Important Questions On Union Budget 2016-2017

Union Budget for every Financial Year will be present on the last day of February. Accordingly, the Union Budget for the year 2016 – 2017 was presented on 29th Feb 2016. In this article we are serving our best with the important questions on the Union Budget that might be asked in the upcoming competitive examinations.

1. The Union Budget for 2016 – 2017 was presented by – Union Finance Minister Mr. Arun Jaitley.
2. What is the amount allotted for the New Employee Provident Fund Scheme? – Rs. 1,000 Crore.
3. What is the tax percentage imposed on jewelry – 1% (except silver).
4. What is the percentage of high capacity tax for sport utility vehicle – 4%.
5. What is the percentage rise in excise duty of tobacco products other than beedis – 5% (from 10% to 15%).
6. What is the amount of fund allocated for the recapitalization of Public Sector Banks? – Rs. 25,000 Crores.
7. What percentage of Fiscal deficit for 2016 – 2017 announced in Union Budget? – 3.5% Gross Domestic Product(GDP).
8. What is the amount allocated for for Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) for the year 2016 – 2017? – Rs. 38,500 crore.
9. What is the total number of urban clusters to be set up under Shyama Prasad Mukherji Rurban Mission Scheme – 300 Clusters.
10. What is the amount under new health protection scheme for health cover per family? – Rs. 1 lakh.
11. What is the amount allocated for Nuclear Power Generations? – Rs. 3000 Crores.
12. What is the number of Navodhaya Vidhyalayas to be established to provide good quality education? – 62.
13. What is the new name for the Department of Disinvestment? – Department of Investment and Public Asset Management (DIPAM).
14. What is the percentage of FDI for marketing of food products produced and marketed in India? – 100%.
15. What is the amount allocated in budget for the Indian Roadways? – Rs. 27,000 Crores.

16. What is the percentage of Krishi Kalyan tax to be levied on all the taxable services? – 0.5%.
17. What is the targeted deadline for 100% electrification of all villages in India? – 1st May, 2018.
18. According to the Union budget Service tax exempted for house construction area? – less than 60 sq.m.
19. What is the amount allocated under Swacch Bharat Abhiyan? – Rs. 9,500 Crores.
20. What is the amount under additional healthcare cover for Senior citizens? – Rs 30,000.
21. What is the objective of Prime Minister Kaushal Vikas Yojna said by Finance Minister Arun Jaitley?- to skill 1 crore youth in the next 3 years.
22. What is the total area of land to be brought under irrigation? – 28.5 lakh heactares.
23. What is the total area of land to be brought under organic farming? – 5 lakh acres.
24. What is the amount allocated for the production of pulses? – Rs. 500 Crores.
25. Which insurance company to be listed in the stock exchange? – General Insurance company.

Hope this helps you in the upcoming examinations.

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