Economics GK Quiz for Competitive Exams

Explanation: The arithmetic weighted mean of petroleum refinery production is the highest (28.04%) among the eight major sectors of the economy. The arithmetic weighted mean of eight major industries included in the Industrial Production Index is 40.27.

Explanation: The contribution of FDI sending countries to India in the period April 2000 – September 2017 is as follows; Mauritius-(34%), Singapore-(17%), UK-(7%), Japan-(7%) and USA-(6%).

Explanation: The sectors attracting highest FDI in the period April 2000 – June 2017 are as follows;

1. Service Sector (17%)

2. Telecom (8%)

3. Computer Software and Hardware (8%)

4. Construction Development (7%)

5. Automobile (5%)

6. Drugs and Pharmaceuticals (4%)

7. Chemicals (4%)

8. Trading (4%)

9. Power (3%)

10.Construction activities (3%)

Explanation: Petroleum oil and allied products contribute the most to India's total imports and are responsible for about 22% of India's total imports. After this comes capital goods which are responsible for 19.2% of total imports.

Department of Animal Husbandry and Dairying (DAHD), Ministry of Fisheries, Animal Husbandry and Dairying, has signed an MoU with United Nations Development Program (UNDP), India for digitalization of vaccine cold chain management, capacity building and communication scheme.

The money market is an organized exchange market where participants can borrow short-term, high-quality debt securities with an average maturity of one year or less.

Rashtriya Ispat Nigam Limited (RINL) filed a draft prospectus with market regulator SEBI for Initial Public Offering (IPO) on September 23, 2014. Under which the government will sell 10% shares of its participation in this company to the company. The government aims to raise Rs 43,425 crore by disinvestment in PSU companies.

The correct option is capital method.

The fiscal deficit target for FY 2022-23 was set at 6.4 per cent of GDP, which was 0.4 percentage points lower than the actual estimate for FY 2021-22 (6.8 per cent of GDP). The fiscal deficit was estimated at 6.4 percent of GDP in the revised estimate 2022-23.

Explanation: The Ministry of Statistics and Program Implementation has changed the base year for calculating national income from 2004-05 to 2011-12. This was changed in January 2010.