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- Question
What is the new rate slashed by GST Council for construction flats during its 34thGST Council?
Options- A. 5%
- B. 8%
- C. 12%
- D. 15%
- Correct Answer
- 5%
ExplanationUnion Finance Minister Arun Jaitley chaired 34th meeting of the Goods and Services Tax Council in New Delhi. It discussed the operational details for implementation of the recommendations made by the 33rd meeting of the council. The tax rate for under construction flats slashed to 5% and affordable homes to 1% without input tax credit (ITC) by the GST Council. Currently 12% GST is levied with input tax credit on payments made for under construction properties. It will be effective from April 1st. The council approved transition plan for new tax rates on residential properties. The developers of under construction buildings may either opt to shift to the revised lower rates without input tax credit or stick on to the previous rates.For housing projects launched after April 1st, the developers need to follow the new GST rates recommended by the Council. As per the council the changes will boost the real estate selling and ensure the rate cut benefits on to the middle class home buyers. - 1. As per latest estimate of Central Statistics Office, what is the rate of Indian economy for FY 19?
Options- A. 7.2%
- B. 7.3%
- C. 7.5%
- D. 7.6% Discuss
- 2. As per the Trade and Development Report of UNCTAD, what is the GDP growth of India for 2018?
Options- A. 7.0%
- B. 7.2%
- C. 6.8%
- D. 6.2% Discuss
- 3. India has boosted the Customs Duty on all the goods imported from Pakistan to how much percent?
Options- A. 180%
- B. 200%
- C. 150%
- D. 160% Discuss
- 4. Which company becomes India's largest tax payer in private sector?
Options- A. ICICI Bank
- B. Reliance Industries
- C. TCS
- D. Tata Steel Discuss
- 5. Global research agency Fitch has raised India's growth forecast from 7.4 per cent to __________.
Options- A. 7.6%
- B. 7.7%
- C. 7.8%
- D. 7.9% Discuss
- 6. According to a Morgan Stanley report, the GDP growth of India is:
Options- A. 8.0
- B. 7.5%
- C. 7.2%
- D. 6.8% Discuss
- 7. What is the revised interest rate of Employee's Provident Fund (EPF) for 2018-19?
Options- A. 8.45%
- B. 8.55%
- C. 8.35%
- D. 8.65% Discuss
- 8. Recently, the cerntral gvernment has announced a new coin with which of the denomination in 12-edged polygon shape?
Options- A. 20
- B. 10
- C. 5
- D. 1 Discuss
- 9. Commerce and Industry Minister Suresh Prabhu launched a logo and tagline for Geographical Indications (GI) to increase awareness about intellectual property rights (IPRs) in the country. The slogan for the GI tag is;
Options- A. Open the door for a New Strategy
- B. The New logistic revolutions
- C. Invaluable Treasures of Incredible India
- D. An iconic Logistic Experience Discuss
- 10. In which City does Prime Minister Narendra Modi launched laid foundation stone of Defence Corridor?
Options- A. Prayagraj
- B. Varanasi
- C. Lucknow
- D. Jhansi Discuss
Economy problems
Search Results
Correct Answer: 7.2%
Explanation:
The Central Statistics Office (CSO) has recently released the First advance estimates of National Income for the current fiscal FY 19, under the Ministry of Statistics and Programme Implementation. In it, Indian economy is expected to grow at 7.2% in FY19, against 6.7% in FY18, due to improvement in the performance of agriculture and manufacturing sectors. However, the CSO estimate is a bit lower than 7.4% growth projected by the Reserve Bank of India (RBI) for the current fiscal. According to the estimates, farm sector is set to grow at 3.8% against 3.4% last year, at constant or inflation-adjusted prices. At current prices, the sector expected to grow at an identical 3.8%, which could be emblematic of an agri-commodity price crash across wholesale mandis.
Correct Answer: 7.0%
Explanation:
The United Nations Conference on Trade and Development (UNCTAD) in its Trade and Development Report predicted the GDP growth of India for 2018 to be at 7%. Previously in 2017, it was 6.2%. According to the report, India's GDP grew 8.2% in the April-June quarter especially due to manufacturing and better farm sector performance. The main reasons for overall 7% growth are: Expansion in services and higher demand for exports.
Correct Answer: 200%
Explanation:
India with immediate effect has boosted the Customs Duty on all the goods imported from Pakistan to 200% followed by the day after India repealed Most Favoured Nation (MFN) status from Pakistan. This punitory move followed by the Pulwana Terrorist attack that led to the death of 42 CRPF (Central Reserve Police Force). This step is likely to strike Pakistan's exports to India which were $381 million in the April-Nov period and for overall FY18, it was $489 million. This 200% tariff rate is higher than the average bound rate of 113.5% for agriculture products and 34.6% for non-agriculture products. The MFN applied rates are 32.8% and 10.7%, respectively for farm and non-farm products.
Correct Answer: Reliance Industries
Explanation:
Reliance Industries Chairman Mukesh Ambani at the Reliance Industries' 41st Annual General Meeting announced that Reliance is India's largest payer of Goods and Services Tax (GST), Excise and Customs Duty, and Income Tax in the private sector paying Rs.9844 crore in FY18. Reliance has become the first Indian company to record PBDIT (Profit Before Depreciation Interest and Taxes) of over $10 billion.
Correct Answer: 7.8%
Explanation:
Global research agency Fitch has raised India's growth forecast for the current fiscal to 7.8 per cent from the earlier 7.4 per cent. However, forecast for the next two fiscal, 2019-20 and 2020-21, have been shaved by 20 basis points (100 basis points means 1 per cent) to 7.3 per cent. Fitch's latest projection for the current fiscal is higher than what is estimated by the Reserve Bank of India and even the Government. While the RBI's estimate is 7.4 per cent, the Government feels that it could be 7.5 per cent. However, the International Monetary Fund (IMF) cut its projection to 7.3 per cent from 7.4 per cent. India Ratings too lowered its growth projection by 20 bps to 7.2 per cent.
Correct Answer: 7.5%
Explanation:
India's economy is expected to clock GDP growth of 7.5% in this financial year according to a Morgan Stanley report. The growth recovery will remain robust, supported initially by consumption and exports. In the January-March quarter, India's gross domestic product (GDP) grew at the fastest pace in seven quarters at 7.7% on robust performance by manufacturing and service sectors as well as good farm output. India's economy is expected to clock GDP growth of 7.5% in this financial year according to a Morgan Stanley report. The growth recovery will remain robust, supported initially by consumption and exports. In the January-March quarter, India's gross domestic product (GDP) grew at the fastest pace in seven quarters at 7.7% on robust performance by manufacturing and service sectors as well as good farm output.
Correct Answer: 8.65%
Explanation:
The Department of Financial Services, a wing of the Ministry of Finance, has approved an Employee's Provident Fund (EPF) interest rate hike of 10 basis point to 8.65 percent for 2018-19, as decided by the retirement fund body Employee's Provident Fund Organisation (EPFO). This move will benefit more than 6 crores formal sector workers. Earlier in 2017-18, the interest rate on EPF was 8.55 percent.In February 2019, the EPFO's apex decision making body, the Central Board of Trustees headed by Labour Minister Santosh Gangwar, had decided to hike the interest rate on EPF to 8.65 percent for 2018-19 from 8.55 percent for 2017-18. This hike was the first increase in the last three years.
Correct Answer: 20
Explanation:
The Centre has announced a new Rs 20 coin which will come in 12-edged polygon (dodecagon) shape. The government is also planning to release new coins of Re 1, Rs 2, Rs 5 and Rs 10. However, the govt has not announced the exact date for the issuance of these new series coins. The Finance Ministry stated that the new Rs 20 coin will be made in copper, zinc and nickel. It will be 27mm (millimeters) and weigh 8.54 grams. The Lion Capitol symbol of Ashoka Pillar with the legend "Satyamev Jayate" below it will be inscribed on its front side. The words "Bharat" in Hindi and "INDIA" in English will be there on the right and left-hand side of the symbol respectively.
Correct Answer: Invaluable Treasures of Incredible India
Explanation:
Commerce and Industry Minister Suresh Prabhu launched a logo and tagline for Geographical Indications (GI) to increase awareness about intellectual property rights (IPRs) in the country. The slogan for the GI tag is- 'Invaluable Treasures of Incredible India'. A GI product is primarily an agricultural, natural or a manufactured product (handicraft and industrial goods) originating from a definite geographical territory.
Correct Answer: Jhansi
Explanation:
PM Modi on his visit to Jhansi laid foundation stone of Defence Corridor which will create a lot of direct and indirect employment to the youth in the region. Government decided to establish 2 defence corridors in the country, one at Tamil Nadu and the other in Uttar Pradesh. Jhansi is one among six nodal points of the UP defence corridors.The Defence Corridor will make India independent in defence production. The project will also attract many foreign and domestic Defence related companies to invest in the region.
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