Expected GK Questions from Union Budget 2020: Dear EP ‘ians, Indian Finance Ministry has announced the Union Budget for the fiscal year 2020 which was most important GK topic for all competitive exams. Already we have given the Highlights of Union Budget 2020, now we have given the List of Important Expected GK Questions from Union Budget 2020. Candidates those who were preparing for the upcoming mains examination can use this.
Expected GK Questions from Union Budget 2020
1). What is the theme of Budget 2020?
Ans: Aspirational India, economic development (for all) and building a caring society that is humane and compassionate
2). How much funds is allocated for the Education Sector?
Ans: Rs 99,300 crore for the educational sector in FY21
3). How much amount is provided for the promotion of Commerce and Industry?
Ans: Rs 27300 crore
4). By which year Milk Processing Capacity to be doubled?
Ans: 2025
5). When will the Income of Farmers be expected to get doubled?
Ans: 2022
6). Which scheme has been launched to end TB by 2025 in the country?
Ans: TB Harega, Desh Jeetega
7). How many higher education institutes will have apprenticeship programs by March 2021?
Ans: 150
8). How much does Insurance Cover for bank deposits will be increased from Rs1 lakh?
Ans: 5 lakh
9). For faster claims settlement of Exporters, Which Scheme has been launched?
Ans: Nirvik
10). By which year does India Monetize over 6000km of highways in 12lots?
Ans: 2024
11). How much amount to be invested in infrastructure over 5 years?
Ans: Rs 100 lakh crore
12). What scheme is to be launched to clarify roles of the Union Government, State Governments and key regulators?
Ans: National Logistics Policy
13). How much amount is Proposed for transport infrastructure in 2020-21?
Ans: Rs1.7 lakh crore
14). How much percentage is the Fiscal deficit target of the GDP?
Ans: 3.8% from 3.3%
15). How much fund is allocated for the welfare of senior citizens?
Ans: Rs 9000 crore
16). How much fund is allocated for the uplift of Scheduled Tribes and Scheduled castes and OBC?
Ans: Rs 53700 crore and Rs85000 crore respectively
17). How much amount is allocated for the healthcare sector?
Ans: Rs 69000 crore
18). How much does Ayushman Bharat scheme provide for health assurance cover?
Ans: Rs 5 lakh
19). For how much audit threshold for MSME raised to?
Ans: Rs 5 crore from 1 crore
20). What is the new income tax slabs?
Ans:
- 0 – 2.5 lakh – exempted
- ₹2.5 lakh – ₹5 lakh – 5%
- ₹5 lakh – ₹7.5 lakh – 10% (20% earlier)
- ₹7.5 lakh – ₹10 lakh – 15% (20% earlier)
- ₹10 lakh to ₹12.5 lakh – 20% (30% earlier)
- ₹12.5 lakh – ₹15 lakh – 25% (30% earlier)
- No change in tax rates above ₹15 lakh
21). What will be the income tax rate for income between Rs12.5 lakh to 15 lakh?
Ans: 25%
22). How much percentage of income tax to the individuals for income between Rs5- Rs7.5 lakh?
Ans: 10%
23). How much fund is proposed for the development of industry and commerce?
Ans: Rs 27300 crore
24). How much amount is proposed by the government for skill India?
Ans: Rs 3000 crore
25). Which bank’s stake is sold to Private Investors?
Ans: IDBI Bank
26). How much amount is allocated for Bharat Net Programme?
Ans: Rs 6000 crore
27). How much fund is Proposed for Swachh Bharat Mission?
Ans: Rs 12300 crore
28). How much is allocated for National Mission on Quantum Technology?
Ans: Rs 8000 crore
29). For which project government launches Rs18600 crore?
Ans: Bengaluru Suburban Transportation Project
30). By which year Delhi Mumbai expressways and 2 other corridors will be completed?
Ans: 2023
31). How much does the government has pegged the agricultural credit target for fiscal 2020-21?
Ans: Rs 15 lakh
32). What is launched in public-private partnership (PPP) mode for the cold supply chain to transport perishable goods?
Ans: Kisan Rail
33). By which year India will have the largest working-age population in the world?
Ans: 2030
34). What is the name of the scheme launched by the Civil Aviation Ministry for agricultural loans?
Ans: Krishi Udaan
35). Which scheme is expanded by the government to 20 lakh farmers to set up solar pumps?
Ans: PM Kusum Scheme
36). What is the aim of this budget 2020?
Ans: to address the hopes and aspirations of all the sectors
37). How many airports will be developed under UDAN by 2024?
Ans: 100
38). How much capital amount has been infused in PSU banks?
Ans: Rs 3.5 lakh crore
39). For how many percentages does the FPI limit in corporate bonds has been raised from 9%?
Ans: 15%
40). The government has decided to raise capital in LIC through which method?
Ans: Initial Public Offering
41). What is the estimated total expenditure of FY21?
Ans: Rs 30.42 lakh crore
42). Which document will be issued instantly based on Aadhar details?
Ans: PAN card
43). Name the exam which will be conducted in Asia and Africa under the Study in India Programme?
Ans: Ind- SAT
44). How many projects will come under the National Infrastructure Pipeline?
Ans: 6500 projects
45). How much has been allocated to Jal Jeevan Mission?
Ans: Rs 3.6 lakh crore
46). Which Scheme has been launched for women self -help group in the Budget?
Ans: Dhanya Laxmi Scheme
47). How many consumers have got benefitted by GST?
Ans: 1 lakh crore
48). How many taxpayers have been added to GST?
Ans: 6 million
49). How much percentage an average household now saves because of GST implementation?
Ans: 4%
50). How many Aspirational Districts will be covered for AYUSHMAAN Treatment?
Ans: 112
51). Name the independent body which will set up for the recruitment to non gazetted posts through the computer-based online process?
Ans: National Recruitment Agency
52). Which tax is abolished?
Ans: Dividend Distribution Tax
53). How much percentage is the gross enrollment of girls in elementary levels?
Ans: 94.32%
54). Which Methodology is for better marketing and export of horticulture products?
Ans: One District One Product
55). By which year farmers income will be doubled?
Ans: 2022
56). Where does the tribal museum is going to set up?
Ans: Ranchi, Jharkhand
57). What is in place to monitor health of all scheduled banks?
Ans: Robust Mechanism
58). Where does International Bullion exchange to be setup?
Ans: GIFT IFSC
59). What is Vivad se Vishwas Scheme ?
Ans: New direct tax dispute settlement scheme
60). How much is FDI elevated during 2014-2019?
Ans: $284billion
61). What is the Eligibility limit for NBFCs for Debt recovery under SARFAESI Act proposed to be reduced to asset size?
Ans: Rs 100 crore or loan size of Rs50 lakh
62). By which year will be Expansion of Jan Ausadhi Kendra scheme to all districts complete?
Ans: 2024
63). How much amount is announced for National Infrastructure pipeline projects?
Ans: Rs 103 lakh crore
64). How much amount is allotted for the construction of new lines?
Ans: Rs 12,000 crore
65). How much fund is allocated for signaling and telecom?
Ans: Rs 1650 crore
66). How much amount is allocated for Railway Sector?
Ans: Rs 70000 crore
67). What is build to encourage the private sector throughout the country?
Ans: Data Centre parks
68). How much percentage is raised for Customs duty on auto and auto parts?
Ans: 10%
69). How much amount is to be invested for infrastructure over the next 5 years?
Ans: Rs 100 lakh crore
70). How much amount is allotted for Ayushman Bharat Yojana from the Health sector?
Ans: Rs 69000 crore
71). How many percentages of Concessional withholding tax extended to Municipal Bonds?
Ans: 5%
72). How many percentage tax exemption on Sovereign Wealth Funds Indra Investment?
Ans: 100%
73). How much funds are allocated for clean air initiative?
Ans: Rs 4400 crore
74). From when does India’s commitment towards tackling climate change made at the Paris conference kick starts?
Ans: January 1, 2021.
75). What is the purpose of Krishi Udaan?
Ans: to transport agri-products to national as well as international destinations
76). Which scheme should be strengthened on Agriculture?
Ans: NABARD Refinance
77). From when does the Simpler GST filing system come into existence?
Ans: April 2020
78). How does Finance Minister presented her Second budget?
Ans: carried documents in a ‘Bahi-Khata’ wrapped in a red cloth.
79). How did FM Presented her First budget?
Ans: the tradition of carrying budget documents in a leather briefcase.
80). Where does the Maritime museum coming up?
Ans: Lothal, Gujarat
