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. IRDAI

B. NITI Aayog

C. RBI

D. SEBI

Answer: Option D

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 measure of economic inequality?

A. Human Development Index as a pure inequality measure

B. Only unemployment rate

C. Only GDP growth rate

D. Gini coefficient, Lorenz curve and Theil index

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Correct Answer: Option D

Explanation:
The Gini coefficient, Lorenz curve and Theil index are standard measures used to quantify the degree of inequality in the distribution of income or wealth.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'GST Council' is a constitutional body under which article?

A. Article 246A

B. Article 324

C. Article 280

D. Article 279A

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Correct Answer: Option D

Explanation:
The GST Council is constituted under Article 279A.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is the formula for calculating fiscal deficit?

A. Total expenditure − Total receipts excluding borrowings

B. Capital expenditure − Capital receipts

C. Total expenditure − Total receipts including borrowings

D. Revenue expenditure − Revenue receipts

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Correct Answer: Option A

Explanation:
Fiscal deficit = Total expenditure − (Revenue receipts + Non-debt capital receipts). It indicates the total borrowing requirement of the government.

This question belongs to: Economy GK Economy Set 1

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