Economic Current Affairs: Solved 44 Economic Current Affairs Questions and answers section with explanation for various online exam preparation, various interviews, Logical Reasoning Category online test. Category Questions section with detailed description, explanation will help you to master the topic.

Economic Current Affairs Questions

1. Which of the following organizations has approved second tranche of loan of $150 million for West Bengal to boost capital investment and infrastructure in the state?




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Correct Ans:Asian Development Bank (ADB)
Explanation:
The Asian Development Bank (ADB) has approved the 2nd tranche of USD 150 million for West Bengal to boost capital investment and infrastructure in the state.


2. IFC has anchored an investment of _________ in Mahindra and Mahindra Financial Services to create a dedicated pool of financing for the Ministry of Micro, Small and Medium Enterprises (MSMEs) in low-income states.




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Correct Ans:$200 million
Explanation:
International Finance Corporation (IFC), an arm of World Bank Group, has anchored an investment round of $200 million in Mahindra and Mahindra Financial Services. Among the investment, IFC has invested $75 million from its own account and is mobilizing another $125 million as parallel loans. The investment aims to create a dedicated pool of financing for the Ministry of Micro, Small and Medium Enterprises (MSMEs) in low-income states.


3. As per the National Statistical Office (NSO) survey the literacy rate in the age group of seven years and above was recorded at _______ during July 2017-June 2018 in India.




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Correct Ans:77.70%
Explanation:
On November 24, 2019, as per the National Statistical Office (NSO) survey the literacy rate in the age group of seven years and above was recorded at 77.7% during July 2017-June 2018 in India.


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4. Which of the following company's Mutual Fund has been renamed as Nippon India Mutual Fund (NIMF)?




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Correct Ans:Reliance
Explanation:
Reliance Mutual Fund has been renamed as Nippon India Mutual Fund (NIMF) following a deal with the Anil Ambani group. Nippon Life entered Reliance AMC first by buying a 26 percent stake in 2012 and now owns as much as 75 percent, making it the single largest promoter. Nippon has paid Rs. 6,000 crore for 75 percent stake.


5. What is the latest GDP growth estimate of India by India Ratings and Research for the fiscal 2019-20?




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Correct Ans:6.10%
Explanation:
The latest GDP growth estimate of India by India Ratings and Research for the fiscal 2019-20 is 6.1%.


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6. "South Asia Economic Focus, Fall 2019: Making (De) centralization Work", has been released by which of the following organizations?




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Correct Ans:World Bank
Explanation:
World Bank (WB) in its report, "South Asia Economic Focus, Fall 2019 : Making (De)centralization Work", has lowered India's growth forecast to 6% for 2019 for the second consecutive year ,after a wide decline in the initial quarters.


7. How much amount does India plans to spend on its infrastructure in the next 5 years to achieve the goal of USD 5 trillion economy by 2024?




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Correct Ans:USD 1.4 trillion
Explanation:
India plans to spend USD 1.4 trillion on its infrastructure in the next five years, as part of its goal to become a USD 5 trillion economy by 2024.


8. The UN Conference on Trade and Development (UNCTAD) has released its Trade and Development Report 2019 in which it projected India's growth rate for the current year to slowdown at _____ from last year's 7.4 percent.




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Correct Ans:6.00%
Explanation:
The UN trade agency has projected India's growth rate for the current year to slowdown at 6 per cent from last year's 7.4 per cent, but the country will be the world's second fastest growing economy, lagging by just a tiny fraction behind China.

The Trade and Development Report 2019 released by the UN Conference on Trade and Development (UNCTAD) in Geneva.

It maps a global slowdown with the world growth rate dropping from 3 per cent in 2018 to a projected 2.3 for this year.

China with a 6.1 per cent growth rate for 2019 reclaims the title of the world's fastest growing economy by being ahead of India by just 0.1 per cent.


9. According to the 2019 World Economic Outlook report, India's GDP growth rate for the fiscal year 2020-21 has been lowered to?




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Correct Ans:7.00%
Explanation:
According to the 2019 World Economic Outlook report, India’s GDP growth rate has been lowered to 7% for the fiscal year 2020-21.


10. The Central government has increased the Dearness Allowance (DA) of Central government employees and pensioners. The government has hiked DA by-?




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Correct Ans:5%
Explanation:
The Central government has increased the Dearness Allowance (DA) of Central government employees and pensioners. The government has hiked DA by 5%, which means the dearness allowance has been increased from 12% to 17%. The decision was approved in a cabinet meet chaired by Prime Minister Narendra Modi. The hike would be effective from July 2019. The cost to the exchequer will be Rs 16,000 crore.


11. According to the 2019 World Economic Outlook report, the world economy is expected to grow by _____________ in financial year 2019-20.




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Correct Ans:3.00%
Explanation:
According to the 2019 World Economic Outlook report, the world economy is expected to grow by 3% in financial year 2019-20.


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12. According to IMF, Which of the following is India's Projected Growth in 2019?




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Correct Ans:7.40%
Explanation:
According to IMF, India's Projected Growth is at 7.3% in 2018 and 7.4% in 2019.


13. 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.




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Correct Ans:BADLAV
Explanation:
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.


14. As per CRISIL, What is the Gross Domestic Product(GDP) growth of India for the FY20(Fiscal Year 2020)?




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Correct Ans:6.30%
Explanation:
Indian credit rating agency CRISIL (formerly Credit Rating Information Services of India Limited) has reduced the India's GDP (Gross Domestic Product) growth to 6.3% for FY20 (Fiscal Year 2020) from its previous estimate of 6.9%. The lower GDP growth forecast states about the India's deep economic slowdown and is broad-based than suspected.


15. Recently, which of the following scheme has launched by Union Ministry of Skill Development and Entrepreneurship




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Correct Ans:Pradhan Mantri Yuva Yojana
Explanation:


16. Who became the the first Indian-American woman to be elected to the U.S. House of Representative




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Correct Ans:Pramila Jayapal
Explanation:


17. Who became the first India-American to win the U.S. Senate seat from the state.




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Correct Ans:Kamala Harris
Explanation:


18. Who has been appointed as the interim Chairman of TCS




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Correct Ans:Ishaat Hussain
Explanation:


19. What is the maximum cash amount that a person can deposit in his/her bank accounts within the threshold period of 50-days.




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Correct Ans:2.5 lakh rupees
Explanation:


20. Global Rajasthan Agritech Meet (GRAM) 2016 was held in which city




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Correct Ans:Jaipur
Explanation:





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