UPPSC PCS 2020: Indian Economy Quiz 5

In the budget, the Government announced a taxpayers charter. Which of the following statements is/are correct regarding taxpayers' charters?

1) It will have a statutory status

2) It will "empower" citizens by ensuring time-bound service by the Income-tax department.

Select the correct answer using the codes given below:

Which of the following statements are correct regarding the achievement of Goods and Service Tax?

1) It has substantially reduced the turnaround time for trucks up to 20% due to the abolition of the check post in GST.

2) Due to reduced GST, an average household now saves about 4% on its monthly spends.

3) It amounts to a 10% reduction in overall tax incidence.

Select the correct answer using the codes given below:

Consider the following statements as per the Economic Survey of India 2019-20.

1) Entrepreneurial activity in the service sector is highest in Jharkhand, Arunachal Pradesh, Himachal Pradesh, Mizoram.

2) Entrepreneurial activity in the Manufacturing sector is highest in Delhi, Mizoram, Uttar Pradesh, Kerala, Andaman and Nicobar Island.

Which of the statements given above is/are correct?

Which of the following statements regarding “Commodity Market” is/are correct?

1) It can be defined as a virtual or a physical marketplace.

2) It facilitates purchasing, trading and selling of primary products or raw materials.

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Consider the following statements regarding the Atal Bimit Vyakti Kalyan Yojana:

1) It covers small traders on a voluntary contribution basis.

2) It is funded by both, the Central and the state governments.

Which of the statements given above is/are correct?