Indian Economy Section 2 MCQs

41. The General Anti Avoidance and Thin Capitalization Rules to combat illicit transfer of money and assets abroad through complex financial arrangements and instruments, have been incorporated as a part of which among the following?

(A) Foreign Exchange Management Act, 1999 (FEMA)
(B) Prevention of Money Laundering Act, 2002 (PMLA)
(C) Direct Taxes Code Bill
(D) Income tax Act 1961

Correct Answer: (C) Direct Taxes Code Bill

42. The common international poverty line is based on an income of around___?

(A) $1.00 per day at the 2004 purchasing power parity
(B) $1.25 per day at the 2005 purchasing power parity
(C) $1.25 per day at the 2007 purchasing power parity
(D) $1.25 per day at the 2008 purchasing power parity

Correct Answer: (B) $1.25 per day at the 2005 purchasing power parity

43. In which year, the restructured Twenty Point Programme (TPP) became effective?

(A) 2005
(B) 2006
(C) 2007
(D) 2008

Correct Answer: (C) 2007

44. National Food Grain Movement Plan is primarily related to which among the following?

(A) Development of new seed varieties of food grains
(B) Opening food grain seeds villages
(C) Modernization of the Public Distribution System
(D) All the above

Correct Answer: (C) Modernization of the Public Distribution System

45. The Direct Taxes Code is related to which among the following?

(A) Income Tax
(B) Sales tax
(C) Excise Duty
(D) Service tax

Correct Answer: (A) Income Tax

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