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  9. Q45

JKPSC KAS 2023 · Question 45 of 100

Consider the following statements regarding GIFT City. 1. GIFT City is India's first International Financial Services Centre (IFSC) under Special Economic Zone Act, 2005. 2. This provides world class financial services only to non-residents, to the extent permissible under the current regulations, in a currency other than the domestic currency of the location where the IFSC is located. 3. GIFT is planned as a greenfield business district, to be located between Gandhinagar and Ahmedabad, to cater to financial services and IT firms looking to set up India operations. The correct answer/s is/are:

Indian Economy

  1. A1 only
  2. B2 and 3 only
  3. C1 and 3 onlyCorrect
  4. D1, 2 and 3

Answer: C. 1 and 3 only

Explanation

GIFT City (Gujarat) is India's first IFSC under the SEZ Act, 2005 (1 correct) and is a greenfield district between Gandhinagar and Ahmedabad (3 correct). Statement 2's 'only to non-residents' overstates the position — IFSC units can serve resident Indians within permitted limits — so the key takes 1 and 3.

Source: JKPSC KAS Prelims 2023 (Set A) via TheExamPillar

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