Union Finance Minister Arun Jaitley presented the Union Budget for 2016-17 on 29 February 2016.

This was the third

consecutive budget of the NDA government led by Prime Minister Narendra Modi. Following are the important questions
coming out of the proposals coming out of this Budget.
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– What will be the new name for Department of Disinvestment as announced in the Union Budget for 2016-17? – Department of
Investment and Public Asset Management
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– What is the name given to a new Cess of 0.5% imposed on all taxable services introduced in the Union Budget 2016-17 for
helping country’s agriculture sector? –Krishi Kalyan Cess
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– How much fund for recapitalization of Public sector banks was announced in the Union Budget for 2016-17? – Rs. 25,000 crore
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– The Govt. has proposed to provide digital literacy for how many countrymen as announced in the Budget? – 6 crore
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– Union Finance Minister Arun Jaitley announced a unified market for agri produce in his Union Budget for 2016-17. Under it a pan-
India e-Platform for agri products will be launched after states amend APMC Act. This platform has been proposed to be launched
on which occasion? – Babasaheb Ambedkar’s birth anniversary
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– How much infrastructure cess (Infra Cess) on small cars was proposed in the Union Budget 2016-17? – 1%
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– The deduction limit under which section of the Income Tax Act was raised from Rs 2,000 to Rs 5,000 per annum in the Union
Budget 2016-17? – Section 87A (Under Section 87A, taxpayers first reduce Rs 2,000 from their total tax payable. This section
applies to those with total income of less than Rs 5 lakh)
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– How much tax relief was announced in the Union Budget 2016-17 for taxpayers who do not own a house and don’t get house rent
allowance from employers? – From Rs. 24,000 to Rs. 60,000
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– What important announcement pertaining to Aadhaar was done in the Union Budget 2016-17? – Aadhaar will be given a
statutory status (However, Aadhaar will not confer proof of domicile or citizenship)
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– What important announcement pertaining to PSU general insurance companies was announced in the Union Budget 2016-
17– These companies will be listed now
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– Which important announcement pertaining to fertilizer subsidy was announced in the Union Budget 2016-17– A pilot Direct
Benefit Transfer (DBT) scheme for fertilizer will be launched during 2016-17
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– What is the deadline for 100% village electrification as announced in the Union Budget 2016-17– 1 May 2018
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– What is level of fiscal deficit for 2016-17 as proposed in the budget? – 3.5% of GDP
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– What the proposed Current Account Deficit (CAD) is for 2016-17 as announced in the Union Budget for 2016-17? – 1.4% of GDP
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– How much fund was allocated for pulses production in the Union Budget 2016-17? –Rs. 500 crore
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– How much fund was allocated for the Accelerated Irrigation Benefits Programme (AIBP) in the Union Budget 2016-17? – Rs.
17,000 crore
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– How much fund was proposed for meeting initial cost of proving LPG connections for rural areas as announced in the Budget for
2016-17? – Rs. 2,000 crore (This scheme will continue for 5 years and will cover all BPL households)
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– How many airports of the country were declared in the unused and underused category for which Rs. 150 crore (each) will be
provided as announced in the Budget for 2016-17? – 160
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– 100% FDI in through Foreign Investment Promotion Board (FIPB) was announced in the Union Budget for 2016-17? – For
marketing of food produce manufactured and processed in India
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– What was the total allocation for agriculture and farmer welfare in the Union Budget 2016-17? –Rs. 35,984 crore
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– What was the total allocation for MGNREGA in the Union Budget 2016-17? –Rs. 38,500 crore (This was the highest ever amount
spend on MGNREGA in a year)
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– How much funds will be provided as aid to Gram Panchayats during 2016-17 as announced in the Union Budget 2016-17– 2.87
lakh crore
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– What is the total allocation on roads and highways for 2016-17 as announced in the Union Budget 2016-17– Rs. 97,000 crore