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August 13, 2015

Expected Questions from Union Budget 2015-16 : Set 1

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Hi friends, I am Ramachandran. T. Here I am sharing some important questions on Union Budget 2015-16. I am planning to provide few more sets on this topic. At the end of these sets, I will provide you with the pdf version of the same. Happy Reading :)

What is the full form of MUDRA?
  • Micro Units Development and Refinance Agency (MUDRA)

What is the purpose of Mudra Bank ?
  • To develop entrepreneurs (priority on SC / ST )

Amount allocated for the MUDRA Bank is ?
  • 20,000 cr
What is Pradhan Mantri Suraksha Bima Yojana?
  • The Pradhan Mantri Suraksha Bima Yojana will offer an accidental death and full disability cover of Rs. 2 Lakh and for partial disability cover of Rs. 1 Lakh.
What is the Sum insured for Pradhan Mantri Suraksha Bima Yojana ?
  • Low-cost personal accidental cover
What is the Premium for Pradhan Mantri Suraksha Bima Yojana ?
  • The premium will be directly auto-debited by the bank from the subscribers' account (Premium Rs. 12 per year ).
What is Atal Pension Yojana ?
  • The government will give guaranteed pension of up to Rs 5,000 a month to subscribers under the proposed Atal Pension Yojana.
How much is the contribution as Premium for Atal Pension yojana from government side and is limted to what amount, Per year and for how many years will it pay to the acoount opened before 31st december 2015?
  • The schemes would give an minimum monthly pension of Rs 1,000, Rs 2,000, Rs 3,000, Rs 4,000 and Rs 5,000
What is Pradhan Mantri jeevan jyoti Bima Yojana ?
  • This plan covers both natural and accidental death risk. The maximum sum assured offered under this Govt Scheme is Rs 2 Lakhs. The premium will be Rs. 330 per year, or less than one rupee per day, for the age group 18-50. The scheme will be offered by Life Insurance Corporation (LIC of India).
What is the estimation for Senior citizen welfare fund in the union budget 2015-16 ?
  • 9,000 Cr
What amount of fund is proposed for National investment and infrastructure in the union budget proposed by Arun jaitley ?
  • 70,000 Cr
Tax free infrastructure Bond is introduced for ____________________.
  • Railways and Roads
What is SETU ? What is it's purpose ?
  • Self-Employment and Talent Utilization program ( SETU) mechanism at a budgetary amount of Rs 1000 crore to encourage cutting edge technology startups to convert their ideas into business. SETU will be initially housed in NITI Aayog
In the union budget 2015-16, Arun jaitley has planned to set up how many mega ultra power plants ?
  • 5 Ultra Power Project (4000 MW)
Which scheme has replaced Present gold deposit and gold metal loan scheme ?
  • Gold Monetisation Scheme will replace both the present Gold Deposit and Gold metal Loan Schemes
What is the amount allocated for Nirbhaya fund in the budget propsed for the year 2015-2016 ?
  • Nirbhaya fund to Rs 2,000 crore from Rs 1,000 crore. "The government is committed to safety and security of women, and another Rs.1,000 crore has been allocated to the Nirbhaya Fund,"
Total Expenditure estimated for the year 2015-16 is equal to Total receipts estimated for the same year? What's the total estimated amount.
  • 17,77,477 Cr
What is the difference between fiscal deficit and revenue deficit ?
  • The difference between total revenue and total expenditure of the government is termed as fiscal deficit. A mismatch in the expected revenue and expenditure can result in revenue deficit. Revenue deficit arises when the government's actual net receipts is lower than the projected receipts.
Fiscal deficit is always calculated as the % of a quantity, What is it ?
  • If the Government earns Rs. 100 crores in a year, but spends 120 crores, then the Fiscal Deficit of the country is 20 crores.
GST is to be implemented from which year ?
  • 1st April 2016
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