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A Learning Portal from Recruitment India
In budget 2019-20, the government set the target to distribute……. LPG connections under the Ujjawala Yojna.
8 cr
9 cr
10 cr
11 cr
Answer with explanation
Answer: Option AExplanation
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.
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Which of the following is the direct tax in India?
Sales Tax
VAT
Wealth tax
Goods and Services Tax
Answer with explanation
Answer: Option CExplanation
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.
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The authorization for the withdrawal of funds from the consolidated Fund of India must come from:
The President of India
The Parliament of India
The Prime Minister of India
The Union Finance Minister
Answer with explanation
Answer: Option BExplanation
The Parliament of India
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As in October 2019, what is the current rate of cash reserve ratio (CRR)?
5.15%
4.75%
4%
5.4%
Answer with explanation
Answer: Option CExplanation
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%.
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What is the biggest item of income of the central government in the 2019-20 budget?
) Goods and Service Tax
(b) Corporation tax
(c) Borrowings and other liabilities
(d) a and b both are equal
Goods and Service Tax
Corporation tax
Borrowings and other liabilities(d) a and b both are equal
a and b both are equal
Answer with explanation
Answer: Option DExplanation
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.
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Imprisonment for melting or destructing coins is _______ years.
3 to 6
5 to 7
2 to 4
4 to 8
Answer with explanation
Answer: Option BExplanation
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.
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Who is the current chief of the World Bank Group?
Donald Tusk
David Malpass
Christine Lagarde
Jim Yong Kim
Answer with explanation
Answer: Option BExplanation
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.
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The National Judiciary Appointments Commission (NJAC) consists of the following persons?
Chief Justice of India
(b) Two senior-most Supreme Court judges
The Union Minister of Law and Justice
All the above
Answer with explanation
Answer: Option DExplanation
All the above
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According to the 2018-19 budget speech of Arun Jaitley, India is at the third rank on the basis of what?
Purchasing Power Parity (PPP)
Gross domestic product (GDP)
Agricultural ProductionD. Foreign Direct Investment (FDI)
Foreign Direct Investment (FDI)
Answer with explanation
Answer: Option AExplanation
Purchasing Power Parity (PPP)
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The rate in which the income tax is imposed in India is called…
Digressive rate
Progressive rate
Regressive rate
Proportionate rate
Answer with explanation
Answer: Option AExplanation
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.
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At present how many Public Sector Banks are in India?
12
21
17
27
Answer with explanation
Answer: Option AExplanation
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.
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What is the rate of interest on Employees’ Provident Fund (EPF) for 2018-19? 7.85%
(b) 9.25%
(c) 8.55%
(d) 8.65%
7.85%
9.25%
8.55%
8.65%
Answer with explanation
Answer: Option DExplanation
The labour ministry has approved that 8.65% interest rate will be paid to Employees’ Provident Fund (EPF)for FY 2018-19.
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