MEDIUM
NDA & NA EE
IMPORTANT
Earn 100

Which of the following statement regarding Good and Service Tax is correct?
1. Initially, GST will not apply to petroleum crude, high-speed diesel, petrol and natural gas.
2. Tobacco and its product will be subjected to GST.
3. Alcoholic liquor will be free from GST.

50% studentsanswered this correctly

Important Questions on Indian Economy

MEDIUM
NDA & NA EE
IMPORTANT
Pathfinder NDA / NA National Defence Academy and Naval Academy Entrance Examination General Knowledge>Chapter 4 - Indian Economy>Practice Exercise>Q 63

Which of the following taxes is in descending order according to the amount collected by the government?

1. Income tax

2. Corporation tax

3. Service tax

4 . Excise duty

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NDA & NA EE
IMPORTANT
Pathfinder NDA / NA National Defence Academy and Naval Academy Entrance Examination General Knowledge>Chapter 4 - Indian Economy>Practice Exercise>Q 64
India is a member of the ongoing multilateral trade agreement discussion known as the Regional Comprehensive Economic Partnership. Along with India who others are also members of this group?
MEDIUM
NDA & NA EE
IMPORTANT
Pathfinder NDA / NA National Defence Academy and Naval Academy Entrance Examination General Knowledge>Chapter 4 - Indian Economy>Practice Exercise>Q 65

Which of the following statement is not correct regarding NITI Aayog?

1. It is a statutory body.

2. It has governing council comprised of Chief Ministers, Governors of Union Territories and Union Ministers.

3. Its advice is binding on the government.

4. Cabinet Secretary will be the CEO of NITI Aayog.

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NDA & NA EE
IMPORTANT
Pathfinder NDA / NA National Defence Academy and Naval Academy Entrance Examination General Knowledge>Chapter 4 - Indian Economy>Practice Exercise>Q 66
Which of the following statements is true about GST?
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NDA & NA EE
IMPORTANT
Pathfinder NDA / NA National Defence Academy and Naval Academy Entrance Examination General Knowledge>Chapter 4 - Indian Economy>Practice Exercise>Q 67
The Government of India has implemented a modified version of GAAR, from which of the following date?
MEDIUM
NDA & NA EE
IMPORTANT
Pathfinder NDA / NA National Defence Academy and Naval Academy Entrance Examination General Knowledge>Chapter 4 - Indian Economy>Practice Exercise>Q 68

Which of the following statement about 14th Finance Commission is correct?

1. The Commission recommended an increase in the share of states in the centre's tax revenue from the current 32% to 42%, the single largest increase ever recommended.

2. The 14th Finance Commission, headed by former RBI Governor YV Reddy, has called for an autonomous and independent GST compensation fund.

3. The 14th Finance Commission is of the view that tax devolution should be the primary route for the transfer of resources to the states.

MEDIUM
NDA & NA EE
IMPORTANT
Pathfinder NDA / NA National Defence Academy and Naval Academy Entrance Examination General Knowledge>Chapter 4 - Indian Economy>Practice Exercise>Q 69

When will Basel III be going to be fully implemented?

MEDIUM
NDA & NA EE
IMPORTANT
Pathfinder NDA / NA National Defence Academy and Naval Academy Entrance Examination General Knowledge>Chapter 4 - Indian Economy>Practice Exercise>Q 70
Which of the following scheme provide the insurance coverage and financial support to the farmers in the event of failure of crops and subsequent low crop yield?