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Interim Budget 2019 Quiz

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Interim Budget 2019 Quiz

shape Introduction

'Interim' means meanwhile. The case, when it's an outgoing government or the case where the government doesn't have time to present the full budget because of the approaching elections, the government presents a proposed budget which later can be approved finally by the incoming government. Interim Budget 2019 Quiz lists some of the important points of Interim Budget 2019 of India in the Q&A format.
An Interim Budget is not the same as a 'Vote on Account'. While a 'Vote on Account' deals only with the expenditure side of the government's budget, an Interim Budget is a complete set of accounts, including both expenditure and receipts.
Difference between Interim Budget and Full Budget:
The outgoing government announces an Interim Budget or Vote on Account in February which is followed by a full budget by the new government in a few months' time after the elections.
A key point of difference between Interim Budget and a full-fledged Union budget is that the former is only valid for two months (until the new government presents its budget) while the latter is for a whole year.

shape Quiz

1. Income up to how much rupees exempted from Income Tax?
    A. 3, 00, 000 B. 4, 00, 000 C. 5, 00, 000 D. 7, 00, 000 E. None of these

Answer: Option C
Explanation: Income up to Rs. 5 lakh exempted from Income Tax
2. Standard deduction on taxable income for salaried class raised from 40,000 to how much rupees?
    A. 50000 B. 60000 C. 75000 D. 100000 E. None of these

Answer: Option A
Explanation: Standard deduction on taxable income for salaried class increased to Rs50,000 from Rs40,000 per financial year
3. Individuals with gross income of up to ________ need not pay any tax if they make investments in provident funds and prescribed equities
    A. 6 Lakh B. 6.5 Lakh C. 7.5 Lakh D. 9 Lakh E. None of these

Answer: Option B
Explanation: Individuals with gross income of up to 6.5 lakh need not pay any tax if they make investments in provident funds and prescribed equities
4. Limit of exemption on Gratuity amount has been increased to how much rupees from Rs10 lakh?
    A. 15 Lakh B. 20 Lakh C. 25 Lakh D. 30 lakh E. 50 Lakh

Answer: Option D
Explanation: Limit of exemption on Gratuity amount has been increased to Rs30 lakh from Rs10 lakh
5. How much tax on notional rent on a second self - occupied house?
    A. 5% B. 7% C. 9% D. 10% E. Tax Exempted

Answer: Option E
Explanation: Tax exempted on notional rent on a second self- occupied house
6. Tax deducted at source on interest income from the deposit in banks and post-offices raised from Rs 10,000 to how much rupees?
    A. 20000 B. 25000 C. 30000 D. 40000 E. None of these

Answer: Option D
Explanation: Tax deducted at source on interest income from the deposit in banks and post-offices raised from Rs. 10,000to Rs. 40,000
7. Tax deducted at source on rental income increased from 1.8 lakh to how much rupees?
    A. 2.1 Lakh B. 2.4 Lakh C. 2.7Lakh D. 3Lakh E. None of these

Answer: Option B
Explanation: Tax deducted at source on rental income increased from 1.8 lakh to 2.4 lakh
8. Tax benefits for affordable housing extended till?
    A. June 30, 2019 B. December 31, 2019 C. March 31, 2020 D. December 31, 2020 E. None of these

Answer: Option C
Explanation: Tax benefits for affordable housing extended till March 31, 2020.
9. Tax exemption period on notional rent on unsold inventories extended to how many years from one year?
    A. 5 years B. 4 years C. 3 years D. 2years E. None of these

Answer: Option D
Explanation: Tax exemption period on notional rent on unsold inventories extended to two years from one year
10. Businesses with an annual turnover of less than Rs. 5 crores will be allowed to file their returns __________
    A. Monthly B. Quarterly C. Half Yearly D. Annually E. None of these

Answer: Option B
Explanation: Businesses with an annual turnover of less than Rs. 5 crores will be allowed to file their returns quarterly.
1. How many digital villages planned in the next five years?
    A. 1 Lakh B. 2 Lakh C. 3 Lakh D. 5 Lakh E. None of these

Answer: Option A
Explanation: One lakh digital villages planned in the next five years
2. What is the name of the new scheme announced for Farmers?
    A. Pradhan Mantri Kiran Samman Nidhi B. Pradhan Mantri Kisan Samman Nivas C. Pradhan Mantri Kisan Samman Nidhi D. Pradhan Mantri Kisan Saras Nidhi E. Pradhan Mantri Kisan Sharad Nidhi

Answer: Option C
Explanation: Farmers owning up to two hectares of land will get Rs. 6,000 per year as income support under the new scheme PradhanMantriKisanSammanNidhi. The amount will be transferred in three tranches directly to the accounts of farmers.
3. Farmers owning up to two hectares of land will get how much rupees per year as income support under the new scheme?
    A. 5000 B. 6000 C. 7500 D. 9000 E. None of these

Answer: Option B
Explanation: Farmers owning up to two hectares of land will get Rs. 6,000 per year as income support under the new scheme PradhanMantriKisanSammanNidhi. The amount will be transferred in three tranches directly to the accounts of farmers.
4. How many rupees outlay for Pradhan Mantri Kisan Samman Nidhi Financial year 2019-20?
    A. 25,000 crore B. 50,000 crore C. 75,000 crore D. 90,000 crore E. None of these

Answer: Option C
Explanation: 12 crore small and marginal farmers to be provided with an assured yearly income of Rs. 6000 per annum under PM-KISAN. An outlay of Rs. 75,000 crore for FY 2019-20 with additional Rs. 20,000 crore in RE 2018-19.
5. Name the new pension scheme launched in the budget?
    A. PradhanMantriShram Yogi Madha B. Pradhan Mantri Shiva Yogi Mandhan C. Pradhan Mantri Shram Yojana Mandhan D. Pradhan Mantri Shram Yogi Mandhan E. Pradhan Mantri Sukanya Yojana Mandhan

Answer: Option D
Explanation: New pension scheme PradhanMantriShram Yogi Mandhan to provide monthly pension of Rs. 3,000 after 60 years of age, with the contribution of only Rs100 per month.
6. Government to contribute how much percent the amount under New Pension Scheme?
    A. 14% B. 12% C. 10% D. 8% E. 5%

Answer: Option A
Explanation: Government to contribute 14% amount under New Pension Scheme.
7. PradhanMantriShram Yogi Mandhan scheme to ensure fixed monthly pension to how many unorganized sector workers?
    A. 5 crore B. 8 crore C. 10 crore D. 12 crore E. None of these

Answer: Option C
Explanation: PradhanMantriShram Yogi Mandhan scheme to ensure fixed monthly pension to 10 crores unorganized sector workers
8. Under the new pension scheme, how much rupees received per month after 60 years of age with an affordable contribution of only Rs 100/55 per month?
    A. 6000 B. 5000 C. 4000 D. 3000 E. None of these

Answer: Option D
Explanation: Under the new pension scheme Rs. 3000 received per month after 60 years of age with an affordable contribution of only Rs 100/55 per month.
9. How much percent interest relief for farmers pursuing animal husbandry and fisheries?
    A. 2% B. 3% C. 4% D. 5% E. None of these

Answer: Option A
Explanation: Two percent interest relief for farmers pursuing animal husbandry and fisheries.
10. Which of the following authority to be set up for sustainable genetic up-gradation of the cow resources?
    A. RashtriyaKaramchandAyog B. RashtraKamdhenuAyog C. RashtriyaKamdhenuAyog D. RakshanKamdhenuAyog E. None of these

Answer: Option C
Explanation: RashtriyaKamdhenuAyogto is set up for sustainable genetic up-gradation of the cow resources.
1. How much percentinterest subsidy for MSMEs on an incremental loan of Rs. 1 crore for GST- registered entities?
    A. 2% B. 3% C. 4% D. 5% E. None of these

Answer: Option A
Explanation: 2% interest subsidy for MSMEs on an incremental loan of Rs. 1 crore for GST-registered entities.
2. At least how much percent of the 25% sourcing for the government undertakings to be from women-owned SMEs?
    A. 5% B. 4% C. 3% D. 2% E. None of these

Answer: Option C
Explanation: At least 3% of the 25% sourcing for the government undertakings to be from women-owned SMEs.
3. How much amount allocation for MGNREGA in 2019-20?
    A. Rs. 60,000 crore B. Rs. 75,000 crore C. Rs. 80,000 crore D. Rs. 90,000 crore E. None of these

Answer: Option A
Explanation: Rs. 60,000 crore allocation for MGNREGA in 2019-20.
4. Fiscal deficit fixed at how much percent of GDP for 2019-20?
    A. 2.4% B. 2.9% C. 3.2% D. 3.4% E. 3.7%

Answer: Option D
Explanation: Fiscal deficit fixed at 3.4% of GDP for 2019-20.
5. Current Account Deficit fixed at how much percent of GDP for 2019-20?
    A. 2.2% B. 2.5% C. 2.7% D. 2.9% E. 3.1%

Answer: Option B
Explanation: Current Account Deficit fixed at 2.5% of GDP for FY20.
6. How amount estimated for Capital Expenditure for 2019-20?
    A. 3,30,292crore B. 3,33,292crore C. 3,36,292crore D. 3,39,292crore E. 3,32,292crore

Answer: Option C
Explanation: Capital Expenditure for 2019-20 BE estimated at Rs. 3,36,292crore.
7. Exemptions from GST for small businesses increased from Rs. 20 lakh to how much amount?
    A. 25 lakh B. 30 lakh C. 35 lakh D. 40 lakh E. 50 lakh

Answer: Option D
Explanation: Exemptions from GST for small businesses doubled from Rs. 20 lakh to Rs. 40 lakh.
8. How many percentages of MUDRA Loan availed by Women?
    A. 50% B. 60% C. 70% D. 75% E. None of these

Answer: Option C
Explanation: 70% of MUDRA Loan availed by Women
9. Maternity leave extended to how many weeks from 12 weeks?
    A. 26 weeks B. 20 weeks C. 18 weeks D. 15 weeks E. None of these

Answer: Option A
Explanation: Maternity leave extended from 12 weeks to 26 weeks
10. The 4R approach has been implemented to ensure clean banking, which one of the following is not one of that?
    A. Recognition B. Resolution C. Recover D. Recapitalization E. Reforms

Answer: Option C
Explanation: The 4R approach has been implemented to ensure clean banking 1. Recognition 2. Resolution 3. Recapitalization 4. Reforms
1. How much percent assured MSP to all 22 crops?
    A. 30% B. 50% C. 60% D. 75% E. None of these

Answer: Option B
Explanation: Assured MSP of minimum 50% to all 22 crops
2. How much amount allotted for PradhanMantri Gram SadakYojana in 2019-20?
    A. Rs. 27,000 crore B. Rs. 23,000 crore C. Rs. 20,000 crore D. Rs. 19,000 crore E. None of these

Answer: Option D
Explanation: Rs. 19,000 crore for PradhanMantri Gram SadakYojana in 2019-20
3. How much amount allotted to Defence for 2019-20?
    A. 1,00,000crore B. 1,50,000crore C. 2,00,000crore D. 2,50,000crore E. 3,00,000crore

Answer: Option E
Explanation: Defense budget to cross Rs 3,00,000crore for the first time ever
4. Three states came on India’s rail map for the first time, which of the following state is not one of them?
    A. Meghalaya B. Tripura C. Sikkim D. Mizoram E. Both Meghalaya and Mizoram

Answer: Option C
Explanation: Meghalaya, Tripura, and Mizoram came on India’s rail map for the first time
5. Which of the following state came on the air map recently?
    A. Madhya Pradesh B. Sikkim C. Haryana D. Arunachal Pradesh E. Mizoram

Answer: Option D
Explanation: Arunachal Pradesh came on the air map recently
6. How much amount allotted to SC, ST welfare for 2019-20?
    A. 74,800 crore B. 76,800 crore C. 77,800 crore D. 78,800 crore E. 79,800 crore

Answer: Option B
Explanation: SC, ST welfare to get 76,800 crores for 2019-20
7. How much amount allotted to National Education Mission for 2019-20?
    A. 31,572 crore B. 33,572 crore C. 35,572 crore D. 36,572 crore E. 38,572 crore

Answer: Option E
Explanation: National Education Mission allocation increased by about 20% to Rs. 38,572 crore
8. How much amount allotted to Integrated Child Development Scheme for 2019-20?
    A. 22,584 crore B. 25,584 crore C. 27,584 crore D 29,584 crore E. 20,584 crore

Answer: Option C
Explanation: Allocation for Integrated Child Development Scheme increased by over 18% to Rs. 27,584 crore
9. How much amount allotted to North East for 2019-20?
    A. 52,166 crore B. 54,166 crore C. 55,166 crore D. 56,166 crore E. 58,166 crore

Answer: Option E
Explanation: Allocation for North East increased by 21% to Rs. 58,166 crore in for 2019-20
10. How much amount allotted to Railways for 2019- 20?
    A. 60,587 crore B. 62,587 crore C. 64,587 crore D. 66,587 crore E. 68,587 crore

Answer: Option C
Explanation: Railways to get capital support of Rs. 64,587 crore in for 2019-20
1. 22[latex]^ {nd}[/latex] AIIMS to be set up in which state?
    A. Assam B. Himachal Pradesh C. Uttar Pradesh D. Haryana E. Jammu and Kashmir

Answer: Option D
Explanation: 22[latex]^ {nd}[/latex] AIIMS to be set up in Haryana
2. Department of Industrial Policy and Promotion renamed as?
    A. Department for Policy of Industries and Internal trade B. Department for Promotion of Industries and Internal trade C. Department for Promotion of Industries and Foreign trade D. Department for Promotion of Internal and Foreign trade E. Department for Policy of Internal and Foreign trade

Answer: Option B
Explanation: Renewed Focus on Internal trade; Department of Industrial Policy and Promotions named to Department for the Promotion of Industries and Internal trade.
3. India is the fastest highway developer in the world, how many km of highways built each day?
    A. 27 kms B. 25 kms C. 23 kms D. 21 kms E. 20 kms

Answer: Option A
Explanation: India is the fastest highway developer in the world, 27 kms of highways built each day
4. ESI cover limit increased to how much amount?
    A. 17000 B. 19000 C. 21000 D. 25000 E. 30000

Answer: Option C
Explanation: ESI cover limit amount increased to 21,000
5. Minimum pension amount increased to how much amount?
    A. 5000 B. 4000 C. 3000 D. 2000 E. 1000

Answer: Option E
Explanation: Minimum pension amount increased to 1000
6. An indigenously developed semi high-speed train, which announced recently?
    A. Vande Bharat Express B. Vande Bhakya Express C. Varun Bharat Express D. Vande Bhadri Express E. Vande Bhartiya Express

Answer: Option A
Explanation: Vande Bharat Express, an indigenously developed semi high-speed train, to be launched
7. Reserve Bank of India removed three banks from prompt corrective action, which of the following bank is not one of that?
    A. UCO Bank B. Dena Bank C. Oriental Bank of Commerce D. Both A and B E. Both A and C

Answer: Option D
Explanation: Bank of India, Bank of Maharashtra and Oriental Bank of Commerce more under RBI's prompt corrective action.
8. How many villages have been declared "Open Defecation Free”?
    A. 5.45 lakh B. 4.75 lakh C. 3.25 lakh D. 2.25 lakh E. None of these

Answer: Option A
Explanation: 5.45 lakh villages have been declared "Open Defecation Free”.
9. India has achieved how much percent rural sanitation coverage?
    A. 90% B. 95% C. 98% D. 99% E. None of these

Answer: Option C
Explanation: India has achieved 98% rural sanitation coverage
10. Financial support for pregnant women under which scheme?
    A. PradhanMantriKaushalVikasYojna B. Pradhan Mantri Mahila Shakti Kendra C. Pradhan Mantri Adarsh Gram Yojana D. Pradhan Mantri Matru Vandana E. None of these

Answer: Option D
Explanation: Financial support for pregnant women under Pradhan Mantri Matru Vandana
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