Question

Which of the following statements are correct regarding the 'Central Excise and Customs' and 'Insurance' MMPs?

1. Central Excise and Customs, managed by CBEC, aims to simplify tax procedures and promote trade.
2. The Insurance MMP is focused on digitizing processes within the general insurance sector to enhance customer services.
3. Both projects are primarily concerned with regulating foreign investment in India.
4. The Central Excise and Customs MMP aims to increase the complexity of tax filing for businesses.

• A. 1
• B. 3, 4
• C. 1, 2
• D. 3 മാത്രം

Answer 1

Answer:

C. 1, 2

The Central Excise and Customs MMP, overseen by the Central Board for Excise and Customs (CBEC), is designed to simplify procedures and foster a conducive environment for trade. The Insurance MMP focuses on modernizing the general insurance sector by digitizing services to improve customer experience. Both are distinct initiatives and not primarily focused on regulating foreign investment. Furthermore, the objective of the Central Excise and Customs MMP is simplification, not increased complexity, of tax filing.