The 'Fiscal Responsibility and Budget Management Act' originally targeted elimination of revenue deficit by which year? MCQ with Answer and Explanation

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The 'Fiscal Responsibility and Budget Management Act' originally targeted elimination of revenue deficit by which year?

A. 2013-14

B. 2010-11

C. 2006-07

D. 2008-09

Answer: Option D

Solution (By JKSSB Mock Tests)

FRBM aimed to eliminate revenue deficit by 2008-09.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'GST' regime in India has subsumed which of the following state taxes?

A. Entry tax

B. Wealth tax

C. Income tax

D. Customs duty

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Correct Answer: Option A

Explanation:
GST subsumed state taxes like entry tax, purchase tax and VAT.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'PM Formalization of Micro Food Processing Enterprises' scheme is associated with which sector?

A. Textiles

B. Steel

C. Food processing

D. IT services

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Correct Answer: Option C

Explanation:
PM FME scheme supports micro food processing enterprises.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Ease of Doing Business Report' was published by:

A. IMF

B. World Bank

C. WTO

D. UNCTAD

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Correct Answer: Option B

Explanation:
The Ease of Doing Business Report was published by the World Bank.

This question belongs to: Economy GK Economy Set 1

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