Current Affairs - Economy

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Exercise : Economy - Latest Current Affairs
  • Economy - Latest Current Affairs
1.
What was India’s employment growth rate in FY24 according to the RBI report?
6%
3.2%
7%
8%
Answer: Option
Explanation:
India's employment growth rate in FY24, as per the RBI report, surged to 6% from 3.2% in FY23. This increase reflects the creation of 46.7 million jobs, bringing total employment to 643.3 million by March 2024. Despite this growth, concerns about rising unemployment rates highlight ongoing challenges in the labour market amidst varying economic assessments and projections.

2.
What is the projected GDP growth rate for India in FY25, according to NCAER?
6.5%
7.0%
7.2%
7.5%
Answer: Option
Explanation:
The National Council of Applied Economic Research (NCAER) forecasts India's GDP growth rate for the fiscal year 2024-25 (FY25) to potentially reach around 7.5%. This outlook suggests optimism about the resilience and growth momentum of the Indian economy, supported by various high-frequency indicators showing robust performance across sectors.

3.
What is S&P Global Ratings' forecast for India's GDP growth in FY25?
6.5%
6.7%
6.9%
6.8%
Answer: Option
Explanation:
S&P Global Ratings has maintained India's GDP growth estimate for FY25 at 6.8%. This projection takes into account factors such as high interest rates and reduced fiscal stimulus impacting demand in non-agricultural sectors, indicating a moderated growth outlook compared to previous fiscal years.

4.
In 2023, India's global ranking in terms of foreign direct investment (FDI) dropped to which position?
5th
10th
12th
15th
Answer: Option
Explanation:
According to UNCTAD's World Investment Report, India's ranking among global FDI recipients fell to 15th in 2023, marking a significant decline from its previous rank due to a 43% decrease in FDI inflows compared to 2022. This drop reflects broader global trends of cautious multinational investments amid economic uncertainties and geopolitical tensions impacting investment flows worldwide.

5.
In which state will the new major port be developed as part of the economic decisions announced by the Union Cabinet?
Uttar Pradesh
Maharashtra
Gujarat
Bihar
Answer: Option
Explanation:
The Union Cabinet has approved the development of a new major port at Vadhavan in Maharashtra's Palghar District. With a projected cost of ₹76,220 crore, this Greenfield deep draft port aims to enhance maritime infrastructure and contribute significantly to India's economic growth and trade capabilities.