The 'GST compensation cess' was originally applicable for how many years from 2017? MCQ with Answer and Explanation

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The 'GST compensation cess' was originally applicable for how many years from 2017?

A. 15 years

B. 2 years

C. 10 years

D. 5 years

Answer: Option D

Solution (By JKSSB Mock Tests)

GST compensation cess was initially applicable for five years from 2017 to 2022, later extended.

This question belongs to: Economy GK Economy Set 1

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Question #1

In the IS-LM framework, an increase in government expenditure shifts the:

A. IS curve to the right

B. IS curve to the left

C. LM curve to the left

D. LM curve to the right

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Correct Answer: Option A

Explanation:
An increase in government spending raises aggregate demand, shifting the IS curve to the right, leading to higher income and interest rates in the short run.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Foreign Portfolio Investor' route in India is regulated by:

A. IRDAI

B. PFRDA

C. SEBI

D. RBI only

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Correct Answer: Option C

Explanation:
Foreign Portfolio Investors are regulated by SEBI.

This question belongs to: Economy GK Economy Set 1

Question #3

The First Five Year Plan of India was based on the:

A. Mahalanobis model

B. Harrod-Domar model

C. Nehru model

D. Gandhian model

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Correct Answer: Option B

Explanation:
The First Five Year Plan was based on the Harrod-Domar model.

This question belongs to: Economy GK Economy Set 1

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