The 'Gift City' in Gujarat is an International Financial Services Centre that offers: MCQ with Answer and Explanation

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The 'Gift City' in Gujarat is an International Financial Services Centre that offers:

A. only domestic banking

B. tax incentives and international financial services

C. only commodity trading

D. only stock trading

Answer: Option B

Solution (By JKSSB Mock Tests)

GIFT City offers international financial services with tax and regulatory incentives.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'GST Council' has a secretariat located in:

A. Bengaluru

B. New Delhi

C. Mumbai

D. Gandhinagar

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Correct Answer: Option B

Explanation:
GST Council secretariat is in New Delhi.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Reserve Bank of India' was modelled on which central bank?

A. Bank of Japan

B. Federal Reserve System

C. European Central Bank

D. Bank of England

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Correct Answer: Option D

Explanation:
The RBI was modelled on the Bank of England.

This question belongs to: Economy GK Economy Set 1

Question #3

A progressive income tax is one where:

A. the tax rate increases as income rises

B. only the poor pay tax

C. the tax rate decreases as income rises

D. the tax rate is constant at all incomes

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Correct Answer: Option A

Explanation:
Under a progressive tax, the average tax rate rises as income increases.

This question belongs to: Economy GK Economy Set 1

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