The 'SAARC Preferential Trading Arrangement' became operational in which year? MCQ with Answer and Explanation

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The 'SAARC Preferential Trading Arrangement' became operational in which year?

A. 2000

B. 2005

C. 1990

D. 1995

Answer: Option D

Solution (By JKSSB Mock Tests)

SAPTA became operational in 1995.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Index of Industrial Production' in India is released by:

A. NITI Aayog

B. Ministry of Finance

C. RBI

D. Ministry of Statistics and Programme Implementation

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Correct Answer: Option D

Explanation:
IIP is released by MoSPI.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'GST compensation cess' is levied on which goods?

A. all goods

B. luxury and sin goods

C. agricultural produce only

D. essential food items

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Correct Answer: Option B

Explanation:
GST compensation cess is levied on luxury and sin goods.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on agricultural implements is:

A. 18%

B. 5%

C. 12%

D. 0%

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Correct Answer: Option B

Explanation:
Agricultural implements generally attract 5% GST, with some exemptions.

This question belongs to: Economy GK Economy Set 1

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