50+ Most Expected Questions from Union Budget 2020-21
2020-02-11 | Team PendulumEdu
Union Budget is very important to study from exam point of view specially for the students preparing for government exams like UPSC CSE, State PCS, SSC CGL, SSC CHSL, IBPS SO, RRB NTPC, etc.
You can read Highlights of the Union Budget 2020-21 here.
Here, we are providing you 50+ most expected questions from the Union Budget 2020-21. You will definitely find one or two questions in your exams from this section. Therefore, prepare yourself with these questions so that you can easily score in the general awareness section.
1. Which of the following documents is not tabled in the Parliament as part of the Budget?
- Annual Financial Statement
- Finance Bill
- Macroeconomic framework Statement
- Statement on monetary policy
2. Who among the following presented the first budget in India?
- William Hawks
- James Wilson
- Lord Palmerston
- John Parkinson
3. The first union budget of Independent India was announced on
- 18 August 1947
- 26 November 1947
- 4 March 1948
- 3 July 1948
4. Which finance minister of India has presented the Budget maximum number of times?
- Shanmukham Shetty
- Manmohan Singh
- Morarji Desai
- Pranab Mukherjee
5. The Railway budget was combined with General Budget in
6. The Railway Budget was separated from the General Budget in 1924 on the recommendations of which of the following committees?
- Hunter Committee
- Acworth Committee
- Muddiman Committee
- Hilton young Committee
7. Union Budget 2020-21 is the _______ budget of Independent India.
8. What is the duration of the longest budget speech in India?
- 2 hr
- 2 hr 17 min
- 2 hr 30 min
- 2 hr 42 min
9. Who among the following gave the longest budget speech in India?
- Manmohan Singh
- Arun Jaitley
- Jaswant Singh
- Nirmala Sitharaman
10. Which among the following is not one of the themes mentioned in the Budget 2020-21?
- Sustainable Development
- Aspirational India
- Economic Development
- Caring Society
11. Indian Railways has target of electrification of __________ kilometers of tracks.
12. Kisan Rail will be developed by Indian Railways to
- Provide mobility to the farmers
- Provide a national cold supply chain for perishables
- Acquire land for development of railway tracks
- Provide concession on the fare for farmers travelling to other cities
13. The budget proposes completion of 890km Dhubri-Sadiya section of ____________ by 2022.
- National Waterway-1
- National Waterway-5
- National Waterway-8
- National Waterway-2
14. The government will be developing 100 more airports to support Udan scheme by
15. The government proposed to expand the national gas grid to 27000 km. Currently, the national gas grid is spread over how many kms?
16. The beneficiaries of which of the following schemes will now be included under the KCC scheme?
- Pradhan Mantri Fasal Bima Yojana
- Pradhan Mantri Kisan Maandhan Yojana
- Pradhan Mantri Kisan Samaan Nidhi
- Pradhan Mantri Krishi Kalyan Yojana
17. Budget 2020-21 has fixed the target of doubling India’s milk processing capacity by
18. In recent Budget, the Finance Minister has announced to increase artificial insemination from the current 30% to
- 75 %
19. As per the budget 2020-21, mapping and geo-tagging of India’s agri-warehousing and cold storage facilities will be done by
- Warehouse Development and Regulatory Authority (WDRA)
- Central Warehousing Corporation (CWC)
- Ministry of Food Processing Industries(MOFPI)
20. In Budget 2020-21, the government has proposed to end Foot and Mouth Disease (FMD) and Brucellosis in cattle by
21. What is the government’s fish production target as per the latest Budget?
- 200 lakh tonnes fishes by 2022-23
- 200 lakh tonnes fishes by 2023-24
- 200 lakh tonnes fishes by 2024-25
- 200 lakh tonnes fishes by 2025-26
22. In Budget 2020-21, the government has announced that it will support states in the marketing and export of horticulture produce. India’s horticultural production currently stands at
- 311million MT
- 411million MT
- 511million MT
- 611million MT
23. How much money has been allocated to the Healthcare sector in Budget 2020-21?
- Rs. 25,000 crore
- Rs. 52,000 crore
- Rs. 69,000 crore
- Rs. 80,000 crore
24. In Budget 2020-21, the government has proposed to provide certain medicines in all districts of India under Jan Aushadhi Kendra Scheme by
25. Government’s allocation for skill development in Budget 2020-21 stands at
- 3,000 crore
- 6400 crore
- 99,300 crore
- 3 lakh crore
26. As per Budget 2020-21, number of days for an NRI to be considered as resident of India for the purpose of imposing tax will be lowered from current 182 or more days to
- 100 or more days
- 110 or more days
- 120 or more days
- 130 or more days
27. In Budget 2020-21, the government has advised RBI to extend loan restructuring scheme for MSMEs by
- 1 year
- 2 year
- 3 year
- 4 year
28. As per the government’s proposal in the latest Budget, NPS Trust will be separated from PFRDA. NPS Trust was set up in
29. How much concessional corporate tax rate has been proposed to new power producers in Budget 2020-21?
30. Budget 2020-21 allows Deposit Insurance and Credit Guarantee Corporation (DICGC) to increase deposit insurance limit from current Rs 1 lakh per person to
- Rs 3 lakh per person
- Rs 4 lakh per person
- Rs 5 lakh per person
- Rs 6 lakh per person
31. Which of the following sectors will be supported by the government on one product, one district basis?
- Manufacturing sector
- Horticulture sector
- Electronics sector
- Export sector
32. In Budget 2020-21, the government has proposed that the Ministry of Culture will establish Indian Institute of Heritage and Conservation with the status of
- Institute of Excellence
- Open University
- Global Institute
- Deemed University
33. How many iconic sites will be developed in India as per Budget 2020-21?
34. In the recent budget, the government has proposed to develop a Museum on Numismatics and Trade at
35. Which of the following is not included in the list of places proposed for the development of iconic sites as per Budget 2020-21?
36. Which of the following has not been proposed by the government as a measure to make tax administration effective?
- Amendment to Companies Act
- Launching of faceless appeal
- Launching of faceless assessment scheme
- Changes in scope of Dispute Resolution Panel (DRP)
37. How many new smart cities will be developed by the government as per the proposal in the recent Budget?
38. While presenting Budget 2020-21, Finance Minister has announced that Government will form National Technical Textiles Mission for implementation from 2020-21 to
39. As per Budget 2020-21, which of the following will not be provided by NIRVIK (Niryat Rin Vikas Yojana)?
- More insurance coverage
- Less premium to all exporters
- Simple claim settlement procedure
- More export credit
40. How many Gram Panchayats will be provided Fibre to the Home (FTTH) connections through Bharatnet in 2020-21 as per the government’s proposal in the latest Budget?
41. Which of the following mission has been allocated funds in budget 2020-21?
- National Biodiversity Mission (NBM)
- National Mission on Quantum Technologies and Applications (NM-QTA)
- National Mission on Cultural Mapping and Roadmap (NM-CMR)
- National Mission for Sustainable Agriculture
42. Which of the following is the new turnover limit of Startups for a 100 % deduction on profits as per Budget 2020-21?
- 25 crore
- 50 crore
- 75 crore
- 100 crore
43. As per Budget 2020-21, the government will sell its holding in
- IDBI Bank
- HDFC Bank
- Axis Bank
- IndusInd Bank
44. Which of the following will contribute a scheme for offering technical support to mid-size companies in pharmaceuticals, auto components and other sectors as per Budget 2020-2021?
- EXIM Bank
- Both A & B
45. What is the maximum FPI limit in corporate bonds as per Budget 2020-21?
46. In Budget 2020-21, the government has proposed that it will sell part of its holding in
- Life Insurance Corporation of India (LIC)
- Export Credit Guarantee Corporation of India (ECGC)
- General Insurance Corporation of India (GIC)
- Agriculture Insurance Company of India (AIC)
47. In Budget 2020-21, the government has targeted to keep fiscal deficit in 2020-21 at
48. Which of the following taxes has been abolished by the government in its recent Budget?
- Dividend Distribution Tax (DDT)
- Alternate Minimum Tax (AMT)
- Minimum Alternate Tax (MAT)
- Long-Term Capital Gains Tax (LTCG)
49. Vivad Se Vishwas scheme was announced by government in its latest Budget. The scheme will continue till
- 30th June 2020
- 30th June 2021
- 30th June 2022
- 30th June 2023
50. How much TDS will be levied by the government on e-commerce transactions?
- Both A & C
51. Which of the following is the proposed tax rate for income between 7.5 lakh to 10 lakh?
52. In Budget 2020-21, the government has not changed the income tax rate for income between
- 2.5-5 lakh
- 5-7.5 lakh
- 7.5-10 lakh
- 10- 12.5 lakh
53. How much health cess will be imposed by the government on import of medical equipment as per Budget 2020-21?
54. As per Budget 2020-21, the government has not proposed to increase duty on
55. In order to gain 100% tax concession as per the proposal in Budget 2020-21, the Sovereign Wealth Fund of foreign governments should have a lock-in period of
- 3 years
- 5 years
- 7 years
- 8 years
56. Which of the following is not a new organization that has been proposed to be set up in Budget 2020-21?
- National Police University
- National Forensic Science University
- National Recruitment Agency
- International Finance Services Centre
IBPS CLERK 2019 Notification Released for 12075 vacancies, Check Exam Dates, Exam Pattern and Other DetailsRead More