Wednesday, March 02, 2016

Expected Questions from Union Budget 2016-17


Hello and welcome to ExamPundit. Here are the MOST IMPORTANT Expected Questions from Union Budget 2016-17.


1. According to Union Budget 2016-17, Growth of Economy accelerated to what per cent in 2015-16?
- 7.6%

2. According to Union Budget 2016-17, foreign exchange reserves touched highest ever level of about how much?
- $ 350 billion

3. What is the ‘Clean Environment Cess’ rate in Union Budget 2016-17?
- Rs. 400 per tonne

4. What percent of Krishi Kalyan Cess is introduced in the Union Budget 2016-17?
- 0.5%

5. Krishi Kalyan Cess will come into effect from ___________.
- 1 June 2016


6. 13 cesses, levied by various Ministries in which revenue collection is less than __________  in a year to be abolished.
- Rs. 50 Crore

7. According to Budget 2016-17, What percent is the penalty rate where there is misreporting of facts?
- 200%

8. In Budget 2016-17, Additional tax at the rate of 10% of gross amount of dividend will be payable by the recipients receiving dividend in excess of ________.
- Rs. 10 Lakh per annum


9. In the Union Budget 2016-17, Finance Minister decided to raise the ceiling of tax rebate under section 87A from Rs.2000 to ___________.
- 5000 rupees

10. What amount was allocated for Agriculture and Farmers’ welfare in Budget 2016-17?
- Rs. 35,984 crore

11. Name the newly announced irrigation scheme in Budget 2016-17 which will bring 28.5 lac hectars under irrigation.
- Pradhan Mantri Krishi Sinchai Yojana

12. In Budget 2016-17, finance minister announced to create a dedicated Long Term Irrigation Fund in which financial organisation?
- NABARD

13. In Budget 2016-17, finance minister announced to create a dedicated Long Term Irrigation Fund in NABARD. What will be the initial corpus?
- 20,000 crore rupees

14. In Budget 2016-17, allocation under Pradhan Mantri Gram Sadak Yojana was increased to ______________.
- 19000 crore rupees

15. How much amount was allocated under Prime Minister Fasal Bima Yojana?
- 5500 crore rupees

16. In Budget 2016-17, rupees 850 crore was allocated for how many dairying projects?
- 4

17. How much was allocated for rural sector?
- Rs. 87,765 crore

18. In Budget 2016-17, how much amount was announced to be given as Grant in Aid to Gram Panchayats and Municipalities?
- Rs. 2.87 lakh crore

19. In the Budget 2016-17, how much amount was allocated for MGNREGS?
- 38500 Crore Rupees

20. How many Rurban Clusters will be developed under the Shyama Prasad Mukherjee Rurban Mission?
- 300

21. In Budget 2016-17, it was announced that 100% village electrification will be completed by _______.
- 1st May, 2018

22. In Budget 2016-17, new scheme Rashtriya Gram Swaraj Abhiyan was proposed with allocation of ________.
- 655 crore rupees

23. How much amount was allocated for social sector including education and health care?
- Rs.1,51,581 crore

24. How much amount was allocated for initial cost of providing LPG connections to BPL families?
- Rs. 2000 crore

25. Which health service programme was announced in Union Budget 2016-17?
- National Dialysis Services Programme

26. How much amount was allocated for the 350th Birth Anniversary of Guru Gobind Singh?
- 100 crore rupees

27. In the Budget 2016-17, it was announced that Higher Education Financing Agency to be set-up with initial capital base of _________.
- 1000 crore rupees

28. How much amount was allocated for skill development?
- 1804 crore rupees

29. What percent of contribution will government pay for all new employees enrolling in EPFO for the first three years of their employment?
- 8.33%

30. What was the total outlay for infrastructure in Budget 2016-17?
- Rs. 2,21,246 crore

31. GoI will pay contribution of 8.33% for of all new employees enrolling in EPFO for ______.
- First 3 Years

32. GoI will pay contribution of 8.33% for of all new employees enrolling in EPFO for the first three years of their employment. How much was allocated for this purpose?
- Rs. 1000 Crore

33. How much amount was allocated towards recapitalisation of Public Sector Banks?
- Rs. 25000 crore

34. Which programme was announced to launch which will connect people through exchanges in areas of language, trade, culture, travel and tourism?
- “Ek Bharat Shreshtha Bharat”

35. According to Budget 2016-17, withdrawal up to what percent of the corpus at the time of retirement to be tax exempt in the case of National Pension Scheme (NPS)?
- 40%


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