Introduction Taxation plays a pivotal role in shaping a nation's economy and governance structure. In India, the taxation system is multifaceted, comprising a blend of direct and indirect taxes that are integral to revenue generation for the government. The purpose…

Which of the following is a direct tax? A) Goods and Services Tax (GST) B) Income Tax C) Excise Duty D) Customs Duty Answer: B) Income Tax What is the maximum rate of income tax applicable to individuals in India…

Introduction In recent years, India has witnessed unprecedented economic growth, positioning itself as one of the fastest-growing economies in the world. However, this rapid growth has come at a significant environmental cost, raising concerns about sustainability. The delicate balance between…

Which of the following is a key principle of environmental sustainability? A) Short-term economic gains B) Resource depletion C) Long-term ecological balance D) Increased pollution Answer: C) Long-term ecological balance What is the primary aim of the National Action Plan…

Introduction The Indian stock market has emerged as a significant player in the global financial landscape over the past few decades. As one of the fastest-growing economies, India's stock market is not merely a platform for trading shares; it is…

What is the primary function of the Indian stock market? A) To provide loans to businesses B) To facilitate the buying and selling of shares C) To regulate interest rates D) To control inflation Answer: B) To facilitate the buying…

What is inflation? A) Decrease in the price of goods B) Increase in the general price level of goods and services C) Stability in the price level D) None of the above Answer: B) Increase in the general price level…

Introduction In the rapidly evolving landscape of the global economy, skill development and employment generation have emerged as crucial components for sustainable economic growth, particularly in developing countries like India. With a population exceeding 1.4 billion, India boasts one of…

Which of the following is the primary government initiative for skill development in India? a) Make in India b) Skill India c) Digital India d) Start-up India Answer: b) Skill India What is the aim of the National Skill Development…

Introduction India's rural economy forms the backbone of the nation, playing a pivotal role in shaping its socioeconomic structure. With nearly 68.8% of its population living in rural areas (as per the 2011 Census), the rural economy is crucial to…

What percentage of India's population lives in rural areas as per the 2011 Census? a) 50% b) 60% c) 68.8% d) 70.5% Answer: c) 68.8% Which sector is the primary source of livelihood for the rural population in India? a)…

Introduction The Indian banking system is a vital pillar of the country's economic structure, facilitating the flow of capital, credit, and financial services that spur growth and development. With the emergence of a diverse banking ecosystem comprising public sector banks,…

Which of the following is the central bank of India? A) Reserve Bank of India (RBI) B) State Bank of India (SBI) C) Bank of India (BOI) D) Punjab National Bank (PNB) Answer: A) Reserve Bank of India (RBI) What…

Introduction The informal sector, often referred to as the unorganized sector, plays a crucial role in the Indian economy. Comprising a vast array of businesses and workers, this sector is characterized by the absence of formal contracts, regulatory oversight, and…

What is the primary characteristic of the informal sector? A) High wages B) Lack of formal contracts C) Government regulation D) Limited employment opportunities Answer: B) Lack of formal contracts Which of the following is NOT typically a part of…

Introduction India, a rapidly growing economy with a population exceeding 1.4 billion, faces a persistent and multifaceted unemployment crisis. This issue poses significant challenges not only to economic stability but also to social harmony and national development. Despite various government…