Indian Economy Current Affairs 2018

  1. How much amount has been spent by Government on GST advertisements?
    A. Rs.110 crores
    B. Rs.117 crores
    C. Rs.125 crores
    D. Rs.132 crores
  2. D. Rs.132 crores
    The expenditure on advertisements through print media stood at nearly Rs 127 crore while more than Rs 5 crore was spent on advertisements with outdoor media. There was 'nil' expenditure for the same on electronic media. The Goods and Services Tax (GST) was implemented on July 1, 2017. The government had also roped in Bollywood megastar Amitabh Bachchan as brand ambassador to promote GST and inform people about its benefits.
  3. According to Reserve Bank of India (RBI)'s annual data, which country has topped the India's FDI chart in FY18?
    A. Germany
    B. Mauritius
    C. Netherlands
    D. Singapore
  4. B. Mauritius
    According to Reserve Bank of India (RBI)'s annual data, Mauritius accounted for the largest source of Foreign Direct Investment (FDI) into India in the financial year FY18 followed by Singapore. The data shows that the total India's FDI stood at $37.36 billion in the FY18, which is a marginal rise over the $36.31 billion recorded in the previous fiscal FY17. The provisional data for the financial year ended March revealed that FDI into the manufacturing sector witnessed a substantial decline to $7.06 billion, as against $11.97 billion in the year-ago period. However, FDI into communication services rose to $8.8 billion in 2017-18 as compared to $5.8 billion.
  5. Indian economy grew by __________ in the first quarter (April-June) of the current fiscal year 2018.
    A. 7.0%
    B. 7.4%
    C. 7.8%
    D. 8.2%
  6. D. 8.2%
    Indian economy grew by 8.2% in the first quarter (April-June) of the current fiscal 2018, the highest in over two years. This announcement was made by Finance Minister, Arun Jaitley. The manufacturing sector grew by 13.5% which signals very good turnaround in the sector. In a related development Reserve Bank of India stated Non-food credit growth in the system accelerated to 10.6% for July as compared to previous year, driven by loans to the services sector growing at the faster clip. Credit to the services sector grew 23% for the reporting period, up from the year-ago period's 4.9%.

  7. How much did the Cabinet approve to set up more disaster warning systems in Indian coasts?
    A. Rs.1,253 crores
    B. Rs.1,473 crores
    C. Rs.1,543 crores
    D. Rs.1,623 crores
  8. D. Rs.1,623 crores
    The Cabinet Committee on Economic Affairs cleared at an outlay of Rs.1,623 crores to get more disaster warning systems and desalination plants along Indian coasts. The system will be functioning under the programme called O-SMART (Ocean Services, Technology, Observations, Resources Modelling and Science). O-SMART is monitored by the Union earth sciences ministry. O-SMART provides economic benefits to a number of user communities in the coastal and ocean sectors, namely, fisheries, offshore industry, coastal States, defence, shipping, ports, etc.
  9. With which country India signed the Second Protocol amending the Comprehensive Economic Cooperation Agreement in New Delhi?
    A. Canada
    B. Malaysia
    C. Singapore
    D. United States
  10. C. Singapore
    India and Singapore have signed the Second Protocol amending the Comprehensive Economic Cooperation Agreement in New Delhi which will boost bilateral trade between the two countries. The Protocol was signed in New Delhi by Rajneesh, Joint Secretary, Ministry of Commerce and Industry and Francis Chong, Senior Director, Ministry of Trade and Industry, Government of Singapore.
  11. As per Ficci's survey 'Ficci's Economic Outlook Survey', the Indian economy is expected to grow at __________ in the current fiscal.
    A. 7.3%
    B. 7.4%
    C. 7.5%
    D. 7.6%
  12. B. 7.4%
    As per Ficci's survey 'Ficci's Economic Outlook Survey', the Indian economy is expected to grow at 7.4 per cent in the current fiscal. It projects that GDP will grow at 7.4 per cent for 2018-19, with a minimum and maximum range of 7.1 per cent and 7.5 per cent, respectively. The economic activity on the first quarter of the current fiscal would be 7.1 per cent. The study further said the median growth forecast for agriculture and allied activities has been put at 3 per cent for 2018-19.
  13. According to a Morgan Stanley report, the GDP growth of India is:
    A. 7.2%
    B. 7.5%
    C. 7.8%
    D. 8.1%
  14. B. 7.5%
    India's economy is expected to clock GDP growth of 7.5% in this financial year according to a Morgan Stanley report. The growth recovery will remain robust, supported initially by consumption and exports. In the January-March quarter, India's gross domestic product (GDP) grew at the fastest pace in seven quarters at 7.7% on robust performance by manufacturing and service sectors as well as good farm output. India's economy is expected to clock GDP growth of 7.5% in this financial year according to a Morgan Stanley report. The growth recovery will remain robust, supported initially by consumption and exports. In the January-March quarter, India's gross domestic product (GDP) grew at the fastest pace in seven quarters at 7.7% on robust performance by manufacturing and service sectors as well as good farm output.
  15. This country becomes World's 2nd biggest stock market.
    A. China
    B. Germany
    C. Japan
    D. United States
  16. C. Japan
    As a result of China's trade war with the US and its campaign to cut debt, the value of China's stock market fell to $6.09 trillion, losing its position as the World's second biggest stock market to Japan ($6.17 trillion). The U.S. has the world's largest stock market at just over $31 trillion. China's stock market overtook Japan's in 2014 and soared to an all-time high of over $10 trillion in 2015.

  17. As per ADB's Asian Development Outlook report, India is the fastest growing economy in Asia with the GDP of __________.
    A. 7.2%
    B. 7.3%
    C. 7.4%
    D. 7.5%
  18. B. 7.3%
    As per Asian Development Bank (ADB)'s Asian Development Outlook report India continues to be the fastest growing economy in Asia with projected GDP growth of 7.3 per cent. Growth would accelerate to 7.6 percent in 2019. Growth would be driven by increased public spending, higher capacity utilisation rate and uptick in private investment, reform in the banking sector and tax. China will decelerate to 6.6 per cent in 2018 and further to 6.4 per cent in 2019. Globally, South Asia would be the fastest growing sub-region despite trade tensions with US.
  19. Which company becomes India's largest tax payer in private sector?
    A. ICICI Bank
    B. Reliance Industries
    C. Tata Steel
    D. TCS
  20. B. Reliance Industries
    Reliance Industries Chairman Mukesh Ambani at the Reliance Industries' 41st Annual General Meeting announced that Reliance is India's largest payer of Goods and Services Tax (GST), Excise and Customs Duty, and Income Tax in the private sector paying Rs.9844 crore in FY18. Reliance has become the first Indian company to record PBDIT (Profit Before Depreciation Interest and Taxes) of over $10 billion.