Quiz Based on Economic Survey 2020-21

Quiz Based on Economic Survey 2020-21

Total No of Questions: 20

  1. The economic survey is prepared by a team led by the Chief Economic Adviser (CEA) of the Finance Ministry. Who is the current CEA for the Economic Survey 2020-21?
    A) Arvind Subramanian
    B) Krishnamurthy V. Subramanian
    C) Subhash Chandra Garg
    D) Sanjeev Sanyal
    View answer
    Option B
    Explanation:
    The economic survey is prepared under the guidance of the Chief Economic Adviser of the Finance Ministry. The present Chief Economic Adviser is Krishnamurthy V. Subramanian.
  2. What is the theme of the Economic Survey 2020-21?
    A) #SavingLives&Livelihoods  #VshapedRecovery
    B) #Innovation #VshapedRecovery
    C) #Short-termPain #Long-termGain #VshapedRecovery
    D) #VshapedRecovery #Sustainability
    View answer
    Option A
    Explanation:
    Theme of the Economic Survey 2020-21 – #SavingLives&Livelihoods  #VshapedRecovery
  3. Based on the Economic Survey 2020-21 data, the NSO has projected GDP of India for FY21 at what percent?
    A) (-)7.3%
    B) (-)7.5%
    C) (-)7.1%
    D) (-)7.7%
    View answer
    Option D
    Explanation:
    As per the advance estimates by NSO, India’s GDP is estimated to grow by (-) 7.7% in FY21 – a robust sequential growth of 23.9% in H2: FY21 over H1: FY21
  4. The Economic Survey 2020-21 has stated that the real GDP of India will grow by _______ percent in FY 2021-22
    A) 9%
    B) 10%
    C) 11%
    D) 12%
    View answer
    Option C
    Explanation:
    India’s real GDP to record a 11.0% growth in FY2021-22 – the highest since independence.
  5. The nominal GDP of India is projected to grow by what percent in FY22 as per Economic Survey 2020-21?
    A) 13.1%
    B) 15.4%
    C) 11.6%
    D) 10.5%
    View answer
    Option B
    Explanation:
    The nominal GDP to grow by 15.4%
  6. What is the current Sovereign rating of India as per the Moody’s?
    A) Baa2
    B) Baa4
    C) Baa1
    D) Baa3
    View answer
    Option D
    Explanation:
    Moody’s has assigned a sovereign rating of Baa3 to India, the lowest investment grade rating
  7. The sovereign rating assigned by S&P to India is ___________
    A) BBB(-)
    B) BB (-)
    C) C (-)
    D) CCC(-)
    View answer
    Option A
    Explanation:
     S&P has assigned a BBB(-) rating to India, the lowest investment grade rating awarded by the agency.
  8. What is the rank of India in the Global Innovation Index 2020?
    A) 36
    B) 61
    C) 52
    D) 48
    View answer
    Option D
    Explanation:
    India ranked 48th in Global Innovation Index 2020, ranking first in Central and South Asia, and third amongst lower middle-income group economies.
  9. The central-sector scheme Pradhan Mantri Jan Arogya Yojana (PM-JAY) was launched in which year?
    A) 2014
    B) 2018
    C) 2016
    D) 2019
    View answer
    Option B
    Explanation:
    Pradhan Mantri Jan Arogya Yojana (PM-JAY) – the ambitious program launched by Government of India in 2018 to provide healthcare access to the most vulnerable sections demonstrates strong positive effects on healthcare outcomes in a short time. 
  10. Economic Survey 2020-21 data shows that the forex reserves of India stood at an all-time high of ______as on January 08, 2021
    A) USD 586.1 billion
    B) USD 572.1 billion
    C) USD 569.1 billion
    D) USD 555.1 billion
    View answer
    Option A
    Explanation:
    India’s forex reserves at an all-time high of US$ 586.1 billion as on January 08, 2021, covering about 18 months worth of imports.
  11. What is the projected Current Account Surplus for the current fiscal FY21 as estimated in the economic survey report?
    A) 3% of GDP
    B) 2% of GDP
    C) 1% of GDP
    D) 4% of GDP
    View answer
    Option B
    Explanation: India to Have a Current Account Surplus of 2 Per Cent of GDP in FY21.
  12. The economic survey data shows that India will witness a current account surplus during the current financial year (FY21) after a gap of ________years
    A) 11
    B) 15
    C) 21
    D) 17
    View answer
    Option D
    Explanation: India is expected to witness a current account surplus during the current financial year after a gap of 17 years
  13. The monetary policy of India has continued to be accommodative during 2020 as per the ES2020-21. The data shows that the RBI has cut the Repo Rate by _______ bps during the period beginning from March 2020?
    A) 105 bps
    B) 120 bps
    C) 115 bps
    D) 125 bps
    View answer
    Option C
    Explanation:
    Accommodative monetary policy during 2020: repo rate cut by 115 bps since March 2020.
  14. The ‘World Solar Bank’ and ‘One Sun One World One Grid Initiative’ has initiative has been launched by which organisation, to bring about solar energy revolution globally?
    A) International Renewable Energy Agency (IRENA)
    B) International Solar Alliance (ISA)
    C) International Energy Agency (IEA)
    D) International Atomic Energy Agency (IAEA)
    View answer
    Option B
    Explanation:
    International Solar Alliance (ISA) launched two new initiatives – ‘World Solar Bank’ and ‘One Sun One World One Grid Initiative’ – poised to bring about solar energy revolution globally
  15. The Gross Value Added (GVA) growth of India is pegged at what percent in 2020-21?
    A) -6.5%
    B) -8.1%
    C) -7.2%
    D) -7.7%
    View answer
    Option C
    Explanation:
    Gross Value Added (GVA) growth is pegged at -7.2 per cent in 2020-21 as against 3.9 per cent in 2019-20.
  16. As per the Index of Industrial Production data, the economic activity of India is estimated to show ________ recovery post the adversities of COVID-19 induced lockdowns 
    A) V-shaped
    B) L-shaped
    C) U-shaped
    D) I-shaped
    View answer
    Option A
    Explanation:
    A strong V-shaped recovery of economic activity further confirmed by IIP data.
  17. What is the rank of India in the Ease of Doing Business (EoDB) Index 2019?
    A) 75
    B) 63
    C) 49
    D) 54
    View answer
    Option B
    Explanation:
    India’s rank in the Ease of Doing Business (EoDB) Index for 2019 has moved upwards to the 63rd position in 2020 from 77th in 2018 as per the Doing Business Report (DBR).
  18. Centre has announced a PLI Scheme in the 10 key sectors under the aegis of AatmaNirbhar Bharat for enhancing manufacturing capabilities and exports of India. Expand PLI.
    A) Performance-Linked Interest
    B) Purchase-Linked Impetus
    C) Personal-Linked Income
    D) Production-Linked Incentive
    View answer
    Option D
    Explanation:
    Government has announced a Production-Linked Incentive (PLI) Scheme in the 10 key sectors under the aegis of AatmaNirbhar Bharat for enhancing India’s manufacturing capabilities and exports.
  19. The 2020-21 Economic survey data shows that the life expectancy at birth has improved in 2019, at _______, as compared to a year before. 
    A) 69.7 years
    B) 65.8 years
    C) 68.2 years
    D) 70.5 years
    View answer
    Option A
    Explanation:
    Life expectancy at birth improved from 69.4 years in 2018 to 69.7 years in 2019.
  20. The World’s largest COVID-19 vaccination drive commenced in India on 16th January, 2021 using indigenously manufactured Covishield and Covaxin. While Covishield is manufactured by Serum Institute, Covaxin has been manufactured by which company?
    A) Serum Institute of India, Pune
    B) Bharat Biotech International Ltd, Hyderabad
    C) Cadila Healthcare Limited, Ahmedabad
    D) Indian Immunologicals Limited, Hyderabad
    View answer
    Option B
    Explanation:
    World’s largest COVID-19 vaccination drive commenced on 16th January, 2021 using two indigenously manufactured vaccines- Covishield (by Serum Institute of India, Pune) and Covaxin (Bharat Biotech International Ltd, Hyderabad).

Economic Survey 2020-21 – Highlights

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