Budget 2019-2020 Quiz- Day 1
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The following quiz will have 5 MCQs. The questions are framed from Budget 2019-20. Questions may also be formed from the schemes that were mentioned the Budget 2019-2020.
This quiz is intended to introduce you to concepts and certain important facts relevant to UPSC IAS civil services preliminary examination 2019 and 2020. It would also help you in mains examination as you can quote facts of Budget, its schemes in Mains Examination where required. It is not a test of your knowledge. If you score less, please do not mind. Read again sources provided and try to remember better.
LBASNAA’s Budget 2019-20 QUIZ For Prelims 2019
The following Quiz is based on the Budget 2019-20. Solving these questions will help you retain both concepts and facts relevant to UPSC IAS civil services exam.
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Question 1 of 5
1. Question
Consider the following statements regarding Pradhan Mantri Kisan Samman Nidhi (PM-KISAN)
1.It would provide an annual income support of Rs.6000 to small land holding( cultivable land upto 2 hectares).
2.This scheme would include marginal as well as small farmers.
3.Kerala has most such farmers while Punjab has the least.Correct
Q 1.d Centre has announced an annual income support of Rs.6000 to small land holders(2 Hectares). Farmers who have less than 1 hectare of land are called marginal farmers and who have land between 1 hectare and 2 hectare are called small farmers. Centre allocated Rs.20,000 crore in the revised estimates for the current financial year 2019-19, and Rs.75000 crore for the next financial year 2019-20.
Kerala has 99.09% of such farmers while Punjab has only 33% share of such farmers.Incorrect
Q 1.d Centre has announced an annual income support of Rs.6000 to small land holders(2 Hectares). Farmers who have less than 1 hectare of land are called marginal farmers and who have land between 1 hectare and 2 hectare are called small farmers. Centre allocated Rs.20,000 crore in the revised estimates for the current financial year 2019-19, and Rs.75000 crore for the next financial year 2019-20.
Kerala has 99.09% of such farmers while Punjab has only 33% share of such farmers. -
Question 2 of 5
2. Question
Consider the following statements regarding Pradhan Mantri Shram-Yogi Mandhan
1. It is a pension yojana for the unorganized workers with a monthly income upto Rs. 15000.
2. This yojana will provide an assured monthly pension of Rs.3000 from the age of 65 years.
3. A sum of Rs.500 crore has been allocated for the scheme.
4. Minimum age to join this pension Yojana is 21 years.
Select the correct answer using the codes below.Correct
Q 2.a Pradhan Mantri Shram-Yogi Mandhan is a pension yojana for the unorganized workers with a monthly income upto Rs. 15000.
This pension yojana shall provide them an assured monthly pension of 3,000 from the age of 60 years. An unorganized sector worker joining pension yojana at the age of 29 years will have to contribute only Rs.100 per month till the age of 60 years. A worker joining the pension yojana at 18 years, will have to contribute as little as RS.55 per month only. The Government will deposit equal matching share in the pension account of the worker every month. A sum of Rs.500 crore has been allocated for the Scheme.Incorrect
Q 2.a Pradhan Mantri Shram-Yogi Mandhan is a pension yojana for the unorganized workers with a monthly income upto Rs. 15000.
This pension yojana shall provide them an assured monthly pension of 3,000 from the age of 60 years. An unorganized sector worker joining pension yojana at the age of 29 years will have to contribute only Rs.100 per month till the age of 60 years. A worker joining the pension yojana at 18 years, will have to contribute as little as RS.55 per month only. The Government will deposit equal matching share in the pension account of the worker every month. A sum of Rs.500 crore has been allocated for the Scheme. -
Question 3 of 5
3. Question
Renke Commission which was recently in news, was related to
Correct
Q 3.b The National Commission for Denotified, Nomadic and Semi-Nomadic Tribes (NCDNSNT) was setup under Balkrishna Sidram Renke, to study various developmental aspects of denotified and nomadic or semi-nomadic tribes in India.
It is a national commission setup under Ministry of Social Justice and Empowerment, Government of India.
It was recently mentioned in the budget 2019-20 speech of Finance Minister of India as NITI Aayog would see the recommendation of Renke Commission while dealing with the above mentioned communities.Incorrect
Q 3.b The National Commission for Denotified, Nomadic and Semi-Nomadic Tribes (NCDNSNT) was setup under Balkrishna Sidram Renke, to study various developmental aspects of denotified and nomadic or semi-nomadic tribes in India.
It is a national commission setup under Ministry of Social Justice and Empowerment, Government of India.
It was recently mentioned in the budget 2019-20 speech of Finance Minister of India as NITI Aayog would see the recommendation of Renke Commission while dealing with the above mentioned communities. -
Question 4 of 5
4. Question
Consider the following statements regarding proposed Tax Deduction at Source(TDS) threshold
1. TDS threshold on interest earned on banks as well as post office and mutual funds deposits is being raised from Rs.10,000 to Rs. 40,000.
2. TDS deduction of tax on rent has remained the same.
Select the correct answer using the codes below.Correct
Q 4.d The concept of TDS was introduced with an aim to collect tax from the very source of income. As per this concept, a person (deductor) who is liable to make payment of specified nature to any other person (deductee) shall deduct tax at source and remit the same into the account of the Central Government. The deductee from whose income tax has been deducted at source would be entitled to get credit of the amount so deducted on the basis of Form 26AS or TDS certificate issued by the deductor.(Income Tax Dept, GOI)
TDS threshold on interest earned on bank as well as post office deposits is being raised from Rs.10,000 to Rs. 40,000 but not on mutual funds.
Further, the TDS threshold for deduction of tax on rent is proposed to be increased from Rs. 1,80,000 to Rs. 2,40,000 for providing relief to small taxpayers. Hence statement 1 is correct and statement 2 is incorrect.
This will benefit small depositors and non-working spouses.Incorrect
Q 4.d The concept of TDS was introduced with an aim to collect tax from the very source of income. As per this concept, a person (deductor) who is liable to make payment of specified nature to any other person (deductee) shall deduct tax at source and remit the same into the account of the Central Government. The deductee from whose income tax has been deducted at source would be entitled to get credit of the amount so deducted on the basis of Form 26AS or TDS certificate issued by the deductor.(Income Tax Dept, GOI)
TDS threshold on interest earned on bank as well as post office deposits is being raised from Rs.10,000 to Rs. 40,000 but not on mutual funds.
Further, the TDS threshold for deduction of tax on rent is proposed to be increased from Rs. 1,80,000 to Rs. 2,40,000 for providing relief to small taxpayers. Hence statement 1 is correct and statement 2 is incorrect.
This will benefit small depositors and non-working spouses. -
Question 5 of 5
5. Question
Consider the following statements regarding Rashtriya Gokul Mission
1.It aims to conserve and develop indigenous breeds in a focused and scientific manner.
2. It is a focussed project under National Programme for Bovine Breeding and Dairy Development.
Select the correct answer using the codes below.Correct
Q 5. c Context:-Finance Minister provided for Rs.750 Crore for Rashtriya Gokul Mission in the Budget 2019-2020
“Rashtriya Gokul Mission” aims to conserve and develop indigenous breeds in a focused and scientific manner,
Rashtriya Gokul Mission is a focussed project under National Programme for Bovine Breeding and Dairy Development.Mission objectives to:
a) development and conservation of indigenous breeds
b) undertake breed improvement programme for indigenous cattle breeds so as to improve the genetic makeup and increase the stock;
c) enhance milk production and productivity;
d) upgrade nondescript cattle using elite indigenous breeds like Gir, Sahiwal, Rathi, Deoni, Tharparkar, Red Sindhi and
e) distribute disease free high genetic merit bulls for natural service.
Incorrect
Q 5. c Context:-Finance Minister provided for Rs.750 Crore for Rashtriya Gokul Mission in the Budget 2019-2020
“Rashtriya Gokul Mission” aims to conserve and develop indigenous breeds in a focused and scientific manner,
Rashtriya Gokul Mission is a focussed project under National Programme for Bovine Breeding and Dairy Development.Mission objectives to:
a) development and conservation of indigenous breeds
b) undertake breed improvement programme for indigenous cattle breeds so as to improve the genetic makeup and increase the stock;
c) enhance milk production and productivity;
d) upgrade nondescript cattle using elite indigenous breeds like Gir, Sahiwal, Rathi, Deoni, Tharparkar, Red Sindhi and
e) distribute disease free high genetic merit bulls for natural service.