Budget 2024-2025 Overview and Initiatives
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Questions and Answers

What is the primary focus of the Pumped Storage Policy?

  • To promote nuclear energy
  • To facilitate electricity storage and renewable energy integration (correct)
  • To expand nuclear reactor technologies
  • To provide financial support for energy audits

    • The Bharat Small Modular Reactor initiative only aims to develop nuclear energy technologies without private sector involvement.

    False

    What energy capacity will the joint venture of NTPC and BHEL set up for AUSC Thermal Power Plants?

    800 MW

    The R&D of Bharat Small Modular Reactor focuses on newer technologies for __________.

    <p>nuclear energy</p> Signup and view all the answers

    Match the initiatives with their respective focuses:

    <p>Bharat Small Reactors = Nuclear energy development Energy Audit = Shifting to cleaner energy forms Pumped Storage Policy = Electricity storage and renewable integration AUSC Thermal Power Plants = Joint venture for large-scale power generation</p> Signup and view all the answers

    What is the annual interest subvention offered for loans up to ₹10 lakh for higher education?

    <p>3%</p> Signup and view all the answers

    The allocation for schemes benefitting women and girls exceeds ₹3 lakh crore.

    <p>True</p> Signup and view all the answers

    What is the purpose of the Pradhan Mantri Janjatiya Unnat Gram Abhiyan?

    <p>Improving the socio-economic condition of tribal communities.</p> Signup and view all the answers

    The financial support of ₹15,000 crores is arranged under the __________ Act.

    <p>Andhra Pradesh Reorganization</p> Signup and view all the answers

    Match the following initiatives with their primary focus:

    <p>Amritsar Kolkata Industrial Corridor = Development of an industrial node at Gaya Polavaram Irrigation Project = Ensuring food security Direct E-vouchers = Financial support for students India Post Payment Bank = Setting up branches in North East region</p> Signup and view all the answers

    Which of the following is NOT one of the major focus groups mentioned in the budget?

    <p>Businessmen</p> Signup and view all the answers

    The Budget for 2024-2025 includes measures for promoting natural farming.

    <p>True</p> Signup and view all the answers

    What is the primary goal of the budget theme for 2024-2025?

    <p>Viksit Bharat</p> Signup and view all the answers

    The budget plan includes the release of 109 new high-yielding and climate-resilient varieties of ______ crops.

    <p>field and horticulture</p> Signup and view all the answers

    Match the following priorities with their corresponding initiatives:

    <p>Productivity = Raising productivity in agriculture Natural Farming = 1 crore farmers initiated MSMEs = Support for cooperatives and start-ups Skilling = Enhancing skills for better employment opportunities</p> Signup and view all the answers

    Which initiative is aimed at supporting oil seed production?

    <p>National Cooperation Policy</p> Signup and view all the answers

    The budget's focus on 'Yuva' primarily aims to support the elderly population.

    <p>False</p> Signup and view all the answers

    What will be established to support natural farming over the next 2 years?

    <p>10,000 need-based bio-input resource centres</p> Signup and view all the answers

    What is the maximum number of electricity units households can obtain for free each month under the Muft Bijli Yojana?

    <p>300 units</p> Signup and view all the answers

    1.28 crore registrations and 14 lakh applications have been received for the PM Surya Ghar initiative.

    <p>True</p> Signup and view all the answers

    What is the total allocation of ₹1.5 lakh crore meant for?

    <p>infrastructure loans for states</p> Signup and view all the answers

    Phase IV of PMGSY aims to provide all-weather connectivity to __________ rural habitations.

    <p>25,000</p> Signup and view all the answers

    Match the following programs with their objectives:

    <p>Muft Bijli Yojana = Free electricity for households PM Surya Ghar = Solar energy initiative PMGSY Phase IV = Rural connectivity Infrastructure allocation = Long-term loans to states</p> Signup and view all the answers

    What is the new corporate tax rate on foreign companies?

    <p>35%</p> Signup and view all the answers

    The standard deduction for salaried employees has decreased to ₹50,000.

    <p>False</p> Signup and view all the answers

    What is the allocation for defense in ₹ Crore?

    <p>4,54,773</p> Signup and view all the answers

    The tax regime provides for safe harbour rates for foreign mining __________.

    <p>companies</p> Signup and view all the answers

    Match the following expenditure items with their respective amounts:

    <p>Defence = 4,54,773 Education = 1,25,638 Health = 89,287 Agriculture and Allied Activities = 1,51,851</p> Signup and view all the answers

    Which of the following represents the percentage of income tax revenue?

    <p>19%</p> Signup and view all the answers

    The allocation for MGNREGA in 2023-24 is 60,000 crore.

    <p>True</p> Signup and view all the answers

    What is the effective capital expenditure projected for 2024-25 in ₹ lakh crore?

    <p>15.0</p> Signup and view all the answers

    The deduction on family pension for pensioners has increased from ₹______ to ₹25,000.

    <p>15,000</p> Signup and view all the answers

    Which scheme has an allocation of ₹2,228 crore for nuclear power projects in 2024-25?

    <p>Nuclear Power Projects</p> Signup and view all the answers

    Interest payments account for 19% of the expenditure.

    <p>True</p> Signup and view all the answers

    What is the total revenue receipts for 2023-24 in ₹ lakh crore?

    <p>31.3</p> Signup and view all the answers

    States' share of taxes and duties accounts for ______% of the total expenditure.

    <p>21</p> Signup and view all the answers

    What is the new deduction limit on family pensions for pensioners?

    <p>₹25,000</p> Signup and view all the answers

    Match the following allocations with their corresponding schemes:

    <p>MGNREGA = 86,000 Research and Development Projects = 1,200 Direct Benefit Transfer-LPG = 1,500 PLI for Pharmaceutical Industry = 2,143</p> Signup and view all the answers

    Study Notes

    Budget 2024-2025 Overview

    • Aimed at achieving 'Viksit Bharat' (Developed India) through targeted initiatives.
    • Focus on four major groups: Garib (Poor), Annadata (Farmers), Mahilayen (Women), and Yuva (Youth).

    Key Themes

    • Employment, skilling, support for MSMEs (Micro, Small and Medium Enterprises), and benefits for the middle class.

    Agricultural Development Initiatives

    • Comprehensive reviews and transformations in agriculture research to enhance productivity and climate resilience.
    • Promotion of natural farming among 1 crore farmers over two years, including support for certification.
    • Introduction of 109 new high-yielding and climate-resilient crop varieties.

    Inclusive Human Resource Development

    • Economic opportunities for Eastern states (Bihar, Jharkhand, West Bengal, Odisha, Andhra Pradesh) to ensure balanced growth.
    • Planned allocation of over ₹3 lakh crore focused on women and girls’ development.
    • Pradhan Mantri Janjatiya Unnat Gram Abhiyan targets socio-economic upliftment for 5 crore tribal people across 63,000 villages.

    Energy Security Initiatives

    • Collaboration with the private sector for Nuclear Energy development, including Bharat Small Modular Reactors.
    • Introduction of a Pumped Storage Policy to facilitate renewable energy integration and storage solutions.
    • Implementation of effective energy audits across multiple clusters for cleaner energy transitions.

    Infrastructure Development

    • ₹11.11 lakh crore earmarked for infrastructure, accounting for 3.4% of GDP.
    • Long-term interest-free loans of ₹1.5 lakh crore for rural connectivity will be implemented under PMGSY Phase IV.

    Simplified Tax Regime

    • Reduced corporate tax rate for foreign companies from 40% to 35%.
    • Increased standard deduction for salaried employees from ₹50,000 to ₹75,000.
    • Enhanced family pension deductions for pensioners from ₹15,000 to ₹25,000.

    Budget Distribution Insights

    • Defence sector allocation stands at ₹4,54,773 crore; significant allocations also made for highways, agriculture, home affairs, and education.
    • Major schemes like MGNREGA receive significant funding, with allocations for nuclear power projects and semiconductor manufacturing increasing notably.

    Revenue and Expenditure Analysis

    • Revenue is primarily generated from income tax (19%), corporation tax (17%), and GST (18%).
    • Key expenses include interest payments (19%) and centrally sponsored schemes (8%).
    • Revenue receipts projected to rise gradually, highlighting ongoing economic improvements.
    • Emphasis on enhancing capital expenditure to drive growth and support infrastructure advancements.

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    Key Budget Highlights 2024-2025 PDF

    Description

    This quiz provides an overview of the Budget 2024-2025, focusing on the key initiatives aimed at achieving 'Viksit Bharat' or Developed India. It highlights the themes of employment, agricultural development, and inclusive human resource development that aim to support various societal groups such as farmers, women, and youth.

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