GK Quiz on Interim Budget 2019 with Answers

GK Quiz on Interim Budget 2019

GK Quiz on Interim Budget 2019 for Aspirants who are preparing for upcoming Competitive Exams. Very important for all kind of exams. Check out how good you are updated on Interim Budget 2019.

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GK Quiz on Interim Budget 2019

GK Quiz on Interim Budget 2019


What is interim budget or vote on account?

A vote on account, also known as interim Budget, essentially means that the government seeks the approval of Parliament for meeting expenditure for the first four months of the fiscal year (April-March) — paying salaries, ongoing programmes in various sectors etc — with no changes in the taxation structure, until a new government takes over and presents a full Budget that is revised for the full fiscal. Over the years, some governments have made policy announcements or tweaked tax rates in the vote on account. Such practices are now being recalled, amid indications that the government may present more than a vote on account on February 1.

Source: Indian Express

1. The Government has decided to hike the gratuity limit from Rs 10 lakh to-
a) 20 lakh
b) 15 lakh
c) 30 lakh
d) None of these

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Answer c) 30 lakh
Government decided to hike the gratuity limit from Rs 10 lakh to Rs 30 lakh and also announced a Mega Pension Yojana under which Rs 3,000 per month will given to unorganised sector employees.

2. In which state interim Union Finance Minister Piyush Goyal announced that the government will set up an All India Institutes of Medical Sciences (AIIMS)?
a) Uttar Pradesh
b) Haryana
c) Madhya Pradesh
d) None of these

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Answer b) Haryana
Interim Union Finance Minister Piyush Goyal announced that the government will set up an All India Institutes of Medical Sciences (AIIMS) in Haryana. This would be 22nd AIIMS which will be set up in the country.

3. What percentage of the government’s involvement in new pension scheme (NPS) determined in Interim Budget?
a) 10%
b) 14%
c) 12%
d) None of these

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Answer b) 14%
Under the 7th Central Pay Commission Report, the New Pension Scheme (NPS) has been liberalised. Under this, keeping the employee’s contribution at 10%, the government has increased its own contribution by 4 per cent, making it 14 per cent.

4. In the event of death of a labourer during service, the amount to be paid by EPFO has been enhanced from Rs2.5 lakh to –
a) 6 lakh
b) 5 lakh
c) 3 lakh
d) None of these

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Answer a) 6 lakh
Government announced that minimum pension for every labourer has been fixed at Rs 1,000 per month. In the event of death of a labourer during service, the amount to be paid by EPFO has been enhanced from Rs 2.5 lakh to Rs 6 lakh.

5. A mega pension scheme namely ‘Pradhan Mantri Shram-Yogi Maandhan’ for the unorganised sector workers will provide pensions to those with monthly income up to –
a) Rs 10,000
b) Rs 20,000
c) Rs 15,000
d) None of these

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Answer c) Rs 15,000

6. Standard deduction increased for salaried class from Rs 40,000 to –
a) Rs 75,000
b) Rs 60,000
c) Rs 50,000
d) None of these

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Answer c) Rs 50,000

7. What is the estimated outlay for railways in the budget has been proposed in 2019.
a) Rs 43,987
b) Rs 53,987
c) Rs 64,587
d) None of these

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Answer c) Rs 64,587
The estimated outlay for railways in the budget has been proposed at Rs 64,587 crore in 2019. The Indian Railways’ overall capital expenditure programme is of Rs 1,58,658 crore.

8. The ESI’s eligibility cover ceiling has been raised from Rs 15,000 per month to ________.
a) Rs 20,000 per month
b) Rs 19,000 per month
c) Rs 21,000 per month
d) None of these

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Answer c) Rs 21,000 per month

9. How many labourers and workers in the unorganized sector are expected to benefit from the ‘Pradhan Mantri Shram-Yogi Maandhan’ within next five years?
a) 5 crore
b) 10 crore
c) 15 crore
d) None of these

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Answer b) 10 crore
The Government will deposit a matching amount in the pension account of the worker every month. At least 10 crore labourers and workers in the unorganised sector are expected to benefit from the ‘Pradhan Mantri Shram-Yogi Maandhan’ within next five years. A sum of Rs 500 crore has been allocated for the Scheme.

10. The bonus ceiling given to workers has also been increased from Rs 3500 per month to-
a) Rs 7,000
b) Rs 5,000
c) Rs 10,000
d) None of these

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Answer a) Rs 7,000
The bonus ceiling given to workers has also been increased from Rs 3500 per month to Rs 7000 per month. The ceiling for pay has also been increased from Rs 10,000 per month to Rs 21,000 per month.

11. How much amount the government has allocated for defence budget?
a) Rs 2 Lakh crore
b) Rs 3 Lakh crore
c) Rs 1 Lakh crore
d) None of these

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Answer b) Rs 3 Lakh crore
The outlay for defence has been enhanced beyond Rs 3 lakh crore.

12. In order to provide better rail and air connectivity with the northeast, how many crore has been made a budgetary allocation?
a) Rs32,166
b) Rs 42,788
c) Rs 58,166
d) None of these

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Answerc) Rs 58,166
This is a 21 per cent increase over the previous year’s budget.

13. The PM Kisan Samman Nidhi Programme ,on this programme government will provide how much amount to farmers owning land under 2 hectares?
a) Rs 8,000
b) Rs 6,000
c) Rs 7,000
d) None of these

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Answer b) Rs 6,000
The scheme will have the Rs 6,000 transferred directly to farmers’ accounts in three installments, Goyals said, adding that the entire cost of Rs 75,000 crore for FY20 will be borne by the central government.

14. The government, increase the exemption limit for income tax paid by individuals from the current Rs 2.5 lakh-
a) Rs 4 lakh
b) Rs 3.5 lakh
c) Rs 5 lakh
d) None of these

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Answer c) Rs 5 lakh
The government ,increase the exemption limit for income tax paid by individuals from the current Rs 2.5 lakh to Rs 5 lakh, providing major relief to salaried class. This translates to a benefit of Rs 18,500 crore to more than 3 crore taxpayers.

15. The interim budget for 2019/20 allocated how much amount for a rural jobs programme(MGNREGA)?
a) Rs 60,000 crore
b) Rs 30,000 crore
c) Rs 50,000 crore
d) None of these

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Answer a) Rs 60,000 crore
The interim budget for 2019/20 allocated Rs 60,000 crore for a rural jobs programme and Rs 19,000 crore for building of roads in the countryside where two-thirds of Indians live.

16. How much amount the government allocated for National Gokul Mission?
a) Rs 800 crore
b) Rs 750 crore
c) Rs 1,000 crore
d) None of these

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Answer b) Rs 750 crore
National Kamdhenu Ayog for cows has been set up and will get Rs 750 crore for National Gokul Mission.

17. Which three state have come on India’s rail map for the first time?
a) Meghalaya, Tripura and Mizoram
b) Meghalaya, Tripura and Manipur
c) Meghalaya, Tripura and Assam
d) None of these

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Answer a) Meghalaya, Tripura and Mizoram.
The people of North East have also received significant benefits of infrastructure development. Arunachal Pradesh came on the air map recently and Meghalaya, Tripura and Mizoram have come on India’s rail map for the first time.

18. Minimum pension for every labourer has been fixed at –
a) Rs 3,000 per month
b) Rs 1,000 per month
c) Rs 2,000 per month
d) None of these

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Answer b) Rs 1,000 per month

19. The government has fixed the minimum support price (MSP) of how many crops?
a) 22
b) 20
c) 24
d) None of these

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Answer a) 22
The government has fixed the minimum support price (MSP) of all 22 crops at a minimum 50 per cent more than the cost.

20. Container freight movement beginning on inland waterways from Kolkata to-
a) Haldiya
b) Prayagraj
c) Varanasi
d) None of these

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Answer c) Varanasi
Under the Sagarmala programme ports will be developed along the coastal areas of the country for faster handling of import and export cargo. With container freight movement beginning on inland waterways from Kolkata to Varanasi, the government is planning to introduce container cargo movement to the North East, by improving navigation capacity of the Brahmaputra river.

21. The government plans to digitise how many villages in the next five years by setting up Common Service Centres (CSCs)?
a) more than 2 lakh villages
b) more than 1 lakh villages
c) more than 4 lakh villages
d) None of these

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Answer b) more than 1 lakh villages

22. Under Anganwadi and Asha Yojana honorarium has been enhanced by about –
a) 25%
b) 50%
c) 40%
d) None of these

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Answer b) 50%

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