In India, the repo rate is decided by: MCQ with Answer and Explanation

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In India, the repo rate is decided by:

A. Finance Minister

B. NITI Aayog

C. Monetary Policy Committee

D. RBI Governor

Answer: Option C

Solution (By JKSSB Mock Tests)

The Monetary Policy Committee of the RBI decides the policy repo rate.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'shadow economy' refers to:

A. unreported economic activities outside the formal sector

B. stock market

C. formal sector activities

D. banking sector

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Correct Answer: Option A

Explanation:
The shadow economy consists of unreported economic activities.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' exemption limit for registration of service providers is:

A. Rs 10 lakh

B. Rs 50 lakh

C. Rs 20 lakh

D. Rs 40 lakh

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Correct Answer: Option C

Explanation:
General GST registration threshold for services is Rs 20 lakh (Rs 10 lakh in special category states).

This question belongs to: Economy GK Economy Set 1

Question #3

The term 'core inflation' was coined because it excludes items with:

A. high import content

B. high price volatility such as food and fuel

C. high weight in CPI

D. high tax rates

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Correct Answer: Option B

Explanation:
Core inflation excludes volatile food and fuel prices to reveal underlying inflation.

This question belongs to: Economy GK Economy Set 1

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