The 'Goods and Services Tax' was first proposed in India by: MCQ with Answer and Explanation

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The 'Goods and Services Tax' was first proposed in India by:

A. RBI

B. Gadgil Committee

C. Kelkar Task Force on FRBM? Actually Chelliah Committee

D. Narasimham Committee

Answer: Option C

Solution (By JKSSB Mock Tests)

GST was first proposed by the Chelliah Committee on tax reforms, not Kelkar.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' on goods and services is a tax on:

A. property

B. consumption

C. income

D. wealth

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Correct Answer: Option B

Explanation:
GST is a tax on consumption of goods and services.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Rashtriya Madhyamik Shiksha Abhiyan' was launched in:

A. 2012

B. 2014

C. 2005

D. 2009

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Correct Answer: Option D

Explanation:
Rashtriya Madhyamik Shiksha Abhiyan was launched in 2009.

This question belongs to: Economy GK Economy Set 1

Question #3

The Banking Ombudsman is appointed by:

A. Finance Minister

B. Indian Banks' Association

C. President

D. Reserve Bank of India

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Correct Answer: Option D

Explanation:
The RBI appoints Banking Ombudsmen to resolve customer complaints against banks.

This question belongs to: Economy GK Economy Set 1

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