The 'Emergency Credit Line Guarantee Scheme' was launched to help MSMEs during: MCQ with Answer and Explanation

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The 'Emergency Credit Line Guarantee Scheme' was launched to help MSMEs during:

A. demonetization

B. COVID-19 pandemic

C. flood

D. drought

Answer: Option B

Solution (By JKSSB Mock Tests)

ECLGS was launched during the COVID-19 pandemic to provide credit to MSMEs.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Skill India Mission' was launched in which year?

A. 2017

B. 2015

C. 2014

D. 2016

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Correct Answer: Option B

Explanation:
Skill India Mission was launched in 2015.

This question belongs to: Economy GK Economy Set 1

Question #2

Tax Deduction at Source means:

A. tax is waived

B. the payer deducts tax at the time of payment and deposits it with the government

C. tax is paid by the employer after salary payment

D. the taxpayer pays tax after assessment

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Correct Answer: Option B

Explanation:
TDS requires the payer to deduct tax at source and deposit it with the government.

This question belongs to: Economy GK Economy Set 1

Question #3

A cess imposed by the Union Government is levied:

A. only on income

B. only on imports

C. only on luxury goods

D. for a specific purpose

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Correct Answer: Option D

Explanation:
A cess is levied for a specific purpose and must be used for that purpose.

This question belongs to: Economy GK Economy Set 1

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