The 'direct tax' includes which of the following? MCQ with Answer and Explanation

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The 'direct tax' includes which of the following?

A. Income tax

B. Customs duty

C. GST

D. Excise duty

Answer: Option A

Solution (By JKSSB Mock Tests)

Income tax is a direct tax.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The Gadgil formula was used for:

A. distribution of central plan assistance among states

B. allocation of bank credit

C. determining agricultural prices

D. sharing of income tax

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Correct Answer: Option A

Explanation:
The Gadgil formula was used to allocate central plan assistance among states.

This question belongs to: Economy GK Economy Set 1

Question #2

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Which of the following is a major challenge for the Indian economy?

A. Regional disparities and unemployment

B. High level of human development across all states equally

C. Complete self-sufficiency in all goods

D. Absence of informal sector

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Correct Answer: Option A

Explanation:
Regional disparities in development and persistent unemployment (especially youth and disguised unemployment) remain significant challenges for the Indian economy.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Special Economic Zones Act' was enacted in India in which year?

A. 2000

B. 2005

C. 2006

D. 2010

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Correct Answer: Option B

Explanation:
The SEZ Act was enacted in 2005.

This question belongs to: Economy GK Economy Set 1

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