Latest Business and Economics General Knowledge(GK) Questions and answers

1 .

How many lakh crore GST collection will reach in December 2021?

A)

Rs 1.04 lakh crore

B)

Rs 1.13 lakh crore

C)

Rs 1.20 lakh crore

D)

Rs 1.29 lakh crore

Correct Answer : Option (D) - Rs 1.29 lakh crore

GST revenue collected in December 2021 was over Rs 1.29 lakh crore, 13% higher than the same month in 2020. The gross GST revenue collected in the month of December 2021 is â‚¹ 1,29,780 crore, of which CGST is â‚¹ 22,578 crore, SGST is â‚¹ 28,658 crore, IGST is Rs 69,155 crore (including Rs 37,527 crores collected on import of goods) and cess is Rs 9,389 crore.

Though the collection was lower than Rs 1.31 lakh crore mopped up in November, December is the sixth month in a row when revenue from goods sold and services rendered stood at over Rs 1 lakh crore. The average monthly gross GST collection for the third quarter (October-December) of the current year has been Rs 1.30 lakh crore against the average monthly collection of Rs 1.10 lakh crore and Rs 1.15 lakh crore in the first and second quarter, respectively.

2 .

Which rating agency estimates that India will grow by 9% in FY2022-2023?

A)

ICRA Rating

B)

CARE Rating

C)

Fitch Ratings

D)

S&P Global Ratings

Correct Answer : Option (A) - ICRA Rating

ICRA Ratings agency has maintained its forecast of a 9.0% GDP expansion in FY2022, with a clear K-shaped divergence amongst the formal and informal sectors of the economy. The ratings agency also expect the economy to maintain a similar 9.0% growth in FY2023.

ICRA has said the expansion in FY2023 is expected to be more “meaningful and tangible" than the base effect-led rise in FY22.

3 .

Which govt partnered with NPCI and SBI to implement 'e-RUPI'?

A)

Kerala

B)

Karnataka

C)

Haryana

D)

Uttar Pradesh

Correct Answer : Option (B) - Karnataka

The Karnataka government’s e-Governance department has partnered with the National Payments Corporation of India (NPCI) and State Bank of India (SBI) for enabling and implementing ‘e-RUPI’, a cashless and contactless payment solution to students under its scholarship programme.

e-RUPI will be used to ensure a leak-proof delivery of education fees of eligible students by paying digitally to the college or institute by the Karnataka government...

Source : Hindustan Times

4 .

Who has tied up with NSDL Payments Bank to launch the new FinTech platform?

A)

PayPal

B)

Indipaisa

C)

MoneyGram

D)

Ria Money Transfer

Correct Answer : Option (B) - Indipaisa

Indipaisa, a member of the Nexxo Network, an international network of Fintech companies operating in Middle East Asia and Europe, is launching a set of innovative Financial Technology (Fintech) solutions targeting India's flourishing 63 million Small & Mid-sized Enterprise (SME) sector.

Indipaisa's mission is to empower SME owners and operators to take charge of their finances as well as give them facilities and services that help them grow their businesses, comply with government tax laws, and build a better future for their families.

Indipaisa, in partnership with NSDL Payments Bank, plans to introduce multiple financial products and services customized from the ground up to match the specific needs of Indian SME owners and operators. Furthermore, Indiapaisa is proud to be part of the Government of India and the Reserve Bank of India's drive to digitize payments, estimated to exceed USD 1.0 Trillion annually by the year 2025.

5 .

Whom did SEBI include as a member of the MF Advisory Panel in Dec 2021?

A)

Madhu sudhan

B)

Rama Kanth

C)

Aarati Krishnan

D)

Rajeswari Chandra shekhar

Correct Answer : Option (C) - Aarati Krishnan

Aarati Krishnan, Editorial Consultant with BusinessLine, has been inducted as a member of the Securities and Exchange Board of India’s Advisory Committee on Mutual Funds, according to a release by the stock market regulator posted on its website.

The committee, chaired by Usha Thorat, former Deputy Governor of Reserve Bank of India, advises SEBI on matters related to mutual fund regulation to ensure investor protection, development of the industry and disclosure requirements. It suggests measures required to be taken to render the legal framework for mutual funds transparent and simple for investors and constituents. The committee has 24 members comprising CEOs of leading mutual fund houses as well as representatives from academia, exchanges, consumer interest groups, fund trustees, rating agencies, distribution firms and media.

Aarati has been with BusinessLine since 1995, writing extensively on the mutual funds industry, markets and economy.

Source : The Hindu BusinessLine

6 .

Which company has filed a writ petition against ED?

A)

Meta

B)

Google

C)

Snapchat

D)

Amazon

Correct Answer : Option (D) - Amazon

* Amazon has filed a writ petition in the Delhi high court against India’s ED.

* The ecommerce company has accused ED of unnecessarily harassing its employees and overstepping its authority.

* ED initiated an investigation into the Amazon-Future Coupon deal of 2019.

Amazon has filed a writ petition in the Delhi High Court against India’s Enforcement Directorate (ED), seeking clarification on the “unnecessary” summons issued to the ecommerce player’s employees.

The Jeff Bezos-led company has highlighted that the investigative agency is summoning multiple executives, which amounts to unnecessary harassment. Besides this, the company also noted that the ED is carrying out the investigation in a manner that is “beyond the scope and power” under India’s foreign exchange laws.

Source : Business Insider

7 .

Who has signed a partnership agreement with Udemy Business to encourage skill employees?

A)

National Payments Corporation of India (NPCI)

B)

Confederation of Indian Industry (CII)

C)

Data Security Council of India (DSCI)

D)

Integrated Rural Development Program (IRDP)

Correct Answer : Option (A) - National Payments Corporation of India (NPCI)

National Payments Corporation of India (NPCI) has signed a partnership agreement with Udemy Business, to encourage innovative learning and skill development for employees of NPCI. The 3-year partnership with Udemy Business will offer courses on in-demand skills such as tech, domain, behavioural, and leadership skills to all NPCI employees. Through the mission ‘Talent Development for All’ of NPCI, it provides capacity-building programmes in Artificial Intelligence (AI), Machine Learning (ML), Blockchain, Distributed Ledger Technology (DLT), Robotic Process Automation (RPA), etc.

8 .

Who has acquired a 4.93% equity share in Indian Gas Exchange Limited?

A)

Bharat Petroleum(BP)

B)

Hindustan Petroleum(HP)

C)

Indian Oil Corporation Limited (IOCL)

D)

Oil and Natural Gas Corporation(ONGC)

Correct Answer : Option (C) - Indian Oil Corporation Limited (IOCL)

Indian Oil Corporation Limited (IOCL) has announced that it has acquired a 4.93 percent equity share in Indian Gas Exchange Limited – the country’s first automated national level gas exchange. The Board of Indian Oil at its meeting held on 20th December 2021 has accorded approval for the acquisition of 36,93,750 equity shares of the face value of Rs. 10/- each equivalent to 4.93 percent of the share capital in Indian Gas Exchange Limited (IGX).

9 .

How many billion dollars did India record the highest annual FDI inflow in 2020-21?

A)

$ 73.07 billion

B)

$ 81.97 billion

C)

$ 89.13 billion

D)

$ 96.45 billion

Correct Answer : Option (B) - $ 81.97 billion

India : The country registered the highest ever annual foreign direct investment (FDI) inflow of $ 81.97 billion (provisional figure) in the financial year 2020-21, according to the Ministry of Commerce and Industry. FDI inflows in the last seven financial years (2014-21) stands at $ 440.27 billion, which is nearly 58% of the total FDI inflow in the last 21 financial years (2000-2021: $ 763.83 billion).

Source : NDTV

10 .

Fitch Ratings cuts India's FY22 GDP Growth Forecast to ________

A)

8.1%

B)

8.4%

C)

9.2%

D)

10.6%

Correct Answer : Option (B) - 8.4%

Fitch Ratings has slashed India's economic growth forecast in the financial year 2021-22 (FY22) to 8.4% and raised the growth projection to 10.3% for FY23, compared to October 2021 rating projections of 8.7% (FY22) and 10% (FY23).