The 'Goods and Services Tax' revenue from IGST is shared between: MCQ with Answer and Explanation

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The 'Goods and Services Tax' revenue from IGST is shared between:

A. centre only

B. local bodies

C. states only

D. centre and states as per GST law

Answer: Option D

Solution (By JKSSB Mock Tests)

IGST is collected by the centre and apportioned between centre and states.

This question belongs to: Economy GK Economy Set 1

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Question #1

Microfinance institutions primarily provide:

A. small collateral-free loans to low-income households

B. export finance

C. infrastructure finance

D. large corporate loans

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Correct Answer: Option A

Explanation:
Microfinance institutions provide small collateral-free loans to low-income clients.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Central Information Commission' is a:

A. constitutional body

B. private body

C. executive body

D. statutory body

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Correct Answer: Option D

Explanation:
The Central Information Commission is a statutory body under RTI Act.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of monetary policy, the 'Zero Lower Bound' problem refers to:

A. The minimum reserve requirement

B. The inability of nominal interest rates to fall significantly below zero

C. The floor on the fiscal deficit

D. The inability of real interest rates to be positive

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Correct Answer: Option B

Explanation:
The zero lower bound refers to the constraint that nominal interest rates cannot be reduced much below zero, limiting the effectiveness of conventional monetary policy in deep recessions.

This question belongs to: Economy GK Economy Set 1

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