The 'Directorate General of Foreign Trade' is under which ministry? MCQ with Answer and Explanation

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The 'Directorate General of Foreign Trade' is under which ministry?

A. Ministry of Home Affairs

B. Ministry of Commerce and Industry

C. Ministry of External Affairs

D. Ministry of Finance

Answer: Option B

Solution (By JKSSB Mock Tests)

DGFT operates under the Ministry of Commerce and Industry.

This question belongs to: Economy GK Economy Set 1

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Question #1

Demand-pull inflation is caused by:

A. aggregate demand exceeding aggregate supply at full employment

B. a fall in money supply

C. an increase in production costs

D. decrease in government expenditure

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Correct Answer: Option A

Explanation:
Demand-pull inflation occurs when aggregate demand exceeds aggregate supply.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' rate on luxury cars is:

A. 5%

B. 28%

C. 18%

D. 12%

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Correct Answer: Option B

Explanation:
Luxury cars attract 28% GST plus cess.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Startup India Seed Fund Scheme' provides:

A. pension to workers

B. seed funding to startups

C. loans to large companies

D. subsidies to farmers

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Correct Answer: Option B

Explanation:
Startup India Seed Fund Scheme provides seed funding to startups.

This question belongs to: Economy GK Economy Set 1

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