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. flood

B. COVID-19 pandemic

C. demonetization

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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Practice More Economy Set 1 Questions

Question #1

The 'Goods and Services Tax' on long-term lease of industrial plots is:

A. 12%

B. 18%

C. 5%

D. 0%

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Correct Answer: Option B

Explanation:
Long-term lease of industrial plots attracts 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a feature of the 'Paris Agreement' on climate change?

A. A global framework under which countries submit nationally determined contributions to limit global warming

B. A legally binding set of identical emission targets for all countries

C. Only a voluntary declaration without any reporting requirements

D. A treaty limited to developed countries only

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Correct Answer: Option A

Explanation:
The Paris Agreement establishes a framework in which each party submits successive nationally determined contributions (NDCs) outlining its climate actions, with the collective aim of limiting global temperature rise.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a major source of tax revenue for the Central Government?

A. Only entertainment tax

B. Only property tax collected by local bodies

C. Only professional tax

D. Corporation tax, income tax and central GST

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Correct Answer: Option D

Explanation:
The major sources of central tax revenue include corporation tax, personal income tax, and the central share of GST, along with customs duties.

This question belongs to: Economy GK Economy Set 1

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