Question : The introduction of the Goods and Services Tax (GST) in India aimed to:

 

Option 1: Promote fiscal federalism

Option 2: Increase tax rates for businesses

Option 3: Restrict foreign trade

Option 4: Nationalize key industries

Question : The introduction of the Goods and Services Tax (GST) in India aimed to:

Option 1: Promote fiscal federalism

Option 2: Increase tax rates for businesses

Option 3: Restrict foreign trade

Option 4: Nationalize key industries

Question : The economic liberalization reforms of 1991 in India aimed to:  
 

Option 1: Increase state control over the economy  
 

Option 2: Promote self-sufficiency in food production  
 

Option 3: Open the economy to foreign investment and trade  

Option 4: Strengthen public sector enterprises  

Question : The strategy of planned industrialization in India aimed to:  
 

Option 1: Reduce the role of the private sector  
 

Option 2: Promote balanced regional development  
 

Option 3: Increase reliance on imported technology  

Option 4: Focus exclusively on export-oriented industries

Question : Assertion: The foreign trade policy during 1951-1991 aimed to promote export-oriented industries in India.

Reason: The policy provided tax incentives and simplified regulatory processes for businesses.

Option 1: Both the assertion and reason are true, and the reason is the correct explanation of the assertion.
 

Option 2: Both the assertion and reason are true, but the reason is not the correct explanation of the assertion.
 

Option 3: The assertion is true, but the reason is false.

Option 4: The assertion is false, but the reason is true.

Question : The Goods and Services Tax (GST) – which has replaced the Central and State indirect taxes such as VAT, excise duty, and service tax in India – was implemented on:

Option 1: 1 July 2017

Option 2: 15 August 2017

Option 3: 15 September 2017

Option 4: 2 October 2017