Sunday, August 24, 2014

Expected Questions from Union Budget 2014-15

1.Union Budget of India is referred to as the Annual Financial Statement in which ariticle of the Constitution of India ?
Ans : Article 112

2.Which Finance Minister presented the budget ten times, the most by any in Parliament ?
Ans : Morrji Desai (8 Budgets and 2 Interims)

Indian Government provides ____________crore for rehabilitation of displaced Kashmiri migrants as announced in Union Budget 2014-15?
Ans : Rs 500

3.Crisis Management Center for women will be open at?
Ans : Delhi

4.Name the Finance minister of India who has presented the Union Budget 2014 in Parliament on 10th July 2014 ?
Ans : Arun Jaitley

5.Who has presented the First Union Budget of Independent India on 26th November 1947 ?
Ans : R. K. Shanmukham Chetty

6.Amount allotted for the project of developing 100 Smart Cities?
Ans : Rs. 7,060 crore

7.Mandatory wage ceiling of subscription to EPS (Employee Pension Scheme) raised from Rs 6,500 to __________ ?
Ans : Rs 15,000

8.Housing loan interest rate deduction limit has been increased to?
Ans : 2 lakhs

9.Finance Minister has put forth aim to achieve __________ per cent economic growth rate in next 3-4 years?
Ans : 7-8 %

10.On which day the Union Budget presented in Loksabha normally ?
Ans : Last working day of February by the Finance Minister

11.Agriculture University announced in Budget will be set up at?
Ans : Andhra Pradesh & Rajasthan

12.On 29th February 1964 and 1968, who became the only Finance minister to present the Unoin Budget on his birthday ?
Ans : Morarji Desai

13.Who were the three Prime Ministers who presentedthe Budget in Parliament as they were holding the Finance Ministry portfolio?
Ans :Jawaharlal Nehru, Indira Gandhi and Rajiv Gandhi

14.What is the targeted fiscal deficit for 2016 (year
2015-16) as announced in the Union Budget 2014- 15?
Ans : 3.6% of GDP

15.How much fund was set aside for the proposed National Rural Internet and Technology Mission (NRITM)?
Ans : Rs. 500 crore

16.Investment limit under Section 80C has also been increased to ....... from existing 1 lakhs in Budget 2014?
Ans : 1.5 lakhs

17.When will the Budget come to effect every financial year ?
Ans : 1st April

18.How many new IIMs have been announced in Union Budget 2014?
Ans : 5 (in HP, Punjab, Bihar, Odisha and Rajasthan)

19.What does 'Vote on Account' deals with ?
Ans : Expenditure side of the Government's budget

20.According to the Union Budget 2014-15, what is the projected fiscal deficit for 2014-16 as outlined by the Road map for fiscal consolidation ?
Ans : 3.6 %

21.Until the year 2000, at which time Union Budget was presented in Lok Sabha?
Ans : 5.00 PM

22.From the year 2001 Union Budget was started announcing at 11 am. Who presented the first budget at 11 am in 2001?
Ans : Yashwant Sinha

23.In Union budget 2014 FDI cap in Defense and Insurance sector has been increased to _______% from 26%?
Ans : 49%

24.Fund set aside for PSU banks capitalization?
Ans : Rs 11,200 crore

25.According to the Unoin Budget 2014, India will achieve total sanitation by
which year ?
Ans : 2019

26.Minimum pension increased to ___________ per month in Budget 2014?
Ans : Rs 1,000

27.Income tax exemption limit for senior citizens has been raised to ________ in Budget 2014?
Ans : 3 lakhs

28.Which scheme will be introduced at 9 airports in thecountry as announced in Budget 2014?
Ans : E-visa

29.Govt proposed to set up how many smart cities in Union Budget 2014?
Ans : 100

30.Which new programme was announced in the Union Budget 2014-15 to give impetus to0 watershed development in the country ?
Ans : Neeranchal

31.Plan expenditure pegged at _________ lakh crore?
Ans : Rs 5.75

32.Non-plan expenditure pegged at _________ crore?
Ans : Rs 12.19 lakh

33.How much fund has been provided for “Pradhan Mantri Krishi Sinchayee Yojna” for assured irrigation?
Ans : 1000 crore

34.According to the Union Budget 2014-15, Employment exchanges will be transformed into career centres. What is the corpus of provision made
in this regard ?
Ans : Rs. 100 Crore

35.The Union Budget 2014-15 has announced the development of "one Hundred Smart Cities". The allocated budget for this is ?
Ans : Rs. 7060 Crore

36.The tax exemption limit has been increased to __________ lakhs from existing 2 lakhs in Budget 2014?
Ans : 2.5 lakhs

37.The Union Budget 2014-15 has announced to set up National Academy for Customs & Excise at Hindupur. Hindupu is located in which state ?
Ans : Andhra Pradesh

38.How many new IITs have been announced in Union Budget 2014?
Ans : 5 (in Jammu, Chattisgarh, Goa, Andhra Pradesh and Kerala)

39.How many new AIIMs have been announced in Union Budget 2014?
Ans : 4 (Andhra Pradesh, West Bengal, Vidarbha in Maharashtra and Poorvanchal in Uttar Pradesh)

40.The union budget 2014-15 announced to set up a Hastkala Academy for the preservation, revival, and documentation of the handlom / handicraft sector in PPP mode in ?
Ans : Delhi

41.Govt proposed to launch which programme to ensure broad band connectivity at village level as announced in Union Budget 2014?
Ans : Digital India

42.The National Industrial Corridor (NIC) that was proposed to be established in the Union Budget of 2014-15 will be at?
Ans : Pune

43.EPFO to launch which Service for contributing members?
Ans : Uniform Account Number

44.As announced by the Union Budget 2014-15, under Ajeevika, the provision of bank loan for women Self HelpGroups will be extended to another 100 districts. At what rate is bank loan provided to this programme ?
Ans : 4%

45.According to the Union Budget 2014-154, a project on Ganges named "Jal Marg Vikas" will be developed between which two states ?
Ans : Allahabad and Haldia (Rs 4,200 crore set aside for the purpose)

46.Name the TV channel announced for farmers in Union Budget 2014-15?

47.Name the TV channel announced for North East in Union Budget 2014-15?
Ans : Arun Prabha TV

48.The Union Budget 2014-15 announced that "Swachh Bharat Abhiyan" will cover every houshold with sanitation facility by the year ?
Ans : 2019

49.Name the new programme announced to give impetus to watershed development in the country with an initial outlay of Rs. 2142 crores?
Ans : Neeranchal

50.Name the scheme announced in Budget to generate awareness and help in improving the efficiency of delivery of welfare services meant for women?
Ans : Beti Bachao, Beti Padhao Yojana

51.Two National Institutes of Ageing announced to be set up in Union Budget will be at?
Ans : AIIMS, New Delhi and Madras Medical College, Chennai

52.For the welfare of tribals, which scheme was launched by the Union Budget 2014-15 with an initial allocation of Rs. 100 Crore ?
Ans : Van Bandhu Kalyan Yojana

53.Rs 2,037 crore set aside for Integrated Ganga Conservation Mission called?
Ans : Namami Gange

54.How much fund has been allotted to support about 600 new and existing Community Radio Stations?
Ans : Rs 100 crore

55.As per the Union Budget 2014-15, how many habitations affected with arsenic, fluoride, heavy / toxic elements, pesticides / fertilizers will be
provided safe drinking water through community water purification plants in coming 3 years ?
Ans : 20,000

56.Swachh Bharat Abhiyan to cover every household with sanitation facility by the year?
Ans : 2019

57.Fund allocated for increasing safety of women in large cities?
Ans : Rs 150 crore

58.To provide institutional finance to landless farmers, the Union Budget 2014-15 announced to provide finance to 5 lakh joint farming groups of "Bhoomi Heen Kisan" through which organization ?
Ans : RBI

59.What special feature has been proposed for currency notes in the Union Budget 2014-15?
Ans : Currency notes will henceforth integrate Braille-features to benefit the visually-disabled people

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