Multiple choice

Which of the following statement is not correct in relation to the Union Budget 2007-08?

  1. Tax on dividend distributed by companies hiked from 12·5% to 15%

  2. Banking cash transaction Tax exemption limit increased from Rs. 25,000 to 50,000

  3. Rs. 2500 crore allocated for National Scholarship Scheme for students of Class IX to XII

  4. Education Cess on all taxes increased from 2% to 3%

  5. Budget created special funds to boost the production of Rubber, Coffee and Spices
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The statement regarding the allocation of Rs. 2500 crore for the National Scholarship Scheme for Class IX to XII is incorrect as it does not match the actual budget figures for that specific year.

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