Most
Important Questions on Economic Survey 2018
1. Who authored the document of Economic survey?
a) Arun Jaitely
b) Arvind Subramaniam
c) Narendra Modi
d) Sumitra Mahajan
e) M. Thambidurai
Answer: B)
Explanation: Cheif Economist Advisor, authors the document of Economic
survey. Currently Arvind Subramaniam is Cheif Economist Advisor.
2. Economic survey mentions which of the following?
a) corruption in bureaucracy
b) pendency in judiciary
c) growing mortality rate
d) Net accessibility
e) All of the above
Answer: B)
Explanation: There is a need to address the issues of pendency, delays
and backlogs in the appellate and judicial arenas towards Ease of doing
business. Tax departments have a large number of cases filed.
3. According to survey, _______ affect consumption and hold
back real economic activity.
a) decreasing export
b) increasing deficit
c) decreasing GDP
d) rising oil prices
e) All of the above
Answer: D)
Explanation: Policy vigilance is needed in the coming year if high oil
prices persist or stock prices correct sharply. Rising oil prices affect
consumption and hold back real economic activity.
4. Who present Economic Survey?
a) Finance Minister
b) Chief Economic Advisor
c) Prime Minister
d) Home Minister
e) Home affairs Minister
Answer: A)
Explanation: Finance Minister presents Economic Survey before Annual
budget.
5. Which of the following is not among the Policy Agenda for
Next Year?
a) Support Agriculture
b) Stabilize GST
c) Improve Tourism
d) Privatize Air India
e) Finish Bank Recapitalisation
Answer: C)
Explanation: Support Agriculture, Stabilize GST, Privatize Air India,
Finish Bank Recapitalisation are among the Policy Agenda for Next Year.
6. What is the rank of India in World bank’s latest doing
business report 2018?
a) 130
b) 100
c) 111
d) 128
e) 160
Answer: B)
Explanation: On the Ease of doing business, the economic survey
highlights that India has leapt 30 ranks over its previous rank of 130 in the
World bank’s latest doing business report 2018.
7. Why India has focusing on Feminization of Agriculture
sector?
a) better schemes given to women by
government
b) men becoming lazy day by day
c) men don't consider agriculture as
a earning source any more
d) growing migration of Men
e) women empowerment
Answer: D)
Explanation: Food grains productions have increased but due to the
growing migration of Men, Feminization of Agriculture sector is there. India
also celebrates women’s farmer day.
8. Sanitation coverage in rural areas increased from ______ %
in 2014 to _______% in January 2018.
a) 20, 40
b) 37, 56
c) 40, 75
d) 45, 90
e) 39, 76
Answer: E)
Explanation: Swachh Bharat initiative improved sanitation coverage in
rural areas from 39% in 2014 to 76% in January 2018.
9. According to economic survey, what was the impact of
demonetisation on Economy?
a) long term
b) Medium term
c) temporary
d) can't be determined
e) None of the above
Answer: C)
Explanation: Growth is picking up because the temporary impact of
demonetisation has dissipated. Exports have picked up and manufacturing sector
growth is about 11.3%. India’s external sector to remain strong on likely improvement
in global trade.
10. What are the words used in Economic Survey to represent
India’s understanding of the private sector?
a) crony socialism
b) stigmatized capitalism
c) gloomy federalism
d) Both 1 and 2
e) Both 2 and 3
Answer: D)
Explanation: India’s understanding of the private sector has moved away
from ‘crony socialism to stigmatized capitalism’.
11. According to Economic Survey, India’s agriculture sector
is likely to grow at _______ % in 2017 – 18.
a) 1.3
b) 2
c) 1.8
d) 2.7
e) 2.1
Answer: E)
Explanation: India’s agriculture sector is likely to grow at 2.1 % in
2017 – 18 followed by industry at 4.4 % and services at 8.3%.
12. Read the following sentences carefully:
1)
Direct tax collections by Indian states and local governments are significantly
higher than those of their counterparts in other federal countries.
2) The
footprint of climate change is evident and extreme weather adversely impacts
agricultural yields.
3) The
impact of weather is felt only with extreme temperature increases and rainfall
deficiencies.
4) This
impact is twice as large in un – Irrigated areas as compared to irrigated ones.
Which of the following sentence/sentences is/are correct with
respect to the recently released economic survey.
a) Only 1
b) Only 2 and 4
c) Only 2, 3 and 4
d) All are correct
e) None is correct
Answer: C)
Explanation: According to Economic Survey 2018, direct tax collections by
Indian states and local governments are significantly lower than those of their
counterparts in other federal countries. The footprint of climate change is
evident and extreme weather adversely impacts agricultural yields. The impact
of weather is felt only with extreme temperature increases and rainfall
deficiencies. This impact is twice as large in un – Irrigated areas as compared
to irrigated ones.
13. What is the best way to increase growth according to
survey?
a) Raising saving
b) Earning more
c) Giving employement
d) Raising investment
e) Buying cryptocurrencies
Answer: D)
Explanation: To reignite growth, raising investment is more important
than raising saving.
14. What is the reason behind India's skewed sex ratio?
a) decreasing sons population
b) due to some hereditary problem
c) early mortality in case of females
d) Preference of sons over daughters
e) due to growing crime against women
Answer: D)
Explanation: Indian society exhibits strong son “Beta” preference. Indian
parents often continue to have children till they have desired number of sons –
leading to skewed sex ratio.
15. Top 1% of the Indian firms account for how much percent
of exports?
a) 20
b) 38
c) 60
d) 47
e) 23
Answer: B)
Explanation: India’s firm export is substantially more egalitarian than
in other large countries. The clothing incentive package boosted exports of
readymade garments. Top 1% of the Indian firms account for 38% of exports while
in all other countries they account for a substantially greater share.
16. How many new individual tax filers have joined since
November 2016?
a) 1 million
b) 1.5 million
c) 2 million
d) 1.8 million
e) 1.2 million
Answer: D)
Explanation: An addition of about 1.8 million in individual income tax
filers since November 2016.
17. If according to Economic Survey CPI Inflation for FY 2018
is 3.3% then what is WPI Inflation for the year ______.
a) 2.9%
b) 1.7%
c) 3%
d) 2.1%
e) 3.3%
Answer: A)
Explanation: Inflation was below 4% for more than 12 months since
November 2016. For FY 2018 CPI Inflation is 3.3% (lowest in 6 years) and WPI
Inflation is 2.9%
18. What is the targeted Fiscal Deficit this year?
a) remain as it is
b) Above 2%
c) Below 2%
d) Below 3.2%
e) Above 3.2%
Answer: C)
Explanation: Fiscal Deficit as a percentage of GDP is the most important
factor to judge the health of an economy and budget. It has gone down steadily
over the past four years i.e. 3.2% in 2017 – 18. The target is to bring below
2%.
19. According to Economic Survey 2018, what is the real GDP
growth of 2017 – 18?
a) 7.0%
b) 6.75%
c) 7.5%
d) 7.89%
e) 8.0%
Answer: B)
Explanation: Real GDP growth to clock 6.75 % this fiscal (2017 – 18) and
economic survey predict 7.0 – 7.5 % growth in 2018 – 19 and employment,
education and agriculture to be the focus areas in the medium term.
20. Why the colour of Economic Survey 2018 is pink?
a) to show the women's development
b) to highlight special benefits for
the women given in the survey
c) to support the movement for
women’s rights
d) to show India's growth
e) None of the above
Answer: C)
Explanation: The Economic Survey 2017-18 tabled in Parliament is printed
in pink to highlight gender issues amid economic development. The survey
estimated that due to "meta-preference" for sons, India could have
about 21 million "unwanted girls," or girls whose parents wanted to
have sons instead. It pointed out that most parents continued to have children
until they got sons.
