1.	A sustained rise in the general price level in an economy is called ___________ ?
	Disinflation
	Deflation
	Inflation
	Stagflation
	Answer: Inflation Explanation: Inflation :- Inflation refers to the state when the price of the goods and services is kept on increasing. When the general price level rises, each unit of currency will buy fewer goods and services, finally decreasing the purchasing power of the currency.
	View Answer Discuss in Forum Report Question

2.	GST council is headed by ?
	Union Finance Minister
	CAG
	RBI Governor
	Prime Minister
	Answer: Union Finance Minister Explanation: The council is headed by the union finance minister Nirmala Sitharaman assisted with the finance minister of all the states of India.
	View Answer Discuss in Forum Report Question

3.	In which year, the first Gender Budget Statement appeared in the Union Budget of India ?
	2001-02
	2005-06
	2010-11
	2007-08
	Answer: 2005-06 Explanation: In 2005-06 the first gender Budgeting Cell budget was introduced in parliament. In December 2004, the Department of Economic Affairs, Ministry of Finance, issued instructions to all Ministries and Departments to establish a ' Gender Budgeting Cell' by 1st January 2005.
	View Answer Discuss in Forum Report Question

4.	The financial resources of an economy cannot be mobilized by _____ ?
	Public Savings
	Individual Savings
	Taxation
	Inflation
	Answer: Inflation Explanation: The financial resources of an economy cannot be mobilized by Inflation. It can be mobilized by Public Savings, Initial savings taxation etc.
	View Answer Discuss in Forum Report Question

5.	Which among the following regarding GST is correct ?
	GST network was formed under Companies Act
	The 100th Amendment introduced GST in the country
	Centre holds 100 per cent stake in GST network
	GST council is a statutory body
	Answer: GST network was formed under Companies Act Explanation: Goods & Services Tax Council is a constitutional body for making recommendations to the Union and State Government on issues related to Goods and Service Tax. The GST in the country was introduced through the 101st amendment. As of October 2019, the Centre will own a 50 per cent stake in the GST Network and the remainder will be held by the states on a pro-rata basis in the new structure.
	View Answer Discuss in Forum Report Question

6.	Who among the following is responsible for preparation of National Income estimates in India ?
	Central Statistical Organization
	IRDA
	Finance Commission
	NITI Aayog
	Answer: Central Statistical Organization Explanation: Central Statistical Organization, working under Ministry of Statistics and Programme Implementation is responsible for preparation of National Income estimates in India.
	View Answer Discuss in Forum Report Question

7.	Which among the following indirect taxes is charged by the Central Government ?
	Service Tax
	Luxury tax
	Purchase tax
	Taxes on Lottery
	Answer: Service Tax Explanation: Indirect taxes are those taxes which can be transferred to another person. Service tax comes under the central government whereas all others options are state government taxes.
	View Answer Discuss in Forum Report Question

8.	A situation where the expenditure of the government exceeds its revenue is known as ______ ?
	Default
	Devaluation
	Deficit Financing
	Morbidity
	Answer: Deficit Financing Explanation: A situation where the expenditure of the government exceeds its revenue is known as Deficit financing. To make up with this deficit the government ge nerally disinvest, borrowing of loSol or minting of new currency.
	View Answer Discuss in Forum Report Question

9.	Under which Amendment to the Constitution of India was Goods and Services Tax imposed ?
	101st
	99th
	103rd
	97th
	Answer: 101st Explanation: The Constitution (One Hundred and First Amendment) Act, 2016, introduced Goods and Services Tax (GST) in India which came into effect from 1 July 2017. It replaces all indirect taxes levied on goods and services by the Central and state governments with a single nation wide tax.
	View Answer Discuss in Forum Report Question

10.	GST was introduced by which amendment act of the Constitution ?
	102
	107
	101
	106
	Answer: 101 Explanation: GST was introduced by 101st Constitutional Amendment Act.
	View Answer Discuss in Forum Report Question

«
1
2(curent)
3
4
5
»