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. Gadgil Committee

B. Narasimham Committee

C. RBI

D. Kelkar Task Force on FRBM? Actually Chelliah Committee

Answer: Option D

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

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The 'National Education Policy 2020' aims to increase public investment in education to what percentage of GDP?

A. 3%

B. 10%

C. 8%

D. 6%

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Correct Answer: Option D

Explanation:
NEP 2020 aims to increase public investment in education to 6% of GDP.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Bretton Woods system' of fixed exchange rates collapsed in which decade?

A. 1950s

B. 1990s

C. 1970s

D. 1980s

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Correct Answer: Option C

Explanation:
The Bretton Woods system collapsed in the early 1970s.

This question belongs to: Economy GK Economy Set 1

Question #3

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The Rolling Plan concept was introduced in India during:

A. First Plan

B. Janata Party government after the Fifth Plan

C. Eighth Plan

D. Third Plan

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Correct Answer: Option B

Explanation:
The Janata government introduced the Rolling Plan after the Fifth Five Year Plan.

This question belongs to: Economy GK Economy Set 1

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