Current Affairs - Economy

Exercise :: Economy - Latest Current Affairs

  • Economy - Latest Current Affairs
11. 

RBI projected India's growth to what percent?

A. 4.5%
B. -4.5%
C. 6%
D. -6%

Answer: Option B

Explanation:

On August 25, 2020, Reserve Bank of India (RBI) released its Annual Report for 2019-20. It is Report of the Central Board of Directors on the working of the Reserve Bank of India (RBI) for the year ended June 30, 2020 submitted to the Central Government in terms of Section 53(2) of the Reserve Bank of India Act, 1934. In the report, RBI projected that India's growth at minus 4.5% for 2020-21. It will be (-) 3.7% in the single hit scenario and (-) 7.3% in the double hit scenario in FY2020-21.

12. 

Barclays Slashes India's GDP growth to What percent in FY21?

A. +3%
B. -6%
C. +5%
D. -4%

Answer: Option B

Explanation:

Barclays has predicted India's GDP to contract by 6% in 2020-21 (FY21). Earlier it had estimated a contraction of 3.2%.The reason for this downward revision of GDP is India's rising coronavirus infection curve. For FY22, Barclays has predicted India's GDP at 7% as compared to 7.4% earlier.

13. 

ADB approves USD __________ million to India to fight against COVID-19 pandemic.

A. 3 Million
B. 2 Million
C. 5 Million
D. 8 Million

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.

14. 

ICRA Limited projects India's Gross Domestic Product to contract by what percent in FY21?

A. 4.5%
B. 6.5%
C. 8.5%
D. 9.5%

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.

15. 

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?

A. 3.2%
B. 4.2%
C. 2.2%
D. 5.2%

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.