Banking Quiz for Canara Bank and Syndicate Bank PO Exam 2018 (Based on Union Budget 2018-19)

Dear Aspirants,

Banking Quiz for Canara Bank and Syndicate Bank PO Exam 2018

Banking Awareness for Canara Bank PO

With the increased competition in the field of banking examinations, it has now become very important to cover up all the sections efficiently. One subject that can help you bagging graceful marks in the minimum time in these examinations is Banking Awareness. Banking Awareness (Quiz based on Union Budget 2018-19) not only helps you deal with the General Awareness Section of Banking Exams but also, the Personal Interview round of Banking Recruitment.

Q1. In Union Budget 2018-19 FM Arun Jaitley has proposed to revise emoluments for the President to how much amount?   
(a) Rs. 10 lakh per month
(b) Rs. 7 lakh per month
(c) Rs. 5 lakh per month
(d) Rs. 3 lakh per month
(e) Rs. 16 lakh per month

S1. Ans.(c)
Sol. The Budget proposes to revise emoluments to Rs.5 lakh for the President, Rs 4 lakhs for the Vice President and Rs.3.5 lakh per month to Governor. These emoluments were last revised in 2006.

Q2. The Budget Revised Estimates for expenditure in 2017-18 are ________________ (net of GST compensation transfers to the States) as against the Budget Estimates of Rs.21.47 lakh crore.
(a) Rs. 21.57 lakh crore
(b) Rs. 21.67 lakh crore
(c) Rs. 21.77 lakh crore
(d) Rs. 21.87 lakh crore
(e) Rs. 21.97 lakh crore

S2. Ans.(a)
Sol. The Budget Revised Estimates for expenditure in 2017-18 are Rs.21.57 lakh crore (net of GST compensation transfers to the States) as against the Budget Estimates of Rs.21.47 lakh crore.

Q3. In Union Budget 2018-19 FM Arun Jaitley has proposed to revise emoluments for the vice president to how much amount?   
(a) 6 lakh per month
(b) 5 lakh per month
(c) 2 lakh per month
(d) 3 lakh per month
(e) 4 lakh per month

S3. Ans.(e)
Sol. The Budget proposes to revise emoluments to Rs.5 lakh for the President, Rs 4 lakhs for the Vice President and Rs.3.5 lakh per month to Governor. These emoluments were last revised in 2006.

Q4. Finance Minister projected a Fiscal Deficit of ________ of GDP for the year 2018-19. 
(a) 3.1%
(b) 3.3%
(c) 3.2%
(d) 3.4%
(e) 3.6%

S4. Ans.(b)
Sol. Continuing Government’s path of fiscal reduction and consolidation, the Finance Minister projected a Fiscal Deficit of 3.3% of GDP for the year 2018-19. The Revised Fiscal Deficit estimates for 2017-18 were put at Rs. 5.95 lakh crore at 3.5% of GDP. He (Arun Jaitley) also proposed acceptance of key recommendations of the Fiscal Reform and Budget Management Committee to bring down Central Government’s Debt to GDP ratio to 40%.

Q5. In Union Budget 2018-19 FM Arun Jaitley has proposed to revise emoluments for the Governor to how much amount?
(a) Rs. 5.5 lakh per month
(b) Rs. 4.5 lakh per month
(c) Rs. 2.5 lakh per month
(d) Rs. 3.5 lakh per month
(e) Rs. 1.5 lakh per month

S5. Ans.(d)
Sol. The Budget proposes to revise emoluments to Rs.5 lakh for the President, Rs 4 lakhs for the Vice President and Rs.3.5 lakh per month to Governor. These emoluments were last revised in 2006.

Q6. FM Arun Jaitley has proposed acceptance of key recommendations of the Fiscal Reform and Budget Management Committee to bring down Central Government’s Debt to GDP ratio to-
(a) 20%
(b) 30%
(c) 50%
(d) 60%
(e) 40%

S6. Ans.(e)
Sol. FM Arun Jaitley has proposed acceptance of key recommendations of the Fiscal Reform and Budget Management Committee to bring down Central Government’s Debt to GDP ratio to 40%.

Q7. Finance Ministry has proposed how much percent deduction to companies registered as Farmer Producer Companies with an annual turnover upto Rs. 100 crore on profit derived from such activities, for a period of five years from financial year 2018-19?
(a) 10%
(b) 80%
(c) 90%
(d) 100%
(e) 50%

S7. Ans.(d)
Sol. Jaitley has proposed 100 percent deduction to companies registered as Farmer Producer Companies with an annual turnover upto Rs. 100 crore on profit derived from such activities, for a period of five years from financial year 2018-19.

Q8. The Budget proposals also seek to provide relief to salaried tax payers by allowing a Standard Deduction of _________ in place of the present exemption allowed for transport allowance and reimbursement of miscellaneous medical expenses.
(a) Rs. 50,000
(b) Rs. 20,000
(c) Rs. 40,000
(d) Rs. 60,000
(e) Rs. 80,000

S8. Ans.(c)
Sol. The Budget proposals also seek to provide relief to salaried tax payers by allowing a Standard Deduction of Rs. 40,000 in place of the present exemption allowed for transport allowance and reimbursement of miscellaneous medical expenses.

Q9. In union budget 2018-19, exemption of interest income on deposits with banks and post offices are proposed to be increased from Rs. 10,000 to- 
(a) Rs. 40,000
(b) Rs. 50,000
(c) Rs. 60,000
(d) Rs. 20,000
(e) Rs. 30,000

S9. Ans.(b)
Sol. Exemption of interest income on deposits with banks and post offices are proposed to be increased from Rs. 10,000 to Rs. 50,000. TDS shall not be required to be deducted under section 194A. Benefit will also be available for interest from all fixed deposit schemes and recurring deposit schemes.

Q10. Turning to rationalization of LTCG, the Finance Minister has noted buoyancy in the equity market, as a result of reforms and incentives given so far. LTCG stands for-
(a) Long Term Capital Gains
(b) Long Term Capital General
(c) Long Term Core Gains
(d) Long Term Company Gains
(e) Long Term Capital Giants

S10. Ans.(a)
Sol. Turning to rationalization of Long Term Capital Gains (LTCG), the Finance Minister noted buoyancy in the equity market, as a result of reforms and incentives given so far.

Q11. In order to take care of the education and health care needs of Below Poverty Line (BPL) and rural families, The Budget proposes to increase the cess on personal income tax and corporation tax to __________ percent from the present 3 percent.
(a) 3.5 per cent
(b) 4.5 per cent
(c) 4.0 per cent
(d) 5.5 per cent
(e) 5.0 per cent

S11. Ans.(c)
Sol. In order to take care of the education and health care needs of Below Poverty Line (BPL) and rural families, The Budget proposes to increase the cess on personal income tax and corporation tax to 4 percent from the present 3 percent. The new cess will be called the “Health and Education Cess” and is expected to lead to a collection of an estimated additional amount of Rs. 11,000 crore.

Q12. According to Union Budget 2018-19, the Government is confident that loans to SHGs will increase to ___________ crore by March 2019.
(a) Rs.75,000 crore
(b) Rs.25,000 crore
(c) Rs.50,000 crore
(d) Rs.60,000 crore
(e) Rs.90,000 crore

S12. Ans.(a)
Sol. Further, the Government substantially increased the allocation of National Rural Livelihood Mission to Rs. 5750 crore in 2018-19. Shri Jaitley said that loans to Self Help Groups (SHGs) of women increased to about Rs. 42,500 crore in 2016-17, growing 37% over previous year. The Government is confident that loans to SHGs will increase to Rs.75,000 crore by March, 2019, the Minister added.

Q13. Strengthening the Ground water irrigation scheme under Prime Minister Krishi Sinchai Yojna- Har Khet ko Pani – the Government allocated how much amount for this purpose?
(a) Rs. 1,800 crore
(b) Rs. 5,700 crore
(c) Rs. 6,300 crore
(d) Rs. 8,100 crore
(e) Rs. 2,600 crore

S13. Ans.(e)
Sol. Strengthening the Ground water irrigation scheme under Prime Minister Krishi Sinchai Yojna - Har Khet ko Pani – the Government allocated Rs 2600 crore for this purpose. This would provide assured irrigation in 96 deprived irrigation districts where less than 30% of the land holdings get that presently.

Q14. How many projects have been sanctioned under Namami Gange Programme for infrastructure development, reverse surface cleaning, rural sanitation and other interventions at a cost of Rs.16,713 crore in union budget 2018-19?
(a) 221 projects
(b) 187 projects
(c) 320 projects
(d) 514 projects
(e) 680 projects

S14. Ans.(b)
Sol. The Finance Minister also announced that 187 projects have been sanctioned under Namami Gange Programme for infrastructure development, reverse surface cleaning, rural sanitation and other interventions at a cost of Rs.16,713 crore. 47 projects have been completed and remaining projects are at various stages of execution All 4465 Ganga Grams villages on the bank of river have been declared open defecation free.

Q15. The budgetary and extra budgetary expenditure for the Sector has been increased from Rs.4.94 lakh crore in 2017-18 to ___________ lakh crore in 2018-19.
(a) Rs.10.12 lakh crore
(b) Rs.35.34 lakh crore
(c) Rs.15.17 lakh crore
(d) Rs.5.97 lakh crore
(e) Rs.21.23 lakh crore

S15. Ans.(d)
Sol. The Government has enhanced allocation for the Infrastructure Sector in the Union Budget 2018-19, recognizing its role as the growth driver of the economy. The budgetary and extra budgetary expenditure for the Sector has been increased from Rs.4.94 lakh crore in 2017-18 to Rs.5.97 lakh crore in 2018-19.


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