Macro

Government Budget

Medium

When did GST came in effect in India?

1 July, 2017.

1 April, 2017.

1 July, 2016.

1 April, 2016.

✅ Correct Option: 1

Option 1: 1 July, 2017 -> GST (Goods and Services Tax) was implemented in India on 1st July 2017 at midnight in a historic session at Parliament's Central Hall. It replaced multiple indirect taxes like VAT, service tax, excise duty, etc., creating a unified tax structure across the country. This was one of the biggest tax reforms in India since independence, aimed at creating 'One Nation, One Tax' system. -> correct

2025: 29 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Capital receipts	(I) Excess of total expenditure over and above all total receipts of the government
(B) Corporate saving	(II) Borrowings of the government
(C) Budget deficit	(III) Retained earnings of firm
(D) Fiscal deficit	(IV) Create a liability for the government

Choose the correct answer from the options given below:

2022: 10 Aug Shift 2

Suppose you are a member of the "Advisory Committee to the Finance Minister of India". The finance minister is concerned about the rising Revenue Deficit in the budget.

Which measure would you suggest to control the rising Revenue deficit of the government ?

2022: 10 Aug Shift 2

'Rs. 48,000 cr is allotted for PM Awas Yojana in this years budget'.

Identify the government objective fulfilled from the statement above.

2025: 29 May Shift 2

When goods are financed through the budget and can be used without any direct payment, they are known as.......

2022: 15 July Shift 2

PM Gati Shakti- National master plan for multi-modal connectivity is an example of:

2024: 16 May

Match List-I with List-II :

When did GST came in effect in India?

Solution

Related questions:

Keyboard Shortcuts

CUET Economics Past Year Questions (Topic-Wise)