Union Budget 2018 Questions Set 2

2018 Union Budget Quiz Set 2

We have come up with important Quiz Questions based on the Union Budget 2018-19 that are expected in the upcoming examinations.

MCQs based on Union Budget 2018-19Click Here to Read the Highlights of Union Budget 2018-19

  1. What is the estimated GDP growth of India for the fiscal 2018-19 according to the latest prediction by IMF?
    7.1%
    7.3%
    7.5%
    7.4%
    7.2%
    Option D
    International Monetary Fund (IMF), in its latest update, has forecasted that India will grow at 7.4% next year.

     

  2. According to the Union Budget 2018, how many more toilets have been proposed to be constructed as a part of the Swachh Bharat Mission?
    1 crore
    2 crore
    3 crore
    4 crore
    5 crore
    Option B
    Around 2 crore more toilets to be constructed under Swachh Bharat Mission.

     

  3. How much amount has been allocated to the Ministry of Food Processing in the Union Budget 2018?
    Rs 200 crore
    Rs 500 crore
    Rs 1000 crore
    Rs 1400 crore
    Rs 1600 crore
    Option D
    Allocation for Ministry of Food Processing doubled from Rs 715 crore in RE 2017-18 to Rs 1400 crore in BE 2018-19.

     

  4. Which among the given statements are incorrect as per the Budget 2018-19?
    Dedicated Affordable Housing Fund (AHF) to be established in National Housing Bank (NHB)
    Central Board of Excise and Customs [CBEC] to be renamed as Central Board of Indirect Taxes and Customs (CBIC)
    TERI to initiate a national program in the area of Artificial Intelligence(AI)
    Department of Telecom will establish indigenous 5G Test Bed at IIT, Chennai
    Pradhan Mantri Vaya Vandana Yojana will be extended up to March, 2020
    Option C
    NITI Aayog to initiate a national program in the area of Artificial Intelligence(AI); Centres of excellence to be set up on robotics, AI, Internet of things etc.

     

  5. What is the amount of revised emolument of the President of India as stated in the Budget 2018?
    Rs 4 lakh
    Rs 5 lakh
    Rs 3.5 lakh
    Rs 2 lakh
    Rs 5.5 lakh
    Option B
    Emoluments of the President revised to Rs 5 lakh; Vice President to Rs 4 lakh; and Governors to Rs 3.5 lakh per month.

     

  6. How much amount has been earmarked for the year 2018-19 for commemorating the150th birth anniversary of Mahatma Gandhi?
    Rs 150 crore
    Rs 100 crore
    Rs 200 crore
    Rs 50 crore
    Rs 250 crore
    Option A
    Commemorate 150th birth anniversary of Mahatma Gandhi, Father of the Nation, from 2nd October, 2019 to 2nd October 2020. Rs 150 crore earmarked for the year 2018-19 for the activities leading to the Commemoration.

     

  7. As per the Union Budget 2018-19, the growth in direct tax as recorded up to January 15, 2018, stood at _____ percent
    10.1%
    12.3%
    15.5%
    18.7%
    16.9%
    Option D
    Growth in direct taxes up to 15th January, 2018 is 18.7%.

     

  8. The Tax on Long Term Capital Gains exceeding Rs 1 lakh has been proposed at the rate of _____ percent
    5%
    15%
    10%
    2%
    12%
    Option C
    Tax on Long Term Capital Gains exceeding Rs 1 lakh proposed at the rate of 10%. However, all gains up to 31st January, 2018 will be exempted from tax.

     

  9. How many Central Public Sector Enterprises (CPSEs) have been approved to be listed on the stock exchange according to the Union Budget 2018?
    14
    15
    10
    11
    5
    Option A
    Approved listing of 14 Central Public Sector Enterprises (CPSEs), including two insurance companies, on the stock exchanges.

     

  10. How much amount has been allocated for setting up 5 lakh wi-fi hotspots in rural area?
    Rs 3,000 crore
    Rs 20,000 crore
    Rs 5,000 crore
    Rs 15,000 crore
    Rs 10,000 crore
    Option E
    Rs 10,000 crore allocated to set up 5 lakh wi-fi hotspots to provide broadband access to five crore rural citizens.

     

  11. How much amount has been allocated for the development of rail network in Mumbai in the Budget 2018?
    Rs 40,000 crore
    Rs 51,000 crore
    Rs 49,000 crore
    Rs 55,000 crore
    Rs 62,000 crore
    Option B
    Rs 51,000 crore allocated to add 90 kilometers of double line tracks and 150 km additional suburban network in Mumbai .

     

  12. What is the estimated cost of the Bharatmala Pariyojana to be launched by the government?
    Rs 5,35,000 crore
    Rs 5,30,000 crore
    Rs 5,25,000 crore
    Rs 5,20,000 crore
    Rs 5,40,000 crore
    Option A
    Ambitious Bharatmala Pariyojana to be launched at an estimated cost of Rs 5,35,000 crore; develop about 35000 kms in Phase-I to provide seamless connectivity of interior and backward areas and borders of the country.

     

  13. What percent of wages of new employees would be contributed by the government in the EPF for all sectors in the next 3 years?
    25%
    20%
    15%
    12%
    10%
    Option D
    Government to contribute 12% of the wages of the new employees in the EPF for all the sectors for next 3 years

     

  14. As per the Union Budget 2018-19, all railway stations with more than ________ footfalls will have ascalators
    10000
    15000
    25000
    20000
    5000
    Option C
    All stations with more than 25000 footfalls will have escalators.

     

  15. How much amount has been allocated for the Scheduled Castes (SCs) for 2018-19?
    Rs 55,520 crore
    Rs 56,619 crore
    Rs 57,718 crore
    Rs 58,817 crore
    Rs 59,916 crore
    Option B
    Allocation for Scheduled Castes (SCs)- Rs 56,619 crore in BE 2018-19.

     

  16. How many new full-fledged Schools of Planning and Architecture (SPA) has been announced to be set up as per the Budget 2018?
    2
    3
    4
    5
    1
    Option A
    Set up two new full-fledged Schools of Planning and Architecture (SPA) selected on challenge mode.

     

  17. What is the estimated budgetary expenditure on health, education and social protection for the fiscal 2018-19?
    Rs 1.22 lakh crore
    Rs 1.40 lakh crore
    Rs 1.38 lakh crore
    Rs 1.10 lakh crore
    Rs 1.35 lakh crore
    Option C
    Government’s estimated schematic budgetary expenditure on health, education and social protection for 2018-19 is Rs 1.38 lakh crore.

     

  18. How much amount has been allocated to the Ground water irrigation scheme under Prime Minister Krishi Sinchai Yojna?
    Rs 2200 crore
    Rs 2400 crore
    Rs 2500 crore
    Rs 2600 crore
    Rs 2800 crore
    Option D
    Ground water irrigation scheme under Prime Minister Krishi Sinchai Yojna-Har Khet ko Pani allocated Rs 2600 crore.

     

  19. Which among the given Public Sector Insurance companies will be merged to form a single entity as stated in the Budget 2018?
    I. National Insurance Co. Ltd.
    II. United India Assurance Co. Ltd.
    III. Agriculture Insurance Company of India Ltd.
    IV. Oriental India insurance Co. Ltd.

    Only I & II
    Only I, II & IV
    Only II & III
    Only II, III & IV
    All the Above
    Option B
    Three Public Sector Insurance companies- National Insurance Co. Ltd., United India Assurance Co. Ltd., and Oriental India insurance Co. Ltd. to be merged into a single entity, and subsequently listed in the stock exchange, as part of the disinvestment programme.

     

  20. As per the Union Budget 2018-19, any cash payment made above Rs _______ by trust or institution will be subjected to tax
    Rs 20,000
    Rs 10,000
    Rs 40,000
    Rs 50,000
    Rs 75,000
    Option B
    Payments exceeding Rs. 10,000 in cash made by trusts and institutions to be disallowed and would be subject to tax

     


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