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

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The 'Goods and Services Tax' on fertilizers is:

A. 5%

B. 18%

C. 0%

D. 12%

Answer: Option A

Solution (By JKSSB Mock Tests)

Fertilizers attract 5% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Revenue deficit is calculated as:

A. revenue receipts minus revenue expenditure

B. total expenditure minus total receipts

C. revenue expenditure minus revenue receipts

D. fiscal deficit minus primary deficit

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Correct Answer: Option C

Explanation:
Revenue deficit is revenue expenditure minus revenue receipts.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Think Tank' of the Government of India for economic policy is:

A. SEBI

B. NITI Aayog

C. RBI

D. Finance Commission

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Correct Answer: Option B

Explanation:
NITI Aayog acts as the premier policy think tank of the Government of India.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'World Economic Forum' publishes which report?

A. Global Financial Stability Report

B. World Development Report

C. Global Competitiveness Report

D. World Economic Outlook

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Correct Answer: Option C

Explanation:
WEF publishes the Global Competitiveness Report.

This question belongs to: Economy GK Economy Set 1

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