Current Affairs - Economy

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Exercise :: Economy - Latest Current Affairs

  • Economy - Latest Current Affairs
1. 

Ministry of Finance approves __________ to upgrade Doordarshan and All India Radio.

A. Rs 850 crore
B. Rs 720 crore
C. Rs 680 crore
D. Rs 500 crore

Answer: Option A

Explanation:

Finance ministry has approved Rs 850 crore investment to upgrade Doordarshan (DD) and All India Radio (AIR). The sanctioned amount will be invested over FY19 and FY20. Decision came after Centre has started a manpower audit of Prasar Bharati, acting on the recommendation of an expert committee in 2014 led by Sam Pitroda which recommended that Prasar Bharati 'undertake a comprehensive manpower audit and human resources planning exercise to map workforce requirements for the future, in line with the public broadcaster's mandate'.

2. 

What will be the GDP rate of India for March 2019?

A. 7.1%
B. 7.2%
C. 7.3%
D. 7.4%

Answer: Option B

Explanation:

Moody's expects the real gross domestic product (GDP) in India to grow 7.2 per cent in the year ending March 2019 and 7.4 per cent in the following year. Earlier Moody's Investors service growth prediction for India was 7.5% in 2018-19, 7.5% in 2019-20 released on 23rd August,2018. This growth is driven by investment growth and strong consumption. The stable outlook is based on six parameters - operating environment, asset quality, capital, funding and liquidity, profitability and efficiency, and government support.

3. 

The name of the joint venture that was announced between Bombay Stock Exchange (BSE) and S&P Dow Jones is?

A. Asia Index
B. BSE index
C. BSE and S&P Index
D. S&P Jones Index

Answer: Option A

Explanation:

Bombay Stock Exchange (BSE), Asia's oldest bourse, is to snap ties with S&P Dow Jones. BSE plans to develop indices through its in-house development team. S&P Dow Jones manages and operates the benchmark Sensex. The two entities had announced a joint venture (JV) named Asia Index in 2013. The JV is to provide an array of indices enabling global and domestic investors to participate in South Asia's vibrant economies.

4. 

The Asian countries of RCEP have offered a concession to this country to open up its markets?

A. Thailand
B. Malaysia
C. Philippines
D. India

Answer: Option D

Explanation:

Several Asian member countries of the proposed Regional Comprehensive Economic Partnership (RCEP) have offered India a concession on the extent to which it needs to open up its markets. India can now open up 83% of its market against the earlier 92%. The RCEP is a proposed trade agreement between the ASEAN countries and the six free trade agreement partners.

5. 

Under which provision did the U.S. revoke the duty free imports on 50 Indian products?

A. Generalised Goods and Products System (GPS)
B. Goods and Services Tax (GST)
C. Generalised System of Preferences (GSP)
D. Goods and Preferred Supplies (GPS)

Answer: Option C

Explanation:

The U.S. revoked duty-free concessions on the import of at least 50 Indian products, mostly from handloom and agriculture sectors. The revocation is to reflect the Trump administration's tough stand on trade-related issues with New Delhi. The Federal Register issued a notification, listing 90 products which were so far subject to duty-free provisions under the Generalised System of Preferences (GSP), an oldest and largest U.S. trade preference programme. The GSP is designed to promote economic development by allowing duty-free entry for thousands of products from designated beneficiary-countries. A count of these products indicated that at least 50 of them are from India. Notably, India is the largest beneficiary of the GSP.