The 'Goods and Services Tax' on life insurance under Pradhan Mantri Jeevan Jyoti Bima Yojana is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on life insurance under Pradhan Mantri Jeevan Jyoti Bima Yojana is:

A. 5%

B. 0%

C. exempt

D. 18%

Answer: Option C

Solution (By JKSSB Mock Tests)

PMJJBY premium is exempt from GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Goods and Services Tax' on renting of residential property for residential use is:

A. 0%

B. 5%

C. exempt

D. 18%

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Correct Answer: Option C

Explanation:
Renting residential property for residential use is exempt from GST.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'World Economic Outlook' is published by:

A. OECD

B. World Bank

C. IMF

D. UNCTAD

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Correct Answer: Option C

Explanation:
The World Economic Outlook is published by the IMF.

This question belongs to: Economy GK Economy Set 1

Question #3

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Which of the following is a major challenge in the Indian agricultural sector?

A. Uniform high productivity in all regions

B. Small and fragmented land holdings and dependence on monsoon

C. Complete absence of market risk

D. Excessive mechanisation across all farms

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Correct Answer: Option B

Explanation:
Indian agriculture faces structural challenges including predominance of small and fragmented holdings, monsoon dependence, and low productivity in many regions.

This question belongs to: Economy GK Economy Set 1

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