In India, present trend of rapid urbanization is due to:

• lack of employment opportunities in rural areas
• influence of cinema and electronic media
• break up of joint family system
• abolition of zamindari tystem
Solution
Correct Option: A  [ lack of employment opportunities in rural areas ]

Explanation:

In India, Special Economic Zones were established to enhance:

• Technology Development
• Free Trade
• Foreign Investment
• Employment
Solution
Correct Option: B  [ Free Trade ]

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:

Which organisation looks after the credit need of agriculture and rural development in India ?

• FCI
• IDBI
• NABARD
• ICAR
Solution
Correct Option: C  [ NABARD ]

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:

The period of high inflation and low economic growth is termed as:

• Stagnation
• Take-off stage in economy
• Stagflation
• Depression
Solution
Correct Option: C  [ Stagflation ]

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:

Parallel economy refers to:

• Traditional economy
• Black money
• Agriculture based economy
• Socialist economy
Solution
Correct Option: B  [ Black money ]

Explanation:

The World Trade Organisation has replaced which organisation ?

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

Explanation:

Which of the following does not come under the GST in India ?

• Agricultural products
• Handicrafts
• Gems and jewelries
• Petroleum products
Solution
Correct Option: D  [ Petroleum products ]

Explanation: