The 'MSME Development Act' was enacted in which year? MCQ with Answer and Explanation

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The 'MSME Development Act' was enacted in which year?

A. 2000

B. 2015

C. 2010

D. 2006

Answer: Option D

Solution (By JKSSB Mock Tests)

The MSME Development Act was enacted in 2006.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Biological Diversity Act' was enacted in which year?

A. 2010

B. 2000

C. 2002

D. 2006

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Correct Answer: Option C

Explanation:
The Biological Diversity Act was enacted in 2002.

This question belongs to: Economy GK Economy Set 1

Question #2

The term 'Repo Rate' is the rate at which:

A. RBI borrows from commercial banks

B. Commercial banks borrow from the RBI against collateral of government securities

C. Banks lend to each other in the call market

D. Government borrows from the public

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Correct Answer: Option B

Explanation:
Repo rate is the interest rate at which the RBI lends short-term funds to commercial banks against the collateral of government securities under the Liquidity Adjustment Facility.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on two-wheelers is:

A. 28% plus cess

B. 28%

C. 12%

D. 18%

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Correct Answer: Option B

Explanation:
Two-wheelers attract 28% GST.

This question belongs to: Economy GK Economy Set 1

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