Current Affairs - Economy

Exercise :: Economy - Latest Current Affairs

  • Economy - Latest Current Affairs
26. 

In accordance with the India Ratings and Research, India's Gross domestic Product is likely to shrink by what percent in FY20-21?

A. 5.3%
B. 3.3%
C. 4.3%
D. 2.3%

Answer: Option A

Explanation:

In accordance with the India Ratings and Research (Ind-Ra), India's Gross domestic Product (GDP) is likely to shrink by 5.3% in FY20-21, the lowest GDP growth in the Indian history. It will contract in each quarter in FY21 (April 2020 to March 2021). For FY21-22, it is expected that GDP growth would bounce back in the range of 5-6%.

27. 

According to the Moody's Global Macro Outlook report for June 2020, there will be a contraction of how much percent in India's gross domestic product in 2020?

A. 3.1 %
B. 3.9 %
C. 4.1 %
D. 4.9 %

Answer: Option A

Explanation:

According to the Moody's Global Macro Outlook report for June 2020, there will be a contraction of 3.1 % in India's gross domestic product (GDP) in 2020 & expects a change in geographical conditions in Asia due to tensions at the border between India and China. The slight relief for India is that GDP will reach the level of 6.9% in 2021. Till then, there will be a slow recovery in the Indian economy.

28. 

According to SBI report per capita income will decline by how much percent during 2020-21?

A. 4.4%
B. 2.4%
C. 3.4%
D. 5.4%

Answer: Option D

Explanation:

According to SBI report per capita income will decline by 5.4% during 2020-21 to Rs 1.43 lakh.

29. 

The Fifteenth Finance Commission commission has recommended the grant of how much Rs. for the period FY 2020-21 for Rural Local Bodies?

A. Rs.70,750 cr
B. Rs.60,750 cr
C. Rs.65,750 cr
D. Rs.55,750 cr

Answer: Option B

Explanation:

The Fifteenth Finance Commission (XV FC) has submitted its interim report for the period FY 2020-21 and the Government of India has accepted its recommendations in respect of the Rural Local Bodies (RLBs). The commission has recommended the grant of Rs.60,750 cr for the period FY 2020-21 for RLBs which is the highest ever allocation made by the Finance Commission in any single year.

30. 

Who has been appointed as the Chairman of National Institute of Public Finance and Policy?

A. Urjit Patel
B. Amitabh Kant
C. Raghuram Rajan
D. Rajiv Gauba

Answer: Option A

Explanation:

The former governor of Reserve Bank of India (RBI) Urjit Patel was appointed as the Chairman of National Institute of Public Finance and Policy (NIPFP). He will start his 4 year tenure on 22nd June 2020 succeeding Vijay Laxman Kelkar, former chairman of NIPFP.