Gilt-edged market means:

• Market of government securities
• Bullion market
• Market of commodities
• Market of pure metals
Solution
Correct Option: A  [ Market of government securities ]

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:

Major part of the Indian agriculture is characterized by

• Large size farm
• Capitalist agriculture
• Small size farm
• Co-operative farm
Solution
Correct Option: C  [ Small size farm ]

Explanation:

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:

Which of the following benefits is covered under social security schemes ?

• Retirement benefits
• Medical facility
• Compensation facilities
• All of the above
Solution
Correct Option: D  [ All of the above ]

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:

What is the 'Repo rate' ?

• It is the rate at which International Aid Agencies lend to RBI
• It is the rate at which the banks lend to RBI
• It is the rate at which RBI borrows from the market
• It is the rate at which RBI lends to banks
Solution
Correct Option: D  [ It is the rate at which RBI lends to banks ]

Explanation:

The World Trade Organisation has replaced which organisation ?

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

Explanation:

Consider the following statements regarding the Goods and Services Tax (GST) of India:

(i) GST is a successor to VAT used in India on the supply of goods and services.

(ii) GST came into effect from 1st July, 2017 through the implementation of the one hundred and first Amendment of the Constitution of India.

(iii) Every decision of the GST Council is to be taken by a majority of not less than three fourths of the weighted votes of the members present and voting at the meeting.

(iv) The GST Council is chaired by the Prime Minister of India.

Select the correct statement/statements using the codes given below.

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

Explanation:

When two or more persons working jointly on the basis of a common plan of action, then it is called:

• Co-operation
• Collaboration
• Co-ordination
• Consulting
Solution
Correct Option: B  [ Collaboration ]

Explanation: