The 'Finance Secretary' in India is under the: MCQ with Answer and Explanation

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The 'Finance Secretary' in India is under the:

A. Ministry of Commerce

B. Ministry of Finance

C. NITI Aayog

D. RBI

Answer: Option B

Solution (By JKSSB Mock Tests)

Finance Secretary is the administrative head of the Ministry of Finance.

This question belongs to: Economy GK Economy Set 1

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Question #1

The canon of equity in taxation means that:

A. tax should be economical to collect

B. persons with higher ability should pay more taxes

C. tax rate should be uniform for all

D. tax should be convenient to pay

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Correct Answer: Option B

Explanation:
The canon of equity requires taxation based on ability to pay, so the richer pay more.

This question belongs to: Economy GK Economy Set 1

Question #2

Green GDP is an indicator that adjusts GDP for:

A. population growth

B. inflation

C. environmental degradation and natural resource depletion

D. foreign debt

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Correct Answer: Option C

Explanation:
Green GDP adjusts conventional GDP for environmental degradation and natural resource depletion.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Clean Development Mechanism' under the Kyoto Protocol allows developed countries to:

A. increase emissions

B. avoid all climate action

C. earn emission reduction credits by investing in projects in developing countries

D. tax developing countries

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Correct Answer: Option C

Explanation:
CDM allows developed countries to earn Certified Emission Reductions by financing emission reduction projects in developing countries.

This question belongs to: Economy GK Economy Set 1

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