The Reserve Tranche Position in India's forex reserves refers to: MCQ with Answer and Explanation

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The Reserve Tranche Position in India's forex reserves refers to:

A. SDR holdings

B. India's quota subscription to IMF paid in foreign currency that can be drawn without conditions

C. gold held by RBI

D. foreign currency assets held abroad

Answer: Option B

Solution (By JKSSB Mock Tests)

The Reserve Tranche Position is India's IMF quota subscription held in foreign currency.

This question belongs to: Economy GK Economy Set 1

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The 'Employees' Provident Funds and Miscellaneous Provisions Act' was enacted in which year?

A. 1948

B. 1952

C. 1956

D. 1961

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Correct Answer: Option B

Explanation:
EPF Act was enacted in 1952.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on property management services is:

A. 12%

B. 28%

C. 18%

D. 5%

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Correct Answer: Option C

Explanation:
Property management services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' zero rating on exports means:

A. exports are taxed at 5%

B. exports are taxed at zero rate and input tax credit is allowed

C. exports are banned

D. exports are exempt with no input tax credit

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Correct Answer: Option B

Explanation:
Zero-rated supplies are taxed at 0% and allow input tax credit refunds.

This question belongs to: Economy GK Economy Set 1

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