Current Affairs - Economy

Exercise :: Economy - Latest Current Affairs

  • Economy - Latest Current Affairs

The Asian Development Bank has reduced India's growth forecast for the current financial year to __________.

A. 7%
B. 6.8%
C. 7.1%
D. 6.5%

Answer: Option A


The Asian Development Bank (ADB) has reduced India's growth forecast for the current financial year to 7%. Earlier, it had announced a growth estimation of 7.2%. It reported in its Asian Development Outlook 2019. The Manila-based multilateral institution has lowered the country's forecast for for 2019-20 from 7.6% to 7.2% in April, 2019. It cited moderate global demand and shortfall in revenue on the domestic front. Now, India is expected to grow by 7% in 2019 and 7.2% in 2020, slightly slower than projected in April due to the less the fiscal 2018 outturn fell short. It also revised India's inflation forecast by 0.2% points to 4.1% in FY20 and 4.4% in FY21.


How much amount is given as monthly pension under Pradhan Mantri Shram Yogi Maan-Dhan?

A. 3000
B. 2500
C. 4200
D. 5000

Answer: Option A


This scheme assures the minimum monthly pension of 3000 rupees to the beneficiaries after attaining the age of 60 years. In February 2019, Government of India (GoI) launched a voluntary and contributory pension scheme, the Pradhan Mantri Shram Yogi Maandhan (PM-SYM) for the benefit of unorganized workers, as per the eligibility.


How much did the Centre allocated for Pradhan Mantri Gram Sadak Yojana-lll (PMGSY-III)?

A. Rs.65,500 crore
B. Rs.70,250 crore
C. Rs.78,750 crore
D. Rs.80,250 crore

Answer: Option D


PM led-Cabinet Committee on Economic Affairs (CCEA) approved for the launch of Pradhan Mantri Gram Sadak Yojana-lll (PMGSY-III). It involves consolidation of through Routes and Major Rural Links connecting habitations to Gramin Agricultural Markets (GrAMs) to consolidate 125,000 Km road length in the states. The project will be implemented from 2019-20 to 2024-25. The states will have to sign a Memorandum of Understanding (MoU) before launching of PMGSY-III in the respective states. This agreement is for providing adequate funds for maintenance of roads constructed under PMGSY post 5-year construction maintenance period. The estimated cost of Rs.80,250 crore. The funds would be shared in the ratio of 60:40 between the Centre and state for all states except for eight north eastern and three Himalayan states.


Which imported product's basic customs duty (BCD) was waived off by government of India recently?

A. Products for nuclear plants
B. Agricultural Products
C. Organic Products
D. Electronic Products

Answer: Option A


In order to reduce the dependency on carbon-based fuel for electricity generation, the Government of India (GoI) has waived off Basic Customs Duty (BCD) for the products which are imported for nuclear power plants. BCD of 7.5% for all goods for use in the generation of nuclear power & 2.5% for all forms of uranium ores and concentrates for the generation of nuclear power will now have no such duty.


'Golden Revolution' is related to?

A. Food grain Production
B. Fruit Production
C. Honey and Horticulture Production
D. Fish Production

Answer: Option C


Golden Revolution was the period between 1991-2003. Golden Revolution focuses on Honey and Horticulture production.