Budget MCQs PDF

Sure thing! Let’s start creating multiple-choice questions (MCQs) from the given text. I’ll go line by line and make sure each fact is covered in the MCQs. If multiple facts are in one line, I’ll combine them into a single MCQ. If any fact isn’t covered in the MCQ, I’ll mention it separately. ### B...

Sure thing! Let’s start creating multiple-choice questions (MCQs) from the given text. I’ll go line by line and make sure each fact is covered in the MCQs. If multiple facts are in one line, I’ll combine them into a single MCQ. If any fact isn’t covered in the MCQ, I’ll mention it separately. ### Budget Estimates 2024-25: **MCQ:** Q: What are the total receipts other than borrowings for the Budget Estimates 2024-25? A) `48.21 lakh crore B) `25.83 lakh crore C) `32.07 lakh crore D) `35.00 lakh crore - **Correct Answer:** C) `32.07 lakh crore ### Total receipts other than borrowings: `32.07 lakh crore. **MCQ:** Already covered above. ### Total expenditure: `48.21 lakh crore. **MCQ:** Q: What is the total expenditure for the Budget Estimates 2024-25? A) `32.07 lakh crore B) `25.83 lakh crore C) `48.21 lakh crore D) `55.00 lakh crore - **Correct Answer:** C) `48.21 lakh crore ### Net tax receipt: `25.83 lakh crore. **MCQ:** Q: What are the net tax receipts for the Budget Estimates 2024-25? A) `48.21 lakh crore B) `25.83 lakh crore C) `32.07 lakh crore D) `29.00 lakh crore - **Correct Answer:** B) `25.83 lakh crore ### Fiscal deficit: 4.9 per cent of GDP. **MCQ:** Q: What is the fiscal deficit as a percentage of GDP for the Budget Estimates 2024-25? A) 4.5% B) 4.0% C) 4.9% D) 5.5% - **Correct Answer:** C) 4.9% ### Government aims to reach a deficit below 4.5 per cent next year. **MCQ:** Q: What is the target fiscal deficit percentage that the government aims to achieve next year? A) Below 4.0% B) Below 4.5% C) Below 5.0% D) Below 5.5% - **Correct Answer:** B) Below 4.5% ### Inflation continues to be low, stable and moving towards the 4% target; Core inflation (non-food, non-fuel) at 3.1%. **MCQ:** Q: What is the target inflation rate that the government is moving towards? A) 3.0% B) 4.0% C) 5.0% D) 6.0% - **Correct Answer:** B) 4.0% **MCQ:** Q: What is the current core inflation rate (non-food, non-fuel)? A) 2.5% B) 3.1% C) 4.0% D) 5.5% - **Correct Answer:** B) 3.1% ### The focus of budget is on EMPLOYMENT, SKILLING, MSMEs, and the MIDDLE CLASS. **MCQ:** Q: What are the focus areas of the Budget Estimates 2024-25? A) Employment, Skilling, MSMEs, and the Middle Class B) Agriculture, Infrastructure, Health, and Education C) Defense, Tourism, Transportation, and Technology D) Environment, Energy, Housing, and Law - **Correct Answer:** A) Employment, Skilling, MSMEs, and the Middle Class ### Package of PM’s five schemes for Employment and Skilling **MCQ:** Q: How many schemes are included in the Prime Minister’s package for Employment and Skilling? A) Three B) Four C) Five D) Six - **Correct Answer:** C) Five ### Prime Minister’s Package of 5 Schemes and Initiatives for employment, skilling and other opportunities for 4.1 crore youth over a 5-year period. **MCQ:** Q: How many youth are targeted for employment, skilling, and other opportunities under the Prime Minister’s Package of 5 Schemes and Initiatives? A) 3.1 crore B) 4.1 crore C) 5.1 crore D) 6.1 crore - **Correct Answer:** B) 4.1 crore **MCQ:** Q: Over what period will the Prime Minister’s Package of 5 Schemes and Initiatives for employment and skilling be implemented? A) 3 years B) 4 years C) 5 years D) 6 years - **Correct Answer:** C) 5 years ### Scheme A – First Timers: One-month salary of up to `15,000 to be provided in 3 installments to first-time employees, as registered in the EPFO. **MCQ:** Q: What is the maximum one-month salary provided to first-time employees under Scheme A – First Timers? A) `10,000 B) `12,000 C) `15,000 D) `18,000 - **Correct Answer:** C) `15,000 **MCQ:** Q: In how many installments will the one-month salary be provided to first-time employees under Scheme A – First Timers? A) 2 installments B) 3 installments C) 4 installments D) 5 installments - **Correct Answer:** B) 3 installments ### Scheme B – Job Creation in manufacturing: Incentive to be provided at specified scale directly, both employee and employer, with respect to their EPFO contribution in the first 4 years of employment. **MCQ:** Q: Under Scheme B – Job Creation in manufacturing, for how many years will the incentive be provided with respect to EPFO contribution? A) 2 years B) 3 years C) 4 years D) 5 years - **Correct Answer:** C) 4 years ### Scheme C – Support to employers: Government to reimburse up to `3,000 per month for 2 years towards EPFO contribution of employers, for each additional employee. **MCQ:** Q: How much will the government reimburse to employers per month for each additional employee under Scheme C – Support to employers? A) `2,000 B) `3,000 C) `4,000 D) `5,000 - **Correct Answer:** B) `3,000 **MCQ:** Q: For how many years will the government reimburse the EPFO contribution of employers for each additional employee under Scheme C – Support to employers? A) 1 year B) 2 years C) 3 years D) 4 years - **Correct Answer:** B) 2 years ### New centrally sponsored scheme for Skilling 20 lakh youth to be skilled over a 5-year period. **MCQ:** Q: How many youth are targeted to be skilled under the new centrally sponsored scheme for Skilling? A) 10 lakh B) 15 lakh C) 20 lakh D) 25 lakh - **Correct Answer:** C) 20 lakh **MCQ:** Q: Over what period will the new centrally sponsored scheme for Skilling be implemented? A) 3 years B) 4 years C) 5 years D) 6 years - **Correct Answer:** C) 5 years ### 1,000 Industrial Training Institutes to be upgraded in hub and spoke arrangements. **MCQ:** Q: How many Industrial Training Institutes will be upgraded in hub and spoke arrangements? A) 500 B) 750 C) 1,000 D) 1,250 - **Correct Answer:** C) 1,000 ### New Scheme for Internship in 500 Top Companies to 1 crore youth in 5 years **MCQ:** Q: How many top companies are involved in the new scheme for internships for 1 crore youth? A) 100 B) 250 C) 500 D) 750 - **Correct Answer:** C) 500 **MCQ:** Q: How many youth are targeted for internships under the new scheme over 5 years? A) 50 lakh B) 75 lakh C) 1 crore D) 1.5 crore - **Correct Answer:** C) 1 crore ### Nine Budget Priorities in pursuit of ‘Viksit Bharat’: **MCQ:** Q: How many budget priorities are there in pursuit of ‘Viksit Bharat’? A) 5 B) 7 C) 9 D) 11 - **Correct Answer:** C) 9 ### Productivity and resilience in Agriculture Employment & Skilling Inclusive Human Resource Development and Social Justice Manufacturing & Services Urban Development Energy Security Infrastructure Innovation, Research & Development and Next Generation Reforms **MCQ:** Q: Which of the following is NOT one of the nine budget priorities in pursuit of ‘Viksit Bharat’? A) Employment & Skilling B) Energy Security C) Health Care Services D) Infrastructure - **Correct Answer:** C) Health Care Services This is the first part. I’ll continue creating MCQs for the remaining text in the next part. Let me know if you have any specific preferences or if there’s anything you Absolutely, let’s continue creating MCQs for the rest of the text: ### Priority 1: Productivity and resilience in Agriculture **MCQ:** Q: What is the allocation for agriculture and allied sectors under Priority 1? A) `1.52 lakh crore B) `2.52 lakh crore C) `3.52 lakh crore D) `4.52 lakh crore - **Correct Answer:** A) `1.52 lakh crore ### New 109 high-yielding and climate-resilient varieties of 32 field and horticulture crops to be released for cultivation by farmers. **MCQ:** Q: How many new high-yielding and climate-resilient varieties of crops will be released? A) 100 B) 109 C) 115 D) 120 - **Correct Answer:** B) 109 **MCQ:** Q: How many field and horticulture crops will have new high-yielding and climate-resilient varieties released? A) 30 B) 31 C) 32 D) 33 - **Correct Answer:** C) 32 ### 1 crore farmers across the country to be initiated into natural farming, with certification and branding in next 2 years. **MCQ:** Q: How many farmers will be initiated into natural farming? A) 50 lakh B) 75 lakh C) 1 crore D) 1.5 crore - **Correct Answer:** C) 1 crore **MCQ:** Q: Within how many years will certification and branding be provided for natural farming? A) 1 year B) 2 years C) 3 years D) 4 years - **Correct Answer:** B) 2 years ### 10,000 need-based bio-input resource centres to be established for natural farming. **MCQ:** Q: How many bio-input resource centres will be established for natural farming? A) 5,000 B) 7,500 C) 10,000 D) 12,500 - **Correct Answer:** C) 10,000 ### Digital Public Infrastructure (DPI) for Agriculture to be implemented for coverage of farmers and their lands in 3 years. **MCQ:** Q: What is the timeline for implementing Digital Public Infrastructure (DPI) for Agriculture? A) 1 year B) 2 years C) 3 years D) 4 years - **Correct Answer:** C) 3 years ### Priority 2: Employment & Skilling **MCQ:** Already covered above. ### To facilitate higher participation of women in the workforce, Working women hostels and crèches to be established with industrial collaboration **MCQ:** Q: What facilities will be established to facilitate higher participation of women in the workforce? A) Working women hostels B) Crèches C) Both A and B D) None of the above - **Correct Answer:** C) Both A and B ### women-specific skilling programmes to be organized **MCQ:** Q: What type of programmes will be organized to facilitate higher participation of women in the workforce? A) Health programmes B) Skilling programmes C) Sports programmes D) Cultural programmes - **Correct Answer:** B) Skilling programmes ### market access for women SHG enterprises to be promoted **MCQ:** Q: What will be promoted to facilitate higher participation of women in the workforce? A) Market access for women SHG enterprises B) Educational opportunities for women C) Healthcare facilities for women D) Sports facilities for women - **Correct Answer:** A) Market access for women SHG enterprises ### Skill Development **MCQ:** Already covered above. ### New centrally sponsored scheme for Skilling under Prime Minister’s Package for 20 lakh youth over a 5-year period. **MCQ:** Already covered above. ### Model Skill Loan Scheme to be revised to facilitate loans up to `7.5 lakh. **MCQ:** Q: What is the maximum amount for loans under the revised Model Skill Loan Scheme? A) `5 lakh B) `6 lakh C) `7.5 lakh D) `8 lakh - **Correct Answer:** C) `7.5 lakh ### Financial support for loans upto `10 lakh for higher education in domestic institutions to be provided to youth who have not been eligible for any benefit under government schemes and policies. **MCQ:** Q: What is the maximum loan amount for higher education in domestic institutions for youth not eligible for any benefit under government schemes and policies? A) `7 lakh B) `8 lakh C) `9 lakh D) `10 lakh - **Correct Answer:** D) `10 lakh ### Priority 3: Inclusive Human Resource Development and Social Justice **MCQ:** Already covered above. ### Purvodaya **MCQ:** Q: What is the name of the initiative for inclusive human resource development and social justice? A) Naye Bharat B) Purvodaya C) Vikas Yojana D) Samriddhi - **Correct Answer:** B) Purvodaya ### Industrial node at Gaya to be developed along the Amritsar-Kolkata Industrial Corridor. **MCQ:** Q: Which industrial node will be developed along the Amritsar-Kolkata Industrial Corridor? A) Patna B) Ranchi C) Gaya D) Jamshedpur - **Correct Answer:** C) Gaya ### Power projects, including new 2400 MW power plant at Pirpainti, to be taken up at a cost of `21,400 crore. **MCQ:** Q: What is the capacity of the new power plant to be established at Pirpainti? A) 1800 MW B) 2000 MW C) 2200 MW D) 2400 MW - **Correct Answer:** D) 2400 MW **MCQ:** Q: What is the cost of the power projects to be taken up at Pirpainti? A) `15,000 crore B) `18,000 crore C) `21,400 crore D) `25,000 crore - **Correct Answer:** C) `21,400 crore ### Andhra Pradesh Reorganization Act **MCQ:** Not relevant for an MCQ. ### Special financial support through multilateral development agencies of `15,000 crore in the current financial year. **MCQ:** Q: How much special financial support will be provided through multilateral development agencies in the current financial year? A) `10,000 crore B) `12,000 crore C) `15,000 crore D) `18,000 crore - **Correct Answer:** C) `15,000 crore ### Industrial node at Kopparthy along Vishakhapatnam-Chennai Industrial Corridor and at Orvakal along Hyderabad-Bengaluru Industrial Corridor. **MCQ:** Q: Where will industrial nodes be developed as part of the Andhra Pradesh Reorganization Act? A) Kopparthy and Orvakal B) Tirupati and Vijayawada C) Anantapur and Kadapa D) Kurnool and Guntur - **Correct Answer:** A) Kopparthy and Orvakal ### Women-led development **MCQ:** Already covered above. ### Total allocation of more than `3 lakh crore for schemes benefitting women and girls. **MCQ:** Q: What is the total allocation for schemes benefitting women and girls? A) `1 lakh crore B) `2 lakh crore C) `3 lakh crore D) `4 lakh crore - **Correct Answer:** C) `3 lakh crore ### Pradhan Mantri Janjatiya Unnat Gram Abhiyan **MCQ:** Q: Which scheme aims at the socio-economic development of tribal families in tribal- majority villages and aspirational districts? A) Pradhan Mantri Janjatiya Unnat Gram Abhiyan B) Pradhan Mantri Krishi Sinchai Yojana C) Pradhan Mantri Awas Yojana D) Pradhan Mantri Gram Sadak Yojana - **Correct Answer:** A) Pradhan Mantri Janjatiya Unnat Gram Abhiyan ### Socio-economic development of tribal families in tribal-majority villages and aspirational districts, covering 63,000 villages benefitting 5 crore tribal people. **MCQ:** Q: How many villages will be covered under the Pradhan Mantri Janjatiya Unnat Gram Abhiyan? A) 50,000 B) 60,000 C) 63,000 D) 70,000 - **Correct Answer:** C) 63,000 **MCQ:** Q: How many tribal people will benefit from the Pradhan Mantri Janjatiya Unnat Gram Abhiyan? A) 3 crore B) 4 crore C) 5 crore D) 6 crore - **Correct Answer:** C) 5 crore ### Bank branches in North-Eastern Region **MCQ:** Q: How many branches of India Post Payment Bank will be set up in the North East region? A) 50 B) 75 C) 100 D) 125 - **Correct Answer:** C) 100 ### Priority 4: Manufacturing & Services **MCQ:** Already covered above. ### Credit Guarantee Scheme for MSMEs in the Certainly! Let’s proceed with the remaining text and continue creating MCQs. ### Credit Guarantee Scheme for MSMEs in the Manufacturing Sector **MCQ:** Q: What type of scheme will be provided to MSMEs in the Manufacturing Sector? A) Credit Guarantee Scheme B) Loan Waiver Scheme C) Subsidy Scheme D) Insurance Scheme - **Correct Answer:** A) Credit Guarantee Scheme ### A credit guarantee scheme without collateral or third-party guarantee in term loans to MSMEs for purchase of machinery and equipment. **MCQ:** Q: What will the credit guarantee scheme for MSMEs in the Manufacturing Sector be provided without? A) Collateral B) Third-party guarantee C) Both A and B D) None of the above - **Correct Answer:** C) Both A and B ### Credit Support to MSMEs during Stress Period **MCQ:** Not relevant for an MCQ. ### New mechanism to facilitate continuation of bank credit to MSMEs during their stress period. **MCQ:** Q: What will the new mechanism for MSMEs during their stress period facilitate? A) Reduction of taxes B) Continuation of bank credit C) Subsidized loans D) Insurance coverage - **Correct Answer:** B) Continuation of bank credit ### Mudra Loans **MCQ:** Not relevant for an MCQ. ### The limit of Mudra loans under ‘Tarun’ category to be enhanced to `20 lakh from `10 lakh for those who have successfully repaid previous loans. **MCQ:** Q: What is the new limit of Mudra loans under the ‘Tarun’ category? A) `10 lakh B) `15 lakh C) `20 lakh D) `25 lakh - **Correct Answer:** C) `20 lakh **MCQ:** Q: To whom will the enhanced limit of Mudra loans under the ‘Tarun’ category be provided? A) First-time borrowers B) Those who have successfully repaid previous loans C) Government employees D) Students - **Correct Answer:** B) Those who have successfully repaid previous loans ### Enhanced scope for mandatory onboarding in TReDS **MCQ:** Not relevant for an MCQ. ### Turnover threshold of buyers for mandatory onboarding on the TReDS platform to be reduced from `500 crore to `250 crore. **MCQ:** Q: What will the new turnover threshold be for mandatory onboarding on the TReDS platform? A) `100 crore B) `250 crore C) `500 crore D) `750 crore - **Correct Answer:** B) `250 crore ### MSME Units for Food Irradiation, Quality & Safety Testing **MCQ:** Not relevant for an MCQ. ### Financial support to set up 50 multi-product food irradiation units in the MSME sector. **MCQ:** Q: How many multi-product food irradiation units will receive financial support in the MSME sector? A) 25 units B) 50 units C) 75 units D) 100 units - **Correct Answer:** B) 50 units ### E-Commerce Export Hubs **MCQ:** Not relevant for an MCQ. ### E-Commerce Export Hubs to be set up under public-private-partnership (PPP) mode for MSMEs and traditional artisans to sell their products in international markets. **MCQ:** Q: Under what mode will the E-Commerce Export Hubs be set up for MSMEs and traditional artisans? A) Government-only B) Private-only C) Public-private-partnership (PPP) D) Cooperative - **Correct Answer:** C) Public-private-partnership (PPP) **MCQ:** Q: What is the purpose of setting up E-Commerce Export Hubs for MSMEs and traditional artisans? A) To increase domestic sales B) To sell their products in international markets C) To provide educational support D) To enhance healthcare facilities - **Correct Answer:** B) To sell their products in international markets ### Critical Mineral Mission **MCQ:** Not relevant for an MCQ. ### Critical Mineral Mission to be set up for domestic production, recycling of critical minerals, and overseas acquisition of critical mineral assets. **MCQ:** Q: What are the objectives of the Critical Mineral Mission? A) Domestic production of critical minerals B) Recycling of critical minerals C) Overseas acquisition of critical mineral assets D) All of the above - **Correct Answer:** D) All of the above ### Offshore mining of minerals **MCQ:** Not relevant for an MCQ. ### Auction of the first tranche of offshore blocks for mining, building on the exploration already carried out. **MCQ:** Q: What will be auctioned in the first tranche under the offshore mining of minerals? A) Onshore blocks B) Offshore blocks C) River blocks D) Mountain blocks - **Correct Answer:** B) Offshore blocks ### Digital Public Infrastructure (DPI) Applications **MCQ:** Not relevant for an MCQ. ### Development of DPI applications in the areas of credit, e-commerce, education, health, law and justice, logistics, MSME, services delivery, and urban governance. **MCQ:** Q: In which areas will DPI applications be developed? A) Credit B) E-commerce C) Education, health, law and justice, logistics, MSME, services delivery, and urban governance D) All of the above - **Correct Answer:** D) All of the above ### Priority 5: Urban Development **MCQ:** Already covered above. ### Transit Oriented Development **MCQ:** Not relevant for an MCQ. ### Formulation of Transit Oriented Development plans and strategies to implement and finance 14 large cities above 30 lakh population. **MCQ:** Q: How many large cities will Transit Oriented Development plans and strategies cover? A) 10 B) 12 C) 14 D) 16 - **Correct Answer:** C) 14 **MCQ:** Q: What is the minimum population size of the cities that will be covered under the Transit Oriented Development plans and strategies? A) 20 lakh B) 25 lakh C) 30 lakh D) 35 lakh - **Correct Answer:** C) 30 lakh ### Urban Housing **MCQ:** Not relevant for an MCQ. ### Investment of `10 lakh crore, including the central assistance of `2.2 lakh crore in next 5 years, under PM Awas Yojana Urban 2.0 proposed to address the , housing needs of 1 crore urban poor and middle-class families. **MCQ:** Q: What is the total investment proposed for Urban Housing under PM Awas Yojana Urban 2.0? A) `8 lakh crore B) `9 lakh crore C) `10 lakh crore D) `11 lakh crore - **Correct Answer:** C) `10 lakh crore **MCQ:** Q: How much central assistance is included in the total investment for Urban Housing under PM Awas Yojana Urban 2.0? A) `1.8 lakh crore B) `2.0 lakh crore C) `2.2 lakh crore D) `2.4 lakh crore - **Correct Answer:** C) `2.2 lakh crore **MCQ:** Q: How many urban poor and middle-class families’ housing needs will be addressed under PM Awas Yojana Urban 2.0 in the next 5 years? A) 50 lakh families B) 75 lakh families C) 1 crore families D) 1.25 crore families - **Correct Answer:** C) 1 crore families ### Street Markets **MCQ:** Not relevant for an MCQ. ### New scheme to support the development of 100 weekly ‘haats’ or street food hubs every year for the next 5 years in select cities. **MCQ:** Q: How many weekly ‘haats’ or street food hubs will be developed every year under the new scheme? A) 50 B) 75 C) 100 D) 125 - **Correct Answer:** C) 100 **MCQ:** Q: Over what period will the new scheme support the development of street food hubs in select cities? A) 3 years B) 4 years C) 5 years D) 6 years - **Correct Answer:** C) 5 years ### Priority 6: Energy Security **MCQ:** Already covered above. ### Energy Transition **MCQ:** Not relevant for an MCQ. ### Policy document on ‘Energy Transition Pathways’ to balance the imperatives of employment, growth and environmental sustainability to be brought out. **MCQ:** Q: What is the focus of the policy document on ‘Energy Transition Pathways’? A) Employment B) Growth C) Environmental sustainability D) All of the above - **Correct Answer:** D) All of the above ### Pumped Storage Policy **MCQ:** Not relevant for an MCQ. ### Policy for promoting pumped storage projects for electricity storage to be brought out. **MCQ:** Q: What type of projects will the Pumped Storage Policy promote? A) Solar energy projects B) Wind energy projects C) Pumped storage projects for electricity storage D) Nuclear energy projects - **Correct Answer:** C) Pumped storage projects for electricity storage ### Research and development of small and modular nuclear reactors Certainly! Let’s keep going with the remaining text: ### Research and development of small and modular nuclear reactors **MCQ:** Not relevant for an MCQ. ### Government to partner with private sector for R&D of Bharat Small Modular Reactor and newer technologies for nuclear energy, and to set up Bharat Small Reactors. **MCQ:** Q: What will the government partner with the private sector for in the context of nuclear energy? A) Research and development of Bharat Small Modular Reactor B) Newer technologies for nuclear energy C) Setting up Bharat Small Reactors D) All of the above - **Correct Answer:** D) All of the above ### Advanced Ultra Super Critical Thermal Power Plants **MCQ:** Not relevant for an MCQ. ### Joint venture proposed between NTPC and BHEL to set up a full scale 800 MW commercial plant using Advanced Ultra Super Critical (AUSC) technology. **MCQ:** Q: Which companies are proposing a joint venture to set up a commercial plant using AUSC technology? A) NTPC and BHEL B) ONGC and SAIL C) GAIL and RIL D) BHEL and BEL - **Correct Answer:** A) NTPC and BHEL **MCQ:** Q: What is the capacity of the commercial plant proposed to be set up using AUSC technology? A) 600 MW B) 700 MW C) 800 MW D) 900 MW - **Correct Answer:** C) 800 MW ### Roadmap for ‘hard to abate’ industries **MCQ:** Not relevant for an MCQ. ### Appropriate regulations for transition of ‘hard to abate’ industries from the current ‘Perform, Achieve and Trade’ mode to ‘Indian Carbon Market’ mode to be put in place. **MCQ:** Q: What is the proposed transition for ‘hard to abate’ industries? A) From ‘Perform, Achieve and Trade’ mode to ‘Indian Carbon Market’ mode B) From ‘Zero Emission’ mode to ‘Green Energy’ mode C) From ‘Fossil Fuel’ mode to ‘Renewable Energy’ mode D) From ‘Traditional Industry’ mode to ‘Smart Industry’ mode - **Correct Answer:** A) From ‘Perform, Achieve and Trade’ mode to ‘Indian Carbon Market’ mode ### Priority 7: Infrastructure **MCQ:** Already covered above. ### Infrastructure investment by Central Government **MCQ:** Not relevant for an MCQ. ### `11,11,111 crore (3.4 % of GDP) to be provided for capital expenditure. **MCQ:** Q: What is the infrastructure investment provided by the Central Government for capital expenditure? A) `9,99,999 crore B) `10,10,101 crore C) `11,11,111 crore D) `12,12,121 crore - **Correct Answer:** C) `11,11,111 crore **MCQ:** Q: What percentage of GDP is allocated for capital expenditure by the Central Government? A) 3.0% B) 3.2% C) 3.4% D) 3.6% - **Correct Answer:** C) 3.4% ### Infrastructure investment by state governments **MCQ:** Not relevant for an MCQ. ### Provision of `1.5 lakh crore for long-term interest free loans to support states in infrastructure investment. **MCQ:** Q: How much provision is made for long-term interest free loans to support states in infrastructure investment? A) `1 lakh crore B) `1.25 lakh crore C) `1.5 lakh crore D) `1.75 lakh crore - **Correct Answer:** C) `1.5 lakh crore ### Pradhan Mantri Gram Sadak Yojana (PMGSY) **MCQ:** Not relevant for an MCQ. ### Launch of phase IV of PMGSY to provide all-weather connectivity to 25,000 rural habitations. **MCQ:** Q: How many rural habitations will be provided with all-weather connectivity under phase IV of PMGSY? A) 20,000 B) 22,500 C) 25,000 D) 27,500 - **Correct Answer:** C) 25,000 ### Irrigation and Flood Mitigation **MCQ:** Not relevant for an MCQ. ### Financial support of `11,500 crore to projects such as the Kosi-Mechi intra-state link and other schemes in Bihar. **MCQ:** Q: How much financial support will be provided for irrigation and flood mitigation projects in Bihar, such as the Kosi-Mechi intra-state link? A) `9,000 crore B) `10,500 crore C) `11,500 crore D) `12,500 crore - **Correct Answer:** C) `11,500 crore ### Government to provide assistance to Assam, Himachal Pradesh, Uttarakhand and Sikkim for floods, landslides and other related projects. **MCQ:** Q: Which states will receive government assistance for floods, landslides, and other related projects? A) Assam, Himachal Pradesh, Uttarakhand, and Sikkim B) Bihar, Jharkhand, Odisha, and West Bengal C) Punjab, Haryana, Rajasthan, and Gujarat D) Tamil Nadu, Karnataka, Andhra Pradesh, and Telangana - **Correct Answer:** A) Assam, Himachal Pradesh, Uttarakhand, and Sikkim ### Tourism **MCQ:** Not relevant for an MCQ. ### Comprehensive development of Vishnupad Temple Corridor, Mahabodhi Temple Corridor and Rajgir. **MCQ:** Q: Which temple corridors will see comprehensive development under the tourism initiative? A) Jagannath Temple Corridor and Tirupati Temple Corridor B) Vishnupad Temple Corridor and Mahabodhi Temple Corridor C) Meenakshi Temple Corridor and Somnath Temple Corridor D) Vaishno Devi Temple Corridor and Golden Temple Corridor - **Correct Answer:** B) Vishnupad Temple Corridor and Mahabodhi Temple Corridor **MCQ:** Q: Which city is mentioned alongside Vishnupad Temple Corridor and Mahabodhi Temple Corridor for comprehensive development? A) Patna B) Bodh Gaya C) Rajgir D) Nalanda - **Correct Answer:** C) Rajgir ### Assistance for development of temples, monuments, craftsmanship, wildlife sanctuaries, natural landscapes and pristine beaches of Odisha. **MCQ:** Q: Which state will receive assistance for development of temples, monuments, craftsmanship, wildlife sanctuaries, natural landscapes, and pristine beaches? A) West Bengal B) Bihar C) Odisha D) Jharkhand - **Correct Answer:** C) Odisha ### Priority 8: Innovation, Research & Development **MCQ:** Already covered above. ### Anusandhan National Research Fund for basic research and prototype development to be operationalised. **MCQ:** Q: What will the Anusandhan National Research Fund support? A) Basic research and prototype development B) Infrastructure projects C) Healthcare facilities D) Educational institutions - **Correct Answer:** A) Basic research and prototype development ### Financing pool of `1 lakh crore for spurring private sector-driven research and innovation at commercial scale. **MCQ:** Q: What is the amount allocated for the financing pool to spur private sector-driven research and innovation at commercial scale? A) `50,000 crore B) `75,000 crore C) `1 lakh crore D) `1.25 lakh crore - **Correct Answer:** C) `1 lakh crore ### Space Economy **MCQ:** Not relevant for an MCQ. ### Venture capital fund of `1,000 crore to be set up for expanding the space economy by 5 times in the next 10 years. **MCQ:** Q: How much is allocated for the venture capital fund to expand the space economy? A) `500 crore B) `1,000 crore C) `1,500 crore D) `2,000 crore - **Correct Answer:** B) `1,000 crore **MCQ:** Q: By how much is the space economy expected to expand in the next 10 years? A) 2 times B) 3 times C) 4 times D) 5 times - **Correct Answer:** D) 5 times ### Priority 9: Next Generation Reforms **MCQ:** Already covered above. ### Rural Land Related Actions **MCQ:** Not relevant for an MCQ. ### Unique Land Parcel Identification Number (ULPIN) or Bhu-Aadhaar for all lands Digitization of cadastral maps Survey of map sub-divisions as per current ownership Establishment of land registry Linking to the farmers registry **MCQ:** Q: Which of the following actions are included in the Rural Land Related Actions? A) Unique Land Parcel Identification Number (ULPIN) or Bhu-Aadhaar for all lands B) Digitization of cadastral maps C) Survey of map sub-divisions as per current ownership D) All of the above - **Correct Answer:** D) All of the above ### Urban Land Related Actions **MCQ:** Not relevant for an MCQ. ### Land records in urban areas to be digitized with GIS mapping. **MCQ:** Q: What will be Sure, I’ll continue from where we left off: ### Land records in urban areas to be digitized with GIS mapping. **MCQ:** Q: What technology will be used to digitize land records in urban areas? A) GPS mapping B) Satellite imaging C) GIS mapping D) Drone mapping - **Correct Answer:** C) GIS mapping ### Services to Labour **MCQ:** Not relevant for an MCQ. ### Integration of e-shram portal with other portals to facilitate such one-stop solution. **MCQ:** Q: What will be integrated with other portals to provide a one-stop solution for labor services? A) e-shram portal B) DigiLocker C) UMANG app D) BharatNet - **Correct Answer:** A) e-shram portal ### Open architecture databases for the rapidly changing labour market, skill requirements and available job roles. **MCQ:** Not relevant for an MCQ. ### Mechanism to connect job-aspirants with potential employers and skill providers. **MCQ:** Q: What is the purpose of the proposed mechanism for labor services? A) To provide financial assistance B) To connect job-aspirants with potential employers and skill providers C) To offer housing facilities D) To ensure medical benefits - **Correct Answer:** B) To connect job-aspirants with potential employers and skill providers ### NPS Vatsalya **MCQ:** Not relevant for an MCQ. ### NPS-Vatsalya as a plan for contribution by parents and guardians for minors. **MCQ:** Q: Who can contribute under the NPS-Vatsalya plan? A) Employers B) Friends C) Parents and guardians D) Teachers - **Correct Answer:** C) Parents and guardians This concludes the multiple-choice questions (MCQs) for the entire text provided. If you need any further assistance or have any specific preferences, feel free to let me know! Certainly! Let’s create MCQs for the provided text following the same guidelines: ### Indirect Taxes **MCQ:** Not relevant for an MCQ. ### GST **MCQ:** Q: What is the government’s plan for GST based on its success? A) Reduce GST rates B) Expand GST to remaining sectors C) Abolish GST D) Increase GST rates - **Correct Answer:** B) Expand GST to remaining sectors ### Buoyed by GST’s success, tax structure to be simplified and rationalised to expand GST to remaining sectors. **MCQ:** Already covered above. ### Sector specific customs duty proposals **MCQ:** Not relevant for an MCQ. ### Medicines and Medical Equipment **MCQ:** Not relevant for an MCQ. ### Three cancer drugs namely TrastuzumabDeruxtecan, Osimertinib and Durvalumab fully exempted from custom duty. **MCQ:** Q: Which cancer drugs are fully exempted from custom duty? A) TrastuzumabDeruxtecan, Osimertinib and Durvalumab B) TrastuzumabDeruxtecan, Bevacizumab and Rituximab C) Bevacizumab, Osimertinib and Durvalumab D) Rituximab, Bevacizumab and Osimertinib - **Correct Answer:** A) TrastuzumabDeruxtecan, Osimertinib and Durvalumab ### Changes in Basic Customs Duty (BCD) on x-ray tubes & flat panel detectors for use in medical x-ray machines under the Phased Manufacturing Programme. **MCQ:** Q: On what items are there changes in Basic Customs Duty (BCD) under the Phased Manufacturing Programme? A) X-ray tubes and flat panel detectors for use in medical x-ray machines B) Medical syringes and gloves C) Dental equipment and tools D) Surgical instruments and implants - **Correct Answer:** A) X-ray tubes and flat panel detectors for use in medical x-ray machines ### Mobile Phone and Related Parts **MCQ:** Not relevant for an MCQ. ### BCD on mobile phone, mobile Printed Circuit Board Assembly (PCBA) and mobile charger reduced to 15 per cent. **MCQ:** Q: What is the new Basic Customs Duty (BCD) on mobile phones, mobile Printed Circuit Board Assembly (PCBA), and mobile chargers? A) 10% B) 12% C) 15% D) 18% - **Correct Answer:** C) 15% ### Precious Metals **MCQ:** Not relevant for an MCQ. ### Customs duties on gold and silver reduced to 6 per cent and that on platinum to 6.4 per cent. **MCQ:** Q: What is the reduced customs duty on gold and silver? A) 5% B) 6% C) 6.4% D) 7% - **Correct Answer:** B) 6% **MCQ:** Q: What is the reduced customs duty on platinum? A) 5% B) 6% C) 6.4% D) 7% - **Correct Answer:** C) 6.4% ### Other Metals **MCQ:** Not relevant for an MCQ. ### BCD removed on ferro nickel and blister copper. **MCQ:** Q: On which metals has the Basic Customs Duty (BCD) been removed? A) Ferro nickel and blister copper B) Silver and platinum C) Gold and aluminum D) Zinc and lead - **Correct Answer:** A) Ferro nickel and blister copper ### BCD removed on ferrous scrap and nickel cathode. **MCQ:** Q: On which items has the Basic Customs Duty (BCD) been removed? A) Ferrous scrap and nickel cathode B) Copper and aluminum C) Gold and silver D) Zinc and lead - **Correct Answer:** A) Ferrous scrap and nickel cathode ### Concessional BCD of 2.5 per cent on copper scrap. **MCQ:** Q: What is the concessional Basic Customs Duty (BCD) on copper scrap? A) 2% B) 2.5% C) 3% D) 3.5% - **Correct Answer:** B) 2.5% ### Electronics **MCQ:** Not relevant for an MCQ. ### BCD removed, subject to conditions, on oxygen free copper for manufacture of resistors. **MCQ:** Q: On which item has the Basic Customs Duty (BCD) been removed for the manufacture of resistors? A) Oxygen free copper B) Aluminum foil C) Silver wire D) Nickel sheet - **Correct Answer:** A) Oxygen free copper ### Chemicals and Petrochemicals **MCQ:** Not relevant for an MCQ. ### BCD on ammonium nitrate increased from 7.5 to 10 per cent. **MCQ:** Q: What is the new Basic Customs Duty (BCD) on ammonium nitrate? A) 5% B) 7.5% C) 10% D) 12.5% - **Correct Answer:** C) 10% ### Plastics **MCQ:** Not relevant for an MCQ. ### BCD on PVC flex banners increased from 10 to 25 per cent. **MCQ:** Q: What is the new Basic Customs Duty (BCD) on PVC flex banners? A) 15% B) 20% C) 25% D) 30% - **Correct Answer:** C) 25% ### Telecommunication Equipment **MCQ:** Not relevant for an MCQ. ### BCD increased from 10 to 15 per cent on PCBA of specified telecom equipment. **MCQ:** Q: What is the new Basic Customs Duty (BCD) on PCBA of specified telecom equipment? A) 10% B) 12% C) 15% D) 18% - **Correct Answer:** C) 15% ### Trade facilitation **MCQ:** Not relevant for an MCQ. ### For promotion of domestic aviation and boat & ship MRO, time period for export of goods imported for repairs extended from six months to one year. **MCQ:** Q: What is the new time period for export of goods imported for repairs under trade facilitation? A) Six months B) Nine months C) One year D) Two years - **Correct Answer:** C) One year ### Time-limit for re-import of goods for repairs under warranty extended from three to five years. **MCQ:** Q: What is the new time-limit for re-import of goods for repairs under warranty? A) Two years B) Three years C) Four years D) Five years - **Correct Answer:** D) Five years ### Critical Minerals **MCQ:** Not relevant for an MCQ. ### 25 critical minerals fully exempted from customs duties. **MCQ:** Q: How many critical minerals are fully exempted from customs duties? A) 20 B) 22 C) 25 D) 28 - **Correct Answer:** C) 25 ### BCD on two critical minerals reduced. **MCQ:** Q: How many critical minerals have reduced Basic Customs Duty (BCD)? A) One B) Two C) Three D) Four - **Correct Answer:** B) Two ### Solar Energy **MCQ:** Not relevant for an MCQ. ### Capital goods for use in manufacture of solar cells and panels exempted from customs duty. **MCQ:** Q: What type of goods are exempted from customs duty for the manufacture of solar cells and panels? A) Raw materials B) Capital goods C) Finished products D) Packaging materials - **Correct Answer:** B) Capital goods ### Marine products **MCQ:** Not relevant for an MCQ. ### BCD on certain broodstock, polychaete worms, shrimp and fish feed reduced to 5 per cent. **MCQ:** Q: What is the reduced Basic Customs Duty (BCD) on certain broodstock, polychaete worms, shrimp, and fish feed? A) 2.5% B) 5% C) 7.5% D) 10% - **Correct Answer:** B) 5% ### Various inputs for manufacture of shrimp and fish feed exempted from customs duty. **MCQ:** Q: What is exempted from customs duty in the context of shrimp and fish feed? A) Finished products B) Various inputs for manufacture C) Packaging materials D) Distribution costs - **Correct Answer:** B) Various inputs for manufacture ### Leather and Textile **MCQ:** Not relevant for an MCQ. ### BCD reduced on real down filling material from duck or goose. **MCQ:** Q: On which material has the Basic Customs Duty (BCD) been reduced in the context of leather and textile? A) Synthetic filling material B) Real down filling material from duck or goose C) Cotton filling material D) Wool filling material - **Correct Answer:** B) Real down filling material from duck or goose ### BCD reduced, subject to conditions, on methylene diphenyl diisocyanate (MDI) for manufacture of spandex yarn from 7.5 to 5 per cent. **MCQ:** Q: What is the new Basic Customs Duty (BCD) on methylene Sure, let’s continue from where we left off: ### BCD reduced, subject to conditions, on methylene diphenyl diisocyanate (MDI) for manufacture of spandex yarn from 7.5 to 5 per cent. **MCQ:** Q: What is the new Basic Customs Duty (BCD) on methylene diphenyl diisocyanate (MDI) for the manufacture of spandex yarn? A) 3% B) 4% C) 5% D) 6% - **Correct Answer:** C) 5% ### Direct Taxes **MCQ:** Not relevant for an MCQ. ### Efforts to simplify taxes, improve tax payer services, provide tax certainty and reduce litigation to be continued. **MCQ:** Q: What efforts will be continued in the context of direct taxes? A) Simplify taxes B) Improve taxpayer services C) Provide tax certainty and reduce litigation D) All of the above - **Correct Answer:** D) All of the above ### Enhance revenues for funding development and welfare schemes of government. **MCQ:** Q: What is the purpose of enhancing revenues in the context of direct taxes? A) Funding development and welfare schemes B) Reducing fiscal deficit C) Increasing foreign reserves D) Decreasing inflation - **Correct Answer:** A) Funding development and welfare schemes ### 58 per cent of corporate tax from simplified tax regime in FY23, more than two-thirds taxpayers availed simplified tax regime for personal income tax in FY24. **MCQ:** Q: What percentage of corporate tax in FY23 came from the simplified tax regime? A) 48% B) 58% C) 68% D) 78% - **Correct Answer:** B) 58% **MCQ:** Q: How many taxpayers availed the simplified tax regime for personal income tax in FY24? A) One-third B) Half C) More than two-thirds D) All - **Correct Answer:** C) More than two-thirds ### Simplification for Charities and of TDS **MCQ:** Not relevant for an MCQ. ### Two tax exemption regimes for charities to be merged into one. **MCQ:** Q: How many tax exemption regimes for charities will be merged into one? A) Two B) Three C) Four D) Five - **Correct Answer:** A) Two ### 5 per cent TDS rate on many payments merged into 2 per cent TDS rate. **MCQ:** Q: What is the new TDS rate after merging the 5% rate on many payments? A) 1% B) 2% C) 3% D) 4% - **Correct Answer:** B) 2% ### 20 per cent TDS rate on repurchase of units by mutual funds or UTI withdrawn. **MCQ:** Q: What happened to the 20% TDS rate on repurchase of units by mutual funds or UTI? A) Increased to 25% B) Reduced to 15% C) Withdrawn D) Kept the same - **Correct Answer:** C) Withdrawn ### TDS rate on e-commerce operators reduced from one to 0.1 per cent. **MCQ:** Q: What is the new TDS rate on e-commerce operators? A) 0.5% B) 0.2% C) 0.1% D) 0.3% - **Correct Answer:** C) 0.1% ### Delay for payment of TDS up to due date of filing statement decriminalized. **MCQ:** Q: What has been decriminalized in the context of TDS payment? A) Early payment of TDS B) Delay for payment of TDS up to due date of filing statement C) Non-payment of TDS D) Overpayment of TDS - **Correct Answer:** B) Delay for payment of TDS up to due date of filing statement ### Simplification of Reassessment **MCQ:** Not relevant for an MCQ. ### Assessment can be reopened beyond three years upto five years from the end of Assessment Year only if the escaped income is ₹ 50 lakh or more. **MCQ:** Q: For how many years can the assessment be reopened if the escaped income is ₹50 lakh or more? A) Three years B) Four years C) Five years D) Six years - **Correct Answer:** C) Five years ### In search cases, time limit reduced from ten to six years before the year of search. **MCQ:** Q: What is the new time limit for search cases before the year of search? A) Four years B) Five years C) Six years D) Seven years - **Correct Answer:** C) Six years ### Simplification and Rationalisation of Capital Gains **MCQ:** Not relevant for an MCQ. ### Short term gains on certain financial assets to attract a tax rate of 20 per cent. **MCQ:** Q: What is the new tax rate for short term gains on certain financial assets? A) 15% B) 20% C) 25% D) 30% - **Correct Answer:** B) 20% ### Long term gains on all financial and non-financial assets to attract a tax rate of 12.5 per cent. **MCQ:** Q: What is the new tax rate for long term gains on all financial and non-financial assets? A) 10% B) 12.5% C) 15% D) 17.5% - **Correct Answer:** B) 12.5% ### Exemption limit of capital gains on certain financial assets increased to ₹ 1.25 lakh per year. **MCQ:** Q: What is the new exemption limit of capital gains on certain financial assets per year? A) ₹ 50,000 B) ₹ 75,000 C) ₹ 1 lakh D) ₹ 1.25 lakh - **Correct Answer:** D) ₹ 1.25 lakh ### Tax Payer Services **MCQ:** Not relevant for an MCQ. ### All remaining services of Customs and Income Tax including rectification and order giving effect to appellate orders to be digitalized over the next two years. **MCQ:** Q: Over what period will all remaining services of Customs and Income Tax be digitalized? A) One year B) Two years C) Three years D) Four years - **Correct Answer:** B) Two years ### Litigation and Appeals **MCQ:** Not relevant for an MCQ. ### ‘Vivad Se Vishwas Scheme, 2024’ for resolution of income tax disputes pending in appeal. **MCQ:** Q: What is the purpose of the ‘Vivad Se Vishwas Scheme, 2024’? A) Reduce GST rates B) Resolve income tax disputes pending in appeal C) Increase customs duties D) Abolish TDS - **Correct Answer:** B) Resolve income tax disputes pending in appeal ### Monetary limits for filing direct taxes, excise and service tax related appeals in Tax Tribunals, High Courts and Supreme Court increased to ₹60 lakh, ₹2 crore and ₹5 crore respectively. **MCQ:** Q: What is the new monetary limit for filing direct taxes-related appeals in Tax Tribunals? A) ₹40 lakh B) ₹50 lakh C) ₹60 lakh D) ₹70 lakh - **Correct Answer:** C) ₹60 lakh **MCQ:** Q: What is the new monetary limit for filing excise-related appeals in High Courts? A) ₹1 crore B) ₹1.5 crore C) ₹2 crore D) ₹2.5 crore - **Correct Answer:** C) ₹2 crore **MCQ:** Q: What is the new monetary limit for filing service tax-related appeals in the Supreme Court? A) ₹3 crore B) ₹4 crore C) ₹5 crore D) ₹6 crore - **Correct Answer:** C) ₹5 crore ### Safe harbour rules expanded to reduce litigation and provide certainty in international taxation. **MCQ:** Q: What is the purpose of expanding safe harbour rules in international taxation? A) Reduce litigation B) Increase customs duties C) Abolish GST D) Simplify TDS - **Correct Answer:** A) Reduce litigation ### Employment and Investment **MCQ:** Not relevant for an MCQ. ### Angel tax for all classes of investors abolished to bolster start-up eco-system,. **MCQ:** Q: What has been abolished to bolster the start-up eco-system? A) GST B) Angel tax for all classes of investors C) Customs duties D) Corporate tax - **Correct Answer:** B) Angel tax for all classes of investors ### Simpler tax regime for foreign shipping companies operating domestic cruises to promote cruise tourism in India. **MCQ:** Q: What is the purpose of the simpler tax regime for foreign shipping companies operating domestic cruises? A) Promote cruise tourism in India B) Increase customs duties C) Abolish TDS D) Reduce corporate tax - **Correct Answer:** A) Promote cruise tourism in India ### Safe harbour rates for foreign mining companies selling raw diamonds in the country. **MCQ:** Q: Which foreign companies will benefit from the safe harbour rates? A) Oil companies B) Textile companies C) Mining companies Absolutely, let’s continue from where we left off: ### Safe harbour rates for foreign mining companies selling raw diamonds in the country. **MCQ:** Q: Which foreign companies will benefit from the safe harbour rates? A) Oil companies B) Textile companies C) Mining companies D) IT companies - **Correct Answer:** C) Mining companies ### Corporate tax rate on foreign companies reduced from 40 to 35 per cent. **MCQ:** Q: What is the new corporate tax rate for foreign companies? A) 30% B) 35% C) 40% D) 45% - **Correct Answer:** B) 35% ### Deepening tax base **MCQ:** Not relevant for an MCQ. ### Security Transactions Tax on futures and options of securities increased to 0.02 per cent and 0.1 per cent respectively. **MCQ:** Q: What is the new Security Transactions Tax on futures of securities? A) 0.01% B) 0.02% C) 0.05% D) 0.1% - **Correct Answer:** B) 0.02% **MCQ:** Q: What is the new Security Transactions Tax on options of securities? A) 0.01% B) 0.02% C) 0.05% D) 0.1% - **Correct Answer:** D) 0.1% ### Income received on buy back of shares in the hands of recipient to be taxed. **MCQ:** Q: What will be taxed in the context of buy back of shares? A) Income received on buy back of shares in the hands of the recipient B) Income received on buy back of shares by the company C) Income received on buy back of shares by the government D) Income received on buy back of shares by the brokers - **Correct Answer:** A) Income received on buy back of shares in the hands of the recipient ### Social Security Benefits. **MCQ:** Not relevant for an MCQ. ### Deduction of expenditure by employers towards NPS to be increased from 10 to 14 per cent of the employee’s salary. **MCQ:** Q: What is the new deduction percentage for employers towards NPS? A) 10% B) 12% C) 14% D) 16% - **Correct Answer:** C) 14% ### Non-reporting of small movable foreign assets up to ₹20 lakh de-penalised. **MCQ:** Q: Up to what amount of small movable foreign assets will non-reporting be de-penalised? A) ₹10 lakh B) ₹15 lakh C) ₹20 lakh D) ₹25 lakh - **Correct Answer:** C) ₹20 lakh ### Other major proposal in Finance Bill **MCQ:** Not relevant for an MCQ. ### Equalization levy of 2 per cent withdrawn. **MCQ:** Q: What has been withdrawn in the context of equalization levy? A) 1% equalization levy B) 2% equalization levy C) 3% equalization levy D) 4% equalization levy - **Correct Answer:** B) 2% equalization levy ### Changes in Personal Income Tax under new tax regime **MCQ:** Not relevant for an MCQ. ### Standard deduction for salaried employees increased from ₹50,000 to ₹75,000. **MCQ:** Q: What is the new standard deduction for salaried employees under the new tax regime? A) ₹50,000 B) ₹60,000 C) ₹70,000 D) ₹75,000 - **Correct Answer:** D) ₹75,000 ### Deduction on family pension for pensioners enhanced from ₹15,000/- to ₹25,000/- **MCQ:** Q: What is the new deduction on family pension for pensioners under the new tax regime? A) ₹15,000 B) ₹20,000 C) ₹25,000 D) ₹30,000 - **Correct Answer:** C) ₹25,000 ### Revised tax rate structure: 0-3 lakh rupees Nil 3-7 lakh rupees 5 per cent 7-10 lakh rupees 10 per cent 10-12 lakh rupees 15 per cent 12-15 lakh rupees 20 per cent Above 15 lakh rupees 30 per cent **MCQ:** Q: What is the new tax rate for income between ₹3 lakh to ₹7 lakh under the new tax regime? A) 0% B) 5% C) 10% D) 15% - **Correct Answer:** B) 5% **MCQ:** Q: What is the new tax rate for income between ₹7 lakh to ₹10 lakh under the new tax regime? A) 5% B) 10% C) 15% D) 20% - **Correct Answer:** B) 10% **MCQ:** Q: What is the new tax rate for income between ₹10 lakh to ₹12 lakh under the new tax regime? A) 10% B) 15% C) 20% D) 25% - **Correct Answer:** B) 15% **MCQ:** Q: What is the new tax rate for income between ₹12 lakh to ₹15 lakh under the new tax regime? A) 15% B) 20% C) 25% D) 30% - **Correct Answer:** B) 20% **MCQ:** Q: What is the new tax rate for income above ₹15 lakh under the new tax regime? A) 20% B) 25% C) 30% D) 35% - **Correct Answer:** C) 30% ### Salaried employee in the new tax regime stands to save up to ₹ 17,500/- in income tax. **MCQ:** Q: How much can a salaried employee in the new tax regime save in income tax? A) ₹10,000 B) ₹12,500 C) ₹15,000 D) ₹17,500 - **Correct Answer:** D) ₹17,500 This concludes the multiple-choice questions (MCQs) for the text provided. If there’s anything specific you need further assistance with, feel free to let me know!