5 6179209671123927361

Union Budget 2020
UPSC EPFO
& Prelims 2020
Most Expected
Question
Question
Consider the following statements about three themes in
Budget 2020.
1. Aspirational India
2. Sustainable development
3. Caring India
Select incorrect one:
a) Only 1
b) Only 1 & 3
c) Both 2 & 3
d) None
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Question
Consider the following statements about Budget 2020. It proposes a new income
tax structure for individuals ?
1. ₹5 lakh-₹7.5 lakh will attract 10% tax,
2. ₹7.5 lakh-₹10 lakh 15%,
3. ₹10 lakh-₹12.5 lakh 20%,
4. ₹12.5 lakh-₹15 lakh 25%
5. above ₹15 lakh 30%.
Select correct one:
a) Only 1 & 5
b) Only 1, 2, 3, & 4
c) Only 1, 3, & 4
d) All of the Above
Income Tax Slashed, Tax Slabs
Restructured
Answer- D
Taxation Taxation
It proposes a new income tax structure for individuals willing to forego
exemptions and deductions.
Under the new structure, income of
•₹5 lakh-₹7.5 lakh will attract 10% tax,
•₹7.5 lakh-₹10 lakh 15%,
•₹10 lakh-₹12.5 lakh 20%,
• ₹12.5 lakh-₹15 lakh 25% and
•above ₹15 lakh 30%.
Income up to ₹5 lakh will remain exempt from tax
Question
The year 2019 marked the golden jubilee of which event, as per
Economic Survey 2020?
a) Bank Capitalisation
b) Bank Nationalisation
c) PSU Capitalisation
d) PSU Nationalisation
Answer- a
Bank Nationalisation
The year 2019 marked the golden jubilee year of Bank Nationalisation.
The Survey points out that the growth of Indian Banking Sector has not been
proportionate with the overall growth of the economy.
Question
Consider the following statements about about tax In Budget 2020?
• Section 80D such as on life insurance premium, public provident
fund contribution
• Section 80C on medical insurance premium will not be available to
those who opt for the new scheme
Select correct one:
a) Only I
b) Only II
c) Both
d) None
Answer- D
• Section 80C such as on life insurance premium, public provident

fund contribution
• Section 80D on medical insurance premium will not be available to
those who opt for the new scheme
Question
Consider the following statements about about Infrastructure
In Budget 2020?
1. Minstry of Finance to set up ‘Kisan Rail’ through PPP
2. Delhi-Mumbai Expressway to be completed by 2022
Select correct one:
a) Only I
b) Only II
c) Both
d) None
Answer- D
Railways to set up ‘Kisan Rail’ through PPP.

More Tejas-type trains to connect major tourist destinations.
Delhi-Mumbai Expressway to be completed by 2023
Question
Consider the following statements about Budget 2020?
1. India now the 6th largest economy of the world.
2. 7.4% average growth clocked during 2014-19 with inflation
averaging around 4.5%.
3. 371 million people raised out of poverty during 2010-19.
Select incorrect one:
a) Only 1
b) Only 1 & 3
c) Both 2 & 3
d) None
Answer- B
• India now the fifth largest economy of the world.

• 7.4% average growth clocked during 2014-19 with inflation averaging
around 4.5%.
• 271 million people raised out of poverty during 2006-16.
Question
Consider the following statements about Budget 2020?
1. Highest ever number of people in the productive age group (15-45 years)
in India
2. Deposit Insurance Coverage to increase from Rs.1 lakh to Rs.5 Lakh per
depositor.
3. 200 lakh tonnes fish production targeted by 2024-25.
Select correct one:
a) Only 2
b) Only 1 & 3
c) Both 2 & 3
d) None
Answer- A
1. Highest ever number of people in the productive age group (15-65 years) in
India
2. Deposit Insurance Coverage to increase from Rs.1 lakh to Rs.5 Lakh per
depositor.
3. 200 lakh tonnes fish production targeted by 2022-23.
Question
Consider the following statements about Krishi Udaan in Budget 2020?
1. Krishi Udaan to be launched by the Ministry of Civil Aviation
2. Both international and national routes to be covered
3. North-East and tribal districts to realize Improved value of agri-
products
Select correct one:
a) Only 2
b) Only 1 & 3
c) Both 2 & 3
d) All of the Above
Answer- D
1. Krishi Udaan to be launched by the Ministry of Civil Aviation

2. Both international and national routes to be covered
3. North-East and tribal districts to realize Improved value of agri-products
Question
Consider the following statements about about Livestock in Budget 2020?
1. Doubling of milk processing capacity to 108 million MT from 53.5 million MT
by 2022
2. Artificial insemination to be increased to 70% from the present 10%.
3. Foot and Mouth Disease in cattle to be eliminated by 2025.
Select correct one:
a) Only 3
b) Only 1 & 3
c) Both 2 & 3
d) All of the Above
Answer- A
1. Doubling of milk processing capacity to 108 million MT from 53.5 million

MT by 2025
2. Artificial insemination to be increased to 70% from the
present 30%.
3. Foot and Mouth Disease in cattle to be eliminated by 2025.
Question
Which of the following statement is correct about health in Budget?
1. Jan Aushadhi Kendra Scheme to offer 2000 medicines in all districts
by 2022.
2. TB Harega Desh Jeetega campaign launched commitment to end
Tuberculosis by 2023.
Select correct one:
a) Only 1
b) Only 2
c) Both
d) None
Answer - D
1. Jan Aushadhi Kendra Scheme to offer 2000 medicines in all districts by
2024.
2. TB Harega Desh Jeetega campaign launched commitment to end
Tuberculosis by 2025.
Question
“IPO” stands for——
a) Initial private offering

b) Initial public offering
c) Initiated public order
d) Initiated private order
Answer- B
Initial public offering - Initial public offering or stock market launch
is a type of public offering in which shares of a company are sold to
institutional investors and usually also retail investors.
Question
Which of the following statement is correct about education & Skill
development in Budget?
1. Rs. 3000 crore for education sector in 2020-21.
2. Rs. 99,300 crore for skill development in 2020-21.
Select correct one:
a) Only 1
b) Only 2
c) Both
d) None
Budget 2020 – Education Sector
Announcements
• FM in her budget speech said that India is all
set to have largest working age population in
the world by 2030.
• Total outlay of Rs 99,300 crore and Rs 3,000
crore for skill development announced by FM.
• Study in India- new exam 'Ind-SAT' will be

introduced for Asian and African countries
make India a higher education study
destination
Answer -D
1. Rs. 99,300 crore for education sector in 2020-21.
2. Rs. 3000 crore for skill development in 2020-21.
Question
Which term was used to describe the economics of a plate of food in India in
the Economic Survey 2019-20?
a) Thalinomics
b) Platonomics
c) Hungronomics
d) Nutronomics
Answer- A .Thalinomics
The Economic Survey 2020 used the term ‘Thalinomics’ to describe

economics of a plate of food in India.
It throws light upon the price paid by a person for a Thali in India
anywhere.
Question
How many new jobs were created in India between 2011-12 and
2017-18 as per Economic Survey 2019-20?
a) 6.1 crore
b) 6.2 crore
c) 6.3 crore
d) 6.4 crore
Answer- C- 6.3 crore
According to the Economic Survey 2019-20, about 2.62 crore new jobs were
created between 2011-12 and 2017-18.
About 1.21 crore jobs were created in rural areas, while 1.39 crore jobs were
created in urban areas.
Question
Which of the following statement is correct about taxes are imposed by
state governments?
1) Toll Tax
2) Tax on Agricultural Income
3) Business Tax
Select your correct answer
a) Only 1
b) Only 2 and 3
c) Only 1 and 3
d) All of the Above
Answer- D
Question
What is the theme of Economic Survey 2019-20?
a) Sustainable Development
b) Wealth Creation
c) Agriculture Development
d) Economy Development
Answer – B- Wealth Creation
The overarching theme of Economic Survey 2019-20 is wealth

creation and the policy choices that enable the same.
Question
What is the projected growth rate for agriculture in Fiscal
Year 2019-20?
a)2.2 percent
b)2.8 percent
c) 2.4 percent
d)2.6 percent
2.8 percent
The Economic Survey 2020 has projected agriculture and its allied sectors to grow at 2.8 percent in
fiscal 2019-20.
Question
How much India needs to spend on infrastructure to become
USD 5 trillion economy by 2024-25?
a) 4.4 trillion
b) 0.4 trillion
c) 2.4 trillion
d) 1.4 trillion
1.4 trillion
Economic Survey 2019-20 said that India needs to spend about USD 1.4 trillion on infrastructure
to become a USD 5 trillion economy by 2024-25.
The report highlighted that 100 more airports are to be made operational by 2023-24.
Question
The Economic Survey 2019-20 has projected how much GDP Growth for fiscal
year 2020-21?
a) 6-7 percent
b) 5-6.5 percent
c) 5-7 percent
d) 6-6.5 percent
6-6.5 percent
The Economic Survey 2019-20 has projected the GDP Growth rate to be 6% - 6.5% in fiscal year 2020-
21.
Question
The Tribal museum would be set up in
a) Uttar Pradesh
b) Jharkhand
c) Odisha
d) Chhattisgarh
Jharkhand
Question
Which of the following campaign hs been launched by the Union Government to
tackle lifestyle disorders and non-communicable diseases (NCDs)?
a) Healthy India movement

b) Fit India movement
c) Strong India movement
d) Eat right movement
FIT India movement

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Union Budget 2020

• Section 80C such as on life insurance premium, public provident

Railways to set up ‘Kisan Rail’ through PPP.

• India now the fifth largest economy of the world.

1. Krishi Udaan to be launched by the Ministry of Civil Aviation

1. Doubling of milk processing capacity to 108 million MT from 53.5 million

a) Initial private offering

• Study in India- new exam 'Ind-SAT' will be

The Economic Survey 2020 used the term ‘Thalinomics’ to describe

The overarching theme of Economic Survey 2019-20 is wealth

a) Healthy India movement

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