UNION BUDGET FY

2025-26
BUDGET MCQs
 Railways MROs to benefit similar to the aircraft and ships MROs in terms of
import of repair items.
 Time limit extended for export of such items from 6 months to one year and
made further extendable by one year.
 Marine products:
 BCD reduced from 30% to 5% on Frozen Fish Paste (Surimi) for manufacture
and export of its analogue products.
 BCD reduced from 15% to 5% on fish hydrolysate for manufacture of fish and
shrimp feeds.

 Time limit for Provisional Assessment: For finalising the provisional assessment,
time-limit of two years fixed, extendable by a year.
 Voluntary Compliance:A new provision introduced to enable importers or
exporters, after clearance of goods, to voluntarily declare material facts and pay
duty with interest but without penalty.

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 Fiscal Deficit: ₹1,56,89,36 crore (4.4% of GDP)
 Revenue Deficit: ₹5,23,846 crore (1.5% of GDP)
 Effective Revenue Deficit: ₹96,654 crore (0.3% of GDP)
 Primary Deficit: ₹2,92,598 crore (0.8% of GDP)

 Deficit Financing
 Market Borrowings: ₹11,53,834 crore
 Securities against Small Savings: ₹343,382 crore
 External Debt: ₹23,490 crore

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 Major Expenditures
 Interest Payments: ₹12,76,338 crore
 Defence: ₹4,91,732 crore
 Pension: ₹2,76,618 crore

 Subsidies:

 Food: ₹203,420 crore

 Fertilizer: ₹167,887 crore
 Petroleum: ₹12,100 crore

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 Rural Development: ₹2,66,817 crore
 Education: ₹1,28,650 crore
 Healthcare: ₹98,311 crore
 Urban Development: ₹96,777 crore
 Transport Infrastructure: ₹5,48,649 crore

 PM-KISAN: ₹63,500 crore

 Mahatma Gandhi NREGA: ₹86,000 crore
 PM Awas Yojana (Grameen & Urban): ₹ 74,626 crore
 PM Schools for Rising India (PM SHRI): ₹7,500 crore
 Samagra Shiksha: ₹41,250 crore
 Skill Development & Apprenticeships: ₹13,560 crore

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 Jal Jeevan Mission: ₹67,000 crore
 PM Gram Sadak Yojana: ₹19,000 crore
 Production Linked Incentive (PLI) Schemes: ₹2,445
crore
 Ayushman Bharat – PMJAY: ₹9,406 crore
 POSHAN 2.0 (Nutrition Mission): ₹21,960 crore
 Social Assistance Programs: ₹9,652 crore

 Top Ministries by Budget Allocation

 Ministry of Finance – ₹19,39,001.26 crore
 Ministry of Defence – ₹6,81,210.27 crore
 Ministry of Consumer Affairs, Food & Public
Distribution – ₹2,15,767.09 crore
 Ministry of Railways – ₹2,55,445.18 crore
 Ministry of Road Transport & Highways –
₹2,87,333.16 crore

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 Ministry of Housing & Urban Affairs – ₹96,777.00 crore
 Ministry of Power – ₹21,847.00 crore
 Ministry of Ports, Shipping & Waterways – ₹3,470.58 crore
 Department of Space – ₹13,416.20 crore
 Ministry of Science & Technology – ₹38,613.32 crore
 Ministry of Electronics & IT – ₹26,026.25 croreMinistry of Education –
₹1,28,650.05 crore

 Ministry of Health & Family Welfare – ₹99,858.56 crore

 Ministry of Women & Child Development – ₹26,889.69 crore
 Ministry of Rural Development – ₹1,90,405.53 crore
 Ministry of Agriculture & Farmers Welfare – ₹1,37,756.55 crore
 Ministry of Commerce & Industry – ₹18,446.05 crore
 Ministry of Chemicals & Fertilizers – ₹1,61,965.21 crore
 Ministry of Home Affairs – ₹2,33,210.68 crore
 Ministry of Law & Justice – ₹5,850.37 crore
 Ministry of External Affairs – ₹20,516.61 crore

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Union Finance Minister stated that the total receipts other than borrowings and the total
expenditure are estimated at ₹ ______ lakh crore and ₹ ______ lakh crore respectively.

a) ₹ 34.96 , 50.65
b) ₹ 33.69 , 56.78
c) ₹ 24.96 , 40.65
d) ₹ 36.86 , 42.98

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Union Finance Minister stated that the total receipts other than borrowings and the total
expenditure are estimated at ₹ ______ lakh crore and ₹ ______ lakh crore respectively.

a) ₹ 34.96 , 50.65
b) ₹ 33.69 , 56.78
c) ₹ 24.96 , 40.65
d) ₹ 36.86 , 42.98

For FY 2025-26, the Union Finance Minister stated that the total receipts other than
borrowings and the total expenditure are estimated at ₹34.96 lakh crore and ₹50.65 lakh
crore respectively. The net tax receipts are estimated at ₹28.37 lakh crore.

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Prime Minister Dhan-Dhaanya Krishi Yojana - Developing Agri Districts

Programme to cover how many districts and likely to help 1.7 crore farmers ?

a) 150
b) 120
c) 100
d) 200

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Prime Minister Dhan-Dhaanya Krishi Yojana - Developing Agri Districts

Programme to cover how many districts and likely to help 1.7 crore farmers ?

a) 150
b) 120
c) 100
d) 200

BENEFITTING 1.7 CRORE FARMERS, ‘PRIME MINISTER DHAN-DHAANYA KRISHI

YOJANA’ TO COVER 100 LOW AGRICULTURAL PRODUCTIVITY DISTRICTS
Prime Minister Dhan-Dhaanya Krishi Yojana - Developing Agri Districts Programme to
cover 100 districts and likely to help 1.7 crore farmers.

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Which of the following is the largest source of government revenue as per

Budget 2025-26?
(a) Non-Debt Capital Receipts
(b) Income Tax
(c) Borrowings & Other Liabilities
(d) Union Excise Duties

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Which of the following is the largest source of government revenue as per

Budget 2025-26?
(a) Non-Debt Capital Receipts
(b) Income Tax
(c) Borrowings & Other Liabilities
(d) Union Excise Duties

 Borrowings & Other Liabilities account for 24% of the government’s revenue, which
is the largest source among all categories
 Non-Debt Capital Receipts contribute 1% to the government’s revenue.
 Customs Duty contributes 4% to the government’s revenue.
 Non-Tax Receipts contribute 9% to the government’s revenue.

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What percentage of revenue comes from Non-Debt Capital Receipts?

(a) 1%
(b) 2%
(c) 8%
(d) 9%

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What percentage of revenue comes from Non-Debt Capital Receipts?

(a) 1%
(b) 2%
(c) 8%
(d) 9%

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What is the total allocation for Centrally Sponsored Schemes as a percentage

of expenditure?
(a) 8%
(b) 18%
(c) 28%
(d) 12%

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What is the total allocation for Centrally Sponsored Schemes as a percentage

of expenditure?
(a) 8%
(b) 18%
(c) 28%
(d) 12%

Centrally Sponsored Schemes account for 8% of total expenditure.

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SHEETAL SHARMA MA’AM OFFICIAL
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Modified udan scheme to enhance regional connectivity to how many new

destinations?
a) 100
b) 120
c) 150
d) 180

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Modified udan scheme to enhance regional connectivity to how many new

destinations?
a) 100
b) 120
c) 150
d) 180

Modified udan scheme to enhance regional connectivity to 120 new destinations.

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Which of the following fund to be established for expeditious completion of

another 1 lakh stressed housing units.?
a) AIF
b) SWAMIH
c) RIDF
d) UIDF

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Which of the following fund to be established for expeditious completion of

another 1 lakh stressed housing units.?
a) AIF
b) SWAMIH
c) RIDF
d) UIDF

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An outlay of Rs 1.5 lakh crore was proposed for the how many years interest free
loans to states for capital expenditure and incentives for reforms?
a) 20
b) 30
c) 50
d) 70

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An outlay of Rs 1.5 lakh crore was proposed for the how many years interest free loans
to states for capital expenditure and incentives for reforms?
a) 20
b) 30
c) 50
d) 70

Infrastructure-related ministries will come up with a 3-year pipeline of projects in PPP mode.
An outlay of Rs 1.5 lakh crore was proposed for the 50-year interest free loans to states for
capital expenditure and incentives for reforms.
The second Asset Monetization Plan 2025-30 to plough back capital of Rs 10 lakh crore in new
projects.
The Jal Jeevan Mission was extended till 2028 with focus on the quality of infrastructure and
Operation & Maintenance of rural piped water supply schemes through “Jan Bhagidhari”.

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Jal Jeevan Mission to achieve 100 % coverage, the mission extended till which year?
a) 2028
b) 2030
c) 2032
d) 2035

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Jal Jeevan Mission to achieve 100 % coverage, the mission extended till which year?
a) 2028
b) 2030
c) 2032
d) 2035

To achieve 100 % coverage, the mission extended till 2028 with an enhanced total outlay
Maritime Development Fund with a corpus of ₹25,000 crore for long-term financing
with up to 49 % contribution by the government.

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Maritime Development Fund with a corpus of ₹25,000 crore for long-term financing
with up to how much % contribution by the government?
a) 21
b) 49
c) 74
d) 100

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Maritime Development Fund with a corpus of ₹25,000 crore for long-term financing
with up to how much % contribution by the government?
a) 21
b) 49
c) 74
d) 100

 Maritime Development Fund with a corpus of ₹25,000 crore for long-term financing
 with up to 49% contribution by the government.
 Regional connectivity to 120 new destinations and carry 4 crore passengers in the next
10 years.

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What is the total Finance Commission & Other Transfers as a percentage of

expenditure?
(a) 5%
(b) 8%
(c) 12%
(d) 18%

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What is the total Finance Commission & Other Transfers as a percentage of

expenditure?
(a) 5%
(b) 8%
(c) 12%
(d) 18%

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To promote investment in the infrastructure sector, Budget extends the date of

making investment in Sovereign Wealth Funds and Pension Funds by five more
years, to 31st March, _________.

a) 2028
b) 2029
c) 2030
d) 2032

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To promote investment in the infrastructure sector, Budget extends the date of
making investment in Sovereign Wealth Funds and Pension Funds by five more
years, to 31st March, _________.

a) 2028
b) 2029
c) 2030
d) 2032

To promote start-up ecosystem, period of incorporation has been extended for a

period of 5 years. To promote investment in the infrastructure sector, Budget extends
the date of making investment in Sovereign Wealth Funds and Pension Funds by five
more years, to 31st March, 2030.

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Which of the following going to be set up a ‘Partial Credit Enhancement Facility’

for corporate bonds for infrastructure?
a) NABARD
b) RBI
c) SIDBI
d) NaBFID

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Which of the following going to be set up a ‘Partial Credit Enhancement Facility’

for corporate bonds for infrastructure?
a) NABARD
b) RBI
c) SIDBI
d) NaBFID

 NaBFID to set up a ‘Partial Credit Enhancement Facility’ for corporate bonds for
infrastructure.
 Revamped Central KYC registry to be rolled out in 2025.
 ‘Grameen Credit Score’ framework to serve the credit needs of SHG members and
people in rural areas.

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According to FY 2025-26, FDI limit for which of the following sector will be
raised from 74 to 100 per cent?
a) Bank
b) Insurance
c) Defense
d) Healthcare

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According to FY 2025-26, FDI limit for which of the following sector will be
raised from 74 to 100 per cent?
a) Bank
b) Insurance
c) Defense
d) Healthcare

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Jan Vishwas Bill 2.0 is going to decriminalize how many provisions in various laws?
a) 50
b) 100
c) 150
d) 200

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Jan Vishwas Bill 2.0 is going to decriminalize how many provisions in various laws?
a) 50
b) 100
c) 150
d) 200

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What is the allocation for PM-KISAN scheme in the budget?

(a) ₹66,000 crore
(b) ₹84,534 crore
(c) ₹63,500 crore
(d) ₹78,730 crore

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What is the allocation for PM-KISAN scheme in the budget?
(a) ₹66,000 crore
(b) ₹84,534 crore
(c) ₹63,500 crore
(d) ₹78,730 crore

 PM-KISAN scheme has been allocated ₹63,500 crore .

 Mahatma Gandhi NREGA - ₹86,000 crore under Agriculture & Rural Development schemes.
 Transport Infrastructure - ₹5,48,649 crore.
 Jal Jeevan Mission - ₹67,000 crore in the budget.
 PM Awas Yojana (Grameen & Urban) - ₹74,626 crore.
 POSHAN 2.0 (Nutrition Mission) - ₹21,960 crore.
 PM Schools for Rising India (PM SHRI) ₹7,500 crore.
 Food subsidies have been allocated ₹203,420 crore in the budget.

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What is the budget allocation for the Ministry of Electronics & IT?
(a) ₹28,613.32 crore
(b) ₹26,026.25 crore
(c) ₹13,416.20 crore
(d) ₹18,446.05 crore

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What is the budget allocation for the Ministry of Electronics & IT?
(a) ₹28,613.32 crore
(b) ₹26,026.25 crore
(c) ₹13,416.20 crore
(d) ₹18,446.05 crore

 Ministry of Electronics & IT has been allocated ₹26,026.25 crore.

 Ministry of Commerce & Industry has been allocated ₹18,446.05 crore.
 Ministry of Rural Development has been allocated ₹1,90,405.53 crore.
 Ministry of Ports, Shipping & Waterways has been allocated ₹3,470.58 crore.

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What is the total allocation for State Devolution?

(a) ₹14,22,444 crore
(b) ₹1,32,767 crore
(c) ₹23,490 crore
(d) ₹34,725 crore

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What is the total allocation for State Devolution?

(a) ₹14,22,444 crore
(b) ₹1,33,598 crore
(c) ₹23,490 crore
(d) ₹34,725 crore

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What is the total allocation for State Devolution?
(a) ₹14,22,444 crore
(b) ₹1,33,598 crore
(c) ₹23,490 crore
(d) ₹34,725 crore

 The total allocation for State Devolution is ₹14,22,444 crore.

 The total allocation for Securities against Small Savings is ₹343,382 crore.
 Skill Development & Apprenticeships has been allocated ₹13,560 crore.
 Samagra Shiksha has been allocated ₹41,250 crore.
 PM Gram Sadak Yojana has been allocated ₹19,000 crore.
 Ayushman Bharat – PMJAY has been allocated ₹9,406 crore.
 Social Assistance Programs - ₹9,652 crore.
 fertilizer subsidy allocation in the budget is ₹167,887 crore.

SHEETAL SHARMA MA’AM OFFICIAL

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What is the budget allocation for the Ministry of Rural Development?

(a) ₹99,858.56 crore.
(b) ₹1,90,405.53 crore
(c) ₹1,90,756.55 crore
(d) ₹18,446.05 crore

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What is the budget allocation for the Ministry of Rural Development?

(a) ₹99,858.56 crore.
(b) ₹1,90,405.53 crore
(c) ₹1,90,756.55 crore
(d) ₹18,446.05 crore

 Ministry of Rural Development has been allocated ₹1,90,405.53 crore.

 Ministry of Chemicals & Fertilizers has been allocated ₹1,61,965.21 crore.
 Ministry of Health & Family Welfare has been allocated ₹99,858.56 crore.

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What is the total allocation for the Ministry of Law & Justice?
(a) ₹3,416.20 crore
(b) ₹20,516.61 crore
(c) ₹5,850.37 crore
(d) ₹3,470.58 crore

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What is the total allocation for the Ministry of Law & Justice?
(a) ₹3,416.20 crore
(b) ₹20,516.61 crore
(c) ₹5,850.37 crore
(d) ₹3,470.58 crore

Ministry of Law & Justice has been allocated ₹5,850.37 crore.

Ministry of Power has been allocated ₹21,847.00 crore.
Ministry of External Affairs has been allocated ₹20,516.61 crore.

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What is the allocation for the Ministry of Health & Family Welfare?
(a) ₹99,858.56 crore
(b) ₹96,777.00 crore
(c) ₹18,650.05 crore
(d) ₹26,889.69 crore

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What is the allocation for the Ministry of Health & Family Welfare?
(a) ₹99,858.56 crore
(b) ₹96,777.00 crore
(c) ₹18,650.05 crore
(d) ₹26,889.69 crore

Ministry of Health & Family Welfare has been allocated ₹99,858.56 crore.
Ministry of Ports, Shipping & Waterways has been allocated ₹3,470.58 crore.
Department of Space has been allocated ₹13,416.20 crore.

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What is the allocation for Non-Tax Revenue in the budget?

(a) ₹16,44,936 crore
(b) ₹28,37,409 crore
(c) ₹5,83,000 crore
(d) ₹34,20,409 crore

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What is the allocation for Non-Tax Revenue in the budget?

(a) ₹16,44,936 crore
(b) ₹28,37,409 crore
(c) ₹5,83,000 crore
(d) ₹34,20,409 crore

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What is the allocation for PM Schools for Rising India (PM SHRI)?
(a) ₹19,406 crore
(b) ₹23,560 crore
(c) ₹21,960 crore
(d) ₹7,500 crore

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What is the allocation for PM Schools for Rising India (PM SHRI)?
(a) ₹19,406 crore
(b) ₹23,560 crore
(c) ₹21,960 crore
(d) ₹7,500 crore

 PM Gram Sadak Yojana has been allocated ₹19,000 crore.

 Ayushman Bharat – PMJAY has been allocated ₹9,406 crore.
 Social Assistance Programs have been allocated ₹9,652 crore.
 Samagra Shiksha has been allocated ₹41,250 crore.

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What is the total allocation for Production Linked Incentive (PLI) Schemes?
(a) ₹7,500 crore
(b) ₹9,000 crore
(c) ₹2,445 crore
(d) ₹9,406 crore

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What is the total allocation for Production Linked Incentive (PLI) Schemes?
(a) ₹7,500 crore
(b) ₹9,000 crore
(c) ₹2,445 crore
(d) ₹9,406 crore

Production Linked Incentive (PLI) Schemes have been allocated ₹2,445 crore.

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Which ministry received the highest budget allocation for 2025-26?

(a) Ministry of Defence
(b) Ministry of Power
(c) Ministry of Home Affairs
(d) Ministry of Education

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Which ministry received the highest budget allocation for 2025-26?
(a) Ministry of Defence
(b) Ministry of Power
(c) Ministry of Home Affairs
(d) Ministry of Education

SHEETAL SHARMA MA’AM OFFICIAL

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Tax deduction limit for senior citizens increased from ₹ 50,000 to ₹ _______.

a) 1 lakh
b) 2 lakh
c) 1.5 lakh
d) 2.5 lakh

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Tax deduction limit for senior citizens increased from ₹ 50,000 to ₹ _______.

a) 1 lakh
b) 2 lakh
c) 1.5 lakh
d) 2.5 lakh

Tax deduction limit for senior citizens doubled from ₹ 50,000 to ₹ 1 lakh.
The annual limit of ₹2.40 lakh for TDS on rent increased to ₹ 6 lakh.

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What is the allocation for the Urban Challenge Fund in the budget?
(a) ₹1.5 lakh crore
(b) ₹1 lakh crore
(c) ₹2 lakh crore
(d) ₹50,000 crore

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What is the allocation for the Urban Challenge Fund in the budget?
(a) ₹1.5 lakh crore
(b) ₹1 lakh crore
(c) ₹2 lakh crore
(d) ₹50,000 crore

Government will set up an Urban Challenge Fund of Rs.1 lakh crore to implement the proposals for
‘Cities as Growth Hubs’, ‘Creative Redevelopment of Cities’ and ‘Water and Sanitation’.
Under the investment in Innovation, an allocation of ₹20,000 crore is announced to implement private
sector driven Research, Development and Innovation initiative.
National Geospatial Mission to develop foundational geospatial infrastructure and data which will
benefit urban planning.
Budget proposes Gyan Bharatam Mission, for survey, documentation and conservation of more than
1 crore manuscripts with academic institutions, museums, libraries and private collectors.
A National Digital Repository of Indian knowledge systems for knowledge sharing is also proposed.

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Salaried class to pay nil income tax up to how much per annum in new tax regime?

a) ₹3.5 lakh
b) ₹7.5 lakh
c) ₹7.75 lakh
d) ₹12.75 lakh

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Salaried class to pay nil income tax up to how much per annum in new tax regime?

a) ₹3.5 lakh
b) ₹7.5 lakh
c) ₹7.75 lakh
d) ₹12.75 lakh

Salaried class to pay nil income tax up to ₹12.75 lakh per annum in new tax regime.
 Union Budget 2025-26 proposes new direct tax slabs and rates under the new income tax regime so
that no income tax is needed to be paid for total income upto ₹ 12 Lakh per annum, i.e. average income
of Rs 1 Lakh per month, other than special rate income such as Capital Gain.
 Salaried individuals earning upto ₹ 12.75 Lakh per annum will pay NIL tax, due to standard deduction of
₹ 75,000. Towards the new tax structure and other direct tax proposals, Government is set to lose
revenue of about ₹ 1 lakh crore.

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 To rationalize TDS/TCS, Budget doubles Total Income per Rate of Tax

limit for tax deduction on interest earned annum
by senior citizens from the present ₹
₹ 0 – 4 Lakh NIL
50,000 to ₹ 1 Lakh.
 Further, TDS threshold on rent has been ₹ 4 – 8 Lakh 5%
increased to ₹ 6 Lakh from ₹ 2.4 Lakh per
annum. ₹ 8 – 12 Lakh 10%
 Other measures include, increasing of
threshold to collect TCS to ₹ 10 Lakh and ₹ 12 – 16 Lakh 15%
continuing with higher TDS deductions
₹ 16 – 20 Lakh 20%
only in non-PAN cases. After the
decriminalization of delay in payment of ₹ 20 – 24 Lakh 25%
TDS, delay in TCS payments has now
been decriminalized. Above ₹ 24 Lakh 30%

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Government will launch a 6-year “Mission for Aatmanirbharta in Pulses” with

special focus on which of the following pulses?
a) Tur
b) Urad
c) Masoor
d) All of the above

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Government will launch a 6-year “Mission for Aatmanirbharta in Pulses” with

special focus on which of the following pulses?
a) Tur
b) Urad
c) Masoor
d) All of the above

Government will launch a 6-year “Mission for Aatmanirbharta in Pulses” with special
focus on Tur, Urad and Masoor. Central agencies (NAFED and NCCF) will be ready
to procure these 3 pulses, as much as offered during the next 4 years from farmers.

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In FY26 Union Budget , it was announced that how many Atal Tinkering Labs will be
set up in Government schools in next 5 years?
a) 50,000
b) 80,000
c) 100,000
d) 150,000

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In FY26 Union Budget , it was announced that how many Atal Tinkering Labs will be
set up in Government schools in next 5 years?
a) 50,000
b) 80,000
c) 100,000
d) 150,000

Under the investment in people, she announced that 50,000 Atal Tinkering Labs will be set
up in Government schools in next 5 years.
Bharatiya Bhasha Pustak Scheme will be implemented to provide digital-form Indian
language books for school and higher education.
A Centre of Excellence in Artificial Intelligence for education will be set up with a total outlay
of 500 crore.

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Budget proposes Gyan Bharatam Mission, for survey, documentation and

conservation of how many manuscripts with academic institutions, museums,
libraries and private collectors?
a) 1 crore
b) 2 crore
c) 3 crore
d) 4 crore

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Budget proposes Gyan Bharatam Mission, for survey, documentation and
conservation of how many manuscripts with academic institutions, museums,
libraries and private collectors?
a) 1 crore
b) 2 crore
c) 3 crore
d) 4 crore

Budget proposes Gyan Bharatam Mission, for survey, documentation and conservation
of more than 1 crore manuscripts with academic institutions, museums, libraries and
private collectors.
A National Digital Repository of Indian knowledge systems for knowledge sharing is also
proposed.

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A Centre of Excellence in Artificial Intelligence for education will be set

up with a total outlay of how many rupees?
a) 200
b) 300
c) 500
d) 1000

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A Centre of Excellence in Artificial Intelligence for education will be set up with a total
outlay of how many rupees?
a) 200
b) 300
c) 500
d) 1000

A Centre of Excellence in Artificial Intelligence for education will be set up with a total outlay of
500 crore. Budget announced that Government will arrange for Gig workers’ identity cards, their
registration on the e-Shram portal and healthcare under PM Jan Arogya Yojana.
Under the investment in Economy, Smt Sitharaman said Infrastructure-related ministries will
come up with a 3-year pipeline of projects in PPP mode.
She added that an outlay of Rs 1.5 lakh crore was proposed for the 50-year interest free loans
to states for capital expenditure and incentives for reforms.

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An Investment Friendliness Index of States will be launched in which year to

further the spirit of competitive cooperative federalism?
a) 2024
b) 2025
c) 2027
d) 2028

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An Investment Friendliness Index of States will be launched in which year to

further the spirit of competitive cooperative federalism?
a) 2024
b) 2025
c) 2027
d) 2028

An Investment Friendliness Index of States will be launched in 2025 to further the

spirit of competitive cooperative federalism.
Union Finance Minister proposed to raise the Foreign Direct Investment (FDI) limit
for the insurance from 74 to 100 per cent, to be available for those companies that
invest the entire premium in India.

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Revised Estimate 2024-25 of fiscal deficit is ______ per cent of GDP, while the
Budget Estimates 2025-26 is estimated to be 4.4 per cent of GDP.

a) 4.6%
b) 4.7%
c) 4.8%
d) 4.9%

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Revised Estimate 2024-25 of fiscal deficit is ______
per cent of GDP, while the Budget Estimates 2025-26
is estimated to be 4.4 per cent of GDP.

a) 4.6%
b) 4.7%
c) 4.8%
d) 4.9%

Revised Estimate 2024-25 of fiscal deficit is 4.8 per cent

of GDP, while the Budget Estimates 2025-26 is
estimated to be 4.4 per cent of GDP.

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TDS threshold on rent has been increased to ₹ ______ Lakh from ₹ 2.4 Lakh
per annum.
a) 5
b) 6
c) 7
d) 10

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TDS threshold on rent has been increased to ₹ ______ Lakh from ₹ 2.4 Lakh
per annum.
a) 5
b) 6
c) 7
d) 10

Budget doubles limit for tax deduction on interest earned by senior citizens from the
present ₹ 50,000 to ₹ 1 Lakh. Further, TDS threshold on rent has been increased to
₹ 6 Lakh from ₹ 2.4 Lakh per annum. Other measures include, increasing of
threshold to collect TCS to ₹ 10 Lakh and continuing with higher TDS deductions
only in non-PAN cases. After the decriminalization of delay in payment of TDS,
delay in TCS payments has now been decriminalized.

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As relief on import of Drugs/Medicines, how many lifesaving drugs and

medicines for treating cancer, rare diseases and chronic diseases have been
fully exempted from Basic Customs Duty (BCD)?
a) 23
b) 30
c) 32
d) 36

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As relief on import of Drugs/Medicines, how many lifesaving drugs and medicines for treating cancer, rare
diseases and chronic diseases have been fully exempted from Basic Customs Duty (BCD)?
a) 23
b) 30
c) 32
d) 36

As relief on import of Drugs/Medicines, 36 lifesaving drugs and medicines for treating cancer, rare diseases and chronic
diseases have been fully exempted from Basic Customs Duty (BCD). Further, 37 medicines along with 13 new drugs and
medicines under Patient Assistance Programmes have been exempted from Basic Customs Duty (BCD), if supplied free
to patients.
To support Domestic Manufacturing and Value Addition, BCD on 25 critical minerals, that were not domestically available,
were exempted in July 2024. The Budget 2025-26 fully exempts cobalt powder and waste, scrap of lithium-ion battery,
Lead, Zinc and 12 more critical minerals. To promote domestic textile production, two more types of shuttle-less looms
added to fully exempted textile machinery. Further, BCD on knitted fabrics covering nine tariff lines from “10% to 20%”
revised to “20% or ₹ 115 kg, whichever is higher”.

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BCD on Interactive Flat Panel Display (IFPD) increased to _____ % and on Open
cells reduced to _____ %.
a) 15 ; 5
b) 20; 5
c) 25;10
d) 30;15

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BCD on Interactive Flat Panel Display (IFPD) increased to _____ % and on Open cells reduced to
_____ %.
a) 15 ; 5
b) 20; 5
c) 25;10
d) 30;15

To rectify inverted duty structure and promote “Make in India”, BCD on Interactive Flat Panel Display
(IFPD) increased to 20% and on Open cells reduced to 5%. Further to promote manufacture of Open
cells, BCD on parts of Open Cells stands exempted.
To boost manufacturing of Lithion-ion battery in the country, 35 additional capital goods for EV battery
manufacturing, and 28 additional capital goods for mobile phone battery manufacturing added to the list
of exempted capital goods. Union Budget 2025-26 also continues exemption on BCD on raw materials,
components, consumables or parts for ship building for another ten years. Budget also reduced BCD
from 20% to 10% on Carrier Grade ethernet switches to make it at par with Non-Carrier Grade ethernet
switches.

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For export promotion, Budget 2025-26 facilitates exports of handicrafts, reduce

BCD from 15% to how much percent on fish hydrolysate for manufacture of fish
and shrimp feeds?
a) 2
b) 5
c) 8
d) 10

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For export promotion, Budget 2025-26 facilitates exports of handicrafts, reduce

BCD from 15% to how much percent on fish hydrolysate for manufacture of fish
and shrimp feeds?
a) 2
b) 5
c) 8
d) 10

For export promotion, Budget 2025-26 facilitates exports of handicrafts, fully exempts
BCD on Wet Blue leather for value addition and employment, reduce BCD from 30% to
5% on Frozen Fish Paste and reduce BCD from 15% to 5% on fish hydrolysate for
manufacture of fish and shrimp feeds.

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BCD exempted for how manyyears on raw materials & components used for ship
building?
a) 5
b) 10
c) 15
d) 20

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BCD exempted for how manyyears on raw materials & components used for ship
building?
a) 5
b) 10
c) 15
d) 20

BCD exempted for 10 years on raw materials & components used for ship building.

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What are the four identified engines of development in the Union Budget 2025-26?

(a) Agriculture, MSMEs, Investment, and Exports

(b) Infrastructure, Digital Economy, Manufacturing, and Tourism

(c) Education, Healthcare, Digitalization, and Trade

(d) Defense, Railways, Services, and Technology

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What are the four identified engines of development in the Union Budget 2025-26?

(a) Agriculture, MSMEs, Investment, and Exports

(b) Infrastructure, Digital Economy, Manufacturing, and Tourism

(c) Education, Healthcare, Digitalization, and Trade

(d) Defense, Railways, Services, and Technology

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As per the Union Budget 2025-26, Finance Minister Nirmala Sitharaman announced
that individuals earning up to ₹12 lakh would be exempt from income tax under the
new regime. With the new income tax regime, which of the following income slabs has
a tax rate of 10%?

(a) ₹4 to ₹8 lakh

(b) ₹8 to ₹12 lakh

(c) ₹16 to ₹20 lakh

(d) ₹12 to ₹16 lakh

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As per the Union Budget 2025-26, Finance Minister Nirmala Sitharaman announced that
individuals earning up to ₹12 lakh would be exempt from income tax under the new regime.
With the new income tax regime, which of the following income slabs has a tax rate of 10%?

(a) ₹4 to ₹8 lakh

(b) ₹8 to ₹12 lakh

(c) ₹16 to ₹20 lakh

(d) ₹12 to ₹16 lakh

With the standard deduction of ₹75,000, individuals can earn up to ₹12.75 lakh without incurring
any income tax liability.

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The new tax regime introduces revised income tax slabs:
Up to ₹4 lakh: No tax
₹4 to ₹8 lakh: 5% tax
₹8 to ₹12 lakh: 10% tax
₹12 to ₹16 lakh: 15% tax
₹16 to ₹20 lakh: 20% tax
₹20 to ₹24 lakh: 25% tax
Above ₹24 lakh: 30% tax
Tax Savings for ₹12 Lakh Income – A taxpayer earning ₹12 lakh will benefit from ₹80,000 in tax
savings under the new regime.
Tax Savings for ₹18 Lakh Income – A person earning ₹18 lakh will receive ₹70,000 in tax
savings.Tax Savings for ₹25 Lakh Income – A taxpayer with ₹25 lakh income will get a tax benefit
of ₹1.10 lakh.The revision in tax slabs is aimed at providing significant relief to taxpayers and
encouraging economic growth.

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What is the total budget allocation for Indian Railways for FY 2025-26?

(a) ₹2.52 lakh crore

(b) ₹2.45 lakh crore

(c) ₹2.65 lakh crore

(d) ₹2.09 lakh crore

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What is the total budget allocation for Indian Railways for FY 2025-26?

(a) ₹2.52 lakh crore

(b) ₹2.45 lakh crore

(c) ₹2.65 lakh crore

(d) ₹2.09 lakh crore

The Budget allocation for Indian Railways for FY 2025-26 stands at ₹2.65 lakh crore,
the same as last year’s allocation.

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The allocations for customer amenities in the Railways and investments in public sector units and
joint ventures have been slashed.
The Railway Capex stands at ₹2.52 lakh crore from the total ₹2.65 lakh crore allocation that
include(s) Public Private Partnership investments.
In FY 2024-25, of the allocated budget of ₹2.65 lakh crore, the expenditure till January 23 this
year stood at ₹2.09 lakh crore (79.33%). The actual utilisation of the budget for FY 2023-24
stood at ₹2.45 lakh crore, Budget documents reveal.
In the Union Budget 2025-26, Indian Railways (IR) has planned to redevelop more than 1300
stations during the next 4 years. These railway stations will be redeveloped under the prestigious
Amrit Bharat Station Scheme (ABSS).
• The Rail Budget 2025 includes manufacturing of:
• 100 non-AC Amrit Bharat trains
• 50 NAMO Bharat trains (130 kmph for city connections)
• 200 Vande Bharat trains (Sleeper and chair car versions)
• 17,500 general coaches, of which 1,200 have already been manufactured

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Finance Minister Nirmala Sitharaman paved the way for technological upgradation and better
access to capital for micro, small, and medium enterprises (MSMEs) with the investment and
turnover limits for classification being raised 2.5 and 2 times, respectively. What is the primary
goal of increasing the investment and turnover limits for MSMEs in Budget 2025-26?

(a) To increase tax revenue from MSMEs

(b) To facilitate technological upgradation and better access to capital

(c) To reduce competition in the MSME sector

(d) To encourage MSMEs to shift to the large-scale industry category

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Finance Minister Nirmala Sitharaman paved the way for technological upgradation and better access to
capital for micro, small, and medium enterprises (MSMEs) with the investment and turnover limits for
classification being raised 2.5 and 2 times, respectively. What is the primary goal of increasing the
investment and turnover limits for MSMEs in Budget 2025-26?

(a) To increase tax revenue from MSMEs

(b) To facilitate technological upgradation and better access to capital

(c) To reduce competition in the MSME sector

(d) To encourage MSMEs to shift to the large-scale industry category

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Finance Minister Nirmala Sitharaman paved the way for technological upgradation and better
access to capital for micro, small, and medium enterprises (MSMEs) with the investment and
turnover limits for classification being raised 2.5 and 2 times, respectively.
Currently, over 1 crore registered MSMEs, employing 7.5 crore people, and generating 36 per
cent of our manufacturing, have come together to position India as a global manufacturing hub.
With their quality products, these MSMEs are responsible for 45 per cent of our exports.
With this, ‘micro’ enterprises investment limit will be increased from Rs 1 crore to Rs 2.5 crore
and turnover has been raised from Rs 5 crore to Rs 10 crore.
Similarly, for ‘small’ enterprises, it is up from Rs 10 crore to Rs 25 crore in investment. In case
of turnover, it is from Rs 50 crore to Rs 100 crore.
However, for ‘medium’ enterprises, investment has been raised from Rs 50 crore to Rs 125 crore
and turnover from Rs 250 crore to Rs 500 crore, respectively.
For FY26, the MSME ministry has got Rs 23,168 crore, up from Rs 17, 306 crore, given in the
revised estimates for 2025.

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