Exercise :: Economy - Latest Current Affairs
- Economy - Latest Current Affairs
| 1. | ADB approves USD __________ million to India to fight against COVID-19 pandemic. |
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Answer: Option A Explanation: Multilateral funding agency Asian Development Bank (ADB) has approved a $3 million (about Rs.22 crore) grant to India from its Asia Pacific Disaster Response Fund. They further support the government's emergency response to the COVID-19 pandemic. The grant is financed by the Japanese government. The funds will be used to procure thermal scanners and essential commodities to strengthen India's COVID-19 response.
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| 2. | ICRA Limited projects India's Gross Domestic Product to contract by what percent in FY21? |
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Answer: Option D Explanation: ICRA Limited (formerly Investment Information and Credit Rating Agency) projects India's Gross Domestic Product(GDP) to contract by 9.5%(-9.5%) in FY21 from 5% earlier forecasted as ongoing lockdowns in some states have affected the recovery seen in May and June 2020.
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| 3. | In accordance with the Dun and Bradstreet's Country Risk and Global Outlook Report the global economy is likely to contract by how much percent in 2020? |
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Answer: Option D Explanation: In accordance with the Dun and Bradstreet's (D&B) Country Risk and Global Outlook Report, which has covered 132 countries, the global economy is likely to contract by 5.2% in 2020. This is the biggest decline since the Second World War and a far stronger contraction than the 1.7% recorded in 2009 during the global financial crisis. As per report, the global economy will not reach pre-pandemic levels of activity again before 2022.
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| 4. | India's GDP will contract by how much percnet in FY21 because of the COVID-19 pandemic, according to BofA Securities? |
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Answer: Option B Explanation: BofA Securities, a foreign brokerage, stated that India's GDP will contract by 3% in FY21 because of the COVID-19 pandemic, assuming the economy is opened up fully from next month. The Indian GDP will contract this fiscal, with some estimates ranging up to 7% negative growth.
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| 5. | RBI conducted the simultaneous purchase of Government Securities maturing between 2027 and 2033, and sale of 182 day and 364 day treasury bills under Open Market Operations for how much worth each? |
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Answer: Option B Explanation: Reserve Bank of India conducted the simultaneous purchase of Government Securities, maturing between 2027 and 2033, and sale of 182 day and 364 day treasury bills (DTBs) under Open Market Operations for Rs 10,000 crore each. This OMO is a part of "Operation Twist" to ease pressure evolving liquidity and market conditions. The main purpose of the OMO is to bring down the yields at the longer end.
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