{"id":36539,"date":"2024-04-15T10:03:29","date_gmt":"2024-04-15T10:03:29","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=36539"},"modified":"2024-04-15T10:03:29","modified_gmt":"2024-04-15T10:03:29","slug":"the-new-government-has-abolished-the-gold-control-act","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/the-new-government-has-abolished-the-gold-control-act\/","title":{"rendered":"The new government has abolished the Gold Control Act."},"content":{"rendered":"

[amp_mcq option1=”approved” option2=”passed” option3=”restored” option4=”removed” correct=”option4″]<\/p>\n

The correct answer is D. removed.<\/p>\n

The Gold Control Act was a law passed in India in 1968 that placed restrictions on the import, export, and possession of gold. The law was designed to conserve India’s foreign exchange reserves and to prevent the hoarding of gold.<\/p>\n

In 2016, the new government of India abolished the Gold Control Act. This was done in order to promote investment in gold and to make it easier for Indians to buy and sell gold.<\/p>\n

The other options are incorrect because they do not accurately describe the action that the new government took. Option A, approved, is incorrect because the new government did not approve the Gold Control Act. Option B, passed, is incorrect because the new government did not pass the Gold Control Act. Option C, restored, is incorrect because the new government did not restore the Gold Control Act.<\/p>\n","protected":false},"excerpt":{"rendered":"

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