The 'General Agreement on Trade in Services' came into force in which year? MCQ with Answer and Explanation

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The 'General Agreement on Trade in Services' came into force in which year?

A. 2005

B. 1995

C. 1994

D. 2000

Answer: Option B

Solution (By JKSSB Mock Tests)

GATS came into force in 1995 as part of WTO agreements.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'National Income Committee' was chaired by:

A. D.R. Gadgil

B. P.C. Mahalanobis

C. V.K.R.V. Rao

D. C.R. Krishnaswamy

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Correct Answer: Option B

Explanation:
The National Income Committee was chaired by P.C. Mahalanobis.

This question belongs to: Economy GK Economy Set 1

Question #2

The corporate tax rate for existing domestic companies that opted for concessional regime under Taxation Laws Amendment Act 2019 is:

A. 15%

B. 22%

C. 30%

D. 25%

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Correct Answer: Option B

Explanation:
The concessional corporate tax rate for existing domestic companies is 22% plus surcharge and cess.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'India-UAE Comprehensive Economic Partnership Agreement' came into force in which year?

A. 2021

B. 2023

C. 2022

D. 2020

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Correct Answer: Option C

Explanation:
India-UAE CEPA came into force in May 2022.

This question belongs to: Economy GK Economy Set 1

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