The 'Integrated Goods and Services Tax Act' was passed in which year? MCQ with Answer and Explanation

Question
The 'Integrated Goods and Services Tax Act' was passed in which year?
A. 2016
B. 2017
C. 2015
D. 2018
Answer: Option B
Solution (By JKSSB Mock Tests)
IGST Act was passed in 2017.
This question belongs to: Economy GK Economy Set 1
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Question #1
The 'Atal New India Challenge' is an initiative of:
A. Ministry of Defence
B. Atal Innovation Mission, NITI Aayog
C. Ministry of Finance
D. SEBI
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Correct Answer: Option B

Explanation:
Atal New India Challenge is an initiative of Atal Innovation Mission under NITI Aayog.
This question belongs to: Economy GK Economy Set 1
Question #2
The 'Kuznets curve' hypothesizes that income inequality:
A. rises continuously with growth
B. first rises then falls with economic development
C. falls continuously with growth
D. is unrelated to growth
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Correct Answer: Option B

Explanation:
The Kuznets curve suggests inequality first increases and later decreases as an economy develops.
This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following is a feature of 'Privacy-Enhancing Technologies'?
A. Technical methods that allow data to be used while minimising the exposure of personal information
B. Only complete data anonymisation that destroys all utility
C. Only encryption without any other tools
D. Technologies that maximise data collection without safeguards
Discuss
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Correct Answer: Option A

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
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