Current Affairs - Economy

Exercise :: Economy - Latest Current Affairs

  • Economy - Latest Current Affairs
16. 

Which organisation shortlisted Airtel, Wipro and others to revamp its communication system?

A. Telecom Ministry
B. SEBI
C. SIDBI
D. RBI

Answer: Option B

Explanation:

Securities and Exchange Board of India which is responsible for regulating the Indian market in order to revamp its IT infrastructure network and communication system shortlisted top companies which includes, Bharti Airtel and Wipro and others.

17. 

Fitch projected Indian economy to contract by what percent in the FY21?

A. 5%
B. 7.5%
C. 10.5%
D. 15%

Answer: Option C

Explanation:

Fitch Ratings on Tuesday slashed India's FY21 growth projection to (-) 10.5 per cent, from (-) 5 per cent estimated earlier, saying the continued spread of the virus and imposition of sporadic shutdowns across the country has disrupted economic activity.

18. 

How many sectors identified for loan restructuring?

A. 15
B. 21
C. 26
D. 36

Answer: Option C

Explanation:

On September 7, 2020, the five member committee under the leadership of the former chief of New Development Bank K V Kamath submitted its report to the Reserve Bank of India. The panel was formed to make recommendations on financial parameters to be considered for one-time restructuring of loans that were affected by COVID-19 pandemic. Kamath Committee identified 26 sectors for loan restructuring.

19. 

India's real GDP likely to contract by what percent in FY21?

A. 10.9
B. 15.9
C. 23.9
D. 29.63

Answer: Option A

Explanation:

The State Bank of India's (SBI) Ecowrap report estimated that the real Gross domestic Product(GDP) for FY21 is expected to shrink by around 10.9%(-10.9%), a decline of full year growth, against its earlier estimate of 6.8%.

20. 

India's GDP growth contract by what percent in April-June quarter?

A. 10.6
B. 23.9
C. 29.3
D. 35.6

Answer: Option B

Explanation:

In accordance with the official data released by the National Statistical Office (NSO), Union ministry of statistics and programme implementation (Mospi) on August 31, 2020, India's gross domestic product (GDP) contract by 23.9% (-23.9%) in April-June period quarter of 2020 due to downfall in businesses and livelihood amid COVID-19 pandemic induced nationwide lockdown restrictions.