The 'Minimum Wages Act' applies to: MCQ with Answer and Explanation

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The 'Minimum Wages Act' applies to:

A. only factory workers

B. only informal sector

C. scheduled employments including agricultural and industrial workers

D. only government employees

Answer: Option C

Solution (By JKSSB Mock Tests)

Minimum Wages Act applies to scheduled employments including agriculture and industry.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Finance Minister' who presented the 1991 budget and launched economic reforms was:

A. Yashwant Sinha

B. Manmohan Singh

C. Jaswant Singh

D. P. Chidambaram

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Correct Answer: Option B

Explanation:
Manmohan Singh, as Finance Minister, presented the 1991 budget that launched reforms.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on gym and fitness services is:

A. 12%

B. 28%

C. 5%

D. 18%

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Correct Answer: Option D

Explanation:
Gym and fitness services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a non-debt capital receipt?

A. Treasury bills issued

B. Disinvestment proceeds

C. External loans

D. Borrowings from the market

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Correct Answer: Option B

Explanation:
Disinvestment proceeds are non-debt capital receipts as they involve sale of assets and do not create a future repayment liability.

This question belongs to: Economy GK Economy Set 1

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