India’s Economic growth to Decline to 5.7% in 2022

The Indian economy has fully recovered to the pre-pandemic real GDP level of 2019-20, according to the provisional estimates of GDP released on May 31, 2022. Real GDP growth in FY 2021-22 stands at 8.7%, which is 1.5% higher than the real GDP in FY 2019-20. These figures are associated with stronger growth momentum, indicating increased economic demand. The investment rate in the fourth quarter increased to its highest level in the previous nine quarters. Moreover, capacity utilisation in the manufacturing sector rose in the fourth quarter, as against the third quarter, implying a build-up in demand, which is consistent with the growth objectives of the Indian economy.

Future capital spending of the government in the Indian economy is expected to be supported by factors such as tax buoyancy, streamlined tax system, thorough assessment and rationalisation of the tariff structure and digitisation of tax filing. In the medium term, an increase in capital spending on infrastructure and asset-building projects is set to increase growth multipliers. Furthermore, revival in monsoon and Kharif sowing helped the agriculture sector gain momentum. As of July 11, 2022, the South-West monsoon has covered the entire country, resulting in 7% higher rainfall than the normal level.

India has emerged as the fastest-growing major economy in the world, and is expected to be one of the top three economic powers globally over the next 10-15 years, backed by its robust democracy and strong partnerships.

India’s Economic growth 

Q1.“Bad money (if not limited in quantity) drives good money out of circulation”. Which law in economics says this?

[A] Keynes’ law

[B] Wagner’s law

[C] Gresham’s law

[D] Grimm’s law

Correct Answer: C [Gresham’s law]

Notes: Gresham’s law states that “bad money drives out good”. For example, if there are two forms of commodity money in circulation, which are accepted by law as having similar face value, the more valuable commodity will gradually disappear from circulation.

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• भारतीय कला और संस्कृति | Indian Art and Culture in Hindi
• Indian Art and Culture NCERT in Hindi PDF
• कला और संस्कृति हमें कैसे एकजुट करती है पर निबंध
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• भारतीय कला एवं संस्कृति { Indian art and Culture}

Q2.Many a times we read about “Circuit Breakers” in share markets. They are temporary measures which halt the trading on which of the following occasion?

[A] On special days

[B] When a new share is traded for the first time

[C] When the prices of particular stock’s) rises or falls by a specified amount in specified time

[D] When trading of a particular stock(s) has rises beyond a specified volume

Correct Answer: C [When the prices of particular stock’s) rises or falls by a specified amount in specified time]

Notes: Circuit breakers are pre-defined values in percentage terms, which trigger an automatic check when there is a runaway move in any security or index. It may involve Halting of trade in a security or index for a certain period or Halting of trade in a security or index for the entire trading day.

Q3.Bring out the qualitative control instrument of Reserve Bank of India from the given statements?

[A] RBI increases Reverse Repo rate in the quarterly review of the monetary policy

[B] RBI decreases the CRR rate in the quarterly review of the monetary policy

[C] RBI decreases the Bank rate in the quarterly review of the monetary policy

[D] RBI announces selective credit control in the quarterly review of the monetary policy

Correct Answer: D [RBI announces selective credit control in the quarterly review of the monetary policy]

Q4.A public sector company wishes to bring a Public issue. Which among the following is the first authority to get an approval to be able to do so?

[A] Ministry of Finance

[B] Ministry of Commerce & Industry

[C] Cabinet Committee on Economic Affairs

[D] Reserve bank of India

Correct Answer: C [Cabinet Committee on Economic Affairs]

Q5.Investment in which among the following is the Most Risk Free asset of a Bank as per the RBI guidelines?

[A] Housing Loans

[B] Government Approved Securities

[C] Venture Capital Investments

[D] Loans against Jewellery

Correct Answer: B [Government Approved Securities]

Q6.Consider the following:

1. Assertion: Basin Irrigation is most suitable for paddy crop

2. Reason: Basin method is suitable for crops that are unaffected by standing in water

Which among the above is / are correct statements?

[A] Only 1

[B] Only 2

[C] Both 1 & 2

[D] Neither 1 nor 2

Correct Answer: C [ Both 1 & 2]

Notes: Basin Irrigation is most suitable for paddy crop as standing water is required for paddy. Basin method is suitable for crops that are unaffected by standing in water.

Q7.Consider the following irrigation projects with rivers over which they are executed:

Gosikhurd National Irrigation Project – Krishna

Shahpur Kandi Project – Ravi

Ukai irrigation Project – Tapti

Which of the above is/are correctly matched? 

[A] Only 1 & 2

[B] Only 2 & 3

[C] Only 1 & 3

[D] 1, 2 & 3

Correct Answer: B [Only 2 & 3]

Notes: Gosikhurd Irrigation Project is under execution on river Wainganga in Maharashtra. Shahpur Kandi Project is under execution on Ravi River in Punjab.

• भारतीय कला और संस्कृति 2021 – GK नोट्स का PDF डाउनलोड करें
• भारतीय कला और संस्कृति | Indian Art and Culture in Hindi
• Indian Art and Culture NCERT in Hindi PDF
• कला और संस्कृति हमें कैसे एकजुट करती है पर निबंध
• (Video) भारतीय कला एवं संस्कृति (Indian Art & Culture)
• भारतीय कला एवं संस्कृति { Indian art and Culture}

Q8.Which of the following denotes ‘shares outstanding’ ?

[A] Difference between authorised capital and issued capital of a company

[B] Difference between issued capital and subscribed capital of a company

[C] Difference between subscribed capital and paid up capital of a company

[D] Shares of the company issued and purchased by investors and are held by them

Correct Answer: D [ Shares of the company issued and purchased by investors and are held by them ]

Notes:

D is correct answer.

Q9.Consider the following:

Stamp Duty

Property Tax

Excise Duty

Which among the above is / are “production taxes”?

[A] Only 1 & 2

[B] Only 2 & 3

[C] Only 3

[D] 1, 2 & 3

Correct Answer: A [ Only 1 & 2 ]

Notes:

Kindly understand the difference between Production and Product taxes and subsidies. Production taxes and subsidies are different from product taxes and subsidies. Production taxes are imposed even if the products are not produced, such as stamp duty and property taxes. On the other hand, the excise duty, value added tax etc. are all product taxes. Production subsidy also differs from Product subsidy. Interest subsidy is not a product subsidy but is a production subsidy.

India’s Economic growth 

Q10.The maximum amount of share capital issued by a company, as detailed in the company’s memorandum of association is ___:

[A] Authorized share capital

[B] Nominal share capital

[C] Registered capital

[D] All of the above

Correct Answer: D [ All of the above ]

Notes: Authorized share capital is also known as nominal share capital; nominal capital or registered capital. It is the maximum amount of share capital issued by a company, as detailed in the company’s memorandum of association. Authorized share capital must be disclosed on the face of the balance sheet.

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