The 'Goods and Services Tax' on Jan Dhan accounts is: MCQ with Answer and Explanation

The 'Goods and Services Tax' on Jan Dhan accounts is:
A. 5%
B. exempt
C. 18%
D. 0%
Answer: Option B
Solution (By JKSSB Mock Tests)
Basic savings bank deposit accounts under PMJDY are exempt from GST.

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Practice More Economy Set 1 Questions

Question #1
Which of the following is a measure of absolute poverty commonly used in India?
A. Poverty line based on calorie norms and consumption expenditure
B. Gini coefficient
C. Lorenz curve
D. Relative income share of the bottom 10%

Correct Answer: Option A


Explanation:
India has traditionally used a poverty line based on minimum calorie requirements and corresponding consumption expenditure to measure absolute poverty.

This question belongs to: Economy GK Economy Set 1
Question #2
The concept of 'Effective Demand' in Keynesian economics determines:
A. Only the interest rate
B. Only the price level
C. Only the money supply
D. The level of employment and output

Correct Answer: Option D


Explanation:
According to Keynes, the level of effective demand (where aggregate demand equals aggregate supply) determines the equilibrium level of employment and output.

This question belongs to: Economy GK Economy Set 1
Question #3
The Reserve Bank of India was established in 1935 under the:
A. Companies Act, 1956
B. Banking Regulation Act, 1949
C. Reserve Bank of India Act, 1934
D. Negotiable Instruments Act, 1881

Correct Answer: Option C


Explanation:
The RBI was established under the Reserve Bank of India Act, 1934.

This question belongs to: Economy GK Economy Set 1