The 'Food Corporation of India' procures food grains at: MCQ with Answer and Explanation

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The 'Food Corporation of India' procures food grains at:

A. Minimum Support Price

B. free of cost

C. minimum export price

D. market price

Answer: Option A

Solution (By JKSSB Mock Tests)

FCI procures food grains at Minimum Support Price.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

In the context of economic reforms, 'Disinvestment' involves:

A. Increasing government stake in public sector enterprises

B. Complete closure of all public enterprises

C. Nationalisation of private firms

D. Sale of government equity in public sector enterprises

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Correct Answer: Option D

Explanation:
Disinvestment refers to the sale of government-held shares in public sector enterprises to private investors or the public, thereby reducing the government's ownership stake.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Consumer Price Index - Industrial Workers' is compiled by:

A. Labour Bureau

B. RBI

C. CSO

D. NITI Aayog

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Correct Answer: Option A

Explanation:
CPI-IW is compiled by the Labour Bureau.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on alcohol for human consumption is:

A. 0%

B. 18%

C. 5%

D. not under GST

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Correct Answer: Option D

Explanation:
Alcoholic liquor for human consumption is outside GST.

This question belongs to: Economy GK Economy Set 1

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