20 Top Questions from Union Budget 2013-14

3
28 February 2013 by Ravindra Agnihotri

1) What is the fiscal deficit for 2012-13 (FY 2013) as announced in the Union Budget 2013-14? 5.2%

of the

Gross Domestic Product (GDP), which is lower than the targeted fiscal deficit of 5.3% of GDP 2) What is the fiscal deficit for 2013-14 (FY 2014) as announced in the Union Budget 2013-14? 4.8% of the GDP 3) What is the total outlay for planned expenditure, as announced in the Union Budget of 2013-14? Rs. 16,65,297 crore 4) What is the total outlay for budget expenditure, as announced in the Union Budget of 2013-14? Rs. 16,65,297 crore 5) What is the total outlay for non-planned expenditure, as announced in the Union Budget of 2013-14? Rs 11,09,975 crore (for 2013-14)
6) Finance Minister P. Chidambaram didnt announce any changes in the tax rates for 2013 -14, which were much anticipated. He however, announced a tax credit for people earning between Rs. 2 lakh to Rs. 5 lakh. How much tax credit would be given to people in this income bracket? Rs.

2000 earning an Fund

7) A 10% additional tax surcharge has been imposed on super-rich people of the country, by which their effective tax rate has gone up from the present 30.9% to 33.9%. What is the definition of these super-rich? People

income over Rs. 1 crore per annum

8) What is the name of a special fund of Rs. 1,000 crore announced in the Union Budget 2013-14, which has been created to empower women and provide safety to them in wake of the Delhi gangrape incident? Nirbhaya 9) How much TDS (tax deduction at source) was imposed on sale of immovable property in the Union Budget 2013-14?

1% (This is not applicable to agricultural land)

10) It was announced in the Union Budget 2013-14, that all public sector banks would have ATMs at all of their branches. What is the deadline for implementation of this announcement? 31

March, 2014 2.36

11) What was the total outlay for defence forces for 2013-14, as announced in the Union Budget 2013-14? Rs.

lakh crore (including Rs. 86,721 crore for capital expenditure)

12) It was announced in the Union Budget 2013-14 that every town with a specific population will have an LIC branch. What was the announced specification of such towns? Towns

with population of over ten

thousand (10,000+)
13) Announcement of Indias first all-woman bank was made in the Union Budget 2013-14. How much initial capital would be provided by the Union Govt. to open this bank? Rs.

1,000 crore (The proposed bank will lend mostly to women

and women run businesses, support women SHGs (self help groups) and womens livelihood)

14) Establishment of two new ports has been announced in the Union Budget 2013-14. In which states these new ports are to be established? West

Bengal and Andhra Pradesh (Jharkhand) and

15) An Indian Institute of Agri-Biotechnology (IIAB) was announced in the Union Budget 2013-14. In which city this proposed institute will be established? Ranchi 16) Finance Minister mentioned name of two countries in his budget announcement, which are the only major countries in the world to have grown at a faster rate than India during the last year. Which are these two countries? China

Indonesia
17) Excise duty on sports utility vehicles (SUVs) was increased to 30% in the Union Budget 2013-14. What was the present excise duty on SUVs? 27% 18) Two changes were made in the Rajiv Gandhi Equity Savings Scheme (RGESS) in the Union Budget 2013-14. What are these changes? a)

Benefit for 3 years would now be available for investors in RGESS instead of the present 1 year b) Limit for investing in this scheme has been raised from earlier Rs. 10 lakh to Rs. 12 lakh (i.e., now an investor with annual income of Rs. 12 lakh can also take benefit of this scheme, which is for first time investors in equity and mutual funds) 19) How much import duty has been imposed on imported luxury cars in the Union Budget 2013-14? 100% (This duty
was presently at 75%) 20) Duty free limits on gold were increased in the Union Budget 2013-14. What are the new limits now? Women

Travellers Rs. 1 lakh and men travellers Rs. 50 thousand(i.e., no import duty would be
levied till these limits for respective traveller classes)