Podcast
Questions and Answers
Who provided able administrative support for the Economic Survey preparation?
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?
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?
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?
Who typed the Hindi version of the survey?
Which individual was involved in the Hindi translation of the survey?
Which individual was involved in the Hindi translation of the survey?
Who is noted for their contribution to the page setting of both English and Hindi versions?
Who is noted for their contribution to the page setting of both English and Hindi versions?
Which of the following provided contributions specifically related to Hindi?
Which of the following provided contributions specifically related to Hindi?
What common role did many mentioned individuals have in the economic survey's preparation?
What common role did many mentioned individuals have in the economic survey's preparation?
Which of the following represents a technological challenge in the energy transition?
Which of the following represents a technological challenge in the energy transition?
What is a potential fiscal implication of transitioning to renewable energy?
What is a potential fiscal implication of transitioning to renewable energy?
What was the estimated growth rate of the Indian economy in FY24?
What was the estimated growth rate of the Indian economy in FY24?
What challenge is associated with land use in a land-scarce country?
What challenge is associated with land use in a land-scarce country?
What does a surplus in the current account indicate for the Indian economy?
What does a surplus in the current account indicate for the Indian economy?
Which issue does not directly relate to the concept of 'stranded assets'?
Which issue does not directly relate to the concept of 'stranded assets'?
What aspect of mobility solutions is emphasized for examination?
What aspect of mobility solutions is emphasized for examination?
Which sector is expected to sustain investment momentum in the Indian economy?
Which sector is expected to sustain investment momentum in the Indian economy?
Which of the following is identified as a success in democratic India over the years?
Which of the following is identified as a success in democratic India over the years?
During which financial year did investment in machinery and equipment decline for two consecutive years?
During which financial year did investment in machinery and equipment decline for two consecutive years?
Which of the following factors contributed to the economic stability in India post-Covid?
Which of the following factors contributed to the economic stability in India post-Covid?
What is the main concern regarding emulating policy practices from other nations?
What is the main concern regarding emulating policy practices from other nations?
What does letting go refer to in the context of governance?
What does letting go refer to in the context of governance?
What is the current account deficit of India for FY24 approximately as a percentage of GDP?
What is the current account deficit of India for FY24 approximately as a percentage of GDP?
What significant political event occurred in June regarding the Indian government?
What significant political event occurred in June regarding the Indian government?
What was a notable economic indicator that showed resilience in the Indian economy's recovery?
What was a notable economic indicator that showed resilience in the Indian economy's recovery?
What should the banking industry aim to do regarding NPA cycles?
What should the banking industry aim to do regarding NPA cycles?
Which practice is considered necessary for increasing insurance penetration?
Which practice is considered necessary for increasing insurance penetration?
What negative effect does short-termism have according to the content?
What negative effect does short-termism have according to the content?
What lifestyle factors are mentioned as detrimental to India’s economic potential?
What lifestyle factors are mentioned as detrimental to India’s economic potential?
How should Indian businesses approach traditional lifestyles and food according to the content?
How should Indian businesses approach traditional lifestyles and food according to the content?
What impact does the private sector have on public health in India as mentioned in the content?
What impact does the private sector have on public health in India as mentioned in the content?
What role do policymakers have in addressing the challenges discussed in the content?
What role do policymakers have in addressing the challenges discussed in the content?
What is essential for India's working-age population according to the content?
What is essential for India's working-age population according to the content?
What is the focus of Chart IV.3?
What is the focus of Chart IV.3?
Which chart examines the trends in India's exports and imports of toys?
Which chart examines the trends in India's exports and imports of toys?
Which chart indicates the rising share of Global Value Chain (GVC)-related trade?
Which chart indicates the rising share of Global Value Chain (GVC)-related trade?
What does Chart IV.22 showcase?
What does Chart IV.22 showcase?
Which factor is associated with higher remittances in Chart IV.25?
Which factor is associated with higher remittances in Chart IV.25?
Which chart illustrates the performance of India's services trade in the last decade?
Which chart illustrates the performance of India's services trade in the last decade?
What trend does Chart IV.26a analyze?
What trend does Chart IV.26a analyze?
Which chart captures the adequacy of India's forex reserves from a comparative perspective?
Which chart captures the adequacy of India's forex reserves from a comparative perspective?
What does Chart IV.20 indicate about India's current account deficit?
What does Chart IV.20 indicate about India's current account deficit?
Which chart signifies the change in the rupee/USD exchange rate volatility?
Which chart signifies the change in the rupee/USD exchange rate volatility?
What does R&D stand for in the context of research-related activities?
What does R&D stand for in the context of research-related activities?
Which of the following is associated with sustainable development and environmental initiatives?
Which of the following is associated with sustainable development and environmental initiatives?
Which acronym refers to a framework concerning capital requirements in financial institutions?
Which acronym refers to a framework concerning capital requirements in financial institutions?
What does SHG stand for, which plays a vital role in community development?
What does SHG stand for, which plays a vital role in community development?
Which initiative is focused on improving health and wellness at the urban level?
Which initiative is focused on improving health and wellness at the urban level?
What does the acronym REITs represent in the context of real estate?
What does the acronym REITs represent in the context of real estate?
Which term refers to the state of an economy based on its overall income levels and expenditures?
Which term refers to the state of an economy based on its overall income levels and expenditures?
Which of the following refers to a legislative framework for regulating the real estate sector?
Which of the following refers to a legislative framework for regulating the real estate sector?
What does the acronym RFID stand for in technology?
What does the acronym RFID stand for in technology?
Which of the following relates to transportation and improving connectivity in rural regions?
Which of the following relates to transportation and improving connectivity in rural regions?
Which program focuses on the use of agri-residue in thermal power plants?
Which program focuses on the use of agri-residue in thermal power plants?
What does the acronym SDF represent concerning financial institutions?
What does the acronym SDF represent concerning financial institutions?
Which scheme is linked to promoting the use of small modular reactors?
Which scheme is linked to promoting the use of small modular reactors?
Which of the following is an initiative aimed at enhancing employment and skills?
Which of the following is an initiative aimed at enhancing employment and skills?
Flashcards
Economic Growth
Economic Growth
The rate at which the value of goods and services produced in a country increases over time.
Fiscal Deficit
Fiscal Deficit
A situation where the government spends more money than it collects in revenue.
Trade Deficit
Trade Deficit
The difference between a country's exports and imports of goods and services.
Current Account Deficit
Current Account Deficit
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Foreign Exchange Reserves
Foreign Exchange Reserves
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Public Investment
Public Investment
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Private Sector Investment
Private Sector Investment
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Investment in Machinery and Equipment
Investment in Machinery and Equipment
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Short-termism
Short-termism
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Financial Sector Linkages
Financial Sector Linkages
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Product Mis-selling
Product Mis-selling
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Acknowledgement and Compensation
Acknowledgement and Compensation
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NPA Cycles
NPA Cycles
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Lengthening NPA Cycles
Lengthening NPA Cycles
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Toxic Mix of Habits
Toxic Mix of Habits
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Traditional Lifestyle and Business
Traditional Lifestyle and Business
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Resource Dependence on Hostile Nations
Resource Dependence on Hostile Nations
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Intermittency of Renewable Energy
Intermittency of Renewable Energy
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Opportunity Cost of Renewable Energy Land Use
Opportunity Cost of Renewable Energy Land Use
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Fiscal Implications of Energy Transition
Fiscal Implications of Energy Transition
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Stranded Assets
Stranded Assets
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Alternative Mobility Solutions
Alternative Mobility Solutions
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Emulating Policies from Other Nations
Emulating Policies from Other Nations
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Letting Go of Control
Letting Go of Control
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What is the Economic Survey?
What is the Economic Survey?
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Who contributes to the Economic Survey?
Who contributes to the Economic Survey?
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What is the Economic Survey's message to the families of those involved?
What is the Economic Survey's message to the families of those involved?
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What does the Economic Survey rely on for its analysis?
What does the Economic Survey rely on for its analysis?
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Who are some of the key collaborators on the Economic Survey?
Who are some of the key collaborators on the Economic Survey?
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How is the Economic Survey made accessible to a wider audience?
How is the Economic Survey made accessible to a wider audience?
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What kind of expertise is involved in creating the Economic Survey?
What kind of expertise is involved in creating the Economic Survey?
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What does the diverse team behind the Economic Survey represent?
What does the diverse team behind the Economic Survey represent?
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Trade Openness
Trade Openness
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Share in Global Exports
Share in Global Exports
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Trade Balance
Trade Balance
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Current Account Balance
Current Account Balance
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Global Value Chains (GVCs)
Global Value Chains (GVCs)
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Capital Flows
Capital Flows
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Remittances
Remittances
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Exchange Rate Volatility
Exchange Rate Volatility
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PVTG (Particularly Vulnerable Tribal Groups)
PVTG (Particularly Vulnerable Tribal Groups)
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QIP (Qualified Institutional Placement)
QIP (Qualified Institutional Placement)
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R&D (Research and Development)
R&D (Research and Development)
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RBCF (Risk-Based Capital Framework)
RBCF (Risk-Based Capital Framework)
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RBI (Reserve Bank of India)
RBI (Reserve Bank of India)
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RCS (Regional Connectivity Scheme)
RCS (Regional Connectivity Scheme)
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RE (Renewable Energy)
RE (Renewable Energy)
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REITs (Real Estate Investment Trusts)
REITs (Real Estate Investment Trusts)
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RERA (Real Estate (Regulation and Development) Act)
RERA (Real Estate (Regulation and Development) Act)
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STARS (Strengthening of Teaching-Learning and Results for States)
STARS (Strengthening of Teaching-Learning and Results for States)
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SAATHI (System for Assessment, Awareness and Training for Hospitality Industry)
SAATHI (System for Assessment, Awareness and Training for Hospitality Industry)
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SAMARTH (Sustainable Agrarian Mission on Use of Agri-Residue in Thermal Power Plant)
SAMARTH (Sustainable Agrarian Mission on Use of Agri-Residue in Thermal Power Plant)
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SWAMIH (Special Window for Affordable and Mid-Income Housing)
SWAMIH (Special Window for Affordable and Mid-Income Housing)
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SWAYAM (Study Webs of Active Learning for Young Aspiring Minds)
SWAYAM (Study Webs of Active Learning for Young Aspiring Minds)
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SWIFT (Single Window Interface for Facilitation of Trade)
SWIFT (Single Window Interface for Facilitation of Trade)
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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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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.
