Important GK Questions Based On Union Budget 2020 | Set- 7
Union Budget 2020-21 – Important GK Questions With Answers
Union and Railway Budget 2020-21 MCQ and Quizzes for Bank, SSC, and Railway Exams. Download PDF of Important GK Questions based on Union Budget 2020. Expected GK Questions From Union and Railway Budget 2020. As we all know that Finance Minister Ms Nirmala Sitharaman presented the Union Budget 2020-21 in parliament on 01st February 2020. This is her first full time budget presentation.If you are preparing for Banking & Insurance, SSC, Railways and other competitive exams, you will come across a section on the Current Affairs and Questions asked in every competitive exams in General Awareness section from Union Budget 2020-21 So, here we are with the Important Union and Railway Budget Questions with Answers for your daily practice.
To help you in your upcoming exam preparation we have brought you 100+ Most Expected GK Questions From Union Budget 2020. Union and Railway Budget Questions with Answers For Bank Exams are very important for the upcoming competitive exams and knowing all the Union and Railway Budget Questions with Answers For Bank Exams is a must, as it will help you in scoring good marks in General Awareness section of any examination.
Union and Railway Budget Questions with Answers | Set- 7
Although the number of questions related to Union Budget 2020-21 asked in the exams are relatively less but it is advisable that every aspirant should be aware Union and Railway Budget Questions with Answers.
1. How much fund is allocated for National Textile Mission in Budget 2020-21?
1,550 crore
1,480 crore
1,250 crore
1,590 crore
2,180 crore
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Correct Answer – B. 1,480 crore
Explanation: Finance Minister Nirmala Sitharaman on Saturday proposed National Technical Textile Mission with an outlay of Rs 1,480 crore over four years to cut down imports.
2. In the Budget 2020-21, five archaeological sites to be developed at iconic sites with on-site museum. Which one of the following is not among them?
Dholavira, Gujarat
Sivasagar, Assam
Rakhigarhi, Haryana
Khajuraho, Madhya Pradesh
None of these
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Correct Answer – D. Khajuraho, Madhya Pradesh
Explanation: Budget 2020 by Finance Minister Nirmala Sitharaman has placed unprecedented importance on cultural development. To facilitate tourism and cultural development, one of the policies announced is to turn five archaeological sites – Rakhigarhi, Hastinapur, Sivasagar, Dholavira, and Adichanallur – into premier destinations with on-site museums.
3. How much fund is allocated for Cultural Ministry In the Budget 2020-21?
3,150 crore
2,725 crore
3,725 crore
4,225 crore
None of these
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Correct Answer – A. 3,150 crore
Explanation: Finance Minister Nirmala Sitharaman proposed the setting up of an Indian Institute of Heritage and Conservation with the status of a deemed university under the Ministry of Culture. Presenting the Budget for 2020-21, Sitharaman said Rs 3,150 crore has been allocated for the Ministry of Culture and Rs 2,500 crore for the Ministry of Tourism.
4. As per Budget 2020-21, How much fund is allocated for the health care sector?
75,000 crore
63,350 crore
69,000 crore
58,000 crore
None of these
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Correct Answer – C. 69,000 crore
Explanation: Finance minister Nirmala Sitharaman proposed viability gap funding of hospitals under the government’s Ayushman Bharat insurance scheme in districts that do not have enough healthcare facilities. The initiative accompanied an allocation of Rs 69,000 crore for the healthcare sector in 2020-21–this is up from the Rs 63,000 crore allocated for 2019-20 but less than the Rs 1 lakh crore that the sector was seeking.
5. How much fund is allocated for National Mission on Quantum Computing and Technology in Budget 2020-21?
8,000 crore
9,500 crore
12,500 crore
7,900 crore
None of these
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Correct Answer – A. 8,000 crore
Explanation: The government on Saturday announced ₹8,000 crore outlay for developing quantum computing linked technologies under the National Mission on Quantum technologies and Applications. It is proposed to provide an outlay of ₹8,000 crore over a period of five years for the National Mission on Quantum technologies and applications,” Finance Minister Nirmala Sitharaman announced.
6. According to Budget 2020-21, what is the fiscal deficit target for FY21?
3.8% of GDP
3.5% of GDP
3.0% of GDP
3.2% of GDP
None of these
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Correct Answer – B. 3.5% of GDP
Explanation: The government on Saturday raised fiscal deficit target to 3.8 per cent of the GDP from 3.3 per cent pegged earlier for 2019-20 due to revenue shortage.”We estimate a fiscal deficit of 3.8 per cent in RE (revised estimate) 2019-20 and 3.5 per cent for BE (budget estimate) 2020-21. This estimation is consistent with Government’s abiding commitment to macroeconomic stability,” Finance Minister Nirmala Sitharaman said while presenting Budget 2020-21.
7. Who presented the first Union Budget of Independent India?
T.T. Krishnamachari
C.D. Deshmukh
R.K. Shanmukham Chetty
Morarji Desai
None of these
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Correct Answer – C. R.K. Shanmukham Chetty
Explanation: The first Union Budget of Independent India was presented by RK Shanmukham Chetty on November 26, 1947. It was a review of the economy and no new taxes were proposed.
8. How much fund is allocated for skill development?
4,000 crore
3,000 crore
5,000 crore
3,200 crore
None of these
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Correct Answer – B. 3,000 crore
Explanation: For the skill development ministry and its various programmes, an allocation of Rs 3,002.21 crore has been proposed for FY21 compared to Rs 2,531.04 crore in FY20.
9. How much fund is allocated for welfare and development of schedule class and other backward classes?
60,000 crore
85,000 crore
75,000 crore
80,000 crore
None of these
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Correct Answer – B. 85,000 crore
Explanation: Harping on the theme of Caring Society, the Finance Minister said that Rs 35,600 crore proposed for nutrition-related programmes for the financial year 2020-21. Rs 28,600 crore proposed for programs that are specific to women. Moreover, Rs 85000 crore would be allocated towards the welfare of Scheduled Castes and Other Backward classes for 2020-21. Similarly, for furthering development and welfare of Scheduled tribes, Rs 53,700 crore is proposed for 2020-21. She said, the government is mindful of the concerns of senior citizens and Divyang. Accordingly, an enhanced allocation of Rs 9,500 crore is being provided for 2020-21.
10. How much fund is allocated for Bharat net program in Budget 2020-21?
5,500 crore
6,000 crore
7,500 crore
4,500 crore
None of these
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Correct Answer – B. 6,000 crore
Explanation: The government on Saturday said Rs 6,000 crore will be allocated for the BharatNet programme in 2020-21 to further enhance broadband connectivity in rural areas.
