Question

Pradhan Mantri Garib Kalyan Deposit Scheme aimed at

• A. Interest free deposits that could act as a source of social welfare
• B. It is funded by voluntary disclosure mechanism for recovery of black money
• C. Both a and b
• D. None of the above

Answer 1

The correct option is C Both a and b

<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> The Pradhan Mantri Garib Kalyan Yojana (PMGKY) is Union Government's second income disclosure scheme (IDS) to allow tax evaders to come clean with unaccounted wealth. It provides for 50% tax and surcharge on declarations of unaccounted income.
This amount is proposed to be utilised for the schemes of irrigation, housing, toilets, infrastructure, primary education, primary health, livelihood, etc., so that there is justice and equality.