The 'Goods and Services Tax' on electricity transmission and distribution is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on electricity transmission and distribution is:

A. 5%

B. not under GST

C. 18%

D. 0%

Answer: Option B

Solution (By JKSSB Mock Tests)

Electricity transmission and distribution are outside GST.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

In the context of economic growth, the Harrod-Domar model emphasises the role of:

A. Technological progress only

B. Labour force growth only

C. Savings and capital-output ratio

D. Natural resources only

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Correct Answer: Option C

Explanation:
The Harrod-Domar model states that the growth rate of an economy depends on the savings rate and the capital-output ratio (or inverse of the productivity of capital).

This question belongs to: Economy GK Economy Set 1

Question #2

The term 'Primary Market' in the capital market refers to:

A. Market for issue of new securities

B. Market for short-term funds only

C. Market for agricultural commodities

D. Market for trading existing securities

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Correct Answer: Option A

Explanation:
The primary market is the market where new securities are issued by companies or governments for the first time to raise capital. The secondary market deals with existing securities.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'National Initiative for Developing and Harnessing Innovations' supports:

A. innovation and entrepreneurship

B. banking technology

C. defence manufacturing only

D. agricultural research only

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Correct Answer: Option A

Explanation:
NIDHI supports innovation and entrepreneurship.

This question belongs to: Economy GK Economy Set 1

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