Top Questions – Union Budget 2017-18

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01 Feb, 2017

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Following is a collection of important questions emerging from the Union Budget 2017-18 that was presented by Union Finance Minister Arun Jaitley in the Lok Sabha on 1 February 2017.

GENERAL BUDGET

What are the two important facts associated with the Union Budget 2017-18? – This was the first budget where Union Budget and Rail Budget were merged and was the first budget in which the system of elaborating the planned and unplanned expenditures has been done away

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Finance Minister Arun Jaitley gave the term TEC India in his budget address and said TEC India is the agenda of this budget. TEC India stands for – Transform, Energise and Clean India

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What is the maximum cash donation any political party can receive from one source, as proposed in the Budget? – Rs. 2,000

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What is the pegged fiscal deficit for 2017-18 as proposed in Union Budget 2017-18? – 3.2% of GDP (The budget states that the government remains committed to achieving 3% in the next year)

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What is the total expenditure envisaged under Union Budget 2017-18? – Rs. 21,47,000 crore

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Which important announcement regarding Foreign Investment Promotion Board (FIPB) was made in the Budget? – FIPB will be abolished during 2017-18

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How much fund has been allocated for NABARD in the Union Budget 2017-18? – Rs. 40,000 crore

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Two new All India Institutes of Medical Sciences (AIIMS) will be established in which states, as announced in the Union Budget 2017-18? – Jharkhand and Gujarat

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What is the new tax rate in the income tax slab between Rs 2.5 lakh to Rs. 5 lakh, as proposed in the Union Budget 2017-18? – 5% (The existing tax rate for this slab was 10%)

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The tax rate for companies with an annual turnover up-to Rs. 50 crore has been brought down from 30% to – 20%

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How much surcharge on individuals earning an income between Rs. 50 lakh to Rs. 1 crore has been proposed in the Union Budget 2017-18? – 10% (The 10% surcharge on those earning an income above Rs. 1 crore has been retained)

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RAIL BUDGET

What is the total allocation for Indian Railways for 2017-18? – Rs. 1,31,000 crore

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The Union Government is in the process of completely eliminating unmanned level crossings by which year, as proposed in the Budget? – 2020

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How much fund has been earmarked for Railway Suraksha  Kosh (Railway Safety Fund), as announced in the Union Budget? – Rs. 1 lakh crore

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What announcement pertaining to service charges levied on rail tickets booked through the IRCTC website was made in the Union Budget? – The service charge has been withdrawn effective 1 April 2017

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What is the name of the new proposed facility to register all coach related complaints in Indian Railways as was announced in the Union Budget? – ‘Coach Mitra’

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(Photo Courtesy : Lok Sabha TV)

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