461: Corporation tax
(a) is levied and appropriated by the States
(b) is levied by the Union and collected and appropriated by the States
(c) is levied by the Union and shared by the Union and the States
(d) is levied by the Union and belongs to it exclusively
462: The economic crisis in the latter half of 1990's most seriously affected Indonesia, Thailand, Malaysia and South Korea. The cause of the crisis was
(a) mismanagement of the financial resources and financial sector, in general
(b) the prolonged over-valuation of local currencies vis-a-vis the western currencies
(c) the downswing and recession in the western economies which earlier provided export market to these export- oriented countries
(d) None of the above
463: After hatching by the hen, the young chicks come out of eggs within:
(a) One week
(b) Two weeks
(c) Three weeks
(d) Four weeks
464: What is/are the most likely advantages of implementing 'Goods and Services Tax (GST)'?
1. It will replace multiple taxes collected by multiple authorities and will thus create a single market in India.
2. It will drastically reduce the 'Current Account Deficit' of India and will enable it to increase its foreign exchange reserves.
3. It will enormously increase the growth and size of economy of India and will enable it to overtake China in the near future.
Select the correct answer using the code given below:
(a) 1 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
465: When the Indian Muslim League was inducted into the interim government in 1946, Liyaqat Ali Khan was assigned the portfolio of
(a) Foreign affairs
(b) Home
(c) Finance
(d) Defence