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

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The 'Integrated Goods and Services Tax Act' was passed in which year?

A. 2016

B. 2015

C. 2017

D. 2018

Answer: Option C

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

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The 'GDP at constant prices' in India uses which base year?

A. 2011-12

B. 2004-05

C. 2015-16

D. 2019-20

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Correct Answer: Option A

Explanation:
India's GDP constant price series currently uses base year 2011-12.

This question belongs to: Economy GK Economy Set 1

Question #2

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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

Question #3

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The 'Logistic Performance Index' is published by:

A. UNCTAD

B. World Bank

C. WTO

D. IMF

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Correct Answer: Option B

Explanation:
The Logistics Performance Index is published by the World Bank.

This question belongs to: Economy GK Economy Set 1

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