The 'Central Goods and Services Tax Act' was passed in which year? MCQ with Answer and Explanation

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The 'Central Goods and Services Tax Act' was passed in which year?

A. 2018

B. 2016

C. 2015

D. 2017

Answer: Option D

Solution (By JKSSB Mock Tests)

CGST Act was passed in 2017.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'MUDRA' loans are extended to:

A. large industries

B. micro and small enterprises

C. state governments

D. multinational corporations

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Correct Answer: Option B

Explanation:
MUDRA provides loans to micro and small enterprises.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'RuPay' card is a product of:

A. National Payments Corporation of India

B. SBI

C. RBI

D. SEBI

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Correct Answer: Option A

Explanation:
RuPay card is an Indian payment card product of NPCI.

This question belongs to: Economy GK Economy Set 1

Question #3

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Moral suasion by the RBI refers to:

A. persuasion and advice to banks to follow monetary policy objectives

B. raising reserve requirements

C. buying securities from banks

D. legal penalties on banks

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Correct Answer: Option A

Explanation:
Moral suasion is a non-statutory instrument of persuasion by the RBI to influence bank behaviour.

This question belongs to: Economy GK Economy Set 1

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