Current Affairs Questions on The Economy Survey 2018-19

Current Affairs Questions on The Economy Survey 2018-19

Current Affairs Questions on The Economy Survey 

Nirmala Sitharaman the Finance Minister of India tabled this years’ Economy Survey 2018-19. With this, it’s time to analyze the Questions from Economy Survey that are being asked in the General/Economy/Financial awareness section of almost all the examinations from the past couple of years. Keeping in mind the important highlights of the Economy Survey 2018-19 Adda247 has prepared an Economy Survey based current affairs quiz. So get cracking.



Q1. According to Economy Survey 2018-19, The Government has projected the real GDP growth for the year 2019-20 at ___________________ percent, on the back of anticipated pickup in the growth of investment and acceleration in the growth of consumption.
8.00%
7.75%
7.50%
7.25%
7.00%
Solution:
The Government has projected the real GDP growth for the year 2019-20 at 7 percent, on the back of the anticipated pickup in the growth of investment and acceleration in the growth of consumption.

Q2. Who has tabled the Economic Survey 2018-19 in Parliament on 04th July and clearly stated that the year 2019-20 has delivered a huge political mandate for the government?
Nirmala Sitharaman
Piyush Goyal
Arun Jaitley
Jayant Sinha
Anurag Thakur
Solution:
The Union Minister for Finance and Corporate Affairs, Smt Nirmala Sitharaman tabled the Economic Survey 2018-19 in Parliament today (04th July 2019), which clearly stated that the year 2019-20 has delivered a huge political mandate for the government, which augurs well for the prospects of high economic growth.

Q3. Report projecting a decline in growth of world output and that of EMDEs by 0.3 and 0.1 percentage points respectively. What is the full form of EMDEs?
Emerging Management and Developing Economies
Emerging Market and Department Economies
Emerging Market and Developing Economies
Economy Market and Developing Emerging
Emerging Mangoman and District Economies
Solution:
Report projecting a decline in growth of world output and that of Emerging Market and Developing Economies (EMDEs) by 0.3 and 0.1 percentage points respectively.

Q4. India continues to remain the fastest growing major economy in the world in 2018-19, despite a slight moderation in its GDP growth from 7.2 percent in 2017-18 to ______________ percent in 2018-19.
7.00%
6.50%
7.10%
6.80%
6.90%
Solution:
India continues to remain the fastest growing major economy in the world in 2018- 19, despite a slight moderation in its GDP growth from 7.2 percent in 2017-18 to 6.8 percent in 2018-19.

Q5. What is the world output growth in 2018?
4.50%
3.60%
4.00%
3.80%
5.00%
Solution:
The world output growth declined from 3.8 percent in 2017 to 3.6 percent in 2018.

Q6. India’s growth of real GDP has been high with average growth of _____________ in the last 5 years (2014-15 onwards).
6.50%
7.25%
7.75%
7.00%
7.50%
Solution:
India’s growth of real GDP has been high with average growth of 7.5 per cent in the last 5 years (2014-15 onwards). The Indian economy grew at 6.8 per cent in 2018-19, thereby experiencing some moderation in growth when compared to the previous year.

Q7. On the external front, CAD has increased from 1.9 per cent of GDP in 2017-18 to 2.6 per cent in April-December 2018. CAD stands for-?
Current Account Department
Current Account Degree
Current Account Decline
Current Account Deficit
Current Account Decrease
Solution:
On the external front, current account deficit (CAD) increased from 1.9 per cent of GDP in 2017-18 to 2.6 per cent in April-December 2018 . The widening of the CAD was largely on account of a higher trade deficit driven by rise in international crude oil prices (Indian basket).

Q8. The trade deficit has increased from US$ 162.1 billion in 2017-18 to US$ ______________ in 2018-19.
196 billion
187 billion
184 billion
191 billion
202 billion
Solution:
On the external front, current account deficit (CAD) increased from 1.9 per cent of GDP in 2017-18 to 2.6 per cent in April-December 2018 . The widening of the CAD was largely on account of a higher trade deficit driven by rise in international crude oil prices (Indian basket). The trade deficit increased from US$ 162.1 billion in 2017-18 to US$ 184 billion 2018-19.

Q9. According to Economy Survey 2018-19, the Merchandise imports reduced from 21.1 percent to-
15.2 percent
10.4 percent
18.7 percent
20.5 percent
12.6 percent
Solution:
Merchandise imports reduced from 21.1 per cent to 10.4 per cent. Growth in service exports and imports in dollar terms declined to 5.5 per cent and 6.7 per cent respectively in 2018-19, from 18.8 per cent and 22.6 per cent respectively in 2017-18.

Q10. Indian rupee has been depreciated by how much percent vis-a-vis US dollar?
7.8%
7.6%
7.4%
7.3%
7.9%
Solution:
Rupee depreciated by 7.8 per cent vis-à-vis UD dollar, 7.7 per cent against Yen, and 6.8 per cent against Euro and Pound Sterling in 2018-19.

Q11. The foreign exchange reserves in nominal terms (including the valuation effects) decreased by US$ ________________ billion end-March 2019 over end-March 2018.
12.3 billion
10.7 billion
11.6 billion
15.2 billion
18.1 billion
Solution:
The foreign exchange reserves in nominal terms (including the valuation effects) decreased by US$ 11.6 billion end-March 2019 over end-March 2018.

Q12. Net Foreign Direct Investment (FDI) inflows grew by _____________ percent in 2018-19.
14.7%
14.1%
14.6%
14.4%
14.2%
Solution:
Net Foreign Direct Investment (FDI) inflows grew by 14.2 per cent in 2018-19.

Q13. Indian banking sector has been dealing with twin balance sheet problem, which refers to stressed, corporate and bank balance sheets. The increase in NPA of banks led to stress on balance sheets of banks, with the Public Sector Banks (PSBs) taking in more stress. What is the full form of NPA?
Non-Performing Assets
No-Performing Assets
National-Performing Assets
Nominal-Performing Assets
New-Performing Assets
Solution:
Indian banking sector has been dealing with twin balance sheet problem, which refers to stressed, corporate and bank balance sheets. The increase in Non-Performing Assets (NPA) of banks led to stress on balance sheets of banks, with the Public Sector Banks (PSBs) taking in more stress.

Q14. The decline in investment rate and fixed investment rate since 2011-12, seems to have bottomed out with some early signs of recovery since 2017-18. Fixed investment growth picked up from 8.3 percent in 2016-17 to _____________ percent in 2017-18 and further to 10.0 percent in 2018-19.
12.60%
07.50%
10.20%
09.30%
15.10%
Solution:
Decline in investment rate and fixed investment rate since 2011-12, seems to have bottomed out with some early signs of recovery since 2017-18. Fixed investment growth picked up from 8.3 per cent in 2016-17 to 9.3 per cent in 2017-18 and further to 10.0 per cent in 2018-19. The decline in fixed investment until 2016-17 was mainly by the household sector, with fixed investment by public sector and private corporate sector remaining almost at same levels.

Q15. GVA has reflected a decline in economic activity, registering a growth of 6.6 percent in 2018-19, lower than 6.9 percent in 2017-18. What is the meaning of "A" in GVA?
Agency
Added
Assets
Account
Amount
Solution:
Gross Value Added (GVA) reflected a decline in economic activity, registering a growth of 6.6 percent in 2018-19, lower than 6.9 percent in 2017-18. Growth of net indirect taxes was 8.8 percent in 2018-19, lower than that of 2017-18 on account of loss of momentum of economic activity.

Q16. Service exports has become one of the mainstay of India’s total exports increasing manifold, from Rs. 0.746 lakh crore in 2000-01 to Rs. 14.389 lakh crore in 2018-19, raising its share in total exports from 26.80 percent to-?
37.50%
35.70%
36.20%
38.40%
34.80%
Solution:
Service sector is the most dynamic sector in the economy and has remained the key driver of economic growth along with being a major contributor to GVA and export basket of the Indian Economy. Service exports has become one of the mainstay of India’s total exports increasing manifold, from Rs. 0.746 lakh crore in 2000-01 to Rs. 14.389 lakh crore in 2018-19, raising its share in total exports from 26.8 per cent to 38.4 per cent. Share of India in world service exports has also increased from 2 per cent in 2005 to 3.5 per cent in 2017. This share is much higher than that of manufacturing exports which stands at 1.8 per cent in 2017.

Q17. Real growth in ‘Agriculture & allied’ sector was lower in 2018-19 at _______________ percent, after two years of good agriculture growth.
2.9%
2.7%
2.5%
2.3%
2.1%
Solution:
Real growth in ‘Agriculture & allied’ sector was lower in 2018-19 at 2.9 percent, after two years of good agriculture growth. As per the 3rd Advance Estimates released by Ministry of Agriculture & Farmers Welfare, the total production of foodgrains during 2018-19 is estimated at 283.4 million tones in 2017-18 (final estimate). There was a significant decline in food prices in 2018-19 as indicated by nearly zero per cent consumer food price inflation in 2018-19 with price contraction straight for five months in the year.

Q18. The ‘Financial, real estate and professional services’ sector grew at 7.4 percent in 2018-19, higher as compared to 6.2 percent in 2017-18. This sector amounts for more than _________________ percent of overall GVA of the economy.
10%
30%
25%
15%
20%
Solution:
The ‘Financial, real estate and professional services’ sector grew at 7.4 percent in 2018-19, higher as compared to 6.2 percent in 2017-18. This sector amounts for more than 20 percent of overall GVA of the economy.

Q19. The Economic Survey 2019 has proposed a change in the Beti Bachao Beti Padhao (BBBP) scheme. The campaign, to be labelled ___________________ will be used to represent the change towards gender equality.
BAHAAR
BETIYA
BADLAV
BANDHAN
BANDHU
Solution:
The Economic Survey 2019 has proposed a change in the Beti Bachao Beti Padhao (BBBP) scheme. The campaign, to be labelled BADLAV (Beti Aapki Dhan Lakshmi Aur Vijay Lakshmi), will be used to represent the change towards gender equality. BBBP is a government scheme launched to end female foeticide, infanticide and help promote the education of the girl child. It was launched in 2015.

Q20. In which of the following sector, the growth has picked up in 2018-19, although the momentum slowed down towards the end of the financial year with a growth of 3.1 percent in fourth quarter of the year, as compared to 12.1 percent, 6.9 percent and 6.4 percent in first, second and third quarter respectively.
IT
Manufacturing
Service
Agriculture
Automobiles
Solution:
The growth in manufacturing sector picked up in 2018-19, although the momentum slowed down towards the end of the financial year with a growth of 3.1 percent in fourth quarter of the year, as compared to 12.1 per cent, 6.9 percent and 6.4 percent in first, second and third quarter respectively. The growth rate in Q4 of 2018-19 moderated considerably, on account of lower NBFC lending, which in part led to sales in the auto sector.

               




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