In the context of Indian banking, the term 'Priority Sector Lending' includes advances to: MCQ with Answer and Explanation

In the context of Indian banking, the term 'Priority Sector Lending' includes advances to:
A. Only infrastructure projects by private companies
B. Agriculture, micro and small enterprises, education and housing
C. Only large industrial houses
D. Only export-oriented units
Answer: Option B
Solution (By JKSSB Mock Tests)
Priority Sector Lending targets sectors such as agriculture, micro, small and medium enterprises, education, housing, social infrastructure and renewable energy.

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Practice More Economy Set 1 Questions

Question #1
The natural rate of unemployment includes:
A. only disguised unemployment
B. frictional and structural unemployment
C. only open unemployment
D. cyclical and seasonal unemployment

Correct Answer: Option B


Explanation:
The natural rate of unemployment consists of frictional and structural unemployment.

This question belongs to: Economy GK Economy Set 1
Question #2
Veblen goods are demanded mainly because:
A. they have many substitutes
B. their price is low
C. they are necessities
D. high price confers prestige or status

Correct Answer: Option D


Explanation:
Veblen goods are conspicuous consumption goods where a higher price increases their status value.

This question belongs to: Economy GK Economy Set 1
Question #3
The 'GST Council' can recommend which of the following?
A. taxes to be subsumed under GST
B. corporate tax rates
C. income tax rates
D. customs duties on imports

Correct Answer: Option A


Explanation:
GST Council recommends taxes to be subsumed and GST rates.

This question belongs to: Economy GK Economy Set 1