The 'Goods and Services Tax' on metro rail travel is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on metro rail travel is:

A. 0%

B. 5%

C. 12%

D. 18%

Answer: Option B

Solution (By JKSSB Mock Tests)

Metro rail travel attracts 5% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The Narasimham Committee was associated with reforms in:

A. banking and financial sector

B. labour laws

C. agriculture

D. taxation

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Correct Answer: Option A

Explanation:
The Narasimham Committee recommended banking and financial sector reforms.

This question belongs to: Economy GK Economy Set 1

Question #2

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Which of the following is NOT a characteristic of developing countries?

A. Dependence on primary sector

B. High rate of capital formation

C. High population growth rate

D. Low per capita income

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Correct Answer: Option B

Explanation:
Developing countries typically have low rates of capital formation. High capital formation is a feature of developed economies.

This question belongs to: Economy GK Economy Set 1

Question #3

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In the context of monetary policy, 'Forward Guidance' refers to:

A. Only reserve requirements

B. Only changes in the current policy rate

C. Communication by the central bank about the likely future path of policy rates

D. Only quantitative easing

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Correct Answer: Option C

Explanation:
Forward guidance is a policy tool in which the central bank communicates its intentions regarding the future path of the policy rate or other policy instruments in order to influence longer-term rates and expectations.

This question belongs to: Economy GK Economy Set 1

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