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Indian EconomyMediumAsked in: CDS · CDS-II 2023, GK

As per the Cabinet Resolution of 1st January, 2015, the NITI Aayog consists of : 1. Prime Minister of India 2. Governing Council comprising Chief Ministers of all the States and Lieutenant Governors of Union Territories 3. Rural Development Minister 4. Chief Executive Officer to be appointed by the Prime Minister. Select the correct answer using the code given below:

  1. A.1, 2 and 3
  2. B.1, 2 and 4
  3. C.1 and 2 only
  4. D.3 and 4 only

Correct answer

B. 1, 2 and 4

Explanation

The correct answer is B, 1, 2 and 4. The resolution that created NITI Aayog names the Prime Minister as Chairperson, a Governing Council of Chief Ministers and Lieutenant Governors, and a Chief Executive Officer appointed by the Prime Minister.

NITI Aayog (National Institution for Transforming India) replaced the Planning Commission through a Union Cabinet resolution of 1 January 2015. Its structure under that resolution is: the Prime Minister as Chairperson; a Governing Council of the Chief Ministers of all States and Union Territories with legislatures and the Lieutenant Governors of other Union Territories; regional councils as needed; a Vice-Chairperson and full-time members; up to two part-time members; up to four Union Ministers as ex officio members nominated by the Prime Minister; and a CEO of the rank of Secretary.

Option A is wrong because no Rural Development Minister is a member by name. Option C is wrong because it leaves out the CEO. Option D is wrong because it drops the Prime Minister and the Governing Council.

Exam tip: NITI Aayog, 1 January 2015, executive resolution, not a constitutional or statutory body; PM is Chairperson.

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Q2.Indian EconomyAsked in: CDS · CDS-I 2018, GKHard

Consider the following statements about impact of tax : 1. A tax is shifted forward to consumers if the demand is inelastic relative to supply. 2. A tax is shifted backward to producers if the supply is relatively more inelastic than demand. Which of the statements given above is/are correct?

  1. A.1 only
  2. B.2 only
  3. C.Both 1 and 2
  4. D.Neither 1 nor 2
Show answer
Correct answer: C. Both 1 and 2

The burden of a tax falls more heavily on whichever side of the market is less elastic, the side that cannot easily walk away.

Q5.Indian EconomyAsked in: CDS · CDS-II 2017, GKHard

Why was constitutional amendment needed for introducing GST?

  1. A.States were not willing to agree with the Union for introduction of GST without amendment in the Constitution.
  2. B.GST was to be implemented on concurrent base and Article 246 was inadequate for such a case.
  3. C.The Empowered Committee of Finance Ministers had recommended for constitutional amendment.
  4. D.The GST Council had recommended for constitutional amendment so that its power enhances.
Show answer
Correct answer: B. GST was to be implemented on concurrent base and Article 246 was inadequate for such a case.

GST is levied by the Union and the States together on the same supply, and Article 246, which splits taxing powers between them through separate lists, did not allow such a concurrent tax.