Basic General Knowledge
Modvat is

scheme which allows a manufacturer to claim instant reimbursement of the excise duty paid on the raw
a term used in excise which is a new scheme of indirect taxes
All of these
modified value added

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Basic General Knowledge
Recession is

slowing down of economic activity over a limited period
All of these
period that results from accumulation of unsold goods, owing to fall in demand
period during which unemployment may rise and demand and output may fall, leading to slump in trade

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Basic General Knowledge
The UN Flag is made up of

the white UN Emblem is super-imposed on a light blue background
the light blue UN Emblem is super-imposed on white background
None of these
the red UN Emblem is super-imposed on white background

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