Correct answer is (2). 

Option (2) is the correct answer. 

Unit Trust of India is not affiliated to the Reserve Bank of India.

Option (3) is the correct answer.

Option (3) is correct.

One of the major recommendations given by Kelkar Task Force (KTF) was the implementation of a single union GST. It was contradictory to the recommendations given by most of the scholars and those given by the Joint Working Group.

The Income Tax Act of 1961 imposes tax on income under the following five heads:

The Central Board of Direct Taxes (CBDT) is a part of the Department of Revenue in the Ministry of Finance, Government of India. It is India's official FATF unit. The purpose of the FATF is to develop policies to combat money laundering and terrorism financing.

The Financial Action Task Force (on Money Laundering) (FATF), also known by its French name, Groupe d'action financière (GAFI), is an intergovernmental organization founded in 1989 on the initiative of the G7. The purpose of the FATF is to develop policies to combat money laundering and terrorism financing. The FATF Secretariat is housed at the headquarters of OECD in Paris.

The economic liberalisation in India refers to ongoing economic reforms in India that started on July 24, 1991. After Independence in 1947, India adhered to socialist policies. Attempts were made to liberalise the economy in 1966 and 1985. The first attempt was reversed in 1967. Thereafter, a stronger version of socialism was adopted. Second major attempt was in 1985 by Prime Minister Rajiv Gandhi.

It is easy to suggest that one may park the funds in equity. In times of inflationary turbulence, there could be greater uncertainty in equity returns, which, in any case, are not sure guarantees. The best way to hedge against inflation is to park funds in saving instruments that offer interest rates in excess of the average rate of inflation. 

In the past, there have been fundamental and irreversible changes in the economy, government policies, outlook of business and industry, and in the mindset of the Indians in general. Let’s have a look over India’s progress chart.

1. From a shortage economy of food and foreign exchange, India has now become a surplus one.
2. From an agro-based economy, it has emerged as a service oriented one.
3. From the low-growth of the past, the economy has become a high-growth one in the long-term. In fact, in post 2008 period, the resistance of Indian economy manifested by its impressive growth has been highly appreciated throughout the globe.
4. After having been an aid recipient, India has now joined the aid givers club. India has become a net creditor to IMF, since July 2003.

The current account is that part of Balance of Payment (BOP) account which details the balance of goods and services traded with the rest of the world. The excess of imports of goods and services over their export is referred to as Current Account Deficit (CAD). Robust demand for gold and continuing high crude oil prices (which India imports a lot), along with decelerating growth in emerging and developing economies, are responsible for adversely affecting India's trade balance. High rate of inflation persisting in the economy attracts cheap imports and makes export costly in the international market. High fiscal deficit run by the government is one factor behind the high inflation.

Correct answer is (3). 

The ASI extends to the entire nation, except the states of Arunachal Pradesh, Sikkim and Mizoram and the Union Territory of Lakshadweep.

The 1997-98 budget referred to nine well performing public sector enterprises - Navratnas, which were provided full financial and managerial autonomy to become global giants.

A sunrise industry is a new industry that is expanding rapidly (e.g. the telecom industry in the mid-1990s) and is expected to be increasingly important in the future. The term was coined in 1983 to describe the then new, successful manufacturing industries, upon which the economic sun was supposedly rising. This is also used as an antonym for an earlier term 'sunset industry'.

Correct answer is (3). 

Option (3) is the correct answer.