The 'Goods and Services Tax' on carbonated water is: MCQ with Answer and Explanation

Question
The 'Goods and Services Tax' on carbonated water is:
A. 5%
B. 18%
C. 28% plus cess
D. 12%
Answer: Option C
Solution (By JKSSB Mock Tests)
Carbonated water and aerated drinks attract 28% GST plus cess.
This question belongs to: Economy GK Economy Set 1
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Question #1
In the context of Indian economy, the concept of 'Inclusive Growth' emphasises:
A. Growth only in the industrial sector
B. Growth that benefits all sections of society
C. Growth only in urban areas
D. Growth without any government intervention
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Correct Answer: Option B

Explanation:
Inclusive growth refers to economic growth that creates opportunities for all segments of the population and distributes the benefits of prosperity more equitably.
This question belongs to: Economy GK Economy Set 1
Question #2
Which of the following is a major structural challenge for the Indian economy?
A. Absence of an informal sector
B. Regional disparities, unemployment and informalisation of the workforce
C. Complete equality of income across regions
D. Self-sufficiency in all commodities without trade
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Correct Answer: Option B

Explanation:
The Indian economy continues to face structural challenges such as regional imbalances, unemployment and underemployment, and a large informal sector.
This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following is not a priority sector category?
A. Micro enterprises
B. Education
C. Housing loans above Rs 50 crore
D. Agriculture
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Correct Answer: Option C

Explanation:
Very large housing loans above prescribed limits are not part of priority sector lending.
This question belongs to: Economy GK Economy Set 1
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