serve?
    1. As a strategic resource in times of crisis
    2. To maintain stability of the Singapore dollar
    3. To generate a stream of revenue for government spending
    4. All of the above

Reveal Answer


For more explanations to the answers in this quiz, visit the Ministry of Finance Budget microsite.

 

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