The 'Goods and Services Tax' was first introduced in India through which amendment? MCQ with Answer and Explanation

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The 'Goods and Services Tax' was first introduced in India through which amendment?

A. 99th Constitutional Amendment

B. 102nd Constitutional Amendment

C. 100th Constitutional Amendment

D. 101st Constitutional Amendment

Answer: Option D

Solution (By JKSSB Mock Tests)

GST was introduced through the 101st Constitutional Amendment Act, 2016.

This question belongs to: Economy GK Economy Set 1

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Question #1

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In the context of Indian banking, the term 'Priority Sector Lending' includes advances to:

A. Only large industrial houses

B. Agriculture, micro and small enterprises, education and housing

C. Only infrastructure projects by private companies

D. Only export-oriented units

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Correct Answer: Option B

Explanation:
Priority Sector Lending targets sectors such as agriculture, micro, small and medium enterprises, education, housing, social infrastructure and renewable energy.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'headline inflation' is the measure that:

A. excludes fuel

B. only includes services

C. includes all items in the price index

D. excludes all food items

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Correct Answer: Option C

Explanation:
Headline inflation includes all items in the price index.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'National Human Rights Commission' is a:

A. private body

B. judicial body

C. constitutional body

D. statutory body

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Correct Answer: Option D

Explanation:
NHRC is a statutory body under the Protection of Human Rights Act, 1993.

This question belongs to: Economy GK Economy Set 1

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