Budget 2024-2025

Explanation:

• According to the Budget 2024-25, the government has announced to impose 5 percent tax on the income of Rs 3 to 7 lakh in the new tax regime.

Explanation:

• As part of the Union Budget 2024-25 (on July 23), Finance Minister Nirmala Sitharaman announced a major cut in the basic customs duty on gold, silver. The customs duty on gold and silver has been reduced to 6%.

Explanation:

• As part of the Union Budget 2024-25 (on July 23), Finance Minister Nirmala Sitharaman announced a major cut in the basic customs duty on platinum. The customs duty on platinum has been reduced to 6.4%.

Explanation:

• As per Budget 2024-25, the TDS rate on e-commerce operators has been reduced from one percent to 0.1 percent.

Explanation:

• According to Budget 2024-25, the fiscal deficit in the financial year 2024-25 is estimated at 4.9% of GDP.

Explanation:

• In Budget 2024-25, the Finance Minister announced an allocation of ₹1.52 lakh crore for the agriculture sector.

Explanation:

• According to Budget 2024-25, in the new tax regime, now standard deduction of Rs 75 thousand will be available instead of 50 thousand.

Explanation:

• As per Budget 2024-25, the government plans to complete a comprehensive review of the Income Tax Act, 1961 in 6 months

Explanation:

• As per Budget 2024-25, the government will maintain strong fiscal support for infrastructure over the next five years, while balancing other priorities and fiscal consolidation. This year, ₹11,11,111 crore has been allocated for capital expenditure, which is 3.4 per cent of GDP.

Explanation:

• According to Budget 2024-25, Finance Minister Nirmala Sitharaman announced an allocation of Rs 11,500 crore for flood control measures in Bihar.

Explanation:

• According to the Budget 2024-25, Union Finance Minister Nirmala Sitharaman, while presenting the budget in the House, announced to give Rs 26 thousand crores for the construction of Patna-Purnia Expressway and Buxar-Bhagalpur Expressway

Explanation:

• According to the Budget 2024-25, Finance Minister Nirmala Sitharaman made a provision of Rs 15 thousand crores on behalf of the government for Andhra Pradesh.

Explanation:

• Finance Minister Nirmala Sitharaman has increased the limit of loan under the Mudra scheme to ₹20 lakh during the Union Budget 2024, earlier this limit was 10 lakh. This facility is for those who have previously availed and successfully repaid the loans taken under the Tarun category.

Explanation:

• Finance Minister Nirmala Sitharaman has allocated Rs 3,442 crore to promote sports in the country in the Union Budget 2024-25. Out of which Rs 900 crore has been kept for the 'Khelo India' initiative.

Explanation:

• Finance Minister Nirmala Sitharaman has allocated Rs 3,442 crore to promote sports in the country in the Union Budget 2024-25.

Explanation:

• The Defence Ministry has been allocated a record Rs 6.22 lakh crore in the regular Union Budget for the financial year 2024-25, the highest allocation among all ministries. The total allocation is 18.43% higher than the previous financial year, of which 27.66% is earmarked for capital expenditure.

Explanation:

• As per Budget 2024-25, the total allocation to Indian Railways in the financial year 2024-25 is Rs. 2,52,000 crore while in 2023-24 this amount was Rs. 2,40,200 crore. This is an increase of about 5% compared to last year.

Explanation:

• According to Budget 2024-25, the total allocation to Indian Railways in the financial year 2024-25 is Rs 2,52,000 crore. Out of the total allocation, Rs 1.08 lakh crore will be spent on railway safety. This money will be used to upgrade old railway tracks, improve the signalling system of Indian Railways, build flyovers and underpasses, and install Kavach system on the Indian Railways network.

Explanation:

• According to Budget 2024-25, 4 km of track was laid per day in 2013-14, which has now increased to 14.54 km per day in 2023-24.

Explanation:

• As per Budget 2024-25, Indian Railways has set a target of 3000 metric tonnes of freight loading by 2030.

Explanation:

A-3, B-2, C-1, D-4

Explanation:

A-1, B-4, C-2, D-3

Explanation:

A-2, B-1, C-4, D-3

Explanation:

A-3, B-2, C-1, D-4

Explanation:

• According to Budget 2024-25, the total allocation to Indian Railways in the financial year 2024-25 is Rs 2,52,000 crore as against Rs 2,40,200 crore in 2023-24. This is an increase of about 5% compared to last year.
• There has been no change in the budgetary allocation amount for railways since the Interim Budget 2024-25 presented by Nirmala Sitharaman just before the general elections 2024.

Explanation:

• Allocation for construction of new railway lines in the financial year 2024-25 as per Budget 2024-25 - Rs 34,602.75 crore. Railways aims to lay 2,000 km of new tracks.
• Indian Railways has commissioned 31,180 km of tracks in the last decade. In 2013-14, 4 km of track was laid per day, which has now increased to 14.54 km per day in 2023-24.

Explanation:

• According to Budget 2024-25 Finance Minister has announced a scheme to boost job creation in the manufacturing sector by linking it to the employment of first-time workers.
• The scheme will provide incentives for EPFO contributions to both employees and employers for the first four years of employment.
• It is expected to benefit 30 lakh youth. The government will reimburse employers up to ₹3,000 per month for two years for the EPFO contribution of each additional employee.

Explanation:

• According to Budget 2024-25 Finance Minister Nirmala Sitharaman on MSMEs says, “A credit guarantee scheme will be launched to facilitate term loans to MSMEs.
• This scheme will work on reducing the credit risks of such MSMEs. A self-financing guarantee fund will provide cover of up to ₹ 100 crore to each applicant.

Explanation:

• As part of the Union Budget 2024-25 (on July 23), Finance Minister Nirmala Sitharaman announced major cuts in the basic customs duty on gold, silver and platinum.
• The customs duty on gold and silver will be reduced to 6%, and the duty on platinum will be reduced to 6.4%.

Explanation:

• According to Budget 2024-25 Long term cap tax benefit exemption limit raised from Rs 1 lakh to Rs 1.25 lakh.
• Listed financial assets held for more than 1 year will be long term. Long term capital gains tax raised from 10% to 12.5%.