The 'National Single Window System' in India is intended to: MCQ with Answer and Explanation

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The 'National Single Window System' in India is intended to:

A. provide a single digital portal for business approvals

B. collect taxes

C. facilitate imports only

D. regulate banks

Answer: Option A

Solution (By JKSSB Mock Tests)

The National Single Window System provides a single portal for business approvals and clearances.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The concept of 'Pareto Efficiency' implies that:

A. No reallocation can make one person better off without making someone else worse off

B. All markets are perfectly competitive

C. Resources can be reallocated to make someone better off without making anyone worse off

D. Income is equally distributed

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Correct Answer: Option A

Explanation:
A Pareto efficient allocation is one where it is impossible to make any individual better off without making at least one individual worse off.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'GST Council' is chaired by the Union Finance Minister and includes which other representatives?

A. RBI governor

B. SEBI chairman

C. all state chief ministers

D. state finance ministers

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Correct Answer: Option D

Explanation:
The GST Council includes state finance ministers as members, chaired by the Union Finance Minister.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Vote on Account' is generally taken for a period of:

A. three years

B. two months or up to six months

C. one year

D. five years

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Correct Answer: Option B

Explanation:
Vote on Account authorizes expenditure for part of the year, generally two months.

This question belongs to: Economy GK Economy Set 1

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