The first Narasimham Committee of 1991 was appointed to recommend reforms in: MCQ with Answer and Explanation

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The first Narasimham Committee of 1991 was appointed to recommend reforms in:

A. agricultural pricing

B. the financial system and banking sector

C. indirect taxes

D. capital markets only

Answer: Option B

Solution (By JKSSB Mock Tests)

The Narasimham Committee was appointed to recommend financial system and banking sector reforms.

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 real estate under-construction properties is:

A. 5% or 1% for affordable housing

B. 0%

C. 12%

D. 18%

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Correct Answer: Option A

Explanation:
Under-construction residential properties attract 5% GST (1% for affordable housing without ITC).

This question belongs to: Economy GK Economy Set 1

Question #2

The 'National Housing Bank' is a subsidiary of:

A. NABARD

B. SEBI

C. SIDBI

D. Reserve Bank of India

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Correct Answer: Option D

Explanation:
The National Housing Bank is a wholly owned subsidiary of the RBI.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'National Commission for Scheduled Castes' is constituted under which article?

A. Article 342

B. Article 340

C. Article 338

D. Article 341

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Correct Answer: Option C

Explanation:
The National Commission for Scheduled Castes is constituted under Article 338.

This question belongs to: Economy GK Economy Set 1

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