The 'Goods and Services Tax' rate on IT services is: MCQ with Answer and Explanation

Explanation:
Public Account includes funds held by government in fiduciary capacity, like provident funds and small savings.

Explanation:
High import tariffs on inputs used in export production raise costs and discourage exports. Export promotion measures include subsidies, duty drawbacks and SEZs.

Explanation:
The FRBM Act aims to ensure fiscal discipline, inter-generational equity in fiscal management and long-term macroeconomic stability by setting targets for deficit reduction.