The 'GST' compensation cess was collected to compensate states for how many years from 2017? MCQ with Answer and Explanation

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The 'GST' compensation cess was collected to compensate states for how many years from 2017?

A. 2 years

B. 10 years

C. 5 years

D. 15 years

Answer: Option C

Solution (By JKSSB Mock Tests)

Compensation cess was initially for five years (2017-2022), later extended.

This question belongs to: Economy GK Economy Set 1

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The term 'Green Field Investment' refers to:

A. Investment in existing companies through stock markets

B. Mergers and acquisitions only

C. Setting up of new production facilities from scratch

D. Portfolio investment in bonds

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Correct Answer: Option C

Explanation:
Greenfield investment is a form of foreign direct investment where a parent company establishes new operations and facilities in a foreign country from the ground up.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a feature of 'Privacy-Enhancing Technologies'?

A. Only encryption without any other tools

B. Technical methods that allow data to be used while minimising the exposure of personal information

C. Only complete data anonymisation that destroys all utility

D. Technologies that maximise data collection without safeguards

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Correct Answer: Option B

Explanation:
Privacy-enhancing technologies (PETs) comprise a range of technical approaches—such as differential privacy, homomorphic encryption and secure multi-party computation—that enable data analysis while protecting individual privacy.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a characteristic of the Indian financial system?

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B. Only one regulator for all financial markets

C. Absence of regulatory institutions

D. Complete self-regulation without government oversight

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Correct Answer: Option A

Explanation:
India's financial system is regulated by multiple specialised bodies: RBI for banking, SEBI for capital markets, IRDAI for insurance and PFRDA for pensions.

This question belongs to: Economy GK Economy Set 1

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