Current Affairs - Economy

Why Current Affairs Economy?

In this section you can learn and practice Current Affairs Questions based on "Economy" and improve your skills in order to face the interview, competitive examination and various entrance test (CAT, GATE, GRE, MAT, Bank Exam, Railway Exam etc.) with full confidence.

Where can I get Current Affairs Economy questions and answers with explanation?

IndiaBIX provides you lots of fully solved Current Affairs (Economy) questions and answers with Explanation. Solved examples with detailed answer description, explanation are given and it would be easy to understand. All students, freshers can download Current Affairs Economy quiz questions with answers as PDF files and eBooks.

Where can I get Current Affairs Economy Interview Questions and Answers (objective type, multiple choice)?

Here you can find objective type Current Affairs Economy questions and answers for interview and entrance examination. Multiple choice and true or false type questions are also provided.

How to solve Current Affairs Economy problems?

You can easily solve all kind of Current Affairs questions based on Economy by practicing the objective type exercises given below, also get shortcut methods to solve Current Affairs Economy problems.

Exercise :: Economy - Latest Current Affairs

  • Economy - Latest Current Affairs
1. 

India has boosted the Customs Duty on all the goods imported from Pakistan to how much percent?

A. 180%
B. 200%
C. 150%
D. 160%

Answer: Option B

Explanation:

India with immediate effect has boosted the Customs Duty on all the goods imported from Pakistan to 200% followed by the day after India repealed Most Favoured Nation (MFN) status from Pakistan. This punitory move followed by the Pulwana Terrorist attack that led to the death of 42 CRPF (Central Reserve Police Force). This step is likely to strike Pakistan's exports to India which were $381 million in the April-Nov period and for overall FY18, it was $489 million. This 200% tariff rate is higher than the average bound rate of 113.5% for agriculture products and 34.6% for non-agriculture products. The MFN applied rates are 32.8% and 10.7%, respectively for farm and non-farm products.

2. 

In which City does Prime Minister Narendra Modi launched laid foundation stone of Defence Corridor?

A. Prayagraj
B. Varanasi
C. Lucknow
D. Jhansi

Answer: Option D

Explanation:

PM Modi on his visit to Jhansi laid foundation stone of Defence Corridor which will create a lot of direct and indirect employment to the youth in the region. Government decided to establish 2 defence corridors in the country, one at Tamil Nadu and the other in Uttar Pradesh. Jhansi is one among six nodal points of the UP defence corridors.The Defence Corridor will make India independent in defence production. The project will also attract many foreign and domestic Defence related companies to invest in the region.

3. 

What is the new GST Recommended by Government Panel for under-construction residential properties?

A. 5%
B. 8%
C. 12%
D. 15%

Answer: Option A

Explanation:

Government panel recommended lowering GST on under-construction residential properties to 5%. The GST rate for under-construction flats earlier was 12%.The Group of Ministers headed by Nithin Patel was formed to analyse tax rates and issues or challenges being faced by the real estate sector under the Goods and Services Tax (GST) regime.The seven member ministerial panel also favoured lowering GST on affordable housing from 8% earlier to 3%.The move will give relief to homebuyers as the tax rate had lowered sharply with no input tax credit. Any cut in GST should reduce the adverse impact on the land abatement rate also.

4. 

Which city is the venue of the ICT Academy Bridge 2019 conference?

A. Jaipur
B. New Delhi
C. Pune
D. Chennai

Answer: Option D

Explanation:

In Tamil Nadu, the 37th edition of the ICT Academy Bridge 2019 conference was held in Chennai with theme "Fostering India for Industry 4.0".

5. 

How much will be allotted under the Pradhanmantri Kisan Samman Nidhi Yojna as per the union Budget 2019?

A. Rs. 55000 crore
B. Rs. 75000 crore
C. Rs. 30000 crore
D. Rs. 85000 crore

Answer: Option B

Explanation:

The Union Minister Piyush Goyal announced various schemes in the Interim Union Budget 2019-20 on February 1, 2019. Government announced fixed yearly income for small and marginal farmers under Pradhanmantri Kisan Samman Nidhi Yojna. This scheme will benefit about 12 crore farmers who have 2 Hectare land. Rupee 6000 per year direct cash transfer in their account. Cash transfer will be given in three equal installments of Rs 2000 each. The benefit under this yojna will be given retrospectively from December 2018. Rs. 75000 crore allotted for this scheme. It is expected to double the farmers income.