The 'New Development Bank' was established by BRICS in which year? MCQ with Answer and Explanation

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The 'New Development Bank' was established by BRICS in which year?

A. 2014

B. 2016

C. 2015

D. 2012

Answer: Option A

Solution (By JKSSB Mock Tests)

The New Development Bank was established by BRICS in 2014 and began operations in 2015.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Central Goods and Services Tax' is levied by:

A. state governments

B. local bodies

C. central government

D. GST Council

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Correct Answer: Option C

Explanation:
CGST is levied by the central government on intra-state supply.

This question belongs to: Economy GK Economy Set 1

Question #2

The total expenditure of the government is divided into:

A. plan and non-plan expenditure only

B. direct and indirect expenditure

C. revenue expenditure and capital expenditure

D. mandatory and voluntary expenditure

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Correct Answer: Option C

Explanation:
Total government expenditure is classified into revenue expenditure and capital expenditure.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'National Industrial Classification' is used in India for:

A. population census

B. classifying economic activities

C. tax collection

D. stock trading

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Correct Answer: Option B

Explanation:
NIC classifies economic activities for statistical purposes.

This question belongs to: Economy GK Economy Set 1

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