Staying updated with current affairs is crucial for aspirants of competitive exams like UPSC, SSC, Banking, and State PSCs. Here are 10 multiple-choice questions (MCQs) based on the latest events as of 15 May 2025, along with answers and explanations to aid your preparation.
1. Which state topped the GST revenue collection among Indian states in FY25?
Answer: B) Maharashtra
Explanation: Maharashtra led with a GST collection of ₹3,18,497 crore in FY25, marking the highest among Indian states. The state's financial capital's growth rate decreased from 13% in April 2024 to 11% in April 2025.
2. What was the total GST revenue collection in India for the financial year 2024-25?
Answer: C) ₹21.36 lakh crore
Explanation: India's total GST revenue collection for FY25 reached ₹21.36 lakh crore, the highest since the introduction of GST in 2017, reflecting an 8.86% increase compared to the previous year.
3. Who is the current Chairperson of the GST Council?
Answer: A) Nirmala Sitharaman
Explanation: The GST Council is chaired by the Union Finance Minister, currently Nirmala Sitharaman. The council was established in 2016 under Article 279-A of the Constitution.
4. What was the GST revenue collection in India for April 2025?
Answer: B) ₹2.36 lakh crore
Explanation: In April 2025, India's GST revenue collection stood at ₹2.36 lakh crore, showing an annual growth rate of 12.6%.
5. The GST Council was constituted under which article of the Indian Constitution?
Answer: B) Article 279-A
Explanation: The GST Council was constituted under Article 279-A of the Indian Constitution through the 101st Amendment Act, 2016.
6. Which state experienced a decrease in its financial capital's growth rate from 13% in April 2024 to 11% in April 2025?
Answer: A) Maharashtra
Explanation: Maharashtra's financial capital saw its growth rate decline from 13% in April 2024 to 11% in April 2025, despite the state leading in GST collections.
7. When was the Goods and Services Tax (GST) introduced in India?
Answer: C) 2017
Explanation: The Goods and Services Tax (GST) was introduced in India on 1st July 2017, aiming to unify the indirect tax structure across the country.
8. What was the percentage increase in India's total GST revenue collection in FY25 compared to the previous year?
Answer: B) 8.86%
Explanation: India's total GST revenue collection in FY25 increased by 8.86% compared to the previous fiscal year, reaching ₹21.36 lakh crore.
9. Which constitutional amendment led to the creation of the GST Council?
Answer: C) 101st Amendment
Explanation: The 101st Amendment to the Indian Constitution, enacted in 2016, led to the creation of the GST Council under Article 279-A.
10. What is the primary function of the GST Council?
Answer: C) Recommend GST rates and policies
Explanation: The GST Council's primary function is to make recommendations to the Union and the States on important issues related to GST, such as tax rates, exemptions, and thresholds.
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