NITI Aayog was established in 2015 to replace: MCQ with Answer and Explanation

Question
NITI Aayog was established in 2015 to replace:
A. Economic Advisory Council
B. National Development Council
C. Planning Commission
D. Finance Commission
Answer: Option C
Solution (By JKSSB Mock Tests)
NITI Aayog replaced the Planning Commission in 2015.
This question belongs to: Economy GK Economy Set 1
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Practice More Economy Set 1 Questions

Question #1
Which of the following is a feature of the 'Data Portability' right?
A. The complete prohibition on data transfers
B. Only the right to delete data
C. The right of individuals to receive their personal data in a structured, commonly used format and to transmit it to another controller
D. Only the right of platforms to retain all data
Discuss
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Correct Answer: Option C

Explanation:
Data portability, recognised in the GDPR and similar laws, allows individuals to obtain their personal data in a machine-readable format and to transfer it to another service provider, thereby reducing lock-in.
This question belongs to: Economy GK Economy Set 1
Question #2
The 'New Economic Policy 1991' devalued the rupee by about how much in two stages?
A. 18%
B. 50%
C. 5%
D. 30%
Discuss
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Correct Answer: Option A

Explanation:
In July 1991, the rupee was devalued by about 18% in two steps.
This question belongs to: Economy GK Economy Set 1
Question #3
In the context of project appraisal, a project is considered economically viable if:
A. Only financial costs are considered
B. Social costs are ignored
C. The present value of benefits exceeds the present value of costs
D. The present value of costs exceeds the present value of benefits
Discuss
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Correct Answer: Option C

Explanation:
In cost-benefit analysis, a project is viable when the discounted present value of its benefits exceeds the discounted present value of its costs (positive net present value).
This question belongs to: Economy GK Economy Set 1
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Which dance of Nagaland is performed during the 'Moatsu' festival?
The compound interest on Rs. 3000 at 8% per annum for 1 year compounded half-yearly is:
The Right to Education Act was enacted in:
Select the antonym of 'KNOTTY'.
A man buys a book for Rs. 150 and sells it for Rs. 180. What is the gain percent?