Puzzle Duniya http://www.puzzleduniya.com Online Puzzle, Aptitude, Reasoning, GK & Quiz Portal Sat, 11 Nov 2017 08:33:50 +0000 en-US hourly 1 https://wordpress.org/?v=4.8.3 GST Revised – Big Boom to Rate Cuts: Common People Got the Mauka to Smile http://www.puzzleduniya.com/gst-revised-big-boom-to-rate-cuts-common-people-got-the-mauka-to-smile/ http://www.puzzleduniya.com/gst-revised-big-boom-to-rate-cuts-common-people-got-the-mauka-to-smile/#respond Sat, 11 Nov 2017 08:33:50 +0000 http://www.puzzleduniya.com/?p=3066 For the past 1 year, it was a big debate around the implementation of GST to boost Indian economy to another great extent and brings revolution in future. But top leaders and political parties from opposition opened their furor and expressed constant grievances to protest the biggest and bravest movements taken by the Indian Government. Many ordinary and poor people from every corner at our country financially suffered a lot due to a direct increase in goods price, costlier prices of some daily-used materials which are mostly consumed by the 90% of people.

Allegations from every corner regarding the government’s GST roll-out and last year’s notes ban have caused an economic commotion. Also, traders all around the country and small business owners help this Government solely responsible for this financial misery of common people.

Finally, our respected Union Finance Minister Arun Jaitley on Friday announced a big overhaul of new national tax GST, saying only 50 items will remain in the highest tax slab of 28 percent, with 178 others moved to the 18 percent bracket effective November 15. Dining out will also become cheaper, with food at all restaurants in the country, except those in starred hotels, to be taxed at 5 percent rather than 18 percent. The decision is marked as “people-friendly and people-centric” by our beloved Prime Minister Mr. Narendra Modi.

GST Council Meeting

Source: hindustantimes.com

Below are 10 -point cheatsheet that you must need to remember:

  1. Tax rates, especially in the tax bracket of 28 percent, is been reviewing and rationalizing by the GST council time to time. Also, the decision by the council itself to move 178 items from the tax bracket of 28 percent to 18 percent is been appreciated a lot.
  1. Daily used products like shampoo, deodorant, toothpaste, shaving cream, aftershave lotion, shoe polish, chocolate, chewing gum and nutritious drinks; which are consumed mostly by the common people of our country, will no longer be kept in the tax slab of 28 percent.
  1. The returns filing cycle has also been reviewed by the council and the rules and deadlines for the current fiscal year are been eased out. The Late filing penalty is also being relaxed.
  1. 13 items will move from the 18 percent slab to 12 percent, six items from 18 percent to 5 percent, eight items from 12 to 5 and six from 5 percent to nil in more tax rate changes as said the Finance Minister.
  1. However, West Bengal Finance Minister Mr. Amit Mitra has given the credit of bringing down the tax rates to opposition parties and their leaders, he also expressed openly that few essential items are still in the higher slab of 28 percent which still needs to look after.
  1. The head panelist of this GST network in council Mr. Sushil Modi said that the new changes will cost the exchequer around Rs. 20,000 crores ($3.07 billion) this financial year.
  1. The Finance Minister also gave his important opinion on eating out saying that while all restaurants in and outside hotels will carry a 5 percent GST charge, at those in starred hotels with room tariffs above 7,500 a night there will be no relaxation of paying exactly 18% GST. According to Mr. Jaitley, the benefit of ITC (Input Tax Credit) to restaurants has been rescinded to restaurants because they were not passing on the benefit to customers.
  1. According to a Reuters poll, India’s economy is anticipated to produce at its slowest pace in four years in the fiscal year that ends on March 31.
  1. Congress Vice President Mr. Rahul Gandhi expressed his interesting view by tweeting – “We will not allow BJP to impose a Gabbar Singh Tax on India. They cannot break the back of the small and medium businesses, crush the informal sector and destroy millions of jobs”.
  1. Like traditional political debate, this time also the Congress party alleged that the GST review is a timely and tactical movement to keep the interest of the common people of Gujrat intact just before the next month’s crucial assembly elections where the important voter group of small traders is upset with the new tax regime.
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General Knowledge Question Answers – Series 12 http://www.puzzleduniya.com/general-knowledge-question-answers-series-12/ http://www.puzzleduniya.com/general-knowledge-question-answers-series-12/#respond Fri, 02 Sep 2016 04:56:44 +0000 http://www.puzzleduniya.com/?p=3058 General knowledge is a pivotal part of your competitive exam preparation. if you determined to move your career in dream sectors like bank, LIC, Indian Railways, then you need to prepare numeral questions and answers from this part as an integral process.

GK Series - 12

This segment contains questions and answers from ‘Currency and Inflation’.

Just go through all the questions and try to give answer of your own before looking for the correct answer in the answer section.

1. The effect of inflation on tax revenue results in a situation known as:

Answer Options:
a. stagflation
b. fiscal drag
c. reflation
d. disinflation

Answer

Answer

fiscal drag

2. Prior to full convertibility of the rupee, the convertibility ratio was:

Answer Options:
a. 40 : 60
b. 60 : 40
c. 30 : 70
d. 70 : 30

Answer

Answer

40 : 60

3. Minimum inflation in post economic reform was in:

Answer Options:
a. 1999 – 2000
b. 2000 – 01
c. 2001 – 02
d. 2002 – 03

Answer

Answer

1999 – 2000

4. Devaluation of currency helps to promote:

Answer Options:
a. exports
b. imports at low cost
c. savings
d. national income

Answer

Answer

exports

5. ‘Devaluation’ means:

Answer Options:
a. converting rupee into gold
b. lowering of the value of one currency in comaprison of some foreign currency
c. making rupee dearer in comaprison to some foreign currency
d. None of the above

Answer

Answer

lowering of the value of one currency in comparison of some foreign currency

6. Which of the following Mahatma Gandhi series of currency notes issued by the RBI has ‘ecology’ depicted on it?

Answer Options:
a. Rs. 100/-
b. Rs. 500/-
c. Rs. 50/-
d. Rs. 5/-

Answer

Answer

Rs. 100/-

7. Which of the following prints currency notes of the denomination of Rs. 100/-?

Answer Options:
a. The bank note press, Dewas
b. The Indian Security Press, Nasik Road
c. The Security Printing Press, Hyderabad
d. All of the above

Answer

Answer

The bank note press, Dewas

8. Black money is:

Answer Options:
a. illegal earned money
b. counterfeit currency
c. money earned through underhand deals
d. income on which payment of the tax is usually evaded

Answer

Answer

income on which payment of the tax is usually evaded

9. M1 includes:

Answer Options:
a. currency with public
b. demand deposit with bank
c. other deposits with bank
d. All of the above

Answer

Answer

other deposits with bank

10. M3 includes:

Answer Options:
a. M1 + Transfer Deposits
b. M1 + Post Office Saving Deposit
c. M1 + Bank Deposits
d. M1 + National Saving Certificate

Answer

Answer

M1 + Transfer Deposits

11. A currency whose exchange are tends to fall because of persistent balance of payment deficit is known as:

Answer Options:
a. soft currency
b. hard currency
c. sinking currency
d. gold currency

Answer

Answer

soft currency

12. Convertibility of the rupee implies:

Answer Options:
a. being able to convert rupee notes into gold
b. freely permitting the conversion of rupee to other major currencies and vice-versa
c. allowing the value of rupee to be fixed by market forces
d. developing an international market for currencies in India

Answer

Answer

freely permitting the conversion of rupee to other major currencies and vice-versa

13. Which of the following accounts for cost-push inflation?

Answer Options:
a. Increase in money supply
b. increase in indirect taxation
c. increase in population
d. increase in non-plan expenditure

Answer

Answer

increase in indirect taxation

14. A steady increase in the general level of prices as a result of excessive increase in aggregate demand as compared to aggregate supply is termed as:

Answer Options:
a. demand pull inflation
b. cost-push inflation
c. stagflation
d. structural inflation

Answer

Answer

demand pull inflation

15. What is ‘Debit Card’?

Answer Options:

a. It’s a card issued by rating agency

b. It’s a card which can be used for withdrawing cash on marketing payment even in the absence of nay balance in the account
c. It’s a card which can be used for withdrawing cash or making payment if there is balance in the account
d. It’s a card which carried prepaid balance

Answer

Answer

It’s a card which can be used for withdrawing cash or making payment if there is balance in the account
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General Knowledge Question Answers – Series 11 http://www.puzzleduniya.com/general-knowledge-question-answers-series-11/ http://www.puzzleduniya.com/general-knowledge-question-answers-series-11/#respond Fri, 26 Aug 2016 07:02:55 +0000 http://www.puzzleduniya.com/?p=3052 The knowledge sharing process is continuing here as well. This section consists of another 15 interactive session of GK which is your apt for exam preparation.

This segment contains questions and answers from ‘Currency and Inflation’.

Just go through all the questions and try to give answer of your own before looking for the correct answer in the answer section.

GK Series 11

1. The period of high inflation and low economic growth is termed as:

Answer Options:
a. stagnation
b. take off stage in economy
c. stagflation
d. None of the above

Answer

Answer

stagflation

2. Broad money in India is:

Answer Options:
a. M1
b. M2
c. M3
d. M4

Answer

Answer

M3

3. When was the decimal system of currency introduced in India?

Answer Options:
a. 1948
b. 1950
c. 1954
d. 1957

Answer

Answer

1957

4. If the interest rate is decreased in an economy, it will:

Answer Options:
a. decrease the consumption expenditure in the economy
b. increase the tax collection of the government
c. increase the investment expenditure in the economy
d. increase the total savings in the economy

Answer

Answer

increase the investment expenditure in the economy

5. Monetary Policy is regulated by:

Answer Options:
a. money lenders
b. central bank
c. private entrepreneurs
d. government policy

Answer

Answer

central bank

6. Stagflation implies a case of:

Answer Options:
a. galloping inflation
b. recession plus inflation
c. adverse balance of trade
d. rising wages and employment

Answer

Answer

recession plus inflation

7. The Phillips Curve represents relationship between:

Answer Options:
a. Deflation and Unemployment
b. Inflation and Unemployment
c. Inflation and Disguised
d. Deflation and Cyclical Unemployment

Answer

Answer

Inflation and Unemployment

8. The situation with increasing unemployment and inflation is termed as:

Answer Options:
a. hyper inflation
b. galloping inflation
c. stagflation
d. reflection

Answer

Answer

stagflation

9. Convertibility of the rupee implies:

Answer Options:
a. being able to convert rupee notes into gold
b. freely permitting the conversion of rupee to other major currencies and vice versa
c. allowing the value of the rupee to be fixed by market forces
d. developing an international market for currencies in India

Answer

Answer

freely permitting the conversion of rupee to other major currencies and vice versa

10. Which of the following groups suffer the most from inflation?

Answer Options:
a. Debtors
b. Creditors
c. Business class
d. Holders of real assets

Answer

Answer

Creditors

11. The Reserve bank of India issues currency notes under the:

Answer Options:
a. Fixed Fiduciary System
b. Maximum Fiduciary System
c. Minimum Reserve System
d. Proportional Reserve System

Answer

Answer

Minimum Reserve System

12. Who among the following is most benefited from inflation?

Answer Options:
a. Government pensioners
b. Creditors
c. Saving bank account holders
d. Debtors

Answer

Answer

Debtors

13. Which of the following can be used for checking inflation temporarily?

Answer Options:
a. Increase in wages
b. Decrease in money supply
c. Decrease in taxes
d. None of the above

Answer

Answer

Decrease in money supply

14. Who among the following are not protected against inflation?

Answer Options:
a. Salaried class
b. Pensioners
c. Industrial workers
d. Agricultural farmers

Answer

Answer

Agricultural farmers

15. Consider the following statements
1. Inflation benefits the debtors
2. Inflation benefits the bond holders
Which of the statement (s) given above is/are correct?

Answer Options:
a. Only 1
b. Only 2
c. Both 1 and 2
d. Neither 1 nor 2

Answer

Answer

Only 1
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General Knowledge Question Answers – Series 10 http://www.puzzleduniya.com/general-knowledge-question-answers-series-10/ http://www.puzzleduniya.com/general-knowledge-question-answers-series-10/#respond Mon, 22 Aug 2016 05:06:20 +0000 http://www.puzzleduniya.com/?p=3047 Are you prepare for more question-answer interactive session again? Then go through this set of 15 Q&A and enjoy this session.

This segment contains questions and answers from ‘Unemployment / Alleviation / Programmes ? Agriculture ? Economic Policies, Schemes’.

Just go through all the questions and try to give answer of your own before looking for the correct answer in the answer section.

GK Series 10

1. What would be the total population at the end of the year if population at the beginning of the year is 5000 and population changed during the year is – birth 250, death 60, immigration 30 and emigration 15?

Answer Options:

a. 5205
b. 5235
c. 5310
d. 5180

Answer

Answer

5205

2. Inclusion strategy does not focus on:

Answer Options:
a. reduction of inequality
b. reduction of poverty
c. diversifying livelihood for tribal population
d. getting poorer countries closer

Answer

Answer

getting poorer countries closer

3. Disguised unemployment generally means:

Answer Options:
a. large number of people remain unemployed
b. alternative employment is not available
c. marginal productivity of labour is zero
d. productivity of workers is low

Answer

Answer

marginal productivity of labour is zero

4. Which of the following combinations is correct?

Answer Options:
a. NABARD : Industrial loans
b. IDBI : Short-term loans
c. RBI : Long-term finance
d. RRB : Agricultural finance

Answer

Answer

RRB : Agricultural finance

5. Which of the following was formed to suggest means for eradicating black money?

Answer Options:
a. Finance Commission
b. Sarkaria Commission
c. Shah Commission
d. Chelliah Committee

Answer

Answer

Chelliah Commission

6. Which of the following is true regarding the Jawahar Rozgar Yojana (JRY)?

Answer Options:
a. It was launched during the Prime Minister-ship of Indira Gandhi
b. It aims at creating 1 million jobs annually
c. The target group of JRY are the urban poor living below the poverty line
d. Under the scheme, 30% of the employment generated is reserved for women

Answer

Answer

Under the scheme, 30% of the employment generated is reserved for women

7. Which of the following is a step undertaken by the Government, to reduce parallel economy in India?

Answer Options:
a. Value Added Tax (VAT)
b. Voluntary Disclosure Scheme (VDS)
c. Programme of Action (PoA)
d. Sick Induatrial Companies Act (SICA)

Answer

Answer

Voluntary Disclosure Scheme (VDS)

8. Among the following, who are eligible to benefit from the ‘Mahatma Gandhi National Rural Employment Gurantee Act’?

Answer Options:
a. Adult members of only the scheduled Caste and Scheduled Tribe house-holds
b. Adult members of Below Proverty Live (BPL) households
c. Aduld members of households of all backward communities
d. Adult members of any household

Answer

Answer

Adult members of any household

9. Cyclical unemployment refers to:

Answer Options:
a. seasonal unemployment
b. disguised unemployment
c. voluntary unemployment
d. unemployment during recessionary phase of a trade cycle

Answer

Answer

unemployment during recessionary phase of a trade cycle

10. Which one of the following is not a constituent of Human Development Index (HDI)?

Answer Options:
a. Per capita income
b. Life expectancy at birth
c. Gross enrollment rate
d. Health and nutrition

Answer

Answer

Health and nutrition

11. When was the Cooperative Societies Act first passed in India?

Answer Options:
a. 1900
b. 1902
c. 1904
d. 1906

Answer

Answer

1904

12. With reference to the Government of India’s various programmes, what is Nirmal Gram Puraskar?

Answer Options:
a. It is an incentive scheme of scholarships for the single girl child in families in villages
b. It is an incentive scheme of scholarships for female sports person from villages, who represent their states in any game
c. It is an incentive scheme of schools in the villages for computer education
d. It is an incentive scheme Panchayati Raj Institutions

Answer

Answer

It is an incentive scheme of scholarships for female sports person from villages, who represent their states in any game

13. When the productivity capacity of the economic system of a state is inadequate to create sufficient number of jobs, it’s called

Answer Options:
a. seasonal unemployment
b. structural unemployment
c. disguised unemployment
d. cyclical unemployment

Answer

Answer

cyclical unemployment

14. Consider the following Pradhan Mantri Jan-0Dhan Yojana (PMJYD):

Answer Options:
1. PMJYD accounts are being opened with Zero balance
2. If the account-holder wishes to get cheque book it can be issued on zero balance
3. PMJYD Scheme provides an accidental insurance cover of Rs. 30000
Which of the statements(s) given above is/are correct?
a. Only 1
b. 1 and 2
c. 2 and 3
d. All are correct

Answer

Answer

Only 1

15. Consider the following about ‘Beti Bachao, Beti Padhao’ Scheme:

Answer Options:
1. The scheme was launched on 22nd January, 2015 from Panipath Haryana.
2. The scheme was initiated with an initial corpus of Rs. 1000 crore.
Which of the statement(s) given above is/are correct?
a. Only 1
b. Only 2
c. Both 1 and 2
d. Neither 1 nor 2

Answer

Answer

Only 1
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General Knowledge Question Answer – Series 9 http://www.puzzleduniya.com/general-knowledge-question-answer-series-9/ http://www.puzzleduniya.com/general-knowledge-question-answer-series-9/#respond Thu, 18 Aug 2016 17:12:49 +0000 http://www.puzzleduniya.com/?p=3042 In this series, we are going to share another set of 15 questions with potential answers to help you build your knowledge in a specific topic.

This segment contains questions and answers from ‘Unemployment / Alleviation / Programmes / Agriculture / Economic Policies, Schemes’.

Just go through all the questions and try to give answer of your own before looking for the correct answer in the answer section.

GK Series 9

1. What is the main objective of Antyodaya Programme

Answer Options:
a. Uplift the poor
b. Uplift the urban poor
c. Uplift the farmer
d. Uplift the landless labour

Answer

Answer

Uplift the poor

2. Which one of the following is a revamp of the integrated Rural Development Programme (IRDP)?

Answer Options:

a. Jawahar Gram Samridhi Yojana (JGSY)
b. Community based pro-poor initiative
c. Swarna Jayanti Gram Swarozgar Yojana (SJGSY)
d. National Social Assistance Programme (NSAP)

Answer

Answer

Swarna Jayanti Gram Swarozgar Yojana (SJGSY)

3. Which one of the following is not included in the National Food Security Mission?

Answer Options:
a. Oil-seeds
b. Wheat
c. Rice
d. Pulses

Answer

Answer

Oil-seeds

4. To obtain full benefits of demographic dividend, what should India do?

Answer Options:
a. Promoting skill development
b. Introducing more social security schemes
c. Reducing infant morality rate
d. Privatisation of higher education

Answer

Answer

Promoting skill development

5. India’s Wage Policy is based on:

Answer Options:
a. cost of living
b. standard of living
c. productivity
d. None of the above

Answer

Answer

cost of living

6. Which of the following statement is true about Industrial Policy, since 1991?

Answer Options:
a. Only five industries related to security, strategic and environmental concerns requires industrial license
b. An investor need riot file an industrial entrepreneur memorandum
c. There is no reservation of products for production in small-scale sectors
d. The number of industries reserved for public sector has been enhanced

Answer

Answer

There is no reservation of products for production in small-scale sectors

7. The Committee of Financial Sector Reforms 2008, in India was headed by:

Answer Options:
a. Bimal Jalan
b. Raghuram Rajan
c. C Rangarajan
d. M Narasimham

Answer

Answer

Raghuram Rajan

8. With reference to National Rural Health Mission, which of the following are the jobs of ASHA, a trained community health worker?

1. Accompanying women to the health facility for anti-natal care check-up ()
2. Using pregnancy test kits for early detection of pregnancy
3. Providing information on nutrition and immunisation
4. Conducting the delivery of the baby

Select the correct answer using the codes given below:

Answer Options:
a. 1, 2 and 3
b. 2 and 3
c. 1 and 3
d. All of these

Answer

Answer

1, 2 and 3

9. The endeavor of Janani Suraksha Yojana Programme is:

1. to promote institutional deliveries
2. to provide monetary assistance to the mother to meet the cost of delivery
3. to provide for wage loss due to pregnancy and confinement
Which of the statement(s) given above is/are correct?

Answer Options:
a. 1 and 2
b. Only 2
c. Only 3
d. All of these

Answer

Answer

1 and 2

10. Which committee’s recommendations are being followed for estimating poverty line in India?

Answer Options:
a. Dutt Committee
b. Chelliah Committee
c. Chakravorty Committee
d. Lakdawala Committee

Answer

Answer

Lakdawala Committee

11. NREGA was renamed ‘MNREGA’ on:

Answer Options:
a. October 2, 2007
b. February 2, 2008
c. October 2, 2009
d. October 2, 2010

Answer

Answer

October 2, 2009

12. When were the Agricultural Prices Commission and the Food Corporation of India established?

Answer Options:
a. 1960
b. 1965
c. 1966
d. 1969

Answer

Answer

1965

13. Under the scheme of TRYSEM, the beneficiaries were the youth in:

Answer Options:
a. rural areas
b. urban areas
c. towns
d. metropolitan cities

Answer

Answer

rural areas

14. Which one of the following is the correct sequence of economic sectors in terms of their contribution to the GDP of India in decreasing order?

Answer Options:
a. Service-Industry-Agriculture
b. Agriculture-Industry-Service
c. Industry-Service-Agriculture
d. Agriculture-Service-Industry

Answer

Answer

Service-Industry-Agriculture

15. Swarna Jayanti Gram Swarozgar Yojana came into being in:

Answer Options:
1. April 1995
2. April 1997
3. April 1999
4. July, 2001

Answer

Answer

April 1999
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