Union Budget 2017-18 Q & A PDF by AffairsCloud

Union Budget 2017-18 Q & A PDF
Union budget 2017-18 Questions & Answers
1.As per the Union Budget 2017-18, the total corpus of the Long Term Irrigation Fund in
NABARD has been increased to?
A.Rs.20,000 Crore
B.Rs.10,000 Crore
C.Rs.40,000 Crore
D.Rs.25,000 Crore
Answer: C.Rs. 40,000 Crore
Explanation:
Allocation for Long Term Irrigation Fund in NABARD increased from Rs. 20000 crore in 2016-17 to
Rs. 40000 crore in 2017-18.
2.How much amount of agricultural credit to farmers has been proposed in the Union
Budget 2017-18?
A.Rs. 15 lakh crore
B.Rs. 12 lakh crore
C.Rs. 20 lakh crore
D.Rs. 10 lakh crore
Answer: D.Rs. 10 lakh crore
Explanation:
The target for agricultural credit in 2017-18 has been fixed at a record level of Rs 10 lakh crore as
part of the government’s efforts to double farm incomes in the next five years.
3.The Minimum Alternate Tax (MAT) credit has been carried forward from the current
10 years to how many years in the Budget Estimates in 2017-18?
A.15 Years
B.20 Years
C.17 Years
D.12 Years
Answer: A.15 Years
Explanation:
Minimum Alternate Tax (MAT) has been proposed to be carry forward for 15 years instead of 10
years in the Union Budget 2017-18.
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4.How much amount has been allocation for Women and Children welfare under various
schemes across all Ministries in the Union Budget 2017-18?
A.Rs. 1,87,650 crores
B.Rs. 1,75,310 crores
C.Rs. 1,84,632 crores
D.Rs. 1,09,625 crores
Answer: Rs. 1,84,632 crores
Explanation:
Funds for the welfare of women and children under various schemes across all ministries would be
increased from Rs. 1, 56, 528 crores (2016-17) to Rs. 1, 84, 632 crores (2017-18).
5.As mentioned in the Union Budget 2017-18, the Indian Railways coaches would be
completely fitted with bio-toilets by which year?
A.2020
B.2018
C.2022
D.2019
Answer: D.2019
Explanation:
As per the Union Budget 2017-18, Indian Railways coaches will be fitted with bio-toilets by 2019.
6.What is the expected growth rate of agricultural sector for the last quarter of the
fiscal year 2016-17 ending March 2017?
A.4.1 Percent
B.4.5 Percent
C.3.6 Percent
D.3.2 Percent
Answer: A.4.1 Percent
Explanation:
As per the Budget data, the agriculture sector is expected to grow at 4.1% in the current fiscal
with a better monsoon.
7.As per the Union Budget 2017, what is the maximum cash donation that a political
party can receive from one a source?
A.Rs. 2000
B.Rs. 3500
C.Rs. 4200
D.Rs. 5000
Answer: A.Rs. 2000
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Explanation:
Maximum amount that a political party can receive from a source in cash is Rs 2,000, which is a
sharp drop from the earlier limit of Rs 20,000.
8.Consider the following statements and based on the Budget Estimates 2017 identify
which among the given points are correct?
i.Foreign Investment Promotion Board will be abolished in 2017-18
ii.Second phase of Solar Park development will be taken up for additional 20,000 MW capacity.
iii.A Computer Emergency Response Team for Financial Sector (CERT-Fin) will be established
A.Only i & ii
B.Only ii & iii
C.Only i & iii
D.All Are Correct
Answer: D.All Are Correct
Explanation:
As per the Union Budget 2017-18, Foreign Investment Promotion Board will be abolished in 2017-
18, Second phase of Solar Park development will be taken up for additional 20,000 MW capacity
as well as a Computer Emergency Response Team for Financial Sector (CERT-Fin) will be
established.
9.What is the name of the single window interface, to be launched by the Union
government to register all coach related complaints and requirements
A.Coach For All
B.Coach Mitra
C.Best Coach
D.My Coach
Answer: B.Coach Mitra
Explanation:
Government has proposed to launch a facility named Coach Mitra to register all coach related
complaints and requirements.
10.According to the Union Budget 2017-18, what is the total allocation made under
Pradhan Mantri Mudra Yojana?
A.Rs. 2.44 Lakh crore
B.Rs. 1.20 Lakh crore
C.Rs. 2.50 Lakh crore
D.Rs. 1.75 Lakh crore
Answer: A.Rs. 2.44 Lakh crore
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Explanation: The allocation under the Pradhan Mantri Mudra Yojana has been doubled for the
2017-18 fiscal from Rs 1,22,000 crore in 2016-17. Rs 2.44 lakh crores has been allocated for the
scheme for 2017-18.
11.According to the Union Budget 2017-18, NABARD will computerize and integrate
___________ Primary Agriculture Credit Societies with the Core Banking System of
District Central Cooperative Banks to ensure flow of credit to small farmers.
A.60,000
B.61,750
C.63,000
D.62,500
Answer: C.63,000
Explanation:
NABARD will computerize all the 63,000 functional Primary Agriculture Credit Societies (PACS)
with the Core Banking System of District Central Cooperative Banks to ensure flow of credit to
small farmers.
12.What is the total allocation made for rural, agriculture and allied sectors as per the
Union Budget 2017-18?
A.Rs. 188,111 crores
B.Rs. 184,222 crores
C.Rs. 185,551 crores
D.Rs. 187223 crores
Answer: D.Rs. 187223 crores
Explanation:
The total allocation for rural, agricultural and allied sectors for 2017-18 is a record Rs 1,87,223
crore which 24% from what was allocated last year.
13.As proposed in the Budget 2017, the total amount allocated to the BharatNet Project
for digitally connected India is_______
A.Rs.12,000
B.Rs.15,000
C.Rs.10,000
D.Rs.17,000
Answer: C.Rs. 10,000 crores
Explanation:
The allocation for the ambitious Bharat Net project is being stepped up to Rs 10,000 crore in
2017-18 and high-speed broadband on optical fibre will be available in over 1.5 lakh gram
panchayats with hotspots and access to digital services at low tariffs
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14.What was the total percentage increase in the Capital expenditure as proposed in
the Budget Estimate 2017-18 as compared to the previous year?
A.22.5 Percent
B.25.4 Percent
C.20.5 Percent
D.21.6 Percent
Answer: B.25.4 Percent
Explanation: Finance Minister Arun Jaitley has pegged the capital expenditure in 2017-18 at Rs
3.09 lakh crore, up 25.4 per cent from the Budget estimates of Rs 2.47 lakh crore for the current
fiscal.
15.NABARD will set up dedicated micro-irrigation fund to achieve Per Drop More Crop
mission. What is the initial corpus of the fund?
A.Rs. 5000 Crore
B.Rs. 4500 Crore
C.Rs. 5500 Crore
D.Rs. 4200 Crore
Answer: A.Rs.5000 Crore
Explanation:
A dedicated Micro Irrigation Fund to be set up in NABARD to achieve the goal, 'per drop more
crop'. The Fund will have an initial corpus of Rs 5,000 crore.
16.What is the total allocation made under the Fasal Bima Yojana in the Union Budget
2017-18?
A.Rs. 7500 crore
B.Rs. 9000 crore
C.Rs. 5500 crore
D.Rs. 8000 crore
Answer: Rs. 9000 crore
Explanation:
Coverage under Fasal Bima Yojana scheme will be increased from 30% of cropped area in 2016-
17 to 40% in 2017-18 and 50% in 2018-19 for which a budget provision of Rs. 9000 crore has
been made.
17.What is the initial corpus of the Diary Processing and Infrastructure Development
Fund in NABARD as announced in Budget Estimates 2017-18?
A.Rs. 8000 crore
B.Rs. 4500 crore
C.RS. 2000 crore
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D.Rs. 3000 crore

Answer: C.RS. 2000 crore
Explanation:
Dairy Processing and Infrastructure Development Fund to be set up in NABARD with an initial
corpus of Rs. 2000 crores and will be increased to Rs. 8000 crores over 3 years.
18.An interest subvention of how many days would be provided to the farmers in
respect of their loans from the cooperative credit structure?
A.120 Days
B.90 Days
C.60 Days
D.45 Days
Answer: C.60 Days
Explanation:
A sum of Rs. 10 lakh crore is allocated as credit to farmers, with 60 days interest waiver.
19.Coverage under National Agricultural Market (e-NAM) has been increased from 250
Agriculture Produce Marketing Committees (APMCs) to _________ APMCs.
A.375
B.550
C.455
D.585
Answer: D.585
Explanation:
Coverage of the National Agricultural Market (e-NAM) will be expanded from the current 250 to
585 markets to enable farmers to get better prices.
20.Which of the following statements are true in context to the Union Budget 2017-18?
i.100 stations will be made differently abled friendly by providing lifts and escalators in 2017-18.
ii.By 2019, all coaches of Indian Railways will be fitted with bio toilets.
iii.It is proposed to feed about 7,000 stations with solar power in the medium term
iv.Railway lines of 3,500 kms will be commissioned in 2017-18.
A.Only i, iii & iv
B.Only ii, iii & iv
C.Only i, ii, iv
D.Only ii & iii
Answer: B.Only ii, iii & iv
Explanation:
500 stations will be made differently-abled friendly by providing lifts and escalators in 2017-18.
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By 2019, all coaches of Indian Railways will be fitted with bio toilets. Railway lines of 3,500 kms
will be commissioned in 2017-18. 7,000 stations would be feed with solar power in the medium
term.
21.The tax rate for individuals with income between Rs. 2.5 Lakh and Rs.5 lakh has
been reduced from 10 Percent to ______ Percent.
A.7 Percent
B.4 Percent
C.5 Percent
D.8 Percent
Answer: C.5 Percent
Explanation:
Existing rate of tax for individuals between Rs. 2.5- Rs 5 lakh is reduced to 5% from 10%.
22.What percent of surcharge on income tax would be levied on individuals with income
between Rs. 50 lakhs and Rs. 1 crore
A.10 Percent
B.9 Percent
C.7 Percent
D.8 Percent
Answer: A.10 Percent
Explanation:
10 % surcharge on individual income above Rs. 50 lakh and up to Rs 1 crore to make up for Rs
15,000 crore loss due to cut in personal I-T rate. 15 surcharge on individual income above Rs. 1
crore to remain.
23.Government plans to have single page income tax return filing form for taxable
income up to Rs. ________.
A.Rs. 2 Lakh
B.Rs. 3 Lakh
C.Rs. 4 Lakh
D.Rs. 5 Lakh
Answer: D.Rs. 5 Lakh
Explanation:
Centre has proposed simple one page return for people with an annual income of Rs. 5 lakh other
than business income.
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24.Small firms with turnover up to Rs.50 crore will need to pay a tax of _____ percent
instead of 30 percent
A.20 Percent
B.25 Percent
C.22 Percent
D.21 Percent
Answer: B.25 Percent
Explanation:
Under the corporate tax, in order to make MSME companies more viable, there is a proposal to
reduce tax for small companies with a turnover of up to Rs 50 crore to 25%. About 67 lakh
companies fall in this category. Ninety-six % of companies to get this benefit.
25.According to the Union Budget 2017-18, a surcharge of _______ percent on income

tax would be applicable on total income above Rs. 1 crore.
A.20 Percent
B.10 Percent
C.15 Percent
D.12 Percent
Answer: C.15 Percent
Explanation:
For individuals having income above Rs. 1 crore, the surcharge on income would remain as usual
at 15 percent.
26.According to the Union Budget 2017-18, a tax rebate of how much amount would be
provided to individuals having income up to Rs 3.5 lakh?
A.Rs. 1500 Crore
B.Rs. 2100 Crore
C.Rs. 2000 Crore
D.Rs. 2500 Crore
Answer: D.Rs. 2500 Crore
Explanation:
The benefit of rebate is being reduced to Rs 2500 from Rs. 5000 for assessees upto income of Rs
3.5 lakh.
27.What is the pegged fiscal deficit for 2017-18 as proposed in Union Budget 2017-18?
A.1.4 Percent of GDP
B.2.5 Percent of GDP
C.3.2 Percent of GDP
D.3 Percent of GDP
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Answer: C.3.2 Percent of GDP

Explanation:
Fiscal deficit of 2017-18 pegged at 3.2% of the GDP. Government will remain committed to
achieving 3% in the next year.
28.According to the Union Budget 2017-18, government has proposed to set up 2

strategic crude oil reserves in which of the following locations?
A.Cuttack in Odisha and Kota in Rajasthan
B.Chandikhole in Odisha and Bikaner in Rajasthan
C.Cuttack in Odisha and Bikaner in Rajasthan
D.Chandikhole in Odisha and Kota in Rajasthan
Answer: B.Chandikhole in Odisha and Bikaner in Rajasthan
Explanation:
Finance Minister has proposed to set up strategic crude oil reserves at 2 more locations, namely,
Chandikhole in Odisha and Bikaner in Rajasthan. This will take the strategic reserve capacity to
15.33 MMT
29.The allocation for highways under the road sector has increased from Rs. 57,976
crores in 2016-17 to Rs.________ crores in 2017-18.
A.Rs. 64,900 crores
B.Rs. 59,500 crores
C.Rs. 61,200 crores
D.Rs. 47,255 crores
Answer: Rs. 64,900 crores
Explanation:
The budget allocation for the National Highways has been increased from Rs 57,676 crore in the
BE of 2016-17 to Rs 64,000 crore in 2017-18
30.As per the Union Budget 2017-18, the government aims to eliminate unmanned level
crossings on Broad Gauge lines by which year?
A.2022
B.2018
C.2019
D.2020
Answer: D.2020
Explanation:
Railways will eliminate all unmanned level crossings on broad gauge lines by 2020 and expert
international assistance will be harnessed to improve safety preparedness and maintenance
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practices as per the Budget 2017-18. Unmanned level crossings are a major reason for train
accidents.
31.As per the Union Budget 2017-18, the allowable provision for Non-Performing Asset
of Banks has been increased from 7.5 percent to ______ percent?
A.8.5 Percent
B.8 Percent
C.9 Percent
D.7.9 Percent
Answer: A.8.5 Percent
Explanation:
The finance minister has proposed to increase allowable provision for Non-Performing Asset of
banks from 7.5 per cent to 8.5 per cent. The increased provisioning of Non-Performing Assets
(NPAs) of banks proposed in the budget is unlikely to change the fortunes of banking funds.
32.The total allocation under MGNREGA has been increased to all time high at Rs.
________ in the Budget Estimate 2017.
A.Rs. 45500 crore
B.Rs. 50000 crore
C.Rs. 48000 crore
D.Rs. 38600 crore
Answer: Rs. 48000 crore
Explanation:
The government has allocated Rs 48,000 crore to the scheme in this year's Budget. The rural
development ministry is expecting more funds at its disposal for the next fiscal.
33.According to the Union Budget 2017, Women participation in MGNREGA has

increased to ________ percent from less than 48 percent.
A.53 Percent
B.52 Percent
C.50 Percent
D.55 Percent
Answer: D.55 Percent
Explanation:
Government has proposed increase in MGNREGA allocation a record Rs 48,000 crore for 2017-18,
up from Rs 37,000 crore in 2016-17. Women participation in MGNREGA act has also been
increased up to 55 percent.
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34.The government aims to bring one crore households out of poverty and 50,000 Gram
Panchayats poverty free by which year?
A.2019
B.2022
C.2021
D.2020
Answer: A.2019
Explanation:
The government targets to bring 1 crore households out of poverty and making 50,000 gram
panchayats poverty free by 2019.
35.Based on the Union Budget 2017-18, Skill Acquisition and Knowledge Awareness for
Livelihood Promotion programme (SANKALP) will be launched at a cost of Rs.
___________.
A.Rs. 3500 crores
B.Rs. 4000 crores
C.Rs. 3200 crores
D.Rs. 2500 crores
Answer: B.Rs. 4000 crores
Explanation:
Government has announced a Rs 4,000-crore programme 'SANKALP', aimed at providing market
relevant training to 3.5 crore youth across the country.
36.How much amount has been assigned to launch next phase of Skill Strengthening for
Industrial Value Enhancement (STRIVE) in 2017-18?
A.Rs. 2400 crores
B.Rs. 2500 crores
C.Rs. 2100 crores
D.Rs. 2200 crores
Answer: D.Rs. 2200 crores
Explanation:
The next phase of Skill Strengthening for Industrial Value Enhancement (STRIVE) will also be
launched in 2017-18 at a cost of ` 2,200 crores. STRIVE will focus on improving the quality and
market relevance of vocational training provided in ITIs and strengthen the apprenticeship
programmes through industry cluster approach
37.How much amount of assistance would be provided to the National Agricultural

Market (e-NAM) as per the Union Budget 2017-18?
A.Rs. 65 Lakhs
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B.Rs. 69 Lakhs
C.Rs. 75 Lakhs
D.Rs. 72 Lakhs
Answer: C.Rs. 75 Lakhs
Explanation:
Coverage of National Agricultural Market (e-NAM) increased from the current 250 Agriculture
Produce Marketing Committees (APMCs) to 585 APMCs. Assistance of Rs. 75 lakh to each APMCs
38.Based on the data given by Finance Minister Arun Jaitley in the Budget 2017, the
Foreign exchange reserves have reached US Dollar_______ billion as on 20th January,
2017
A.USD 361 billion
B.USD 320 billion
C.USD 375 billion
D.USD 382 billion
Answer: A.USD 361 billion
Explanation:
The FDI flow has increased by 36 per cent. The forex reserves are at USD 361 billion in January
which is enough to cover 12 months needs
39.Which among the given statements are true as per the Union Budget 2017-18?
i. For imparting new skills to people in rural areas, mason training will be provided to 5 lakh
persons by 2022
ii. Sanitation coverage in rural India has gone up from 42% in Oct 2014 to about 60%.
iii. Allocation for Prime Minister's Employment Generation Program and Credit Support Schemes
has been increased three times.
iv. A programme of “human resource reforms for results” will be launched during 2017-18 for
human resources development in Panchayati Raj Institutions
A.Only ii, iii & iv
B.Only i, ii, iv
C.Only ii, & iv
D.All Are Correct
Explanation:
For imparting new skills to people in rural areas, mason training will be provided to 5 lakh persons
by 2022. Sanitation coverage in rural India has gone up from 42% in Oct 2014 to about 60%.
Allocation for Prime Minister's Employment Generation Program and Credit Support Schemes has
been increased three times. A programme of “human resource reforms for results” will be
launched during 2017-18 for human resources development in Panchayati Raj Institutions
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40.How many farm ponds under MANREGA has been proposed in the Union Budget for
2017-18?
A.4 Lakhs
B.10 Lakhs
C.7 Lakhs
D.5 Lakhs
Answer: D.5 Lakhs
Explanation:
During 2017-18, five lakh farm ponds will be be taken up under the MGNREGA. Besides, target of
completing 5 lakh farm ponds and 10 lakh compost pits from MGNREGA funds by March 2017.
41.Under the Pradhan Mantri Awaas Yojana (Gramin), government aims to complete 1
crore houses for the houseless and those living in kutcha houses by which year?
A.2019
B.2021
C.2022
D.2020
Answer: A.2019
Explanation:
Governemnt has proposed to construct 1 crore houses by 2019 for houseless and kucha house
residing people.
42.As proposed in the Union Budget 2017-18, three new All India Institutes of
Medical Sciences (AIIMS) will be established in which states?
A.Rajasthan Karnataka and Odisha
B.Odisha, Andhra Pradesh and Gujarat
C.Jharkhand, Telangana and Gujarat
D.Jharkhand, Telangana and Rajasthan
Answer: C.Jharkhand, Telangana and Gujarat
Explanation:
Two new All India Institutes of Medical Sciences (AIIMs) will be set up in the States of
Jharkhand , Telangana and Gujarat.
43.The Union Government aims to achieve 100 percent electrification of all the villages
of India by which year?
A.May 1, 2018
B.March 31, 2019
C.April 1, 2018
D.March 1, 2020
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Answer: A.May 1, 2018

Explanation:
Government aims to achieve 100% village electrification by May 1, 2018.
44.How much amount has been proposed under Pradhan Mantri Awaas Yojana (Gramin)
in the Union Budget 2017-18?
A.Rs. 25,000 crores
B.Rs. 23,000 crores
C.Rs. 27,000 crores
D.Rs. 31,000 crores
Answer: B.Rs. 23,000 crores
Explanation:
Allocation for Pradhan Mantri Awaas Yojana (Gramin) has been increased from Rs. 15,000 crores
in BE 2016-17 to Rs. 23,000 crores in 2017-18 with a target to complete 1 crore houses by 2019
for the houseless and those living in kutcha houses.
45.The National Housing Bank will refinance individual housing loans of about Rs.
_____________in 2017-18
A.Rs. 55,000 crores
B.Rs. 25,000 crores
C.Rs. 36,000 crores
D.Rs. 20,000 crores
Answer: D.Rs. 20,000 crores
Explanation:
National Housing Bank will refinance individual housing loans of about Rs. 20,000 crore in 2017-
18.
46.The Union Government aims to eliminate Measles by which year?

A.2022
B.2021
C.2017
D.2020
Answer: 2020
Explanation:
Action plan made to eliminate Kala-Azar and Filariasis by 2017, Leprosy by 2018, Measles by
2020 and tuberculosis by 2025.
47.The Union Government aims to eliminate Kala-Azar and Filariasis by which year?
A.2019
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B.2022
C.2025
D.2017
Answer:2017
Explanation:
48.The Union Government aims to eliminate Tuberculosis by which year?

A.2025
B.2021
C.2023
D.2020
Answer: A.2025
Explanation:
49.The Union Government aims to eliminate Leprosy by which year?

A.2017
B.2018
C.2021
D.2022
Answer: B.2018
Explanation:
2020 and tuberculosis by 2025 and action plan to reduce Infant Mortality Rate (IMR) from 39 in
2014 to 28 by 2019 and Measles, Mumps, and Rubella (MMR) from 167 in 2011-13 to 100 by
2018-2020.
50.How much amount has been proposed by the government in the Union Budget 2017
for each pregnant woman under Maternity Benefit Scheme who undergoes institutional
delivery and vaccinates their children?
A.Rs. 7000
B.Rs. 4500
C.Rs. 5000
D.Rs. 6000
Answer: Rs. 6000
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Explanation:
Under Maternity Benefit Scheme Rs. 6,000 will be transferred directly to the bank accounts of
pregnant women who undergoes institutional delivery and vaccinates their children
51.As per the Union Budget 2017-18, centre has allocated how much amount to set up
Mahila Shakti Kendra?
A.Rs. 500 crores
B.Rs. 750 crores
C.Rs. 600 crores
D.Rs. 825 crores
Answer: A.Rs. 500 crores
Explanation:
Mahila Shakti Kendra to be set up at village level with an allocation of Rs. 500 crores in 14 lakh
Integrated Child Development Services (ICDS) Anganwadi Centres.
52.The union government aims to achieve a target of how many digital transactions in
2017-18 through UPI, USSD, Aadhar Pay, IMPS and debit cards?
A.3000 crore
B.2500 crore
C.1700 crore
D.2900 crore
Answer: B.2500 crore
Explanation:
Government has set up a mission to target 2,500 crore digital transactions for 2017-18 through
UPI, USSD, Aadhar Pay, IMPS and debit cards.
53.Among the given statements, which are true in respect of the Union Budget 2017-
18?
i.Government aims to launch a scheme to create employment in the leather and footwear
industries along the lines in Textiles Sector.
ii.Incredible India 4.0 Campaign will be launched across the world to promote tourism and
employment.
iii.SWAYAM platform, leveraging IT, to be launched with at least 350 online courses.
A.Only ii & iii
B.Only i & iii
C.None are Correct
D.All are Correct
Answer: D.All are Correct
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Explanation:
SWAYAM platform, leveraging IT, to be launched with at least 350 online courses in foreign
languages, Incredible India 4.0 Campaign to be launched to promote tourism and employment,
Government aims to launch a scheme to create employment in the leather and footwear
industries along the lines in Textiles Sector.
54.The Union government aims to create how many additional Post Graduate seats per
annum in Medical colleges to ensure adequate availability of specialist doctors to
strengthen Secondary and Tertiary levels of health care?
A.5000
B.2500
C.7500
D.3000
Answer: A.5000
Explanation:
Government aims to create additional 5,000 Post Graduate seats per annum in Medical colleges to
ensure adequate availability of specialist doctors to strengthen Secondary and Tertiary levels of
health care
55.The Basic customs duty on LNG has been reduced from 5 percent to _______
percent.
A.3 Percent
B.2 Percent
C.4.5 Percent
D.2.5 Percent
Answer: D.2.5 Percent
Explanation: Basic customs duty on LNG is reduced from 5% to 2.5% as per the Budget 2017-
18.
56.The Union Government has targeted the fiscal deficit for 2017-18 at _______percent
of GDP
A.3 Percent
B.2.5 Percent
C.3.2 Percent
D.2.7 Percent
Answer: C.3.2 Percent
Explanation:
The fiscal deficit projected for 2017-18 is 3.2% of GDP and 3% in the following year.
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57.How many new All India Institutes of Medical Sciences (AIIMS) would be set up in
2017-18 as per the Union Budget 2017?
A.5
B.7
C.2
D.3
Answer: C.2
Explanation:
Two new All India Institutes of Medical Sciences (AIIMS) has been proposed in the Union Budget
2017-18 to be set up in Jharkhand and Gujarat.
58.Banks have targeted to introduce how many Aadhar based Point-Of-Sales (POS)
machines by September 2017?
A.25 Lakh
B.19 Lakh
C.32 Lakh
D.20 Lakh
Answer: D.20 Lakh
Explanation:
Banks to introduce additional 10 lakh new PoS terminals by March 2017 and 20 lakh Aadhar based
PoS by September 2017.
59.Banks have targeted to introduce additional 10 lakh new POS terminals by which
year?
A.March 2017
B.April 2018
C.February 2020
D.March 2019
Answer: A.March 2017
Explanation:
Banks to introduce additional 10 lakh new PoS terminals by March 2017 and 20 lakh Aadhar based
PoS by September 2017.
60.How much amount has been allocated for recapitalization of Banks provided in 2017-
18 as per the estimates of Union Budget 2017-18?
A.Rs. 12,000 crores
B.Rs. 10,000 crores
C.Rs. 15,500 crores
D.Rs. 11,250 crores
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Answer: B.Rs.10,000 crores

Explanation:
Rs. 10,000 crore has been allocated for recapitalization of Banks in 2017-18 in line with the
‘Indradhanush’ roadmap.
61.What is the total allocation made under the transportation sector as a whole
including rail, roads, shipping in the Union Budget 2017?
Answer: D.Rs.2,41,387 crores
Explanation:
The Budget 2017-18 has made a provision of Rs 2,41,381 Crores for the transport sector as a
whole. This includes rail, roads and shipping. It is expected that an effective multi modal logistics
and transport sector will make the economy more competitive.
62.The total capital and development expenditure in the railway sector has been pegged
at Rs. _______in the Budget Estimates for 2017-18?
Answer: C.Rs. 1,31,000 crores
Explanation:
The total capital and development expenditure of Railways has been allotted Rs. 1,31,000 crores
out of which Rs. 55,000 crores would be funded by the Government.
63.According to the Union Budget 2017-18, transaction above how much will not be
permitted in cash?
A.Rs. 3 Lakhs
B.Rs. 4 Lakhs
C.Rs. 5 Lakhs
D.Rs. 6 Lakhs
Answer: A.Rs. 3 Lakhs
Explanation:
Finance Minister Arun Jaitleyannounced in his budget speech that on the recommendation of
the Special Investigation Team (SIT) on Black Money, the government had decided not to allow
cash transactions above Rs 3 lakh.
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64.Which national agency will be phased out in the next fiscal, as per the Budget 2017?
A.NITI Aayog
B.Foreign Investment Promotion Board
C.Securities Exchange Board of India
D.Confederation of Indian Industry
Answer: B.Foreign Investment Promotion Board
Explanation:
The government has decided to abolish the Foreign Investment Promotion Board FIPB in 2017-
2018. A roadmap for its abolition is to be announced in the next few months.
65.As per the Union Budget 2017-18, the allocation for PM's Employment Generation
and Credit Support schemes has been increased by how many times?
A.2 Times
B.3 Times
C.4 Times
D.5 Times
Answer: B.3 Times
Explanation:
3 times increased allocation for Prime Minister’s Employment Generation Programme (PMEGP) and
credit support schemes.
66.Which facility was announced for senior citizens in Budget 2017-2018?

A.Aadhaar-enabled smart cards
B.BHIM app
C.Shakti Kendras
D.None of the above
Answer: A.Aadhaar-enabled smart cards
Explanation:
The government has announced Aadhaar-based smart cards for senior citizens for their health and
well-being. The FM further said that the pilot service of these cards would take off in 15 cities
initially in India beginning this year.
67.The Union Finance Minister Arun Jaitley has given the Agenda for 2017-18 Buget as
TEC India. Expand TEC India.
A.Target, Economic and Cultural India
B.Transparency, Energy and Clear India
C.Transform, Energise and Clean India
D.True, Economical and Clean India
Answer: C.Transform, Energise and Clean India
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Explanation:
The agenda for the Union Budget 2017-18 is TEC India, where T stands for Transform, E stands
for Energize and C for Clean. The agenda seeks to transform the quality of governance and life of
people; Energise various sections of society especially the youth and the vulnerable to bring out
the best in them and Clean the country from the evils of corruption, black money and non-
transparent political funding.
68.How much amount has been allocated for the welfare of Scheduled Castes in the
A.Rs. 52,393 crores
B.Rs. 62,395 crores
C.Rs. 71,500 crores
D.Rs. 49,125 crores
Answer: A.Rs. 52,393 crores
Explanation:
Allocation for the welfare schemes of Scheduled Castes increased 35 percent from Rs. 38,833
crores in 2016-17 to Rs. 52,393 crores in 2017-18.
69.How much amount has been proposed in the Union Budget 2017-18 for the welfare
of Scheduled Tribes?
A.Rs. 45,922 crores
B.Rs. 31,920 crores
C.Rs. 23,250 crores
D.Rs. 29, 175 crores
Answer: B.Rs. 31,920 crores
Explanation: The allocation for Scheduled Tribes has been increased to Rs. 31,920 crores and for
Minority Affairs to Rs. 4,195 crores
70.As per the Union Budget 2017-18, which schemes would be launched by the
government to promote usage of BHIM App?
A.Referal Bonus Scheme and Cashback Scheme
B.Digital Litracy Scheme & Digital Lottery scheme
C.Free Recharge Scheme & Supersaver Scheme
D.Luckydraw Scheme & Random Selection Scheme
Answer: A.Referal Bonus Scheme and Cashback Scheme
Explanation:
The Government will launch two new schemes to promote the usage of BHIM. These are Referral
Bonus Scheme for individuals and a Cashback Scheme for merchants.
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71.As per the Union Budget 2017-18, the holding period for the long term capital gains
has been reduced from 3 years to how many years?
A.9 Months
B.1 Year
C.2 Years
D.7 Months
Answer: C.2 Years
Explanation: Reduction in the holding period for computing long term capital gains from transfer
of immovable property from 3 years to 2 years.
72.As proposed in the Budget 2017, high speed Broadband connectivity on optical fiber
will be made available in nearly ________ gram panchayats by the end of 2017-18?
A.100000
B.110000
C.120000
D.150000
Answer: D.150000
Explanation:
Under the BharatNet Programme, by the end of 2017-18, high speed broadband connectivity on
optical fibre will be available in more than 1,50,000 gram panchayats.
73.The government has proposed to launch a new and restructured Central scheme for
export named ________________________ in 2017-18.
A.Trade and Export Promotion Scheme (TEPS)
B.Trade Infrastructure for Export Scheme (TIES)
C.Export Infrastructure Innovation Scheme (EIIS)
D.Export Oriented Unit Scheme (EOUS)
Answer: B.Trade Infrastructure for Export Scheme (TIES)
Explanation:
A new and restructured Central scheme with a focus on export infrastructure, namely, Trade
Infrastructure for Export Scheme (TIES) will be launched in 2017-18 to create infrastructure for
exports and reduce transaction costs for traders.
74.As per the Union Budget 2017-18, the capital gains tax has been exempted for
persons holding the land which was pooled for creation of the state capital ________
A.Telangana
B.Uttarakhand
C.Jharkhand
D.Chhattisgarh
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Answer: A.Telangana
Explanation:
Capital gains tax to be exempted for persons holding land from which land was pooled for creation
of state capital of Telangana.
75.How much amount has been allocated for Ministry of Science and Technology in the
A.Rs. 37,435 crore
B.Rs. 32,567 crore
C.Rs. 29,367 crore
D.Rs. 12,763 crore
Answer: A.Rs 37,435 crore
Explanation:
Scientific ministries have been earmarked Rs 37,435 crore in the Union Budget 2017-18 by the
Finance Minister.
76. How much amount has been allocated to the Department of Economic Affairs in the
Budget 2017?
A.Rs. 25,00 crore
B.Rs. 19,50 crore
C.Rs. 35,00 crore
D.Rs. 3,000 crore
Answer: D.Rs. 3,000 crore
Explanation:
Government has proposed Rs. 3,000 crore under Dept of Economic Affairs for implementing
Budget announcements.
77.How many Health sub centers has been decided to be transformed into health
wellness centres as per the Union Budget 2017-18?
A.2.0 lakh
B.1.5 lakh
C.3.2 lakh
D.1.2 lakh
Answer: B.1.5 lakh
Explanation:
Health sub centres, numbering 1.5 lakh, willl be transformed into health wellness centres.
23 | P a g e
78.Which initiative has been proposed in the Union Budget 2017-18 by the government
to provide tele-medicine, education and skills through digital technology?
A.SANKALP
B.STRIVE
C.DigiGaon
D.SWAYAM
Answer: C.DigiGaon
Explanation:
A DigiGaon initiative will be launched to provide tele-medicine, education and skills through digital
technology in Budget 2017-18
79.As per the data in Union Budget 2017-18, more than _________ percent of FDI
inflows are through automated route.
A.85 Percent
B.90 Percent
C.72 Percent
D.88 Percent
Answer: B.90 Percent
Explanation:
The government has informed that after FDI policy reforms more than 90% of FDI inflows are now
through the automatic route.
80. How many Special Tourism Zones have been proposed by the government to be
established in 2017-19?
A.Three
B.Five
C.Seven
D.Nine
Answer: B.Five
Explanation:
The government will establish five special tourism zones anchored on SPV (Special purpose
vehicle) in the financial year 2017-18 in partnership with the state governments.
81.How many international skill centers to be opened to help people get jobs in abroad?
A.50
B.75
C.150
D.100
Answer: D.100
24 | P a g e
Explanation:
Finance Minister has allocated Rs 3,016 crore to the Ministry of Skill Development and
Entrepreneurship Budget 2017. 5 lakh people will be given mason training in the next five years
and 100 India International Skills Centres, offering advanced training including courses in foreign
languages will be set up.
82.The government aims to launch SWAYAM Platform to provide at-least 350 online
courses for enabling students to virtually attend courses. What does SWAYAM stands
for?
A.Skill for Web based Active Learning for Young Aspiring Minds
B.Study Webs of Active –Learning for Young Aspiring Minds
C.Scientific and Web Activated Learning for Youth and Aspiring Minds
D.Scholarship in Web Active Learning for Young Achieving Members
Answer: B.Study Webs of Active –Learning for Young Aspiring Minds
Explanation:
SWAYAM or Study Webs of Active –Learning for Young Aspiring Minds platform, will be launched
with at least 350 online courses. This would enable students to virtually attend courses taught by
the best faculty
83.According to the Union Budget 2017-18, the total resources transferred to the States
and Union Territories is ____________
A.Rs. 3.28 Lakh Crore
B.Rs. 4.11 Lakh Crore
C.Rs. 2.75 Lakh Crore
D.Rs. 3.77 Lakh Crore
Answer: B.Rs. 4.11 Lakh Crore
Explanation:
Total resources being transferred to the States and the Union Territories with Legislatures is
4,11,000 crore, against ` 3,60,000 crores in 2016- 17.
84.As per the data in the Budget 2017-18, World Bank has projected India’s GDP
growth rate at __________ percent for Financial Year 2018.
A.7.6 Percent
B.8.1 Percent
C.6.9 Percent
D.7.2 Percent
Answer: A.7.6 percent
Explanation:
The World Bank expects India’s GDP growth rate at 7.6% in Financial Year 2018.
25 | P a g e
85.As per the Union Budget 2017-18, a tax rate of 25 percent would be levied on small
and medium sized enterprises which have an annual turnover of up to Rs.__________
A.25 crore
B.50 crore
C.45 crore
D.35 crore
Answer: B.Rs.50 crore
Explanation:
In order to make MSME companies more viable, income tax for companies with annual turnover
upto Rs. 50 crore is reduced to 25%. About 96% of companies will get this benefit of lower
taxation. This will make our MSME sector more competitive as compared to large companies.
86.Which of the following campaign will be launched by the Union Government to

promote tourism and employment, as per the Union Budget 2017?
A.Incredible India 2.0
B.Revolutionary India
C.Incredibly Superior India
D.Pride of the World
Answer:
A.Incredible India 2.0
Explanation:
Government has proposed to introduce Incredible India 2.0 Campaign to promote tourism and
employment.
87. As per the Union Budget 2017-18, LIC will implement a scheme to provide a
guaranteed rate of return of ________percent per annum for 10 years to senior
citizens.
A.9 Percent
B.10 Percent
C.8 Percent
D.7 Percent
Answer: C.8 Percent
Explanation:
LIC will implement a scheme for senior citizens to provide assured pension, with a guaranteed
return of 8% per annum for 10 years. For senior citizens, Aadhaar based smart cards containing
their health details will be introduced. A beginning will be made through a pilot in 15 districts
during 2017-18.
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88.As per the budget how many Railway stations will be made differently abled friendly
by providing lifts and escalators?
A.550
B.500
C.450
D.390
Answer: B.500
Explanation:
Modernisation and upgradation of identified corridor, railway lines of 3,500 kms will be
commissioned, 25 stations are expected to be awarded for station redevelopment and 500
stations will be made differently abled friendly by providing lifts and escalatorsduring 2017-18.
These provide large opportunities under the Make in India initiative
89.The sanitation coverage in rural India has increased to ______ percent as per the
data in Budget 2017-18.
A.66 percent
B.75 percent
C.60 percent
D.59 percent
Answer: C.60 Percent
Explanation:
Sanitation coverage in rural India has gone up from 42% in Oct 2014 to about 60%. Open
Defecation Free villages are now being given priority for piped water supply.
90.For Small and Medium tax payers whose turnover is upto Rs. 2 crores, the
presumptive tax has been lowered from 8 percent to _______ percent.
A.4 Percent
B.7 Percent
C.5 Percent
D.6 Percent
Answer: D.6 Percent
Explanation:
The corporate tax has been reduced from 30% to 25% for those with an annual turnover for less
than Rs 50 crore. For SMEs with turnover up to Rs 2 crore, the presumptive tax will be lowered
from 8% to 6% and thus lowered the financial burden and boosting small merchants.
91.As per the Union budget 2017-18, what percent of service charge would be levied on
tickets booked through IRCTC?
A.1 Percent
27 | P a g e
B.5 Percent
C.10 Percent
D.No Service Charge
Answer: D.No Service Charge
Explanation:
No service charge would be levied. The service charge has been withdrawn effective 1 April 2017.
92.As per the Union Budget 2017-18, which of the given Railway subsidiaries will be
listed in the Stock exchange?
A.IRFC
B.IRCTC
C.IRCON
D.All the above
Answer: D.All the above
Explanation:
Railway Public Sector Enterprises will be listed in Stock exchange: The Finance Minister said
that shares of Railway Public Sector Enterprises (PSEs) like IRCTC, IRFC and IRCON will be listed
on stock exchanges.
93.How much amount has been approved in the Union Budget 2017-18 in incentive
schemes like M-SIPS and EDF to make India a global hub?
A.Rs. 745 crores
B.Rs. 850 crores
C.Rs. 693 crores
D.Rs. 710 crores
Answer: A.Rs. 745 crores
Explanation:
For creating an eco-system to make India a global hub for electronics manufacturing a provision
of Rs. 745 crores in 2017-18 in incentive schemes like M-SIPS and EDF.
94.What does S stands for in SANKALP?

A.Strength
B.Supreme
C.Skill
D.Satisfaction
Answer: C.Skill
Explanation:
Skill Acquisition and Knowledge Awareness for Livelihood Promotion programme (SANKALP) to be
28 | P a g e
launched at a cost of Rs. 4000 crores. SANKALP will provide market relevant training to 3.5 crore
youth.
95.The next phase of STRIVE will be launched at how much cost in 2017-18?
A.Rs.3,975 crore
B.Rs.1,765 crore
C.Rs.2,450 crore
D.Rs.2,200 crore
Answer: D.Rs.2,200 crore
Explanation:
Next phase of Skill Strengthening for Industrial Value Enhancement (STRIVE) will be launched in
2017-18 at a cost of Rs2,200 crore. STRIVE will focus to improve on the quality and the market
relevance of vocational training provided in ITIs and strengthen the apprenticeship programme
through industry-cluster approach.
96.Government has proposed to introduce a system of measuring annual learning with

focus on ______ educationally-backward blocks.
A.5,345
B.1,265
C.3,479
D.2,976
Answer: C.3,479
Explanation:
Government will introduce a system of measuring annual learning outcomes and come out with an
innovation fund for secondary education. Focus will be on 3,479 educationally-backward blocks.
97.As proposed by the government, which of the following will be established to

safeguard the financial sector from cyber crime?
A.E-Security
B.CERT-Fin
C.Secure-Fin
D.Cybersafe
Answer: B.CERT-Fin
Explanation:
A Computer Emergency Response Team for our Financial Sector (CERT-Fin) will be established for
safeguarding the integrity and stability of our financial sector and to strengthen security of the
financial sector amid increasing incidents of cyber frauds.
29 | P a g e
98.How much amount has been allocated to the Ministry of Defence in the Union Budget
2017-18?
A.2.55 lakh crore
B.2.74 lakh crore
C.3.77 lakh crore
D.1.75 lakh crore
Answer: B.Rs. 2.74 lakh crore
Explanation:
India's defence budget received a boost of 6.2 percent in the Budget 2017 speech delivered by
Union Finance Minister Arun Jaitley. The defence outlay is pegged at just over 2.74 lakh crore.
99. Union Budget 2017-18 focused on 10 distinct themes. Which among the following is
NOT among the themes?
A.Infrastructure
B.Youth
C.Cleanliness
D.Digital Economy
Answer: C.Cleanliness
Explanation:
The Union Budget 2017-18 is based on ten major themes. Farmers, Rural Population, Youth, Poor
and the Underprivileged, Infrastructure, Financial Sector , Digital Economy , Public Service ,
Prudent Fiscal Management and Tax Administration
100. The Union Budget 2017-18 contains 3 major reforms. Which among the following
reforms is not one of them?
A.Presentation of Budget advanced to 1st February
B.Removal of Plan and Non-Plan Classification of expenditure
C.Merger of Railways Budget with Finance Budget
D.All Are Correct
Explanation:
The Union Budget 2017-18 contains 3 major reforms. Presented on Februray 1, 2017 instead of
usual practice of being presented on last day of February, Merger of Railway Budget with the
General Budget, Abolition of Planned & Non-Planned Expenditure
30 | P a g e
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Union budget 2017-18 Questions & Answers

D.Rs. 3000 crore

25.According to the Union Budget 2017-18, a surcharge of _______ percent on income

Answer: C.3.2 Percent of GDP

28.According to the Union Budget 2017-18, government has proposed to set up 2

33.According to the Union Budget 2017, Women participation in MGNREGA has

37.How much amount of assistance would be provided to the National Agricultural

Answer: A.May 1, 2018

46.The Union Government aims to eliminate Measles by which year?

48.The Union Government aims to eliminate Tuberculosis by which year?

49.The Union Government aims to eliminate Leprosy by which year?

Answer: B.Rs.10,000 crores

66.Which facility was announced for senior citizens in Budget 2017-2018?

86.Which of the following campaign will be launched by the Union Government to

94.What does S stands for in SANKALP?

96.Government has proposed to introduce a system of measuring annual learning with

97.As proposed by the government, which of the following will be established to

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