The 'Minimum Wages Act' in India was enacted in which year? MCQ with Answer and Explanation

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The 'Minimum Wages Act' in India was enacted in which year?

A. 1956

B. 1950

C. 1947

D. 1948

Answer: Option D

Solution (By JKSSB Mock Tests)

The Minimum Wages Act was enacted in 1948.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' on salt is:

A. 18%

B. 12%

C. 0%

D. 5%

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Correct Answer: Option C

Explanation:
Common salt is exempt from GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Lokpal' in India is a:

A. judicial body

B. statutory body

C. private body

D. constitutional body

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Correct Answer: Option B

Explanation:
Lokpal is a statutory body established under the Lokpal and Lokayuktas Act, 2013.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Net National Product at factor cost' is also known as:

A. Disposable Income

B. National Income

C. Personal Income

D. Gross Domestic Product

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Correct Answer: Option B

Explanation:
National Income is NNP at factor cost.

This question belongs to: Economy GK Economy Set 1

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