Expected GK Questions Based On Union Budget 2020 | Set- 7
Expected GK Questions Based On Union Budget 2020 | Set- 7

Union Budget 2020 Questions and Answers PDF

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 Union Budget 2020 Questions and Answers PDF for your daily practice.

To help you in your upcoming exam preparation we have brought you 100+ Union Budget 2020 Questions and Answers PDF. Union and Railway Budget Questions with Answers For Bank Exams are very important for the upcoming competitive exams and knowing all the Union Budget 2020 Questions and Answers PDF For Bank Exams is a must, as it will help you in scoring good marks in General Awareness section of any examination.

Union Budget 2020 Questions and Answers PDF | Set- 8

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. According to budget 2020-21, fibre to home connections through Bharat net will link how many panchayats this year?

  1. 95,000
  2. 1,50,000
  3. 2,00,000
  4. 1,00,000
  5. None of these

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Correct Answer – D. 1,00,000

Explanation: All public institutions at the gram panchayat level such as anganwadis, health and wellness centres, government schools, PDS outlets, post offices and police stations — all will be provided digital connectivity. The fibre to the home (FTTH) connection through BharatNet will link 100,000 gram panchayats this year.

2. As per  the Budget 2020, India is set to become $5 trillion economy by the end of?

  1. 2024
  2. 2025
  3. 2022
  4. 2028
  5. None of these

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Correct Answer – A. 2024

Explanation: As per the report, the 16% realisation of the automation potential can contribute $365 billion to India’s efforts in becoming a $5 trillion economy. “As per EY’s analysis, a conservative 5% realisation would grow India’s GDP to $4.75 trillion, while the more ambitious 40% realisation would grow it to $5.6 trillion by 2024-25,”.

3. According to Budget 2020-21, how much is the agriculture credit target?

  1. 20 lakh crore
  2. 18 lakh crore
  3. 15 lakh crore
  4. 12 lakh crore
  5. None of these

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Correct Answer – C. 15 lakh crore

Explanation: The government has pegged the agricultural credit target at Rs 15 lakh crore for fiscal 2020-21. “Non-banking finance companies and cooperatives are active in the agriculture credit space. The National Bank for Agriculture and Rural Development refinance scheme will be expanded,” Finance Minister Nirmala Sitharman said in her Union Budget speech. “Agriculture credit availability target for the year 2020-21 has been set at Rs 15 lakh crore.”

4. Who among the following was the first female presented budget in the parliament?

  1. Sarojini Naidu
  2. Indira Gandhi
  3. Sucheta Kriplani
  4. Amrit Kaur
  5. None of these

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Correct Answer – B. Indira Gandhi

Explanation: Former Prime Minister Indira Gandhi was the first and only woman till now to have presented the Union Budget. In 1970, she presented the Union Budget of India for 1970-71, after she took over the finance portfolio following the resignation of Morarji Desai as finance minister. Finance Minister Nirmala Sitharaman became only the second woman in the history of independent India to present the Union Budget.

5. Who presented the Budget the maximum number of times?

  1. T.T. Krishnamachari
  2. Yashwant Sinha
  3. Morarji Desai
  4. C.D. Deshmukh
  5. None of these
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Correct Answer – C. Morarji Desai

Explanation: As of September 2017, Morarji Desai has presented 10 budgets which is the highest count followed by P Chidambaram’s 9 and Pranab Mukherjee’s 8. Yashwant Sinha, Yashwantrao Chavan and C.D. Deshmukh have presented 7 budgets each while Manmohan Singh and T.T. Krishnamachari have presented 6 budgets.

6. The government proposed to expand the national gas grid from present 16,200 km to …………..?

  1. 36,000 km
  2. 27,000 km
  3. 25,000 km
  4. 17,000 km
  5. None of these

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Correct Answer – B. 27,000 km

Explanation: Finance Minister Nirmala Sitharaman on Saturday laid down plans for expansion of national natural gas pipeline network to 27,000 km from the present 16,200 km and pricing reforms as the government looks at boosting use of environment friendly fuel.

7. Government energy meters to be replaced by prepaid ‘smart meters’ In the next how many years-

  1. 5
  2. 6
  3. 3
  4. 2
  5. 1

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Correct Answer – C. 3

Explanation: The union budget, the union finance minister Nirmala Sitharaman has proposed a 22,000 crore outlay to achieve the goal of 24X7 electricity for all. Also she urged all the states and UTs to replace the conventional electricity meters into prepaid smart meters in next three years so as to provide consumers a choice of service providers and rate of electricity.

8. According to budget, the use of which type of energy to be promoted in the farming sector?

  1. Solar energy
  2. Chemical energy
  3. Light energy
  4. Heat energy
  5. None of these

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Correct Answer – A. Solar energy

Explanation: The budget 2020-’21 speech announced the expansion of the government’s Kisan Urja Suraksha Evam Utthaan Mahabhiyan, or KUSUM, scheme to enable about two million new farmers to install standalone solar pumps. Further, 1.5 million farmers will be provided funds to install solar pumps connected to the electricity grid, to which they could sell surplus energy. For the year of 2020-’21, the KUSUM scheme has been allocated Rs 300 crore for grid-interactive solar and about Rs 700 crore for off-grid projects.

9. According to Budget 2020-21, people between what income will pay taxes of 25%?

  1. 12.5 lakh to 15 lakh
  2. 10 lakh to 15 lakh
  3. 12 lakh to 15 lakh
  4. 11 lakh to 14.5 lakh
  5. None of these

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Correct Answer – A. 12.5 lakh to 15 lakh

Explanation: Union Budget 2020 has proposed a new tax structure by slashing income tax rates and rejigging the income tax slabs to reduce total tax liability by individuals. As proposed in the new tax regime, 70 tax exemptions will be removed but the income between Rs 5 lakh and Rs 7.5 lakh will be taxed at 10% down from current 20%, income between Rs 7.5 lakh and Rs 10 lakh will be taxed at 15% down from current 20%, and income between Rs 10 lakh and Rs 12.5 lakh will be taxed at 20% down from current 30%. Income between Rs 12.5 lakh and Rs 15 lakh will be taxed at 25% down from current 30%. Incomes above Rs 15 lakh in a financial year will continue to be taxed at 30%. Tax slabs under new, optional regime-

Total income (Rs) Simplified, optional tax rate
Up to Rs 2.5 lakh Nil
From 2,50,001 to 5,00,000 5%
Rs 5,00,001 to 7,50,001 10%
Rs 7,50,0001 to 10,00,000 15%
Rs 10,00,001 to 12,50,000 20%
Rs 12, 50,001 to 15,00,000 25%
Above Rs 15,00,000 30%

Cess and surcharge on income tax payable in the new proposed personal tax regime remain the same as in the existing tax regime.

10. By which year Delhi Mumbai expressways and two other corridors will be completed?

  1. 2021
  2. 2023
  3. 2025
  4. 2024
  5. None of these

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Correct Answer – B. 2023

Explanation: “Accelerated development of highways will be undertaken. This will include development of 2,500 km access-controlled highways, 9,000 km of economic corridor, 2,000 km of coastal and land-port roads and 2,000 km of strategic highways,”. The Delhi-Mumbai expressway would be completed by 2023 FM Sitharaman said during the budget speech.

100+ Expected GK Questions Based on Budget 2020

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Set – 10 100+ Expected GK Questions PDF Based on Budget 2020 – Will Update Soon….

Union Budget 2020-21 – Important Links

Union Budget 2020 – Download Budget 2020 PDF
केन्द्रीय बजट 2020 की मुख्य विशेषताएँ 100 Important Highlights of Budget 2020
Union Budget 2020 Live Updates from Parliament House Key Highlights of Economic Survey 2019-20 : Download Volume I and II PDF and Info-graphics

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