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

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NITI Aayog was established in 2015 to replace:

A. Economic Advisory Council

B. Finance Commission

C. National Development Council

D. Planning Commission

Answer: Option D

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

The 'Pradhan Mantri Jeevan Jyoti Bima Yojana' provides:

A. life insurance

B. vehicle insurance

C. crop insurance

D. health insurance

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Correct Answer: Option A

Explanation:
PMJJBY provides life insurance cover.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on life insurance premiums is:

A. 5%

B. 0%

C. 12%

D. 18%

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Correct Answer: Option D

Explanation:
Life insurance premiums attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

The concept of 'Housing as a Human Right' implies that:

A. Adequate housing is regarded as a fundamental entitlement that states have obligations to respect, protect and fulfil

B. Housing is only a private market commodity without any rights dimension

C. Only home ownership is a right

D. Only the absence of any public housing policy

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Correct Answer: Option A

Explanation:
The recognition of housing as a human right, grounded in international human-rights instruments, entails obligations on states to ensure progressive access to adequate, affordable and secure housing for all.

This question belongs to: Economy GK Economy Set 1

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