Union Budget for Financial Year 2017-18 :: Part-II Online Test

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Q1). What is the total allocation made for rural, agriculture and allied sectors as per the Union Budget 2017-18?

A. Rs. 188,111 crores

B. Rs. 187,223 crores

C. Rs. 184,222 crores

D. Rs. 185,551 crores

Answer: B

Description: The total allocation for rural, agricultural and allied sectors for 2017-18 is a record Rs 1,87,223 crore which 24% from what was allocated last year.

Q2). What was the total percentage increase in the Capital expenditure as proposed in the Budget Estimate 2017-18 as compared to the previous year?

A. 25.4 Percent

B. 22.5 Percent

C. 20.5 Percent

D. 21.6 Percent

Answer: A

Description: Finance Minister Arun Jaitley has pegged the capital expenditure in 2017-18 at Rs 3.09 lakh crore, up 25.4 per cent from the Budget estimates of Rs 2.47 lakh crore for the current fiscal.

Q3). NABARD will set up dedicated micro-irrigation fund to achieve Per Drop More Crop mission. What is the initial corpus of the fund?

A. Rs. 4500 Crore

B. Rs. 5500 Crore

C. Rs. 4200 Crore

D. Rs. 5000 Crore

Answer: D

Description:

Q4). What is the total allocation made under the Fasal Bima Yojana in the Union Budget 2017-18?

A. Rs. 9000 crore

B. Rs. 7500 crore

C. Rs. 8000 crore

D. None of the Above

Answer: A

Description: Coverage under Fasal Bima Yojana scheme will be increased from 30% of cropped area in 2016-17 to 40% in 2017-18 and 50% in 2018-19 for which a budget provision of Rs. 9000 crore has been made.

Q5). Coverage under National Agricultural Market (e-NAM) has been increased from 250 Agriculture Produce Marketing Committees (APMCs) to _________ APMCs.

A. 455

B. 375

C. 585

D. 600

Answer: C

Description:

Q6). Which of the following statements are true in context to the Union Budget 2017-18?
i.100 stations will be made differently abled friendly by providing lifts and escalators in 2017-18. ii.By 2019, all coaches of Indian Railways will be fitted with bio toilets.
iii.It is proposed to feed about 7,000 stations with solar power in the medium term
iv.Railway lines of 3,500 kms will be commissioned in 2017-18.

A. Only i, iii & iv

B. Only i, ii, iv

C. Only ii & iii

D. Only ii, iii & iv

Answer: D

Description:

Q7). The tax rate for individuals with income between Rs. 2.5 Lakh and Rs.5 lakh has been reduced from 10 Percent to ______ Percent.

A. 7 %

B. 5 %

C. 4 %

D. 8 %

Answer: B

Description: Existing rate of tax for individuals between Rs. 2.5- Rs 5 lakh is reduced to 5% from 10%.

Q8). What percent of surcharge on income tax would be levied on individuals with income between Rs. 50 lakhs and Rs. 1 crore

A. 8 %

B. 9 %

C. 11 %

D. 10 %

Answer: D

Description: 10 % surcharge on individual income above Rs. 50 lakh and up to Rs 1 crore to make up for Rs 15,000 crore loss due to cut in personal I-T rate. 15 surcharge on individual income above Rs. 1 crore to remain.

Q9). Government plans to have single page income tax return filing form for taxable income up to Rs. ________.

A. Rs. 2 Lakh

B. Rs. 4 Lakh

C. Rs. 5 Lakh

D. Rs. 2.50 Lakh

Answer: C

Description: Centre has proposed simple one page return for people with an annual income of Rs. 5 lakh other than business income.

Q10). Small firms with turnover up to Rs.50 crore will need to pay a tax of _____ percent instead of 30 percent

A. 20 %

B. 22 %

C. 24 %

D. 25 %

Answer: D

Description: Under the corporate tax, in order to make MSME companies more viable, there is a proposal to reduce tax for small companies with a turnover of up to Rs 50 crore to 25%. About 67 lakh companies fall in this category. Ninety-six % of companies to get this benefit.

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See Also :-
Union Budget for Financial Year 2017-18 Online Test

Current Affairs Feb 2017

Author : Electronic Study

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