The government has set the target to distribute 8 cr LPG cylinders to the households under the Ujjwala scheme. So far Government has distributed 6 cr cylinders under this scheme.

Wealth tax is the direct tax which is imposed on the assets (House, rented buildings etc) of the Individual. Other direct taxes are corporation tax, income tax and wealth tax.

The Parliament of India

As on October 2019, the current rate of cash reserve ratio (CRR) is at 4%, Policy Repo Rate @ 5.15%, Reverse Repo Rate @ 4.90%, Marginal Standing Facility Rate @ 5.40% and Bank Rate @ 5.40%.

Four

Reverse Repo Rate

in 2019-20, the biggest items of government’s revenue receipt are the GST and corporation tax. The Government receives 21%-21% income from each tax.

5 to 7

As regards punishment for making or melting or destructing coins, the maximum punishment of imprisonment of seven years as proposed in the Bill is less than the maximum punishment of imprisonment of ten years under the relevant provisions of the Indian Penal Code (IPC), 1860, which is also the punishment applicable for offences relating to counterfeiting currency notes.

HDFC

The President of the World Bank Group is the head of the World Bank Group. ‘David Malpass’ is the Incumbent President of the World Bank Group. He is on the post since April 9, 2019. David has replaced Jim Yong Kim.

All the above

Purchasing Power Parity (PPP)

In India, income tax is imposed at the digressive rate. Under the digressive rate, the rate of tax increases as the income increases initially while after a certain level of income it becomes proportionate. In India, the rate of tax on income up to Rs. 10 lakh increases while the tax rate becomes proportionate after the 10 lac. However, the Government imposes a surcharge on those earning more than Rs.50 lakh.

On August 30, 2019, the Finance Minister of India announced to merge 10 Public Sector Banks into 4 big Public Sector banks. After this merger now the number of Public Sector Banks comes down to 12 from 27 of 2017.

The labour ministry has approved that 8.65% interest rate will be paid to Employees’ Provident Fund (EPF)for FY 2018-19.