Latest Indian Economy General Knowledge(GK) Questions and answers

1 .

By what percentage did Morgan Stanley downgraded India's growth forecast to FY2023?

A)

6.2%

B)

6.7%

C)

7.2%

D)

7.6%

Correct Answer : 7.6%

Morgan Stanley downgraded India’s growth forecast to 7.6% from 7.9% for FY2023 amid a slowdown in global growth, higher commodity prices and risk aversion in global capital markets. This 7.6% forecast is a baseline forecast for India while its bearish and bullish growth projections are 6.7% and 8%, respectively.

* For FY24, it lowered its growth forecast to 6.7% from the 7% estimated earlier.

* However, the Indian economy will expand at above pre-pandemic growth rates in FY23 and FY24.

* On the global front, it projected growth at 2.9% in the calendar year 2022 as compared to 6.2% growth in 2021.

* Within Asia, India would be the economy which will be most exposed to upside risks to inflation.

* CPI (Consumer Price Index) inflation is expected to be 6.5% for FY23.

* The current account deficit to widen to a 10-year high of 3.3% of GDP (Gross Domestic Product) in FY23.

2 .

GST collections in April 2022 touch all-time high of Rs _______ lakh crores.

A)

â‚¹2.10 lakh crore

B)

â‚¹1.96 lakh crore

C)

â‚¹1.68 lakh crore

D)

â‚¹1.57 lakh crore

Correct Answer : â‚¹1.68 lakh crore

Goods and services tax (GST) collections hit an all-time high of â‚¹1.68 lakh crore in April 2022, indicating strong economic activity despite multiple headwinds and better tax compliance. The April number is up 20% from the year earlier and â‚¹25,000 crore more than the previous highest of â‚¹1.42 lakh crore in March this year.

"Total number of e-waybills generated in the month of March 2022 was 7.7 crore, which is 13% higher than 6.8 crore e-way bills generated in the month of February 2022, which reflects recovery of business activity at faster pace," a finance ministry statement said on Sunday.

The ministry also attributed the jump in the returns filed to "strict enforcement action taken against errant taxpayers identified based on data analytics and artificial intelligence."..

Source : Economic Times

3 .

AS per IMF, what is the projected GDP Growth rate of India in FY23?

A)

8.2%

B)

8.7%

C)

9.2%

D)

9.8%

Correct Answer : 8.2%

The International Monetary Fund (IMF) has slashed the Gross Domestic Product (GDP) growth forecast for India in FY23 to 8.2% in its latest World Economic Outlook report, released on April 19, 2022.

4 .

What is the projected GDP growth rate of India in FY23 as per the World Bank?

A)

7%

B)

8%

C)

8.6%

D)

9.8%

Correct Answer : 8%

The World Bank has slashed the GDP growth forecast for India in FY2022/23 to 8% in its bi-annual “South Asia Economic Focus” report, due to the negative impact of the war in Ukraine on FY23 growth. Earlier in January 2022, the growth forecast for FY23 was estimated at 8.7%.

5 .

Centre has exceeded the asset monetization target set for FY22, after it realised Rs 96,000 crore during FY22. What was the target set for the FY22?

A)

Rs 88,000 crore

B)

Rs 90,570 crore

C)

Rs 93,050 crore

D)

Rs 95,630 crore

Correct Answer : Rs 88,000 crore

The Government of India has exceeded its asset monetization target of Rs 88,000 crore set for the financial year 2021-22 (FY22). As per the assessment, Centre has completed asset monetisation worth Rs 96,000 crore during FY22.

6 .

What is the total asset monetization target set by Government for the financial year 2022-23 (FY23)?

A)

Rs 1.36 trillion

B)

Rs 1.49 trillion

C)

Rs 1.54 trillion

D)

Rs 1.62 trillion

Correct Answer : Rs 1.62 trillion

For FY23 (2022-23), the Central government has set asset monetization goal of Rs 1.62 trillion.

7 .

The RBI Monetary Policy Committee has projected how much GDP growth for FY23?

A)

6.4%

B)

6.8%

C)

7.2%

D)

7.9%

Correct Answer : 7.2%

The RBI Monetary Policy Committee has projected India's real GDP growth to be 7.2% in the Fiscal Year 2022-23. The committee has voted to keep the repo and reverse repo rates unchanged at 4% for the straight 11th time in a row. The CPI inflation is now projected at 5.7% in 2022-23, with 6.3% in Q1, 5.8% in Q2, 5.4% in Q3 and 5.1% in Q4.

8 .

According to ADB, what is the estimated GDP growth rate of India in FY23?

A)

6.7%

B)

7.1%

C)

7.5%

D)

8.0%

Correct Answer : 7.5%

India's economy is likely to grow 7.5% in FY23 and 8% in FY24, supported by increased public investment in infrastructure and a pickup in private investment, the Asian Development Bank (ADB) said on Wednesday. India's Gross Domestic Product (GDP) likely grew 8.9% in FY22, it said.

In its Asian Development Outlook 2022, the Manila-based multilateral lender said uncertain global economic conditions, renewed Covid-19 outbreaks and new variants, monetary policy tightening in the US, and unexpected and sharp rises in commodity prices were key risks to the outlook.

Source : Economic Times

9 .

Indian Economy has been projected to grow by how much percent in the current fiscal as per Asian Development Bank?

A)

7.1 percent

B)

7.5 percent

C)

8.2 percent

D)

8.9 percent

Correct Answer : 7.5 percent

The Asian Development Bank (ADB) informed on April 6, 2022 that the Indian economy is projected to grow by 7.5 percent in the current financial year. The growth is expected to accelerate to 8 percent in 2023-24.

10 .

As per FICCI, what is the estimated GDP growth rate projection of India in FY23?

A)

7.4%

B)

7.8%

C)

8.3%

D)

8.9%

Correct Answer : 7.4%

The Federation of Indian Chambers of Commerce & Industry (FICCI) has estimated India’s GDP to grow at 7.4 percent in the financial year 2022-23 (FY23).