Points to be covered… Agriculture Industries and MSMEs Social welfare Taxation Financials Disinvestment Fiscal Deficit Issues Questions

Agriculture PM Kisan Samman Nidhi 2% interest rate subvention for rescheduled crop loans, in case of natural calamity 2% Interest subvention for farmers pursuing activities of animal husbandry and fisheries Rashtriya Kamadhenu Aayog

Industries and MSMEs MSME Artificial Intelligence 2% interest subvention Public Procurement Norm increased to 25% All the CPSEs to be on GeM Artificial Intelligence DIPP to be renamed as Department for Promotion of Industries and Internal Trade

Social Welfare Pradhan Mantri Shramayogi Maandhan 1 lakh villages to be made digital villages in next five years 22nd AIIMS to be set up in Haryana UJJWALA Yojana

Tax changes Tax rebate for individual whose taxable income is up to ₹ 5 lakh Standard deduction increased to ₹ 50000 per year TDS threshold on interest earned on bank/post office increased to ₹ 40000 Rollover capital gains expanded from one house to 2nd house TDS threshold on rent to be raised to ₹ 2.4 lakh from ₹ 1.8 lakh per annum Verification and assessment of IT returns

Financials Disinvestment target of ₹ 90000 Cr for FY20 Fiscal Deficit revised to 3.4% Borrowings for FY20 has been set at ₹ 7.6 lakh Cr Tax buoyancy for direct taxes fallen to 1.3 Majority of the debt is internal debt

Other announcements Rs 76800 Cr allocated for welfare of SCs/STs for FY20 Rs 7 lakh Cr allocated for food subsidy Rs 60000 Cr under MGNREG Scheme Single window clearance for filmmaking for the Indian filmmakers Provision under Cinematography Act to combat piracy

Issues/Concerns Revision in Fiscal Deficit Farm labourers neglected Defense allocation is lesser once accounted for depreciation Tax go GDP ratio Source of receipts? No provisions for recapitalisation

Question 1 Which of the following authority has been proposed in the Interim budget in order to enhance production and productivity of cows Rashtriya Gokul Aayog Rashtriya Kamadhenu Aayog National Commission on Cattle None of the above

Question 2 Consider the following statements about GeM (Government e-Marketplace) GeM was launched in 2016 Through this portal raw materials can be sourced only by the central government and not by the state government Choose the correct option Only 1 is true Only 2 is true Both are true Both are false

Question 3 Consider the following statements Pakyong airport is Sikkim’s first airport It is covered under UDAN Scheme Choose the correct option Only 1 is true Only 2 is true Both are true Both are false

Question 4 In recent times the term ‘glide path’ appearing in the newspaper refers to Minimum Support Price FDI in e-Commerce 5G Technology Fiscal Deficit

Question 5 Consider the following statements As per the interim budget, the FD of 3% will be achieved in FY21 For the FY19, the FD has been revised to 3.3% Choose the correct option Only 1 is true Only 2 is true Both are true Both are false

Question 6 Consider the following statements Stamp duty as a subject is present in a central list Stamp duty is payable under Section 3 of the Indian Stamp Act, 1899 Choose the correct option Only 1 is true Only 2 is true Both are true Both are false

Question 7 Consider the following statements about PM-KISAN Under this income support of ₹ 5000 per farmer is given each year All the farmers will be covered under the scheme Choose the correct option Only 1 is true Only 2 is true Both are true Both are false

Question 8 Consider the following statements The taxable income up to ₹ 5 lakh has been exempted in the recently concluded budget The disinvestment target for FY20 is ₹ 1 lakh Cr Choose the correct option Only 1 is true Only 2 is true Both are true Both are false

Question 9 Consider the following statements The tax buoyancy is ratio of growth rate of direct taxes by indirect taxes The tax buoyancy of the direct taxes for the present fiscal has fallen to 1.3 as per the BE Choose the correct option Only 1 is true Only 2 is true Both are true Both are false

Question 10 Arrange the following sources of central government receipts in decreasing order of their contribution Income tax Union Excise Customs GST Choose the correct option 1-2-3-4 1-4-3-2 4-1-2-3 4-1-3-2