Quiz on Union Budget 2018 – 2019

Take this General Knowledge Quiz on Union Budget 2018 – 2019 now

1) MSP offered on unannounced kharif crops shall be __________ times the production price.
a) 1.3
b) 1.2
c) 1.5
d) 1.4
e) None of these

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Answer c) 1.5
Minimum Support Price (MSP) for all announced kharif crops will be at least one and half times of their production cost, similar to the majority of rabi crops.

2) What is the revised Fiscal Deficit Target of 2018 – 2019 ?
a) 3.5
b) 3.1
c) 3.3
d) 3.4
e) None of these

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Answer c) 3.3
The projected fiscal deficit of the FY 2018-19 is 3.3% of the GDP.

3) How much amount did Union government allotted to the Agri-Market Development Fund for developing agricultural markets of India In the Union Budget 2018?
a) 1000 Cr
b) 1500 Cr
c) 2000 Cr
d) 2500 Cr
e) None of the above

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Answer c) 2000 Cr
An Agri-Market Infrastructure Fund with a corpus of Rs. 2000 crore will be set up for developing and upgrading agricultural marketing infrastructure in the 22000 Grameen Agricultural Markets (GrAMs) and 585 APMCs.

4) How much amount did Union government allotted for Restructured National Bamboo Mission?
a) 1290
b) 1291
c) 1280
d) 1281
e) None of these.

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Answer a) 1290
Propose to launch a Re-structured National Bamboo Mission with an outlay of Rs.1290 crore to promote the bamboo (Green Gold) sector in a holistic manner.

5) Based on the Union Budget 2018 how much amount to be spent for providing livelihood to rural India through infrastructure building?
a) Rs 14.34 lakh crore
b) Rs 14.44 lakh crore
c) Rs 15.34 lakh crore
d) Rs 15.44 lakh crore.
e) None of these.

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Answer a) Rs 14.34 lakh crore.
Rs 14.34 lakh crore to be spent for providing livelihood to rural India through infrastructure building.

6) For senior citizens ,what is the exemption limit of interest income on bank and post office deposits ?
a)80,000
b) 38,000
c) 45,000
d) 50,000
e) None of these

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Answer d) 50,000
Exemption of interest income on deposits with banks and post offices to be increased from Rs. 10,000 to Rs. 50,000.

7) Which of the following is referred to as Green Gold ?
a) Bamboo
b) Timber
c) Coal
d) Jute
e) None of these

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Answer a) Bamboo
Bamboo is phrased as ‘Green Gold’. Bamboo grown outside forest areas has been eliminated from the definition of trees. It is
proposed to launch a Re-Structured National Bamboo Mission with an outlay of Rs 1290 crore to promote bamboo sector in a holistic manner.

8) What is the corpus amount allocated to Railway department in the Union Budget 2018?
a) 148528 Crore
b) 149000 Crore
c) 150000 Crore
d) 155000 Crore
e) None of these.

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Answer a) 148528 Crore
Railways Capital Expenditure pegged at Rs.1,48,528 crore

9) Which of the following insurance company going to merge to United India Insurance?
a) Oriental Insurance.
b) National Insurance.
c) General Insurance.
d) Bothe a and b
e) All of the above

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Answer d) Bothe a and b.
National Insurance Co. Ltd., United India Assurance Co. Ltd., and Oriental India Insurance Co. Ltd., will be merged into a single insurance entity.

10) What will be the projected fiscal deficit for this year?
a) 3.0%
b) 3.1%
c) 3.2%.
d) 3.3%
e) 3.4%

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Answer d) 3.3%
A Fiscal Deficit of 3.3% of GDP is projected by the Finance Minister for the year 2018-19.

11) Which yojana has been declared in the budget for boosting investment in food processing?
a) Prime Minister Krishi Sampada Yojana
b) Prime Minister Krishi Unnati Yojana
C) Prime Minister Kisan Vikas Yojana
d) Pradhan Mantri Awas Yojana
e) None of these

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Answer a) Prime Minister Krishi Sampada Yojana. Prime Minister Krishi Sampada Yojana is our flagship programme for boosting investment in food processing Rs. 1400 crore in 2018-19((last year Rs 715 crore)).

12) Pradhan Mantri Vaya Vandana Yojana up to which year under which an assured return of 8% is given by Life Insurance Corporation of India.?
a) March, 2022
b) March, 2020
c) March, 2021
d) March,2019
e) None of these

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Answer d) March,2019
Pradhan Mantri Vaya Vandana Yojana up to March 2019 year under which an assured return of 8% is given by Life Insurance Corporation of India.

13) By which of the following month loans to self-help groups will increase to Rs 75,000 crore?
a) March 2018.
b) March 2019.
c) March 2020.
d) March 2021.
e) None of these.

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Answer b) March 2019
Loans to self-help groups will increase to Rs 75,000 crore by March 2019.

14) How many IIT and NIT are planned to open in Union Budget 2018?
a) 15
b) 16
c) 17
d) 18
e) 20

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Answer d)18.
18 new schools of planning and architecture will be set up in the IITs and NITs.

15) To harness the benefit of emerging new technologies, particularly the ‘Fifth Generation’ (5G) technologies and its adoption, the Department of Telecom will support establishment of an indigenous 5G Test Bed at which IIT?
a) Lucknow
b) Chennai
c) Kanpur
d) Guwahati
e) None of these

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Answer b) Chennai
To harness the benefit of emerging new technologies, particularly the ‘Fifth Generation’ (5G) technologies and its adoption, the Department of Telecom will support establishment of an indigenous 5G Test Bed at IIT, Chennai.

16)A concession for non-corporate taxpayers operating in IFSC has been provided in which they shall be charged Alternate Minimum Tax (AMT) at concessional rate of _________% at par with Minimum Alternate Tax (MAT) applicable for corporates.
a) 8%
b) 9%
c) 10%
d) 11%
e) None of these

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Answer b) 9%. The concessions propose transfer of derivatives and certain securities by non- residents from capital gains tax, and non corporate tax payers operating in IFSC to be charged Alternate Minimum Tax (AMT) at concessional rate of 9 percent at par with Minimum Alternate Tax (MAT) applicable for corporates.

17) Which scheme is launched for management and conversion of cattle dung and solid waste in farms to compost, fertilizer, bio-gas and bio-CNG?
a) Gau- Dhan
b) GOBAR – Dhan
c) Waste Decompose Scheme
d) Bio – fertilizer scheme
e) None of these

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Answer b) GOBAR – Dhan. A Scheme will be launched called as Galvanizing Organic Bio Agro Resources Dhan (GOBAR DHAN) for management and conversion of cattle dung and solid waste in farms to compost, fertilizer, bio-gas and bio-CNG.

18) Which one will initiate a national program to direct our efforts in the area of artificial intelligence, including research and development of its applications.
a) ISRO
b) IITs
c) NITI Aayog
d) Google
e) None of these

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Answer c) NITI Aayog. In Budget 2018, Amitabh Kant-led Niti Aayog will establish a National Programme to direct efforts in the area of Artificial Intelligence towards national development.

19) The Union government in its budget 2018 has proposed to launch a restructured mission with an outlay of Rs 1290 crore to promote which sector?
a) Handloom
b) Bamboo
c) Traditional Craft
d) Rural Development
e) None of these

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Answer b) Bamboo. Bamboo grown outside forest areas has been eliminated from the definition of trees. It isproposed to launch a Re-Structured National Bamboo Mission with an outlay of Rs 1290 crore to promote bamboo sector in a holistic manner.

20) Government has sanctioned how much amount 99 cities have been selected for Smart City programme?
a) Rs.2.00 lakh crore
b) Rs.2.50 lakh crore
c) Rs.2.05 lakh crore
d) Rs.2.09 lakh crore
e) Rs.2.08 lakh crore

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Answer d) Rs.2.09 lakh crore. 99 cities have been selected with outlay of Rs2.09 lakh crore under Smart City programme.

21) How much fund has the Union Government allocated for its new ‘Operation Green’ mission ?
a) 1000 crore
b) 680 crore
c) 500 crore
d) 1300 crore
e) None of these
Answer c) 500 crore

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Answer c) 500 crore. Govt proposes to launch an ‘‘Operation Greens’’ on the lines of ‘‘Operation Flood’’. ‘‘Operation Greens’’ shall promote Farmer Producers Organizations (FPOs), agri-logistics, processing facilities and professional management. Allocated a sum of Rs 500 crore for this purpose.

22) The Union government has proposed to extend the reach of Ujjwala Yojana to how many poor women in 2018-19?
a) 4 crore
b) 10 crore
c) 8 crore
d) 6 crore
e) None of these
Answer c) 8 crore

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Answer c) 8 crore. It is proposed to increase the target of providing free LPG connection to 8 crore poor women under Prime Minister’s Ujjwala Scheme to make poor women free from the smoke of wood.

23) The Indian Railways is planning to re-develop how many major railway stations in 2018?
a) 400
b) 540
c) 730
d) 600
e) None of these

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Answer d) 600. Redevelopment of 600 major railway stations is being taken up by Indian Railway Station Development Co. Ltd. All stations with more than 25000 footfalls will have escalators.

24) The government would be setting up an institute to train manpower for high-speed railway project in which city?
a) Ahmedabad
b) Surat
c) Pune
d) Vadodara
e) None of these

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Answer d) Vadodara. An institute is under its way at Vadodara to train manpower for high-speed railway projects.

25) What is the salary of President as per Union Budget 2018?
a) Rs 5 lakh
b) Rs 4 lakh
c) Rs 3 lakh
d) Rs 2 lakh
e) None of these

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Answer a) Rs 5 lakh. Salaries of President (Rs. 5 lakh), VP (Rs 4.0 lakh), and Governors (Rs 3.5 lakh) will be increased and salaries of Members of Parliament will also be raised.

26) Under which scheme Six crore toilets have been built already, and in the next year, two crore additional toilets will be constructed?
a) Saubhagya Yojana
b) Ujala
c) UDAN
d) UPI
e) None of these.

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Answer a) Saubhagya Yojana. The Saubhagya Yojana will be another focus for the government. Six crore toilets have been built already, and in the next year, two crore additional toilets will be constructed.

27) What was the total fiscal expenditure of the Union Government in 2017-18 as per Union Budget 2018?
a) Rs 21.47 lakh crore
b) Rs 21.57 lakh crore
c) Rs 21.67 lakh crore
d) Rs 21.77 lakh crore
e) None of these

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Answer b) Rs 21.57 lakh crore. The union Finance minister Arun jaitley on 1st feb 2018 presented the union budget 2018 in the parliament . In the independent India , this is the 88th budget and the 5th of the modi Goverment . The total Expenditure of the union government is Rs 21.57 lakh crore.

28) As per Union Budget 2018, senior citizens will now be able to claim benefit of deduction of what amount in case of critical illnesses?
a) Rs 50000
b) Rs 75000
c) Rs 100000
d) Rs 125000
e) None of these

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Answer c) Rs 100000. This year budget Proposes a standard deduction of Rs 40000 for transport and medical reimbursements. All senior citizens will now be able to claim benefit of a deduction of Rs 50000 for any medical Expenditure and claim deduction of Rs 100000 for Critical illnesses.

29) As per Union Budget 2018, the Customs duty on mobile phones and parts of televisions will be increased to what per cent?
a) 20 per cent
b) 25 per cent
c) 30 per cent
d) 35 per cent
e) None of these

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Answer a) 20 per cent. The union Finance minister Arun jaitley on 1st feb 2018 presented the union budget 2018 in the parliament. As per the budget, Customs duty on mobile phones and parts of televisions will be increased to 20 percent from 15 percent . Customs duty on raw Cashew will be reduced from 5 percent to 25 percent.

30) How much percentage did the government will contribute to EPF contribution for new employees in all sectors for the next three years?
a) 10
b) 11
c) 12
d) 13
e) 15

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Answer c) 12. The government will contribute 12% to EPF contribution for new employees in all sectors for the next three years.

31) In order to curb TB the Govt will provide how much rupees per month to all the TB patients during their duration of treatment?
a) Rs 600
b) Rs 1000
c) Rs 500
d) Rs 850
e) None of these

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Answer a) Rs 600. Government Allocated additional Rs600 crore to provide nutritional support to all TB patients at the rate of Rs500 per month for the duration of their treatment.

32) Which scheme will be revamped to enable people to open a hassle-free Gold Deposit Account?
a) Gold Account Scheme
b) Valuable assest Scheme
c) Gold Monetization Scheme
d) Gold Scheme
e) None of these

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Answer c) Gold Monetization Scheme. A comprehensive Gold Policy will be framed in order to develop gold as an asset class.

33) The emoluments of the President, the Vice President and the Governors are revised at _______, _________ & ______?
a) 6 lakh, 5 lakh, 4 lakh
b) 5.5 lakh, 4 lakh, 3.5 lakh
c) 5 lakh, 4 lakh, 3.5 lakh
d) 4 lakh, 6 lakh, 5 lakh
e) None of these

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Answer c) 5 lakh, 4 lakh, 3.5 lakh
Salaries of President (Rs. 5 lakh), VP (Rs 4.0 lakh), and Governors (Rs 3.5 lakh) will be increased and salaries of Members of Parliament will also be raised.

34) what Corpus amount did government allotted for Bharatmala project approved for better road connectivity ?
a) Rs 5.45 lakh crore
b) Rs 5.55 lakh crore
c) Rs 5.25 lakh crore
d) Rs 5.35 lakh crore
e) None of these

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Answer d) Rs 5.35 lakh crore
Bharatmala project approved for better road connectivity at Rs 5.35 lakh crore.

35) How many free gas connections for poor women through Ujjwala Yojana?
a) 8 crore
b) 6 crore
c) 5 crore
d) 4 crore
e) None of these

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Answer a) 8 crore. It is proposed to increase the target of providing free LPG connection to 8 crore poor women under Prime Minister’s Ujjwala Scheme to make poor women free from the smoke of wood.

36) Free power connections to ____ homes under Saubhagya Yojana?
a) 4 crore
b) 6 crore
c) 8 crore
d) 3 crore
e) None of these

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Answer a) 4 crore. An amount of Rs 16,000 Crore is being spent under Prime Minister Saubhagya Yojana for providing electricity to 4 Crore households of the country free of charge.

37) State-of the-art testing facilities will be set up in how many Mega Food Parks?
a) 50
b) 38
c) 42
d) 22
e) None of these

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Answer c) 42. India’s sunrise food processing sector allocation doubled from INR 715 Cr to INR 1400 Cr in 2018-18; state-of-the art facilities proposed to be set up in 42 mega food parks.

38) The Govt would identify 1,000 best B.Tech students each year from premier institutions and provide them facilities to do Ph.D in IITs and IISc, with a handsome fellowship under which scheme ?
a) Prime Minister’s fellowship scheme
b) Prime Minister’s Research Fellows (PMRF) Scheme
c) Prime Minister’s Higher Education Scheme
d) Prime Minister’s Education scheme
e) None of these

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Answer b) Prime Minister’s Research Fellows (PMRF) Scheme. Prime Minister’s Research Fellows (PMRF)’’ Scheme, Each year 1,000 best B.Tech students from premier institutions and provide facilities to do Ph.D. in IITs and IISc, with a handsome fellowship.

39) How much amount has been allocated for credit support to through capital and interest subsidy to Micro Small and Medium Enterprises?
a) Rs 3,790 crore
b) Rs 3,784 crore
c) Rs 3,794 crore
d) Rs 3,798 crore
e) None of these

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Answer c) Rs 3,794 crore. Rs 3,794 crore allocated for credit support to through capital and interest subsidy to Micro Small and Medium Enterprises.

40) The government will not consider which currency as legal tender?
a) Bitocurrency.
b) Pitocurrency
c) Indian Currency
d) Cryptocurrency
e) None of these

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Answer d) Cryptocurrency. The government will not consider cryptocurrency as legal tender.

41) How much amount has been allocated for credit support to through capital and interest subsidy to Micro Small and Medium Enterprises?
a) Rs 3,794 crore
b) Rs 3,784 crore
c) Rs 3,780 crore
d) Rs 3,798 crore
e) None of these

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Answer a) Rs 3,794 crore. Rs 3,794 crore allocated for credit support to through capital and interest subsidy to Micro Small and Medium Enterprises.

42) The government will explore use of which type of technology proactively to boost digital economy?
a) Cryptocurrency
b) Bitcoin
c) Blockchain
d) All of these
e) None of these

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Answer c) Blockchain. The government will explore use of blockchain technology proactively to boost digital economy.

43) Totally how many projects sanctioned under the Namami Ganga Programmme ?
a) 185
b) 190
c) 199
d) 187
e) None of these

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Answer d) 187. Total 187 projects sanctioned under the Namami Ganga programme.

44) How much amount is allotted for the textile sector in the union budget 2018?
a) 7140
b) 7142
c) 7144
d) 7148
e) None of these

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Answer d) 7148. Government has allotted Rs.7148 crore for the textile sector.

45) How munch amount has allocated to Food processing ministry in the union budget 2018?
a) 715 crore
b) 815 crore
c) 950 crore
d) 1400 crore
e) None of these

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Answer d) Rs 1400 Crore. Allocation to food processing ministry is being doubled from Rs 715 crore to Rs 1400 crore.

46) The salaried tax payer paid total tax of `1.44 lakh crores which works out to average tax payment of `_____per individual salaried taxpayer
a) 76,306/-
b) 75,000/-
c) 74,849/-
d) 79,000/-

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Answer a) 76,306/-. For assessment year 2016-17, 1.89 crore salaried individuals have filed I-T returns and paid total tax of Rs 1.44 lakh crore, which works out to average tax payment of Rs 76,306 per individual salaried taxpayer.

47) Disinvestment target of _________crore has been set for this year?
a) Rs 50000
b) Rs 80000
c) Rs 70000
d) Rs 60000
e) None of these

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Answer b) 80000. Disinvestment target of Rs 80,000 crore has been set for this year.

48) The standard deduction given to the salaried employees will cost government the revenue cost of approximately `________?
a) 7,000 Cr
b) 8,000 Cr
c) 6,000 Cr
d) 5,000 Cr
e) None of these

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Answer b) 8,000 Cr. Revenue loss from the reduction in the tax rate during 2018-19 is estimated at Rs 7,000 crore (US$ 1.1 billion).

49) For senior citizens, Exemption of interest income on deposits with banks and post offices to be increased from `10,000/- to `_________and TDS shall not be required to be deducted on such income, under section 194A.
a) 50,000
b) 40,000
c) 15,000
d) 25,000
e) None of these

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Answer a) 50,000. For senior Citizens Exemption of interest income on deposits with banks and post offices to be increased from `10,000/ to `50,000/ and TDS shall not be required to be deducted on such income, under section 194A.

50) All senior citizens will now be able to claim benefit of deduction up to `_________per annum in respect of any health insurance premium and/or any general medical expenditure incurred
a) 1,00,00/-
b) 50,000/-
c) 45,000/-
d) 60,000/-
e) None of these

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Answer b) 50,000/-. Raising the limit of deduction for health insurance premium and/ or medical expenditure from`30,000/ to `50,000/ , under section 80D. All senior citizens will now be able to claim benefit of deduction up to `50,000/- per annum in respect of any health insurance premium and/or any general medical expenditure incurred.

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Vignesh

Vignesh Sathyan is the Founder of Day Today GK, a portal that helps Aspirants who are preparing for Competitive Exams.

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2 Comments

  • Sir please clarify on this answer and its explanation.
    31) In order to curb TB the Govt will provide how much rupees per month to all the TB patients during their duration of treatment?
    a) Rs 600
    b) Rs 1000
    c) Rs 500
    d) Rs 850
    e) None of these

    Click here to view Answer
    Answer a) Rs 600. Government Allocated additional Rs600 crore to provide nutritional support to all TB patients at the rate of Rs500 per month for the duration of their treatment.

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