Which of the following is a component of the capital account of India's balance of payments? MCQ with Answer and Explanation

Question
Which of the following is a component of the capital account of India's balance of payments?
A. Software service exports
B. Interest payments on external debt
C. Foreign direct investment and portfolio investment
D. Remittances from abroad
Answer: Option C
Solution (By JKSSB Mock Tests)
Foreign direct investment and portfolio investment are capital account transactions. Software exports, remittances and interest payments form part of the current account.
This question belongs to: Economy GK Economy Set 1
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Question #1
The 'Goods and Services Tax' on food in restaurants is generally:
A. 5%
B. 28%
C. 18%
D. 12%
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Correct Answer: Option A

Explanation:
Restaurant services generally attract 5% GST without input tax credit, but some categories differ.
This question belongs to: Economy GK Economy Set 1
Question #2
The 'zero-based budgeting' was first introduced in India in the budget of:
A. 2001-02
B. 1986-87
C. 1985-86
D. 1991-92
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Correct Answer: Option B

Explanation:
Zero-based budgeting was introduced in the Union Budget 1986-87.
This question belongs to: Economy GK Economy Set 1
Question #3
The 'National Education Policy 2020' aims to increase public investment in education to what percentage of GDP?
A. 3%
B. 10%
C. 6%
D. 8%
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Correct Answer: Option C

Explanation:
NEP 2020 aims to increase public investment in education to 6% of GDP.
This question belongs to: Economy GK Economy Set 1
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