In India the Repo rate is announced by:

• the Ministry of Finance, Government of India
• the Prime Minister of India
• the Reserve Bank of India
• the President of India
Solution
Correct Option: C  [ the Reserve Bank of India ]

Explanation:

In Income Tax, Assessee is :

• a person who pays income tax
• a person who deducts income tax from its employees
• a person who prepares income tax Return of tax payers
• None of these
Solution
Correct Option: A  [ a person who pays income tax ]

Explanation:

The growth of per capita income of current prices is higher than that of per capita income at constant prices because the later takes into account the rate of

• growth of population
• increase in price level
• growth of money supply
• increase in the wage rate
Solution
Correct Option: B  [ increase in price level ]

Explanation:

Which among the following in India has the function of recommending Minimum Support Prices for various commodities to the Government ?

• National Farmers Commission
• Commission for Agricultural Costs and Prices
• Central Statistical organization
• Department of Agriculture
Solution
Correct Option: B  [ Commission for Agricultural Costs and Prices ]

Explanation:

NITI Aayog, which replaced the Planning commission of India, was formed by a cabinet resolution of the Government of Inda on:

• 1st January, 2015
• 26th January, 2015
• 15th August, 2015
• None of the above
Solution
Correct Option: A  [ 1st January, 2015 ]

Explanation:

GST abolishes which of the following taxes ?

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

Explanation:

Plan finance creates increase of money supply if there is

• increase in taxes
• increase in loan from the Reserve Bank of India
• increase in loan from commercial Banks
• increase in loan from general public
Solution
Correct Option: A  [ increase in taxes ]

Explanation:

'Economic Survey' is published by:

• The Ministry of Finance
• The Planning Commission
• The Government of India
• The Central Statistical Organization
Solution
Correct Option: A  [ The Ministry of Finance ]

Explanation:

"SEBI" stands for the:

• State Earnings Board of India
• Securities and Exchange Bank of India
• Securities and Exchange Board of India
• State Exchange Bank of India
Solution
Correct Option: C  [ Securities and Exchange Board of India ]

Explanation: The Securities and Exchange Board of India was constituted as a non-statutory body on April 12, 1988 through a resolution of the Government of India.
The Securities and Exchange Board of India was established as a statutory body in the year 1992

The World Trade Organisation has replaced which organisation ?

• ITO
• UNCTAD
• GATT
• OECD
Solution
Correct Option: C  [ GATT ]

Explanation: