The 'Rangarajan Committee' on poverty submitted its report in which year? MCQ with Answer and Explanation

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The 'Rangarajan Committee' on poverty submitted its report in which year?

A. 2018

B. 2014

C. 2011

D. 2016

Answer: Option B

Solution (By JKSSB Mock Tests)

The Rangarajan Committee on poverty submitted its report in 2014.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Liberalised Remittance Scheme' of RBI allows resident individuals to remit up to how much per financial year?

A. USD 10,000

B. USD 1,00,000

C. USD 25,000

D. USD 2,50,000

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Correct Answer: Option D

Explanation:
Under LRS, resident individuals can remit up to USD 2,50,000 per financial year for permitted transactions.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Bank for International Settlements' is headquartered in:

A. Zurich

B. Geneva

C. Basel

D. London

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Correct Answer: Option C

Explanation:
The Bank for International Settlements is headquartered in Basel, Switzerland.

This question belongs to: Economy GK Economy Set 1

Question #3

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In the context of international trade, 'Most Favoured Nation' (MFN) treatment means:

A. Equal trade treatment to all member countries

B. Preferential treatment to one country only

C. Higher tariffs for all countries

D. Ban on imports from certain countries

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Correct Answer: Option A

Explanation:
MFN principle under WTO requires that any advantage granted to one member country must be extended to all other members, ensuring non-discrimination.

This question belongs to: Economy GK Economy Set 1

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