20 Top questions from Union Budget 2014-15 – Presented by Arun Jaitley : We are here providing 20 questions pertaining to the Union Budget for 2014-15, which was presented by Finance Minister Arun Jaitley on 10 July 2014 in Lok Sabha. We reckon these questions would prove important for upcoming competitive exams. So just go through these and be more confident about Union Budget. We would soon come up with some more questions.
20 Top questions from Union Budget
- What is the proposed name of an integrated Ganga Development Project for which Rs. 2037 crore were allocated in the Union Budget 2014-15? – “Namami Ganga”
- What is the proposed name of a new 24X7 channel for northeast region that was announced in the Union Budget 2014-15? – “Arun Prabha”
- Rs. 4200 crore were set for an ambitious Jal Marg Vikas Project on river Ganga in the Union Budget of 2014-15. This project would be established between which two places on Ganga covering a distance of 1620 km? – Allahabad (UP) and Haldia (West Bengal)
- What is the name given to a dedicated TV channel for farmers that was announced in the Union Budget for 2014-15 and Rs. 100 crore was set aside for its establishment? – Kisan Television (Kisan TV)
- The fiscal deficit target for year 2015 (2014-15) has been retained at the level announced by former Finance Minister P.Chidambaram in his interim budget. What is this level? – 4.1% of GDP (The fiscal deficit which had touched a high of 5.7% in 2011-12, was brought down to 4.8% in 2012-13 and further to 4.5% in 2013-14)
- What is the targeted fiscal deficit for 2016 (year 2015-16) as announced in the Union Budget 2014-15? – 3.6% of GDP
- What is the targeted fiscal deficit for 2017 (year 2016-17) as announced in the Union Budget 2014-15? – 3.0% of GDP
- How much foreign direct investment (FDI) in country’s defence sector was proposed in the Union Budget 2014-15 presented on 10 July 2014? – 49%
- Investments under the most-important Section 80-C has been increased from Rs. 1 lakh to – Rs. 1.5 lakh (This means that the individuals would be able to invest upto Rs. 1.5 lakh under various heads available under Section 80-C)
- The upper limit for savings in the Public Provident Fund (PPF) was raised to Rs. 1.5 lakh in the Union Budget 2014-15 presented on 10 July 2014. What was the upper limit for investment in PPF till now? – Rs. 1 lakh
- The income tax exemption limit for individuals was raised from Rs. 2 lakh to – Rs. 2.5 lakh (It was raised to Rs. 3 lakh for senior citizens)
- The Crisis Management Center for Women (CMCW), that was proposed in the Union Budget 2014-15, would be established at? – Delhi
- How much fund was set aside for the proposed National Rural Internet and Technology Mission (NRITM)? – Rs. 500 crore
- How much fund was allocated for creating smart cities in the Union Budget 2014-15 presented on 10 July 2014? – Rs. 7,060 crore
- The foreign direct investment (FDI) in insurance sector was increased from present 26% to what figure in the Union Budget 2014-15 presented on 10 July 2014? – 49%
- What is the corpus size of the venture capital for small and medium enterprises (SMEs), which was proposed in the Union Budget 2014-15? – Rs. 10,000 crore
- What special feature has been proposed for currency notes in the Union Budget 2014-15 presented on 10 July 2014? – These currency notes will now also integrate Braille-features to benefit the visually-disabled people
- 5 new Indian Institutes of Management (IIMs) have been proposed to be established in which 5 states of the country? – Himachal Pradesh, Punjab, Bihar, Odisha and Maharashtra.
- Complete revamp of Indian Repository Receipts (IRR) was proposed in the Union Budget 2014-15. What is the new name proposed for IRR in the budget? – Bharat Respository Receipts (BRR)
- The National Industrial Corridor (NIC) that was proposed to be established in the Union Budget of 2014-15, will have its headquarters at which city? – Pune
