The 'Employees' State Insurance Corporation' provides which type of social security? MCQ with Answer and Explanation

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The 'Employees' State Insurance Corporation' provides which type of social security?

A. old age pension only

B. housing loans

C. health insurance, sickness and maternity benefits

D. education loans

Answer: Option C

Solution (By JKSSB Mock Tests)

ESIC provides health insurance, sickness, maternity and disability benefits to insured workers.

This question belongs to: Economy GK Economy Set 1

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Question #1

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In the context of Indian economy, the term 'Twin Balance Sheet Problem' referred to:

A. Only external and internal debt

B. Problems of government and household balance sheets

C. Stressed balance sheets of banks and corporates

D. Only fiscal and current account deficits

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Correct Answer: Option C

Explanation:
The twin balance sheet problem referred to the simultaneous stress on the balance sheets of banks (rising NPAs) and over-leveraged corporates in India during a particular period.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Central Board of Indirect Taxes and Customs' is a part of:

A. Ministry of Commerce

B. Ministry of Finance

C. RBI

D. SEBI

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Correct Answer: Option B

Explanation:
CBIC is part of the Ministry of Finance.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'reverse charge mechanism' under GST is applicable when:

A. a registered supplier sells to an unregistered recipient

B. the recipient is required to pay tax instead of the supplier

C. goods are imported only

D. goods are exported

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Correct Answer: Option B

Explanation:
Under reverse charge, the recipient pays GST instead of the supplier.

This question belongs to: Economy GK Economy Set 1

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