The 'GST Council' is chaired by the Union Finance Minister and includes which other representatives? MCQ with Answer and Explanation

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The 'GST Council' is chaired by the Union Finance Minister and includes which other representatives?

A. SEBI chairman

B. state finance ministers

C. RBI governor

D. all state chief ministers

Answer: Option B

Solution (By JKSSB Mock Tests)

The GST Council includes state finance ministers as members, chaired by the Union Finance Minister.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is a major source of agricultural credit in India?

A. Stock exchanges

B. Foreign institutional investors only

C. Commercial banks, cooperative banks and Regional Rural Banks

D. Mutual funds

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Correct Answer: Option C

Explanation:
Institutional agricultural credit in India is primarily provided by commercial banks, cooperative banks and Regional Rural Banks, with refinancing support from NABARD.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Goods and Services Tax' Council decisions are implemented by:

A. SEBI

B. Supreme Court

C. RBI

D. central and state governments through respective GST laws

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Correct Answer: Option D

Explanation:
Central and state governments implement GST Council recommendations through their GST laws.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Tendulkar Committee' was constituted in which year?

A. 2013

B. 2005

C. 2000

D. 2009

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Correct Answer: Option B

Explanation:
The Tendulkar Committee was constituted in 2005.

This question belongs to: Economy GK Economy Set 1

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