The 'GST Council' can recommend which of the following? MCQ with Answer and Explanation

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The 'GST Council' can recommend which of the following?

A. customs duties on imports

B. income tax rates

C. taxes to be subsumed under GST

D. corporate tax rates

Answer: Option C

Solution (By JKSSB Mock Tests)

GST Council recommends taxes to be subsumed and GST rates.

This question belongs to: Economy GK Economy Set 1

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Question #1

Which of the following is a feature of the Indian public sector enterprises?

A. Complete absence of social objectives

B. No role in strategic sectors

C. Presence of both commercial and social objectives

D. Only profit maximisation without any public purpose

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Correct Answer: Option C

Explanation:
Public sector enterprises in India have historically pursued a combination of commercial viability and broader social and strategic objectives.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Pension Fund Regulatory and Development Authority' is a:

A. private company

B. government department

C. constitutional body

D. statutory body

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Correct Answer: Option D

Explanation:
PFRDA is a statutory body established under the PFRDA Act, 2013.

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. Nehru model

C. Gandhian model

D. Harrod-Domar model

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Correct Answer: Option D

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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