Budget 2017 Quiz: Financial Sector and Fiscal Expenditure

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 10 important questions that test your understanding of the key points related to the Financial Sector and Fiscal Consolidation.

1.    As per the Union Budget 2017, which of the following national agencies will be phased-out in the next fiscal?

a)    Foreign Investment Promotion Board
b)    Investment Promotion Agency
c)    Indian Chamber of Commerce
d)    None of the above

2.    As per the Finance Minister Arun Jaitley’s Union Budget 2017 speech, how much per cent of the total FDI inflows are now through the automatic route?

a)    88%
b)    92%
c)    90%
d)    45%

3.    As per the Union Budget 2017, threshold limit for audit of business entities that opt for presumptive income scheme has been raised to how much amount?

a)    Rs. 1 crore
b)    Rs. 2 crore
c)    Rs. 3 crore
d)    Rs. 1.5 crore

4.    The budget target under the Pradhan Mantri Mudra Yojana has been doubled to how much amount?

a)    Rs. 1.44 lakh crores
b)    Rs. 2.44 lakh crores
c)    Rs. 2.45 lakh crores
d)    Rs. 2.40 lakh crores

5.    How much amount has been earmarked for the recapitalisation of Banks in 2017-18?

a)    Rs. 10000 crores
b)    Rs. 20000 crores
c)    Rs. 5000 crores
d)    Rs. 7500 crores

6. As per the Union Budget 2017, fiscal deficit for 2017-18 pegged at how much percent of GDP?

a)    3.3 per cent
b)    3.4 per cent
c)    3.5 per cent
d)    3.2 per cent

7. The Finance Minister Arun Jaitley, in the Union Budget 2017 speech, committed to achieve how much percent fiscal deficit in the fiscal year 2018-19?

a)    3.3 per cent
b)    2 per cent
c)    3 per cent
d)    None of the above

8. How much amount has been allocated for the defence expenditure?

a)    Rs. 86488 crores
b)    Rs 265114 crores
c)    Rs 284114 crores
d)    Rs 274114 crores

9. The Revenue Deficit for 2017-18 is pegged at how much percent?

a)    1.9 per cent
b)    2 per cent
c)    1.8 per cent
d)    2.1 per cent

10. The allocation for Scientific Ministries has been increased to how much amount for the FY 2017-18?

a)    Rs. 37435 crore
b)    Rs. 36535 crore
c)    Rs. 47435 crore
d)    Rs. 37525 crore

ANSWERS

1.    (a) Foreign Investment Promotion Board
2.    (c) 90%
3.    (b) Rs. 2 crore
4.    (b) Rs. 2.44 lakh crores
5.    (a) Rs. 10000 crores
6.    (d) 3.2 per cent
7.    (c) 3.3 per cent
8.    (d) Rs 274114 crores
9.    (d) 1.9 per cent
10.  (a) Rs. 37435 crore