India’s income tax journey, which began 165 years ago on 24th July 1860 under Sir James Wilson, has now entered its most revolutionary phase with the Income Tax Act, 2025. Signed into law by the President on 21st August 2025, this 600-page legislation replaces the 64-year-old 1961 Act with a cleaner, digital-first, taxpayer-friendly tax code. […]
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Most Important Economy Current Affairs MCQs 2025-26 for UPSC Civil Services, State PSC and all other competitive exams. 1. USA imposed tariff on imported goods from India under ‘reciprocal’ tariff plan in the first week of April 2025. (A) 26% (B) 52% (C) 74% (D) 80% Answer: (A) 2. Which of the following countries spared
Q. As per the Economic Survey 2022-23, which of the following commodities has highest percent share in the export from India in the financial year 2021-22 ? (A) Agriculture and allied products (B) Crude oil and petroleum products (C) Manufactured goods (D) Ore and minerals Answer: B The Eastern and the Western Ghats meet each
Which of the following schemes was launched to integrate skill development in academic colleges? Choose the most appropriate answer from the options given below: (A) Mukhya Mantri Yuva Sambal Yojana (MMYSY) (B) Mukhya Mantri Kaushal Nirman Yojana (MMKNY) (C) Mukhya Mantri Kaushal Vikas Yojana (MMKVY) (D) Mukhya Mantri Yuva Kaushal Yojana (MMYKY) (E) Question not
1. Which of the following statements related to the 16th Finance Commission is/are true? A. It was constituted in December, 2023 with Arvind Panagariya as its Chairman B. Ajay Narayan Jha was appointed as the secretary of the 16th Finance Commission C. The recommendations of the 16th Finance Commission cover a period of 5 years
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जीएसटी परिषद् में कितने सदस्य हैं ? How many members are there in GST Council? (A) 30 (B) 33 (C) 40 (D) 25 Answer: B It is the governing body of GST having 33 members, out of which 2 members are from the centre and 31 members are from 28 states and 3 Union territories
भारत में मोबाइल फोन पर जीएसटी दर क्या है? What is the GST rate on mobile phones in India? (A) 5% (B) 12% (C) 18% (D) 0% Answer: C कौन-सा संगठन राष्ट्रों में सुचारू और पूर्वानुमानित व्यापार के लिए जिम्मेदार है ? Which organization is responsible for smooth and predictable trading across the nations? लाओस
भारतीय कृषि अनुसंधान संस्थान ने भारत में संरक्षित बासमती किस्मों की खेती के लिए किस देश के खिलाफ कानूनी कार्रवाई की माँग की है? (A) पाकिस्तान (B) अफ़ग़ानिस्तान (C) बांग्लादेश (D) म्यांमार Answer: A विदेश व्यापार महानिदेशालय (DGFT) किस मंत्रालय के अंतर्गत आता है ? The Directorate General of Foreign Trade (DGFT) comes under which