The 'Forward Markets Commission' was merged with which organization in 2015? MCQ with Answer and Explanation

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The 'Forward Markets Commission' was merged with which organization in 2015?

A. NITI Aayog

B. RBI

C. SEBI

D. IRDAI

Answer: Option C

Solution (By JKSSB Mock Tests)

The Forward Markets Commission was merged with SEBI in 2015.

This question belongs to: Economy GK Economy Set 1

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Question #1

Which of the following is a feature of the 'Ricardian Equivalence Theorem'?

A. Tax cuts financed by debt do not affect private consumption because agents anticipate future tax liabilities

B. Tax cuts financed by debt increase private consumption

C. Government debt is always neutral regardless of agents’ behaviour

D. Only liquidity-constrained agents matter

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Correct Answer: Option A

Explanation:
Ricardian equivalence asserts that, under certain conditions, debt-financed tax cuts do not stimulate consumption because forward-looking agents save the tax cut to pay the future taxes needed to service the debt.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Pradhan Mantri Jan Dhan Yojana' accounts were opened primarily to:

A. collect taxes

B. provide loans to large companies

C. promote savings and financial inclusion

D. promote stock trading

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Correct Answer: Option C

Explanation:
PMJDY aims at financial inclusion through zero-balance savings accounts.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on export of services is:

A. 28%

B. zero-rated

C. 18%

D. 5%

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Correct Answer: Option B

Explanation:
Export of services is zero-rated under GST.

This question belongs to: Economy GK Economy Set 1

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