The 'Goods and Services Tax' on actionable claims such as lottery, betting and gambling is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on actionable claims such as lottery, betting and gambling is:

A. 18%

B. 12%

C. 28%

D. 5%

Answer: Option C

Solution (By JKSSB Mock Tests)

Actionable claims like lottery, betting and gambling attract 28% GST.

This question belongs to: Economy GK Economy Set 1

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The 'National Smart Grid Mission' aims to:

A. promote tourism

B. build roads

C. modernize the power grid

D. provide housing

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Correct Answer: Option C

Explanation:
The National Smart Grid Mission aims to modernize the electricity grid.

This question belongs to: Economy GK Economy Set 1

Question #2

The term 'Open Market Operations' are conducted by the RBI to:

A. Fix the long-term fiscal deficit target

B. Regulate the stock market directly

C. Manage liquidity and influence short-term interest rates

D. Determine tax rates

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Correct Answer: Option C

Explanation:
Open Market Operations involve the buying and selling of government securities by the RBI to inject or absorb liquidity and thereby influence money market interest rates.

This question belongs to: Economy GK Economy Set 1

Question #3

The Bharatmala Pariyojana is related to:

A. development of national highways and roads

B. expansion of railways

C. development of ports

D. airport modernization

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Correct Answer: Option A

Explanation:
Bharatmala Pariyojana is a national highways and road development programme.

This question belongs to: Economy GK Economy Set 1

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