Question Detail

Exise duty is imposed on

Sale of an item
Production of an item
Consumption of an item
All of above

Answer: Option B

Explanation:

Exise duty is imposed on Production of an item so it is a commodity tax.

1. Which industry is the largest ?

Handloom
Sports
Music
Textile

Answer: Option D

Explanation:

Textile industry is the largest industry in the country. The share of Textile and clothing in total industrial production is approx 14%. It provides employment to more than 350 lakh people.

2. States earn maximum revenue through

Tax Fines
Customs
License sales
Commercial taxes

Answer: Option D

3. Industrial Credit and Investment Corporation of India (ICICI) was established in :

1989
1990
1991
1992

Answer: Option C

4. What is NSSO ?

National Social Science Organisation
National Social Study Organisation
National Security Science Organisation
National Sample Survey Organisation

Answer: Option D

5. What is FEMA ?

First Exchange Management Act
Foreign Exchequer Management Act
Foreign Exchange Management Act
Foreign Evaluation Management Act

Answer: Option C

Explanation:

FEMA is Foreign Exchange Management Act, it came into force in July 2000. It replaced Foreign Exchange Regulation Act 1973.