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

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The 'Goods and Services Tax' on solar panels is:

A. 18%

B. 12%

C. 5%

D. 28%

Answer: Option C

Solution (By JKSSB Mock Tests)

Solar panels and modules attract 5% GST.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The term 'Reverse Repo Rate' is used by the RBI to:

A. Absorb excess liquidity from the banking system

B. Determine the fiscal deficit

C. Inject liquidity into the system

D. Fix the long-term interest rates only

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Correct Answer: Option A

Explanation:
Under the reverse repo window, the RBI absorbs excess liquidity from banks by borrowing funds from them at the reverse repo rate.

This question belongs to: Economy GK Economy Set 1

Question #2

The concept of 'Accelerator' in economics relates to:

A. Relationship between tax rate and revenue

B. Relationship between interest rate and saving

C. Relationship between money supply and prices

D. Relationship between change in income and change in investment

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Correct Answer: Option D

Explanation:
The accelerator principle states that investment depends on the rate of change of income or output. An increase in demand leads to a magnified increase in investment.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'National Manufacturing Policy' was released in which year?

A. 2005

B. 2014

C. 2017

D. 2011

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Correct Answer: Option D

Explanation:
The National Manufacturing Policy was released in 2011.

This question belongs to: Economy GK Economy Set 1

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