Current Affairs MCQ for UPSC Exams – 04 April 2016

Q.1- Consider the following statement and mark the correct answer.

A) GST is a tax regime to separate state taxes from central taxes.
B) GST will have no impact on cascading effect of taxes.
C) All major Central and State taxes will get subsumed into GST which will reduce the multiplicity of taxes, and thus bring down the compliance cost.
D) None of the above

Q.2- Which of the following is correct regarding the solar system?

1. Mercury is smallest planet in the solar system
2. Venus is hottest planet in solar system
3. Asteroid belt is between mars and Saturn

A. 1,2
B. 1,3
C. 2,3
D. All

Q.3- Which of the following correctly defines twin deficit?

A. high current account deficit and high fiscal deficit.
B. high capital account deficit and high fiscal deficit.
C. high current account deficit and high capital account deficit.
D. high budget deficit and high fiscal deficit.

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