Latest Indian Economy General Knowledge(GK) Questions and answers

1 .

What is the rate of interest on Sukanya Samriddhi Account Scheme for the quarter 1 of the financial year 2022-23 (Apr-Jun 2022)?

A)

7.20%

B)

7.40%

C)

7.60%

D)

7.80%

Correct Answer : 7.60%

Those who have Sukanya Samriddhi Yojana or SSY accounts would continue to get 7.60 percent SSY interest rate on their deposits in first quarter of the new financial year.

Similarly, post office small saving investor will continue to get return on their money they have got in the recently ended quarter.

2 .

Rating agency, Ind-Ra, has lowered the economic growth forecast rate of India's GDP in FY23 to what percent?

A)

6-6.8%

B)

7-7.2%

C)

7.5-7.9%

D)

8-8.4%

Correct Answer : 7-7.2%

India Ratings and Research (Ind-Ra) has revised downwards the GDP growth forecast for India in FY23 to 7-7.2 percent.

3 .

As per latest report of ICRA, what is the projected GDP growth rate for India in 2022-23 fiscal?

A)

6.4%

B)

7.2%

C)

8.1%

D)

8.5%

Correct Answer : 7.2%

Rating agency ICRA has lowered the growth forecast for India’s GDP in 2022-23 (FY23) to 7.2%. Earlier this rate was 8%. The ICRA Ltd. has projected the GDP growth forecast for 2021-22 (FY22) at 8.5%.

4 .

What is India's GDP growth rate projection for 2022-23 (FY23) as per Organization for Economic Cooperation and Development (OECD)?

A)

7.2%

B)

7.6%

C)

7.9%

D)

8.1%

Correct Answer : 8.1%

For 2022-23 (FY23)= 8.1%; For 2023-24 (FY24)= 5.5%

5 .

What is the interest rate fixed by EPFO on provident fund deposits for the financial year 2021-22?

A)

8.50%

B)

8.35%

C)

8.25%

D)

8.10%

Correct Answer : 8.10%

The retirement fund body, Employees Provident Fund Organisation (EPFO) has slashed interest rate on provident fund deposits to 8.10% for 2021-22. This rate is 0.4% lower than previous year. The interest rate on PF deposit was 8.5% in 2020-21 and 2019-20.

6 .

What is the latest projection of India's GDP growth as per Morgan Stanley for the fiscal 2022-23?

A)

7.9%

B)

8.2%

C)

8.7%

D)

9.4%

Correct Answer : 7.9%

Rating Agency Morgan Stanley has projected India’s GDP growth forecast for 2022-23 (FY23) at 7.9%.

7 .

According to Moody's, what is the GDP growth forecast for India in the calendar year 2022?

A)

7.6%

B)

8.4%

C)

9.5%

D)

9.8%

Correct Answer : 9.5%

Ratings agency Moody's Investor Service has revised India's growth forecast upwards to 9.5% from 7% earlier for the Calendar Year 2022 (CY22), and retained its forecast of 5.5% for CY23.

The speed of the recovery from the first lockdown-led contraction in Q2 2020, and subsequently in Q2 2021 during the Delta wave, was stronger than expected, and the economy is estimated to have surpassed the pre-Covid level of GDP by more than 5% in the last quarter of 2021, Moody's said.

Source : Live Mint

8 .

What is the estimated GDP growth rate of India in the FY22, as per India Ratings?

A)

10.1 percent

B)

8.6 percent

C)

7.3 percent

D)

6.5 percent

Correct Answer : 8.6 percent

India Ratings has revised downwards its GDP growth forecast for 2021-22 to 8.6 percent from the consensus 9.2 percent projected earlier. According to an India rating analysis, National Statistical Organisation (NSO) is likely to peg the FY22 real gross domestic product growth at Rs 147.2 lakh crore.

This translates into a GDP growth rate of 8.6 percent, down from the 9.2 percent forecast in the first advance estimate released on January 7, 2022.

9 .

India has inked Comprehensive Economic Partnership Agreement (CEPA) with UAE. The agreement aims to increase the bilateral trade between the two countries from the current USD 60 billion to________ in the next 5 years

A)

USD 100 billion

B)

USD 120 billion

C)

USD 140 billion

D)

USD 155 billion

Correct Answer : USD 100 billion

A Comprehensive Economic Partnership Agreement (CEPA) was signed between Minister of Commerce and Industry Shri Piyush Goyal and Minister of Economy of UAE, H.E. Abdulla bin Touq Al Marri. The CEPA, is a free trade agreement (FTA) between the two countries to increase the bilateral trade from the current USD 60 billion to USD 100 billion in the next 5 years.

10 .

The global trade (goods & services) recorded what percent increase in 2021, over the previous year 2020, as per the annual Global Trade Update 2022 released by UNCTAD?

A)

14%

B)

17%

C)

20%

D)

25%

Correct Answer : 25%

The UN Conference on Trade and Development (UNCTAD) released its annual Global Trade Update 2022 on 17 February 2022, which shows that the value of global trade, both in goods and services, reached a record level of $28.5 trillion in 2021. This is an increase of 25% compared to 2020 and 13% higher compared to 2019.

Indian Economy - General Knowledge Questions