Questions and Answers
What is the primary focus of the Pumped Storage Policy?
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 __________.
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Match the initiatives with their respective focuses:
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What is the annual interest subvention offered for loans up to ₹10 lakh for higher education?
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The allocation for schemes benefitting women and girls exceeds ₹3 lakh crore.
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What is the purpose of the Pradhan Mantri Janjatiya Unnat Gram Abhiyan?
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The financial support of ₹15,000 crores is arranged under the __________ Act.
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Match the following initiatives with their primary focus:
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Which of the following is NOT one of the major focus groups mentioned in the budget?
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The Budget for 2024-2025 includes measures for promoting natural farming.
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What is the primary goal of the budget theme for 2024-2025?
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The budget plan includes the release of 109 new high-yielding and climate-resilient varieties of ______ crops.
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Match the following priorities with their corresponding initiatives:
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Which initiative is aimed at supporting oil seed production?
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The budget's focus on 'Yuva' primarily aims to support the elderly population.
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What will be established to support natural farming over the next 2 years?
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What is the maximum number of electricity units households can obtain for free each month under the Muft Bijli Yojana?
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1.28 crore registrations and 14 lakh applications have been received for the PM Surya Ghar initiative.
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What is the total allocation of ₹1.5 lakh crore meant for?
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Phase IV of PMGSY aims to provide all-weather connectivity to __________ rural habitations.
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Match the following programs with their objectives:
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What is the new corporate tax rate on foreign companies?
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The standard deduction for salaried employees has decreased to ₹50,000.
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What is the allocation for defense in ₹ Crore?
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The tax regime provides for safe harbour rates for foreign mining __________.
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Match the following expenditure items with their respective amounts:
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Which of the following represents the percentage of income tax revenue?
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The allocation for MGNREGA in 2023-24 is 60,000 crore.
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What is the effective capital expenditure projected for 2024-25 in ₹ lakh crore?
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The deduction on family pension for pensioners has increased from ₹______ to ₹25,000.
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Which scheme has an allocation of ₹2,228 crore for nuclear power projects in 2024-25?
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Interest payments account for 19% of the expenditure.
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What is the total revenue receipts for 2023-24 in ₹ lakh crore?
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States' share of taxes and duties accounts for ______% of the total expenditure.
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What is the new deduction limit on family pensions for pensioners?
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Match the following allocations with their corresponding schemes:
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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%).
Fiscal Trends
- 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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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.
