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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