Indian Economic Performance FY24
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Questions and Answers

Who provided able administrative support for the Economic Survey preparation?

  • Manoj Sahay (correct)
  • Anshuman Kamila
  • Renuka Mishra
  • Chitvan Dhillon

    • Which of the following entities was NOT mentioned as providing expertise for the Economic Survey?

  • SEBI
  • RBI
  • IRDAI
  • NABARD (correct)

    • What role did Izzur Rahman have in the preparation of the Economic Survey?

  • Translation
  • Survey content writing
  • Page setting
  • Cover page design (correct)

    • Who typed the Hindi version of the survey?

    <p>Himanshu Sharma</p> Signup and view all the answers

    Which individual was involved in the Hindi translation of the survey?

    <p>Lt.Col.M.K.Singh</p> Signup and view all the answers

    Who is noted for their contribution to the page setting of both English and Hindi versions?

    <p>Mohammad Suhail</p> Signup and view all the answers

    Which of the following provided contributions specifically related to Hindi?

    <p>Samta Rani</p> Signup and view all the answers

    What common role did many mentioned individuals have in the economic survey's preparation?

    <p>Translation</p> Signup and view all the answers

    Which of the following represents a technological challenge in the energy transition?

    <p>Intermittency of power generation</p> Signup and view all the answers

    What is a potential fiscal implication of transitioning to renewable energy?

    <p>Loss of tax revenue from fossil fuels</p> Signup and view all the answers

    What was the estimated growth rate of the Indian economy in FY24?

    <p>8.2%</p> Signup and view all the answers

    What challenge is associated with land use in a land-scarce country?

    <p>Recognition of opportunity cost</p> Signup and view all the answers

    What does a surplus in the current account indicate for the Indian economy?

    <p>Higher exports than imports</p> Signup and view all the answers

    Which issue does not directly relate to the concept of 'stranded assets'?

    <p>Increased profitability from fossil fuel sales</p> Signup and view all the answers

    What aspect of mobility solutions is emphasized for examination?

    <p>Public transportation models</p> Signup and view all the answers

    Which sector is expected to sustain investment momentum in the Indian economy?

    <p>Private sector</p> Signup and view all the answers

    Which of the following is identified as a success in democratic India over the years?

    <p>A significant decrease in abject poverty</p> Signup and view all the answers

    During which financial year did investment in machinery and equipment decline for two consecutive years?

    <p>FY20 and FY21</p> Signup and view all the answers

    Which of the following factors contributed to the economic stability in India post-Covid?

    <p>Public investment</p> Signup and view all the answers

    What is the main concern regarding emulating policy practices from other nations?

    <p>Problems may persist from previous approaches</p> Signup and view all the answers

    What does letting go refer to in the context of governance?

    <p>Releasing unnecessary government regulations</p> Signup and view all the answers

    What is the current account deficit of India for FY24 approximately as a percentage of GDP?

    <p>0.7%</p> Signup and view all the answers

    What significant political event occurred in June regarding the Indian government?

    <p>Return of the National Democratic Alliance government</p> Signup and view all the answers

    What was a notable economic indicator that showed resilience in the Indian economy's recovery?

    <p>Stable inflation rate</p> Signup and view all the answers

    What should the banking industry aim to do regarding NPA cycles?

    <p>Lengthen the gap between NPA cycles</p> Signup and view all the answers

    Which practice is considered necessary for increasing insurance penetration?

    <p>Prompt and reasonable settlement of insurance claims</p> Signup and view all the answers

    What negative effect does short-termism have according to the content?

    <p>It can weaken linkages necessary for investments</p> Signup and view all the answers

    What lifestyle factors are mentioned as detrimental to India’s economic potential?

    <p>Social media use and unhealthy food consumption</p> Signup and view all the answers

    How should Indian businesses approach traditional lifestyles and food according to the content?

    <p>By embracing them for sustainability and market advantage</p> Signup and view all the answers

    What impact does the private sector have on public health in India as mentioned in the content?

    <p>They contribute to unhealthy habits and myopia</p> Signup and view all the answers

    What role do policymakers have in addressing the challenges discussed in the content?

    <p>To rise to the challenges presented</p> Signup and view all the answers

    What is essential for India's working-age population according to the content?

    <p>Good health and appropriate skills</p> Signup and view all the answers

    What is the focus of Chart IV.3?

    <p>India's share in global goods and services exports</p> Signup and view all the answers

    Which chart examines the trends in India's exports and imports of toys?

    <p>Chart IV.7</p> Signup and view all the answers

    Which chart indicates the rising share of Global Value Chain (GVC)-related trade?

    <p>Chart IV.15</p> Signup and view all the answers

    What does Chart IV.22 showcase?

    <p>India's remittance inflows</p> Signup and view all the answers

    Which factor is associated with higher remittances in Chart IV.25?

    <p>Crude oil prices</p> Signup and view all the answers

    Which chart illustrates the performance of India's services trade in the last decade?

    <p>Chart IV.13</p> Signup and view all the answers

    What trend does Chart IV.26a analyze?

    <p>Net foreign portfolio investment inflows into India</p> Signup and view all the answers

    Which chart captures the adequacy of India's forex reserves from a comparative perspective?

    <p>Chart IV.32</p> Signup and view all the answers

    What does Chart IV.20 indicate about India's current account deficit?

    <p>It improved during FY24</p> Signup and view all the answers

    Which chart signifies the change in the rupee/USD exchange rate volatility?

    <p>Chart IV.33</p> Signup and view all the answers

    What does R&D stand for in the context of research-related activities?

    <p>Research and Development</p> Signup and view all the answers

    Which of the following is associated with sustainable development and environmental initiatives?

    <p>SBM-G</p> Signup and view all the answers

    Which acronym refers to a framework concerning capital requirements in financial institutions?

    <p>RBCF</p> Signup and view all the answers

    What does SHG stand for, which plays a vital role in community development?

    <p>Self Help Group</p> Signup and view all the answers

    Which initiative is focused on improving health and wellness at the urban level?

    <p>UPHC</p> Signup and view all the answers

    What does the acronym REITs represent in the context of real estate?

    <p>Real Estate Investment Trusts</p> Signup and view all the answers

    Which term refers to the state of an economy based on its overall income levels and expenditures?

    <p>REER</p> Signup and view all the answers

    Which of the following refers to a legislative framework for regulating the real estate sector?

    <p>RERA</p> Signup and view all the answers

    What does the acronym RFID stand for in technology?

    <p>Radio Frequency Identification</p> Signup and view all the answers

    Which of the following relates to transportation and improving connectivity in rural regions?

    <p>UDAN</p> Signup and view all the answers

    Which program focuses on the use of agri-residue in thermal power plants?

    <p>SAMARTH</p> Signup and view all the answers

    What does the acronym SDF represent concerning financial institutions?

    <p>Standing Deposit Facility</p> Signup and view all the answers

    Which scheme is linked to promoting the use of small modular reactors?

    <p>SMR</p> Signup and view all the answers

    Which of the following is an initiative aimed at enhancing employment and skills?

    <p>SVEP</p> Signup and view all the answers

    Study Notes

    Indian Economic Performance

    • Indian economy grew 8.2% in real terms in FY24.
    • Prime Minister Narendra Modi's government was re-elected for a third term, signifying political continuity.
    • The economy consolidated its post-COVID recovery, demonstrating resilience against geopolitical challenges.
    • Inflation rate is mostly under control, though some specific food items have elevated inflation.
    • Trade deficit was lower in FY24 compared to FY23, and the current account deficit was around 0.7% of GDP, registering a surplus in the last quarter.
    • Foreign exchange reserves are substantial.
    • Public investment sustained capital formation, while the private sector increased investment following a decline in FY21.
    • Non-financial private-sector capital formation expanded significantly in FY22 and FY23.
    • Investment in machinery and equipment rebounded after two consecutive years of decline (FY20 and FY21).
    • The banking sector needs to decrease the timeframe between NPAs and avoid short-term profits at the cost of customers. Mis-selling is prevalent in several financial services segments. Reasonable claim settlements and reduced rejection rates in the insurance sector are needed to boost market penetration.
    • Higher demand due to employment and income growth benefits corporates.

    Challenges and Opportunities

    • Maintaining growth amidst global trade, investment and climate agreement challenges.
    • Domestic strategies are important for growth sustainability.
    • Ensuring a skilled and healthy working-age population is necessary for gainful employment.
    • Unhealthy food consumption habits are causing environmental and public health concerns. Indian traditional lifestyles offer sustainable alternatives. Businesses need to embrace them.
    • Energy transition and mobility issues require addressing resource dependence on hostile nations, intermittency of renewable energy generation, grid stability, land use considerations, fiscal implications (subsidies and revenue losses), and exploring alternative mobility solutions. Emulating other countries' policies may not be feasible or desirable.
    • The country has made notable progress in economic growth, poverty reduction, and human development.

    Conclusion

    • Economic transformation in democratic India is a success story, despite flaws.
    • Increased global uncertainty requires stronger governance. The government should focus on core strengths while releasing control in less crucial areas.

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    Economic Survey 2023-24 PDF

    Description

    Explore the key highlights of India's economic performance in FY24, including growth rates, inflation trends, and trade balances. This quiz covers significant developments such as the political landscape under Prime Minister Modi and the rebound in private sector investments post-COVID. Test your knowledge on the resilience of the Indian economy amid various challenges.

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