MCQ Test: India's Economy Navigates GST Reforms and US Tariff Challenges

1. India is set to transition to a new simplified two-slab GST structure. What are the rates of this new structure?

A) 12% and 28% B) 5% and 18% C) 7% and 20% D) 10% and 25%

2. From which date is India's major GST reform, transitioning to a two-slab structure, scheduled to be implemented?

A) August 27, 2025 B) September 10, 2025 C) September 22, 2025 D) August 29, 2025

3. Which of the following items, as per the new GST reform, will be brought under the 5% category or exempted, making them cheaper?

A) Luxury cars and electronics B) Milk, paneer, and hair oil C) High-end hotel services D) Imported goods

4. What is the new GST rate for hotel rooms priced up to Rs 7,500 per night, aimed at boosting the hospitality sector?

A) 12% B) 18% C) 5% D) 28%

5. The US imposed new 50% punitive tariffs on Indian imports effective from which date?

A) September 22, 2025 B) August 27, 2025 C) September 10, 2025 D) August 29, 2025

6. The new US punitive tariffs on Indian imports are reportedly linked to which specific action by India?

A) India's trade surplus with the US B) India's intellectual property policies C) India's continued purchase of Russian oil D) India's stance on climate change

7. Which Indian sectors, particularly MSMEs, are most severely affected by the new US tariffs according to the report?

A) Pharmaceuticals and IT services B) Automobile and heavy industries C) Textile, garment, and jewelry sectors D) Agriculture and food processing

8. What was India's Services Purchasing Managers' Index (PMI) in August 2025, marking its fastest growth in 15 years?

A) 50.1 B) 62.9 C) 55.0 D) 7.8

9. India's GDP growth in Q1 FY26 was reaffirmed at what percentage, as per the economic indicators?

A) 5.5% B) 6.8% C) 7.8% D) 8.2%

10. To what record low did the Indian rupee plunge against the US dollar amidst tariff fears and foreign fund outflows?

A) Rs 75.50 B) Rs 80.00 C) Rs 85.15 D) Rs 88.27

11. By when does the Niti Aayog project India to achieve self-sufficiency in pulses?

A) 2030 B) 2035 C) 2040 D) 2047

12. Which company announced price cuts of up to Rs 1.55 lakh across various models, passing on the benefits of the new GST rates to customers?

A) Mahindra & Mahindra B) Tata Motors C) Maruti Suzuki D) Hyundai India

13. Which aerospace company is increasing its stake to take majority control of Dassault Reliance Aerospace?

A) Boeing B) Airbus C) Lockheed Martin D) Dassault Aviation

14. According to Union Textile Minister Giriraj Singh, what has the potential to significantly boost exports and promote new-age fashion?

A) Silk production B) Synthetic fabrics C) Jute-fibre blends D) Cotton cultivation

15. India's forex reserves saw an increase to what amount in the week ending August 29?

A) $650.0 billion B) $675.5 billion C) $694.2 billion D) $700.0 billion

ALL TN Comp Exams Prep

India's Economy Navigates GST Reforms and US Tariff Challenges

Your Score: 0 / 0

1. India is set to transition to a new simplified two-slab GST structure. What are the rates of this new structure?

2. From which date is India's major GST reform, transitioning to a two-slab structure, scheduled to be implemented?

3. Which of the following items, as per the new GST reform, will be brought under the 5% category or exempted, making them cheaper?

4. What is the new GST rate for hotel rooms priced up to Rs 7,500 per night, aimed at boosting the hospitality sector?

5. The US imposed new 50% punitive tariffs on Indian imports effective from which date?

6. The new US punitive tariffs on Indian imports are reportedly linked to which specific action by India?

7. Which Indian sectors, particularly MSMEs, are most severely affected by the new US tariffs according to the report?

8. What was India's Services Purchasing Managers' Index (PMI) in August 2025, marking its fastest growth in 15 years?

9. India's GDP growth in Q1 FY26 was reaffirmed at what percentage, as per the economic indicators?

10. To what record low did the Indian rupee plunge against the US dollar amidst tariff fears and foreign fund outflows?

11. By when does the Niti Aayog project India to achieve self-sufficiency in pulses?

12. Which company announced price cuts of up to Rs 1.55 lakh across various models, passing on the benefits of the new GST rates to customers?

13. Which aerospace company is increasing its stake to take majority control of Dassault Reliance Aerospace?

14. According to Union Textile Minister Giriraj Singh, what has the potential to significantly boost exports and promote new-age fashion?

15. India's forex reserves saw an increase to what amount in the week ending August 29?

India's Economy Navigates GST Reforms and US Tariff Challenges

Your Score: 0 / 0

1. India is set to transition to a new simplified two-slab GST structure. What are the rates of this new structure?

2. From which date is India's major GST reform, transitioning to a two-slab structure, scheduled to be implemented?

3. Which of the following items, as per the new GST reform, will be brought under the 5% category or exempted, making them cheaper?

4. What is the new GST rate for hotel rooms priced up to Rs 7,500 per night, aimed at boosting the hospitality sector?

5. The US imposed new 50% punitive tariffs on Indian imports effective from which date?

6. The new US punitive tariffs on Indian imports are reportedly linked to which specific action by India?

7. Which Indian sectors, particularly MSMEs, are most severely affected by the new US tariffs according to the report?

8. What was India's Services Purchasing Managers' Index (PMI) in August 2025, marking its fastest growth in 15 years?

9. India's GDP growth in Q1 FY26 was reaffirmed at what percentage, as per the economic indicators?

10. To what record low did the Indian rupee plunge against the US dollar amidst tariff fears and foreign fund outflows?

11. By when does the Niti Aayog project India to achieve self-sufficiency in pulses?

12. Which company announced price cuts of up to Rs 1.55 lakh across various models, passing on the benefits of the new GST rates to customers?

13. Which aerospace company is increasing its stake to take majority control of Dassault Reliance Aerospace?

14. According to Union Textile Minister Giriraj Singh, what has the potential to significantly boost exports and promote new-age fashion?

15. India's forex reserves saw an increase to what amount in the week ending August 29?

📢 Share this page