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Union Budget 2019-20 & Economic Survey 2018-19 Q&A
Contents
Union Budget 2019-20 Q&A ............................................................................................................................. 1
Economic Survey 2018-19 – Q&A .................................................................................................................... 9
Union Budget 2019-20 Q&A
1. Under which article of the Constitution, the Centre presents the Union Budget?
1) Article 106
2) Article 112
3) Article 269
4) Article 275
Answer - 2) Article 112
Explanation - According to Article 112 of the Indian Constitution, the Union Budget of a year, also
referred to as the annual financial statement, is a statement of the estimated receipts and expenditure
of the government for that particular year.
2. Who has presented the Union Budget 2019-20 of Narendra Modi 2.0 government in the Lok
Sabha on 5 July 2019?
1) Subhash Chandra Garg
2) Arun Jaitley
3) Nirmala Sitharaman
4) Ajay Narayan Jha
Answer - 3) Nirmala Sitharaman
Explanation - Union Minister for Finance and Corporate Affairs Nirmala Sitharaman made her
maiden Budget Speech and presented the Union Budget 2019-20 in the Lok Sabha. She broke away
from the tradition when she replaced the conventional leather briefcase with a bright red cloth bag to
carry the Budget papers to the Parliament House. "Gaon, Garib and Kisan" (Village, Poor and Farmer)
was the centre of all policies of the Modi 2.0 Government.
3. How much amount has been allocated for the Department of Space for the year 2019-20?
1) Rs. 12,473.26 crore
2) Rs. 14,286.12 crore
3) Rs. 19,128.35 crore
4) Rs. 21,110.12 crore
Answer - 1) Rs. 12,473.26 crore
Explanation - The Budget allocation for the Department of Space for the year 2019-20 has gone up to
Rs. 12,473.26 crore. To harness India’s space ability commercially, incorporated as a new commercial
arm of Department of Space called New Space India Limited (NSIL).
4. How much of funds has been allocated towards the newly carved out Ministry of Fisheries,
Animal Husbandry, and Dairying?
1) Rs 1,505 crore
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2) Rs 3,737 crore
3) Rs 6,256 crore
4) Rs 8,250 crore
Answer - 3) Rs 3,737 crore
Explanation - A robust fisheries management framework through Pradhan Mantri Matsya Sampada
Yojana (PMMSY) to be established by the Department of Fisheries. It has allocated an estimated Rs
3,737 crore for the newly carved out Ministry of Fisheries, Animal Husbandry and Dairying.
5. How much is budgeted towards the total expenditure for 2019-20 ?

1) Rs 1,998,121 crore
2) Rs 1,876,209 crore
3) Rs 2,153,546 crore
4) Rs 2,786,349 crore
Answer - 4) Rs 2,786,349 crore
Explanation - The total expenditure for 2019-20 is budgeted at Rs 2,786,349 crore (US$ 417.95
billion), an increase of 14.09 per cent from 2018-19 (budget estimates).
6. Which entity will be set up under Khelo India programme for the development of
sportspersons in India?
1) National University of Sports (NUS)
2) Sports Institute of India (SII)
3) Sports Development Board of India (SDBI)
4) National Sports Education Board (NSEB)
Answer - 4) National Sports Education Board (NSEB)
Explanation - For the development of youth, National Sports Education Board (NSEB) for
development of sportspersons to be set up under Khelo India, to popularize sports at all levels.
7. To how much annual turnover, the Centre has decided to extend the pension benefit for
retail traders & small shopkeepers under "Pradhan Mantri Shram Yogi Maandhan Scheme(PM-
SYM)"?
1) Less than Rs 1 crore
2) Less than Rs 1.5 crore
3) Less than Rs 2 crore
4) Less than Rs 2.5 crore
Answer - 2) Less than Rs 1.5 crore
Explanation - Centre has decided to extend the pension benefit for retail traders & small
shopkeepers, who have annual turnover less than Rs 1.5 crore under "Pradhan Mantri Shram Yogi
Maandhan Scheme(PM-SYM).About 30 lakh workers joined the Pradhan Mantri Shram Yogi
Maandhan Scheme(PM-SYM) which provides Rs. 3,000 per month as pension on attaining the age of
60 to workers in unorganized and informal sectors.
8. What amount has been suggested by the government for the investment in railways
infrastructure between 2018-2030?
1) Rs 5,000,000 crore
2) Rs 6,000,000 crore
3) Rs 7,000,000 crore
4) Rs 8,000,000 crore
Answer - 1) Rs 5,000,000 crore
Explanation - The railway infrastructure will need an investment of Rs 50 lakh crore between 2018
and 2030. The capital expenditure outlay of Railways amounts to around Rs 1.5-1.6 lakh crore per
annum.
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9. How many funds have been allocated towards the Ministry of Railways for 2019-20?
1) Rs 876,209 crore
2) Rs 184,220 crore
3) Rs 94,071 crore
4) Rs 37,478 crore
Explanation - Ministry of Railways has been allocated Rs 94,071 crore (US$ 14.11 billion) in 2019-20.
10. For the upgradation of 1,25,000 km of road length over the next five years, how much
amount has been envisaged under Pradhan Mantri Gram Sadak Yojana-III (PMGSY)?
1) Rs 56,356 crore
2) Rs 80,250 crore
3) Rs 93,482 crore
4) Rs 69,153 crore
Explanation - Target of connecting the eligible and feasible habitations advanced from 2022 to 2019
with 97% of such habitations already being provided with all weather connectivity. 30,000 kilometers
of PMGSY roads have been built using Green Technology, Waste Plastic and Cold Mix Technology,
thereby reducing carbon footprint. 1,25,000 kilometers of road length to be upgraded over the next
five years under PMGSY III with an estimated cost of Rs. 80,250 crore.
11. Centre has given full tax rebate upto how much of annual income for Individual taxpayers?
1) Rs 200,000
2) Rs 250,000
3) Rs 300,000
4) Rs 500,000
Answer - 4) Rs 500,000
Explanation – Individual taxpayers with annual income up to Rs 500,000 (US$ 7,500) will get full tax
rebate and hence will not be required to pay any tax.
12. Finance Ministry has proposed how much percent of Tax Deducted at Source (TDS) on cash
withdrawal exceeding Rs 1 crore in a year from a bank account to promote less cash economy?
1) 1.5%
2) 2%
3) 2.75%
4) 3%
Answer - 2) 2%
Explanation –2% TDS (Tax Deducted at Source) on withdrawals of Rs 1 crore in a year from bank
accounts for business payments.
13. How much of taxable income is liable to fetch an increase in an effective tax rate for
individuals?
1) Above Rs 2 crore
2) above Rs 3 crore
3) Above Rs 5 crore
4) above Rs 7 crore
Answer - 1) Above Rs 2 crore
Explanation –Effective tax rate for individuals having taxable income above Rs 2 crore (US$ 0.30
million) has been increased.
14. What is the objective behind the proposal of the Sabka Vishwas Legacy Dispute Resolution
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Scheme?
1) Quick closure of banking & finance related litigations
2) Quick closure of Land Use and Environmental related litigation
3) Quick closure of service tax and excise related litigations
4) Quick closure of Privacy, Cybersecurity and Data Breach related litigations
Answer - 3) Quick closure of service tax and excise related litigations
Explanation – Sabka Vishwas Legacy Dispute Resolution Scheme proposed for quick closure of
service tax and excise related litigations.
15. Which year is set as a target for an ambitious goal of ensuring 'Har Ghar Jal' to all rural
households under 'Jal Jeevan Mission'?
1) 2022
2) 2024
3) 2027
4) 2030
Answer - 2) 2024
Explanation – Jal Jeevan Mission to achieve Har Ghar Jal (piped water supply) to all rural households
by 2024.
16. Which identity proof become eligible for filing Income Tax returns, in case the taxpayer
does not have PAN?
1) Electricity bill
2) Photo Passbook of running Bank Account
3) Driving License
4) Aadhaar
Answer - 4) Aadhaar
Explanation –Aadhaar and PAN to be interchangeable and permit those who do not have PAN to file
Income Tax returns by only citing their Aadhaar number.
17. What is the eligibility for taxpayers, who can file quarterly returns?
1) Annual turnover of less than Rs 3 crore
Answer - 2) Annual turnover of less than Rs 5 crore
Explanation – Taxpayers having annual turnover of less than Rs 5 crore (US$ 0.75 million) can now
file quarterly returns.
18. The Union Budget of 2019-20 has proposed the issuing Aadhaar card for non-resident
Indians (NRIs) with Indian passports after their arrival in India without waiting for the
mandatory days. What was the mandatory limit?
1) 150 days
2) 180 days
3) 192 days
4) 200 days
Answer - 2) 180 days
Explanation – As per the current Aadhaar laws, every resident shall be entitled to obtain an aadhaar
number by submitting his demographic information and biometric information by undergoing the
process of enrolment. If a person has resided in India for more than 180 days even if he is a NRI or
foreign national, he will be eligible to apply for Aadhaar. But now, in the Union Budget, it has been
proposed that issuing Aadhaar card for non-resident Indians (NRIs) with Indian passports after their
arrival in India without waiting for the mandatory 180 days.
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19. How much amount of loans will be granted to MSMEs within 59 minutes through a
committed online portal, as per proposal in Union Budget?
1) Up to Rs 1 crore
2) Up to Rs 2 crore
3) Up to Rs 3 crore
4) Up to Rs 4 crore
Answer - 1) Up to Rs 1 crore
Explanation – Government has proposed granting of loans up to Rs 1 crore (US$ 0.15 million) for
MSMEs within 59 minutes through a committed online portal.
20. How much amount has been allocated for FY 2019-20 under the Interest Subvention
Scheme for MSMEs?
1) Rs 196 crore
2) Rs 278 crore
3) Rs 350 crore
4) Rs 462 crore
Answer - 3) Rs 350 crore
Explanation – Under the Interest Subvention Scheme for MSMEs, Rs 350 crore (US$ 52.50 million)
has been allocated for FY 2019-20
21. What is the rank of India in Ease of Doing Business under the category of ‘paying taxes’ in
2019?
1) 121
2) 156
3) 172
4) 186
Answer - 1) 121
Explanation –India’s Ease of Doing Business ranking under the category of ‘paying taxes’ jumped
from 172 in 2017 to 121 in 2019.
22. How many funds have been proposed to be provided to Public Sector Banks to boost credit?
1) Rs 30,000 crore
2) Rs 55,000 crore
3) Rs 63,000 crore
4) Rs 70,000 crore
Explanation –Rs 70,000 crore proposed to be provided to Public Sector Banks to boost credit.
23. How much has been allocated towards transport sector for 2019-20?
1) Rs 78,626 crore
2) Rs 83,000 crore
3) Rs 62,500 crore
4) Rs 56,666 crore
Explanation –The transport sector has been allocated enhanced outlay of Rs 83,000 crore.
24. Which committee will be set up for the facilitation of women participation in the country's
development?
1) Nari hu Main
2) Nari tu Narayani
3) Nari Shakti
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4) Nari Samman
Answer - 2) Nari tu Narayani
Explanation –Naari Tu Narayani/(Woman you are a Goddess, Committee proposed with Government
and private stakeholders for moving forward on Gender budgeting.
25. How much is the overdraft facility has been allowed for every verified women Self Help
Groups (SHGs) member having a Jan Dhan Bank Account?
1) Rs. 5,000
2) Rs. 7,000
3) Rs. 10,000
4) Rs. 12,000
Answer - 1) Rs. 5,000
Explanation –Overdraft of Rs. 5,000 to be allowed for every verified women SHG member having a
Jan Dhan Bank Account.
26. What is the budget allocation towards the Phase-II of Faster Adoption and Manufacturing of
Hybrid and Electric vehicles (FAME) scheme?
1) Rs 5,000 crore for 3 years
Answer - 3) Rs 10,000 crore for 3 years
Explanation – Outlay of Rs 10,000 crore for 3 years approved for Phase-II of FAME Scheme.
27. Which entity has been proposed to be set up by the Central government in 2019-20 to
enhance sources of capital for infrastructure financing?
1) Credit Guarantee Enhancement Limited
2) Credit Assurity Enhancement Limited
3) Credit Assurity Enhancement Corporation
4) Credit Guarantee Enhancement Corporation
Answer - 4) Credit Guarantee Enhancement Corporation
Explanation – Credit Guarantee Enhancement Corporation to be set up in 2019-2020 to enhance
sources of capital for infrastructure financing.
28. To how much percent, the Finance Minister has proposed an increase in the current
Foreign Direct Investment (FDI) limit for the insurance intermediaries?
1) 49%
2) 67%
3) 92%
4) 100%
Answer - 4) 100%
Explanation – FDI limit on insurance intermediaries increased to 100% from 49%.
29. How much amount has been earmarked for the LPG subsidy in 2019-20?
1) Rs. 22605 crore
2) Rs. 32989 crore
3) Rs. 50821 crore
4) Rs. 76198 crore
Answer - 2) Rs. 32989 crore
Explanation – The Budget Estimates provide an amount of Rs. 37478 crore as Petroleum subsidy for
the 2019-20, compared to Rs. 24833 crore in revised estimates of 2018-19. Out of the above, Rs.
32989 crore are earmarked for LPG subsidy while Rs. 4489 crore have been allocated for kerosene
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subsidy.
30. To how much amount, the threshold exemption limit for a supplier of goods is proposed to
be enhanced from Rs 20 lakh?
1) 25 Lakh
2) 30 Lakh
3) 35 Lakh
4) 40 Lakh
Answer - 4) 40 Lakh
Explanation – The threshold exemption limit for a supplier of goods was proposed to be enhanced
from Rs 20 lakh to an amount exceeding Rs 40 lakhs.
31. Centre has stated an increase in Direct tax revenue to how much amount?
1) Rs. 11.37 lakh crore
Answer - 1) Rs. 11.37 lakh crore
Explanation – Direct tax revenue was increased by 78% to Rs. 11.37 lakh crore.
32. What is the Defence budget for 2019-20?

1) Rs 4.48 Lakh Crore
4) Rs 4,22 Lakh crore
Answer – 3) Rs 3.18 Lakh Crore
Explanation – For Defence Rs 3.18 Lakh Crore is allocated
.
33. In the proposed Budget 2019-20, how much funds have been allocated towards the
Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS)?
1) Rs 52,000 crore
2) Rs 60,000 crore
3) Rs 38,000 crore
4) Rs 41,000 crore
Explanation –In the proposed Budget 2019-20, Mahatma Gandhi National Rural Employment
Guarantee Scheme (MGNREGS) was allocated Rs 60,000 crore.
34. Who has presented the first Union budget of independent India on November 26, 1947?
1) CD Deshmukh
2) Kailash Nath Katju
3) Baldev Singh
4) R K Shanmukham Chetty
Answer - 4) R K Shanmukham Chetty
Explanation – The first Union budget of independent India was presented by R. K. Shanmukham
Chetty on November 26, 1947.
35. Which Finance Minister had presented the maximum number of budgets?
1) Morarji Desai
2) P Chidambaram
3) Pranab Mukherjee
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4) Manmohan Singh
Answer - 1) Morarji Desai
Explanation –Former Finance Minister Morarji Desai presented the budget ten times, the most by
any.
36. In which year, Rail Budget was merged with Union Budget?
1) 2014
2) 2015
3) 2016
4) 2017
Answer - 4) 2017
Explanation – Railway Budget was presented every year, a few days before the Union budget, till
2016. Modi government on 21 September 2016 approved merger of the Rail and General budgets
from 2017, ending a 92-year-old practice of a separate budget for the nation's largest transporter.
37. Centre has proposed to promote ZBNF to reduce the cost of production of farmers and
thereby double their income. What is the full form of ZBNF?
1) Zero Budget Neutral Farming
2) Zero Budget Natural Farming
3) Zero Budget Nutritional Farming
4) Zero Budget National Farming
Answer - 2) Zero Budget Natural Farming
Explanation- The Full form of ZBNF - Zero Budget Natural Farming
38. How many villages are presently open defecation free?

1) 4.4 lakhs
2) 5.6 lakhs
3) 7.2 lakhs
4) 8.5 lakhs
Answer - 2) 5.6 lakhs
Explanation-More than 5.6 lakh villages have become open defecation free.
39. Who has originally proposed the concept of zero budget natural farming (ZBNF)?
1) Subhash Palekar
2) PJ Kurien
3) MS Swaminathan
4) Norman Borlaug
Answer - 1) Subhash Palekar
Explanation-Subhash Palekar proposed the concept of zero budget natural farming (ZBNF)
40. Under which scheme, Common Facility Centres (CFCs) to be set up to facilitate cluster-
based development for making traditional industries more productive, profitable and capable
of generating sustained employment opportunities.
1) Credit Linked Capital Subsidy Scheme
2) The National Scheme of Apprenticeship Training
3) Scheme of Fund for Upgradation and Regeneration of Traditional Industries
4) Make in India
Answer - 3) Scheme of Fund for Upgradation and Regeneration of Traditional Industries
Explanation - Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman said that the
Government aims to set up more Common Facility Centres (CFCs) under the ‘Scheme of Fund for
Upgradation and Regeneration of Traditional Industries’ (SFURTI).
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Economic Survey 2018-19 – Q&A

1. Who has prepared the Economic Survey 2018-19?
1) Ajay Bhushan Pandey
2) Krishnamurthy Subramanian
3) Subhash Chandra Garg
4) Girish Chandra Murmu
Answer - 2) Krishnamurthy Subramanian
Explanation - The Economic Survey 2018-19 was prepared by Chief Economic Advisor
Krishnamurthy Subramanian.
2. Who has presented the Economic Survey 2018-19?

1) Renuka Singh
2) Nirmala Sitharaman
3) Smriti Irani
4) Niranjan Jyoti
Answer - 2) Nirmala Sitharaman
Explanation - The Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman
presented the Economic Survey 2018-19.
3. The Union Ministry for Finance and Corporate Affairs has chosen which color on the cover
page of Economic Survey 2018-19.
1) White
2) Orange
3) Green
4) Skyblue
Answer - 4) Skyblue
Explanation - The economic Survey 2018-19 had a cover page in sky blue colour as it adopts an
unfettered approach in thinking about the appropriate economic model for India.
4. How much Gross Domestic Product (GDP) growth rate is needed for a $5 trillion economy by
2024-25?
1) 7%
2) 7.6%
3) 8%
4) 8.5%
Answer - 3) 8%
Explanation - Sustained real Gross Domestic Product (GDP) growth rate of 8% is needed for a $5
trillion economy by 2024-25. Virtuous Cycle of savings, investment, and exports supported by a
favorable demographic phase are required for sustainable growth.
5. Which firms are considered as dwarf as per the Central Government?

1) Firms with less than 700 workers
Answer - 2) Firms with less than 100 workers
Explanation - Survey focused on enabling MSMEs (Micro, Small & Medium Enterprises) to grow for
achieving greater profits, job creation and enhanced productivity. Dwarfs (firms with less than 100
workers) despite being more than 10 years old, account for more than 50% of all organized firms in
manufacturing by number. Contribution of dwarfs to employment is only 14% and productivity is a
mere 8%.
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6. How much percent of household have access to toilets under Swachh Bharat Mission (SBM)?
1) 93.1%
2) 96.5%
3) 100%
4) 90%
Answer - 1) 93.1%
Explanation - 93.1% of households have access to toilet. 96.5% of those with access to toilets are
using them in rural India. 100% Individual Households Latrine (IHHL) Coverage in 30 states and
Union Territories.
7. At which position, India ranks globally in wind power?

1) 2nd
2) 4th
3) 6th
4) 8th
Answer - 2) 4th
Explanation - India now stands at 4th in wind power, 5th in solar power and 5th in renewable power
installed capacity.
8. Which year is set as the target to achieve an installed capacity of renewable-based power of
175 GW?
1) 2022
2) 2024
3) 2025
4) 2027
Answer - 1) 2022
Explanation - The cumulative renewable power installed capacity (excluding hydro above 25 MW)
was more than doubled from 35 GW on 31st March, 2014 to 78 GW on 31st March, 2019. The target is
to achieve an installed capacity of renewable-based power of 175 GW by the year 2022.
9. How much amount has been saved by the launch of energy efficiency programs in India?
1) Rs 18,000 crore
2) Rs 32,000 crore
3) Rs 50,000 crore
4) Rs 65,000 crore
Explanation - Rs 50,000 crore saved and 108.28 million tonnes of Carbon dioxide emissions reduced
by energy efficiency programmes in India.
10. How much growth rate has been forecasted for FY20 during Economic Survey 2018-19?
1) 6.8%
2) 7%
3) 7.3%
4) 8.1%
Answer - 2) 7%
Explanation - The Survey forecasts a growth rate of 7 per cent for FY20, as compared to the growth
rate of 6.8 per cent in FY19.
11. Which two states are the front runners in India’s Sustainable Development Goals (SDGs)
Index with a score of 69?
1) Kerala and Himachal Pradesh
2) Meghalaya and Sikkim
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3) Rajasthan and Haryana

4) Odisha and Telanagan
Answer - 1) Kerala and Himachal Pradesh
Explanation - India’s SDG Index Score ranges between 42 and 69 for States and between 57 and 68 for
UTs.Kerala and Himachal Pradesh are the front runners with a score of 69 amongst states. Chandigarh
and Puducherry are the front runners with a score of 68 and 65 respectively among the UTs.
12. What was the External Debt of India at the end of December 2018?
1) $100.5 billion
2) $340.3 billion
3) $483.4 billion
4) $521.1 billion
Answer - 4) $521.1 billion
Explanation - India’s External Debt was $521.1 billion at end-December 2018, 1.6% lower than its
level at end-March 2018.
13. How many houses were completed under Pradhan Mantri Awas Yojana (PMAY) by 31st
March, 2019?
1) 1.32 crore
2) 1.42 crore
3) 1.54 crore
4) 1.57 crore
Answer - 3) 1.54 crore
Explanation - About 1.54 crore houses completed under Pradhan Mantri Awas Yojana (PMAY) as
against a target of 1 crore pucca houses with basic amenities by 31st March, 2019.
14. How many minimum wages are there in the present minimum wage system in India for a
variety of scheduled job categories?
1) 1,500
2) 1,915
3) 2,103
4) 2,506
Answer - 2) 1,915
Explanation - Present minimum wage system in India has 1,915 minimum wages for a variety of
scheduled job categories across states. Survey recommends a well-designed minimum wage system as
an effective tool for protecting workers and improving poverty.
15. Which of the following has been proposed by the survey under the Ministry of Labour &
Employment for regular notifications on minimum wages?
1) Wage platform of India
2) National Wage platform
3) National Wage dashboard
4) National level dashboard
Answer - 3) National level dashboard
Explanation - ‘National level dashboard’ under the Ministry of Labour & Employment for regular
notifications on minimum wages, proposed by the Survey.
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Union Budget 2019-20 & Economic Survey 2018-19 Q&A

Union Budget 2019-20 Q&A

5. How much is budgeted towards the total expenditure for 2019-20 ?

32. What is the Defence budget for 2019-20?

38. How many villages are presently open defecation free?

Economic Survey 2018-19 – Q&A

2. Who has presented the Economic Survey 2018-19?

5. Which firms are considered as dwarf as per the Central Government?

7. At which position, India ranks globally in wind power?

3) Rajasthan and Haryana

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