Click Here To Join Telegram Channel or just search @rha4141
100 Imp. Question of Union Budget 2023-24
For all Banking MAINS Examinations
1. The Union Finance Minister Nirmala Sitharaman has presented the
Union Budget 2023-24. It is the ___ Union Budget of India.
Sol. Union budget 2023-24 is the 75th Union Budget of India. The Union
Budget is the annual financial report of India, which deals with the expected
income and expenditure of the economy in the upcoming fiscal year. The first
union budget of independent India was presented on 26 November 1947
2. How many priorities are emphasised in the Union Budget for 2023–24?
Sol. The Budget adopts the following seven priorities. They complement each
other and act as the ‘Saptarishi’ guiding us through the Amrit Kaal.
1. Inclusive Development
2. Reaching Last Mile
3. Infrastructure Investment
4. Unleashing Potential
5. Green Growth
6. Youth Power
7. Financial Sector
3. The Union Finance Minister Nirmala Sitharaman has presented the
Union Budget 2023-24. She presented the Union Budget for the ______ time
in a row.
Sol. Union Finance Minister Nirmala Sitharaman is presenting the Union
Budget 2023 for the 5th time in a row.
4. Who has presented the first Union Budget of independent India?
Sol. The first union budget of independent India was presented by R. K.
Shanmukham Chetty on 26 November 1947. Total revenues stood at Rs
171.15 crore, and the fiscal deficit was Rs 24.59 crore.
Click Here To Join Telegram Channel or just search @rha4141
,Click Here To Join Telegram Channel or just search @rha4141
5. How much amount was allocated in the Union Budget 2023–2024 for
agriculture and farmer welfare?
Sol. In the union budget 2023-24, Rs 1.25 trillion was allocated to the
Agriculture & Farmers welfare.
6. Finance Minister Nirmala Sitharaman outlined seven priorities in the
Union Budget 2023–2024, calling it _________, that will guide India's vision
during Amrit Kaal.
Sol. ‘Saptarishi’ guiding us through the Amrit Kaal.
1. Inclusive Development
2. Reaching Last Mile
3. Infrastructure Investment
4. Unleashing Potential
5. Green Growth
6. Youth Power
7. Financial Sector
7. What is the theme of the Union Budget 2023-24?
Sol. With the theme of 'Vasudhaiva Kutumbakam', we are steering an
ambitious, people-centric agenda to address global challenges, and to facilitate
sustainable economic development.
8. What is the current year’s economic growth estimated in the Union
Budget 2023-24?
Sol. Finance Minister Sitharaman announced that the economic growth in the
current year is estimated to be at 7 per cent.
9. How much amount was allocated for the Railway Sector in the Union
Budget 2023-24, that is the highest ever outlay?
Sol. Capital outlay of Rs. 2.40 lakh crore has been provided for the Railways,
which is the highest ever outlay and about nine times the outlay made in
2013-14.
Click Here To Join Telegram Channel or just search @rha4141
,Click Here To Join Telegram Channel or just search @rha4141
10. What is the rate of tax for Income tax slab between the income of Rs 6
Lakh to Rs 9 Lakh for assessment year 2023-24?
Sol. 10% is the rate of tax for Income tax slab between the income of Rs 6
Lakh to Rs 9 Lakh for assessment year 2023-24.
11. What is the total expenditure in the Union Budget 2023-24?
Sol. The fiscal policy statement highlighted the total expenditure is to be Rs.
45.03 lakh crore in 2023-24; increase of 7.5% over 2022-23.
12. How many new nursing colleges is set to be established in 2023-2024?
Sol. To promote healthcare, a promise to establish 157 new nursing colleges
has been made.
13. How much amount was allocated in the Union Budget 2023–2024 for
Eklavya Model Residential Schools?
Sol. Rs 5,943 crore was allocated in the Union Budget 2023–2024 for Eklavya
Model Residential Schools.
14. The Union Government of India has announced the increment of
capital investment outlay in the third year by 33 per cent to __________.
Sol. Finance Minister Nirmala Sitharaman has announced the increment of
capital investment outlay in the third year by 33 per cent to Rs 10 lakh crore,
which will be 3.3 per cent of GDP.
15. What percentage of GDP is the fiscal deficit for Fiscal Year 2023–2024
expected to be?
Sol. Fiscal deficit for Fiscal Year 2024 is projected at 5.9 per cent of GDP.
16. Which Identity Card will be used as the common identifier for all
digital systems of specified government agencies to bring Ease of Doing
Business?
Sol. Permanent Account Number (PAN) will be used as the common identifier
for all digital systems of specified government agencies to bring in Ease of
Doing Business.
Click Here To Join Telegram Channel or just search @rha4141
, Click Here To Join Telegram Channel or just search @rha4141
17. Under which article of the Indian Constitution, the Union Budget of a
year is referred to as the Annual Financial Statement?
Sol. Under Article 112 of the Constitution, a statement of estimated receipts
and expenditure of the Government of India has to be laid before Parliament
in respect of every financial year, which runs from 1st April to 31st March.
This statement titled “Annual Financial Statement” is the main Budget
document.
18. Which year is the target for the Green Hydrogen Mission's annual
production of 5 MMT?
Sol. Annual production of 5 MMT under Green Hydrogen Mission to be
targeted by 2030 to facilitate transition of the economy to low carbon
intensity and to reduce dependence on fossil fuel imports.
19. What is the new sub-scheme introduced to further enable activities of
fishermen, fish vendors, and micro & small enterprises, improve value
chain efficiencies?
Sol. A new sub-scheme of PM Matsya Sampada Yojana with targeted
investment of Rs 6,000 crore to be launched to further enable activities of
fishermen, fish vendors, and micro & small enterprises, improve value chain
efficiencies, and expand the market.
20. What is the total Outlay for Pradhan MantriAwas Yojana in the Union
Budget 2023-24?
Sol. Outlay for Pradhan MantriAwas Yojana is being enhanced by 66% to over
Rs. 79,000 crore.
21. An allocation of Rs 10,000 crore p.a. for urban infra development fund
has been made. Who will be in charge of managing the funding for urban
infrastructure development?
Sol. Urban infra-development funds will be managed by National Housing
Bank (NHB) and will be used by public agencies. An allocation of Rs 10,000
crore p.a. for urban infra development fund has been made.
Click Here To Join Telegram Channel or just search @rha4141
100 Imp. Question of Union Budget 2023-24
For all Banking MAINS Examinations
1. The Union Finance Minister Nirmala Sitharaman has presented the
Union Budget 2023-24. It is the ___ Union Budget of India.
Sol. Union budget 2023-24 is the 75th Union Budget of India. The Union
Budget is the annual financial report of India, which deals with the expected
income and expenditure of the economy in the upcoming fiscal year. The first
union budget of independent India was presented on 26 November 1947
2. How many priorities are emphasised in the Union Budget for 2023–24?
Sol. The Budget adopts the following seven priorities. They complement each
other and act as the ‘Saptarishi’ guiding us through the Amrit Kaal.
1. Inclusive Development
2. Reaching Last Mile
3. Infrastructure Investment
4. Unleashing Potential
5. Green Growth
6. Youth Power
7. Financial Sector
3. The Union Finance Minister Nirmala Sitharaman has presented the
Union Budget 2023-24. She presented the Union Budget for the ______ time
in a row.
Sol. Union Finance Minister Nirmala Sitharaman is presenting the Union
Budget 2023 for the 5th time in a row.
4. Who has presented the first Union Budget of independent India?
Sol. The first union budget of independent India was presented by R. K.
Shanmukham Chetty on 26 November 1947. Total revenues stood at Rs
171.15 crore, and the fiscal deficit was Rs 24.59 crore.
Click Here To Join Telegram Channel or just search @rha4141
,Click Here To Join Telegram Channel or just search @rha4141
5. How much amount was allocated in the Union Budget 2023–2024 for
agriculture and farmer welfare?
Sol. In the union budget 2023-24, Rs 1.25 trillion was allocated to the
Agriculture & Farmers welfare.
6. Finance Minister Nirmala Sitharaman outlined seven priorities in the
Union Budget 2023–2024, calling it _________, that will guide India's vision
during Amrit Kaal.
Sol. ‘Saptarishi’ guiding us through the Amrit Kaal.
1. Inclusive Development
2. Reaching Last Mile
3. Infrastructure Investment
4. Unleashing Potential
5. Green Growth
6. Youth Power
7. Financial Sector
7. What is the theme of the Union Budget 2023-24?
Sol. With the theme of 'Vasudhaiva Kutumbakam', we are steering an
ambitious, people-centric agenda to address global challenges, and to facilitate
sustainable economic development.
8. What is the current year’s economic growth estimated in the Union
Budget 2023-24?
Sol. Finance Minister Sitharaman announced that the economic growth in the
current year is estimated to be at 7 per cent.
9. How much amount was allocated for the Railway Sector in the Union
Budget 2023-24, that is the highest ever outlay?
Sol. Capital outlay of Rs. 2.40 lakh crore has been provided for the Railways,
which is the highest ever outlay and about nine times the outlay made in
2013-14.
Click Here To Join Telegram Channel or just search @rha4141
,Click Here To Join Telegram Channel or just search @rha4141
10. What is the rate of tax for Income tax slab between the income of Rs 6
Lakh to Rs 9 Lakh for assessment year 2023-24?
Sol. 10% is the rate of tax for Income tax slab between the income of Rs 6
Lakh to Rs 9 Lakh for assessment year 2023-24.
11. What is the total expenditure in the Union Budget 2023-24?
Sol. The fiscal policy statement highlighted the total expenditure is to be Rs.
45.03 lakh crore in 2023-24; increase of 7.5% over 2022-23.
12. How many new nursing colleges is set to be established in 2023-2024?
Sol. To promote healthcare, a promise to establish 157 new nursing colleges
has been made.
13. How much amount was allocated in the Union Budget 2023–2024 for
Eklavya Model Residential Schools?
Sol. Rs 5,943 crore was allocated in the Union Budget 2023–2024 for Eklavya
Model Residential Schools.
14. The Union Government of India has announced the increment of
capital investment outlay in the third year by 33 per cent to __________.
Sol. Finance Minister Nirmala Sitharaman has announced the increment of
capital investment outlay in the third year by 33 per cent to Rs 10 lakh crore,
which will be 3.3 per cent of GDP.
15. What percentage of GDP is the fiscal deficit for Fiscal Year 2023–2024
expected to be?
Sol. Fiscal deficit for Fiscal Year 2024 is projected at 5.9 per cent of GDP.
16. Which Identity Card will be used as the common identifier for all
digital systems of specified government agencies to bring Ease of Doing
Business?
Sol. Permanent Account Number (PAN) will be used as the common identifier
for all digital systems of specified government agencies to bring in Ease of
Doing Business.
Click Here To Join Telegram Channel or just search @rha4141
, Click Here To Join Telegram Channel or just search @rha4141
17. Under which article of the Indian Constitution, the Union Budget of a
year is referred to as the Annual Financial Statement?
Sol. Under Article 112 of the Constitution, a statement of estimated receipts
and expenditure of the Government of India has to be laid before Parliament
in respect of every financial year, which runs from 1st April to 31st March.
This statement titled “Annual Financial Statement” is the main Budget
document.
18. Which year is the target for the Green Hydrogen Mission's annual
production of 5 MMT?
Sol. Annual production of 5 MMT under Green Hydrogen Mission to be
targeted by 2030 to facilitate transition of the economy to low carbon
intensity and to reduce dependence on fossil fuel imports.
19. What is the new sub-scheme introduced to further enable activities of
fishermen, fish vendors, and micro & small enterprises, improve value
chain efficiencies?
Sol. A new sub-scheme of PM Matsya Sampada Yojana with targeted
investment of Rs 6,000 crore to be launched to further enable activities of
fishermen, fish vendors, and micro & small enterprises, improve value chain
efficiencies, and expand the market.
20. What is the total Outlay for Pradhan MantriAwas Yojana in the Union
Budget 2023-24?
Sol. Outlay for Pradhan MantriAwas Yojana is being enhanced by 66% to over
Rs. 79,000 crore.
21. An allocation of Rs 10,000 crore p.a. for urban infra development fund
has been made. Who will be in charge of managing the funding for urban
infrastructure development?
Sol. Urban infra-development funds will be managed by National Housing
Bank (NHB) and will be used by public agencies. An allocation of Rs 10,000
crore p.a. for urban infra development fund has been made.
Click Here To Join Telegram Channel or just search @rha4141
