The 'Public Provident Fund' is a: MCQ with Answer and Explanation

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The 'Public Provident Fund' is a:

A. foreign exchange instrument

B. short-term trading instrument

C. current account

D. long-term small savings scheme

Answer: Option D

Solution (By JKSSB Mock Tests)

Public Provident Fund is a long-term small savings scheme.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Annual Information Statement' in income tax is:

A. a statement of specified financial transactions

B. a bank statement

C. a statement of taxes only

D. a statement of foreign travel

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Correct Answer: Option A

Explanation:
AIS is a statement of specified financial transactions.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Union Budget' is presented under which article of the Constitution?

A. Article 112

B. Article 110

C. Article 265

D. Article 280

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Correct Answer: Option A

Explanation:
The Annual Financial Statement is presented under Article 112.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Union Budget' is presented in Parliament by the:

A. Finance Secretary

B. Finance Minister

C. Prime Minister

D. President

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Correct Answer: Option B

Explanation:
The Union Budget is presented by the Finance Minister.

This question belongs to: Economy GK Economy Set 1

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