The Narasimham Committee was associated with reforms in: MCQ with Answer and Explanation

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The Narasimham Committee was associated with reforms in:

A. banking and financial sector

B. taxation

C. labour laws

D. agriculture

Answer: Option A

Solution (By JKSSB Mock Tests)

The Narasimham Committee recommended banking and financial sector reforms.

This question belongs to: Economy GK Economy Set 1

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Question #1

National Electronic Funds Transfer is used mainly for:

A. stock market trading

B. batch-wise electronic transfer of retail funds

C. high-value real-time transfers only

D. international remittances

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Correct Answer: Option B

Explanation:
NEFT settles retail fund transfers in batches, unlike RTGS.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'capability approach' to development was propounded by:

A. Amartya Sen

B. Milton Friedman

C. Arthur Lewis

D. W.W. Rostow

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Correct Answer: Option A

Explanation:
Amartya Sen propounded the capability approach to development.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'GST compensation cess' was originally applicable for how many years from 2017?

A. 15 years

B. 2 years

C. 5 years

D. 10 years

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Correct Answer: Option C

Explanation:
GST compensation cess was initially applicable for five years from 2017 to 2022, later extended.

This question belongs to: Economy GK Economy Set 1

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