The 'Goods and Services Tax' on air freight is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on air freight is:

A. 28%

B. 12%

C. 5%

D. 18%

Answer: Option D

Solution (By JKSSB Mock Tests)

Air freight services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Pink Revolution' in India is associated with:

A. shrimp production

B. milk

C. onion and pharmaceutical production

D. wheat

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Correct Answer: Option C

Explanation:
Pink Revolution is associated with onion and pharmaceutical production.

This question belongs to: Economy GK Economy Set 1

Question #2

The concept of 'Crowding Out' is more likely to occur when:

A. The economy is in a deep recession with excess capacity

B. Monetary policy is highly accommodative

C. There is a liquidity trap

D. The economy is near full employment and interest rates rise due to government borrowing

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Correct Answer: Option D

Explanation:
Crowding out is more pronounced when the economy is close to full employment, as higher government borrowing raises interest rates and reduces private investment.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Saubhagya' scheme is implemented by which ministry?

A. Ministry of Housing

B. Ministry of Petroleum

C. Ministry of Rural Development

D. Ministry of Power

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Correct Answer: Option D

Explanation:
Saubhagya scheme is implemented by the Ministry of Power.

This question belongs to: Economy GK Economy Set 1

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