The 'Union Territory GST' is applicable in union territories that do not have: MCQ with Answer and Explanation

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The 'Union Territory GST' is applicable in union territories that do not have:

A. their own legislature

B. a high court

C. a police force

D. a governor

Answer: Option A

Solution (By JKSSB Mock Tests)

UTGST applies in union territories without legislature, alongside CGST.

This question belongs to: Economy GK Economy Set 1

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Question #1

Which of the following is NOT a type of bank in the Indian banking system?

A. Regional Rural Banks

B. Shadow banks as scheduled commercial banks

C. Cooperative banks

D. Commercial banks

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Correct Answer: Option B

Explanation:
Shadow banks (NBFCs engaged in credit intermediation) are not scheduled commercial banks. The formal banking system includes commercial banks, cooperative banks and RRBs.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Sukanya Samriddhi Yojana' is a savings scheme for:

A. senior citizens

B. girl child

C. unemployed youth

D. farmers

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Correct Answer: Option B

Explanation:
Sukanya Samriddhi Yojana is a savings scheme for the girl child.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Public Provident Fund' is a:

A. short-term trading instrument

B. current account

C. foreign exchange instrument

D. long-term small savings scheme

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Correct Answer: Option D

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

This question belongs to: Economy GK Economy Set 1

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