The 'Goods and Services Tax' on educational services by institutions is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on educational services by institutions is:

A. exempt

B. 5%

C. 18%

D. 0%

Answer: Option A

Solution (By JKSSB Mock Tests)

Educational services by recognized institutions are exempt from GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Atal Incubation Centre' scheme supports:

A. large industries

B. government departments

C. startups and entrepreneurs

D. foreign companies

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Correct Answer: Option C

Explanation:
Atal Incubation Centres support startups and entrepreneurs.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a major objective of monetary policy in India?

A. Maximising inflation

B. Maintaining price stability while keeping in mind the objective of growth

C. Promoting only imports

D. Maximising the fiscal deficit

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Correct Answer: Option B

Explanation:
Under the Monetary Policy Framework Agreement, the primary objective of the RBI is to maintain price stability while keeping in mind the objective of growth.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Small Industries Development Bank of India' was established in which year?

A. 1980

B. 1990

C. 2000

D. 1995

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Correct Answer: Option B

Explanation:
SIDBI was established in 1990.

This question belongs to: Economy GK Economy Set 1

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