The 'Factories Act' in India was enacted in which year? MCQ with Answer and Explanation

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The 'Factories Act' in India was enacted in which year?

A. 1956

B. 1948

C. 1950

D. 1947

Answer: Option B

Solution (By JKSSB Mock Tests)

The Factories Act was enacted in 1948.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'base erosion and profit shifting' framework is an initiative of:

A. WTO

B. World Bank

C. IMF

D. OECD and G20

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Correct Answer: Option D

Explanation:
BEPS is an OECD/G20 initiative against tax avoidance by multinational enterprises.

This question belongs to: Economy GK Economy Set 1

Question #2

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The term 'core inflation' was coined because it excludes items with:

A. high import content

B. high weight in CPI

C. high price volatility such as food and fuel

D. high tax rates

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Correct Answer: Option C

Explanation:
Core inflation excludes volatile food and fuel prices to reveal underlying inflation.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'GST' compensation cess was collected to compensate states for how many years from 2017?

A. 10 years

B. 2 years

C. 15 years

D. 5 years

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Correct Answer: Option D

Explanation:
Compensation cess was initially for five years (2017-2022), later extended.

This question belongs to: Economy GK Economy Set 1

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