Current Affairs - Economy

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Exercise :: Economy - Latest Current Affairs

  • Economy - Latest Current Affairs

What is the new GST Recommended by Government Panel for under-construction residential properties?

A. 5%
B. 8%
C. 12%
D. 15%

Answer: Option A


Government panel recommended lowering GST on under-construction residential properties to 5%. The GST rate for under-construction flats earlier was 12%.The Group of Ministers headed by Nithin Patel was formed to analyse tax rates and issues or challenges being faced by the real estate sector under the Goods and Services Tax (GST) regime.The seven member ministerial panel also favoured lowering GST on affordable housing from 8% earlier to 3%.The move will give relief to homebuyers as the tax rate had lowered sharply with no input tax credit. Any cut in GST should reduce the adverse impact on the land abatement rate also.


Which city is the venue of the ICT Academy Bridge 2019 conference?

A. Jaipur
B. New Delhi
C. Pune
D. Chennai

Answer: Option D


In Tamil Nadu, the 37th edition of the ICT Academy Bridge 2019 conference was held in Chennai with theme "Fostering India for Industry 4.0".


How much will be allotted under the Pradhanmantri Kisan Samman Nidhi Yojna as per the union Budget 2019?

A. Rs. 55000 crore
B. Rs. 75000 crore
C. Rs. 30000 crore
D. Rs. 85000 crore

Answer: Option B


The Union Minister Piyush Goyal announced various schemes in the Interim Union Budget 2019-20 on February 1, 2019. Government announced fixed yearly income for small and marginal farmers under Pradhanmantri Kisan Samman Nidhi Yojna. This scheme will benefit about 12 crore farmers who have 2 Hectare land. Rupee 6000 per year direct cash transfer in their account. Cash transfer will be given in three equal installments of Rs 2000 each. The benefit under this yojna will be given retrospectively from December 2018. Rs. 75000 crore allotted for this scheme. It is expected to double the farmers income.


Union Minister for Minority Affairs Mukhtar Abbas Naqvi stated that the GST on Haj reduced from 18% to __________.

A. 8%
B. 12%
C. 5%
D. 15%

Answer: Option C


Union Minister for Minority Affairs Mukhtar Abbas Naqvi stated that GST on Haj has been reduced from 18% to 5% and this will significantly lower the airfare thus saving Haj pilgrims' 113 crore rupees this year. Mr. Naqvi also stated that for the first time since the independence 2,340 women from India will go on 2019 Haj without Mehram.


According to the report of United Nations' World Economic Situation and Prospects (WESP) 2019, what will be the growth rate of India for in 2019-20?

A. 7.6%
B. 7.5%
C. 7.4%
D. 7.8%

Answer: Option A


With robust private consumption and 7.4% GDP growth rate in the current fiscal, the Indian economy is expected to accelerate at a rate of 7.6% in 2019-20, according to a report by the United Nations titled United Nation's World Economic Situation and Prospects (WESP) 2019. As per the report, the world trade growth moderated over the course of 2018 to 3.8% from growth of 5.3% in 2017.