Which prograrnme gave the slogan, Garibi Hatao ?

• 4th Five Year Plan
• 5th Five year plan
• 6th Five Year Plan
• 7th Five year plan
Solution
Correct Option: B  [ 5th Five year plan ]

Explanation:

Government imposes taxes to:

• run the machinery of State
• uplift of weaker sections
• check the accumulation of wealth among the rich
• None of the above
Solution
Correct Option: A  [ run the machinery of State ]

Explanation:

Which of the following is not the part of non-statutory welfare measure ?

• Health
• Education
• Transport
• Employees compensation
Solution
Correct Option: C  [ Transport ]

Explanation:

The basic regulatory authority for mutual funds and stock markets lies with the:

• Stock exchanges
• Government of India
• Reserve Bank of India
• Securities and Exchange Board of India.
Solution
Correct Option: D  [ Securities and Exchange Board of India. ]

Explanation:

Which of the following pairs is/are incorrectly matched?

i. Finance Commission	: Constitutional of India
ii. Securities and Exchange Board of India	: Statutory Body
iii. NITI Aayog	: Constitutional Body
iv. Reserve Bank of India	: Statutory Body

Select the correct answer using the codes given below.

• (i) and (iii) only
• (ii) and (iv) only
• (iii) only
• (iv) only
Solution
Correct Option: C  [ (iii) only ]

Explanation:

A closed economy is an economy in which:

• the money supply is fully controlled
• deficit financing takes place
• only exports take place
• Neither exports nor imports take place.
Solution
Correct Option: D  [ Neither exports nor imports take place. ]

Explanation:

The Special Economic Zones Act was passed by the Indian Parliament in 2005 and the Act came into force in:

• 2006
• 2009
• 2010
• 2012
Solution
Correct Option: A  [ 2006 ]

Explanation:

Existence of huge black money creates

• increase in the inequality of income
• decrease in the quality of output
• high living standard for all
• Both (B) and (C)
Solution
Correct Option: A  [ increase in the inequality of income ]

Explanation:

Which one of the following is an indirect tax levied by the Central Government in India ?

• Service tax
• Corporate Income tax
• Profession tax
• Agricultural Income tax
Solution
Correct Option: A  [ Service tax ]

Explanation:

GST abolishes which of the following taxes ?

• Corporation tax
• Service tax
• Income tax
• Wealth tax
Solution
Correct Option: B  [ Service tax ]

Explanation: