Test Yourself on Union Budget 2018

Union Finance Minister Arun Jaitley presented the Budget 2017-18 in the Lok Sabha. To revive the economy and protect the Indian industry from the external shocks Jaitley announced many new initiatives. Against this backdrop, we present you with 15 important questions that test your understanding of the Budget 2017.

1.    As per the Union Budget 2017, two new All India Institutes of Medical Sciences will be started in which of the following two states?

a)    Jharkhand and Gujarat
b)    Jharkhand and Bihar
c)    Rajasthan and Gujarat
d)    Rajasthan and Bihar

2.    As per the Union Budget 2017, how much amount has been allocated for the infrastructure sector for the year 2017-18?
a)    Rs. 2,96,134 crore
b)    Rs. 3,96,134 crore
c)    Rs. 3,86,134 crore
d)    Rs. 4,96,134 crore

3.    The Finance Minister Arun Jaitley, in the Budget 2017 speech, announced that Indian Railways will focus on four major areas. Which of the following is not one of them?
a)    Passenger Safety
b)    Capital and Development Works
c)    Women Security
d)    Cleanliness

4.    How many railways stations will be made differently-abled friendly by providing lifts and escalators, as per the Union Budget 2017?
a)    400
b)    300
c)    1000
d)    500

5.    How much total expenditure is predicted in the Union Budget 2017?
a)    Rs 18.20 lakh crore
b)    Rs 21.47 lakh crore
c)    Rs 27.89 lakh crore
d)    Rs 31.41 lakh crore

6.    The Union Finance Minister presented Union Budget 2017 in the Lok Sabha. In this regard, consider the following statements.

I.    Union Government will launch two new Schemes to promote the usage of BHIM App

II.    These two schemes are Referral Bonus Scheme for individuals and a Cashback Scheme for merchants

Which is/are correct?

a)    Only I
b)    Only II
c)    Both I and II
d)    Neither I nor II

7.    As per the Union Budget 2017, transaction above how much amount will not be permitted in cash?

a)    Rs 3 lakhs
b)    Rs 10 lakhs
c)    Rs 5 lakhs
d)    Rs 7 lakhs

8.    Arun Jaitley in the Union Budget 2017 announced launching of a platform to leverage Information Technology. Name the platform.

a)    VIKAS
b)    SWAYAM
c)    SWARA
d)    SWARNA

9.    Finance Minister Arun Jaitley, in the Union Budget 2017, announced an action plan to eliminate which of the following diseases by the year 2018?

a)    Kala-Azar
b)    Filariasis
c)    Measles
d)    Leprosy

10.    As per the Union Budget 2017, elimination of tuberculosis is targeted by which of the following years?

a)    2020
b)    2019
c)    2025
d)    2027

11.    In order to bring transparency in electoral funding, the cash donation to political parties from one person is limited to

a)    Rs 2000
b)    Rs 3000
c)    Rs 4000
d)    Rs 5000

12.    Personal income tax for people with income in the slab of 2.5 lakh to 5 lakh was reduced from 10% to

a)    5%
b)    6%
c)    7%
d)    8%

13. Fiscal deficit for 2017-18 is pegged at

a)    3.2% of GDP
b)    4.2% of GDP
c)    5.2% of GDP
d)    6.2% of GDP

14.    Which of the following sector was given the status of infrastructure sector?

a)    Entertainment Sector
b)    Affordable Housing
c)    Railways
d)    Inland waterways

15. To improve Ease of Doing Business , presumptive income scheme for audit of entities was raised from Rs. 1 crore to

a)    Rs 2 crore
b)    Rs 3 crore
c)    Rs 4 crore
d)    Rs 5 crore

ANSWERS

1. (a) Jharkhand and Gujarat
2. (b) Rs. 3,96,134 crore
3. (c) Women Security
4. (d) 500
5. (b) Rs 21.47 lakh crore
6. (c) Both I and II
7. (a) Rs 3 lakhs
8. (b) SWAYAM
9. (d) Leprosy
10. (c) 2025
11. (a) Rs 2000
12. (a) 5%
13.  (a) 3.2% of GDP
14. (b) Affordable Housing
15. (a) Rs 2 crore