0 Economic Survey 2023 -2024 Economic Survey 2023 -2024 1 / 25 Q1. What is the projected real GDP growth for India according to the Economic Survey? 5.5-6% 6-6.5% 6.5-7% 7-7.5% Explanation: India’s economy is projected to grow by 6.5 to 7 percent in the financial year ending March 2025, according to the 2023-24 Economic Survey report. 2 / 25 Q2. According to Economic Survey 2023-24, how much did India's real GDP grow in FY 2024? 6.2% 7.2% 8.2% 9.2% Explanation: India's real GDP to grow by 8.2% in FY 2024, according to Economic Survey 2023-24. 3 / 25 Q3. What was the retail inflation rate in FY 2024 as per Economic Survey 2023-24? 5.4% 4.4% 4.4% 5.9% Explanation: The Economic Survey 2023-24 reports that inflationary pressures in India have been effectively managed through administrative and monetary policies, reducing retail inflation from 6.7 percent in FY 2022-23 to 5.4 percent in FY 2023-24. 4 / 25 Q4. What was India’s rank in the Logistics Performance Index in 2023? 38th 28th 33rd 43th Explanation: India's rank improved from 44th in 2018 to 38th in 2023 out of a total of 139 countries in the World Bank's Logistics Performance Index. 5 / 25 Q5. According to Economic Survey 2023-24, how much remittance did India receive in 2023? $100 billion $120 billion $140 billion $160 billion Explanation: According to the Economic Survey 2023-24, remittances to India are projected to reach $120 billion in 2023. 6 / 25 Q6. According to Economic Survey 2023-24, remittance growth will decline by how much percent? 1.7 2.7 4.7 3.7 Explanation: The Economic Survey presented in Parliament by Finance Minister Nirmala Sitharaman said, "The outlook for remittances to India for 2024 is strong, with remittance growth expected to moderate to 3.7 per cent, reaching the level of $124 billion in 2024." 7 / 25 Q7. According to Economic Survey 2023-24, how many houses were built under PM-Awas-Gramin? 2.13 crore 3.13 crore 3.63 crore 2.63 crore Explanation: According to the latest Economic Survey, 2.63 crore houses were constructed for the poor under PM-Awas-Gramin in the last nine years (till July 10, 2024). 8 / 25 Q8. What was the industrial growth rate supporting overall economic growth in FY24? 8.5% 9.5% 10.5% 11.5% Explanation: Economic Survey states that the economic growth of 8.2% in FY24 has been largely supported by the industrial growth rate of 9.5%. 9 / 25 Q9. What was the pace of National Highway construction by FY 2024, as per Economic Survey 2023-24? Around 34 km per day Around 29 km per day Around 39 km per day Around 44 km per day Explanation: According to the Economic Survey 2023-24, the average pace of construction of National Highways was 11.7 km per day in FY 2013-14, which will increase to 34 km per day in 2023-24. 10 / 25 Q10. What was the current account deficit (CAD) as a percentage of GDP in FY 2024, as per the Economic Survey 2023-24? 0.5% 0.7% 1.0% 1.5% Explanation: Regarding the current account deficit, the Economic Survey 2023-24 projects it at 0.7 per cent of GDP in FY24, much better than 2 per cent in FY23. 11 / 25 Q11. How much credit was disbursed by Scheduled Commercial Banks (SCBs) in FY24? ₹124.3 lakh crore ₹144.3 lakh crore ₹164.3 lakh crore ₹184.3 lakh crore Explanation: Credit disbursement by scheduled commercial banks (SCBs) is projected to reach ₹164.3 lakh crore in FY 2024, according to the Economic Survey 2023-24. 12 / 25 Q12. What was the average annual growth rate of the agriculture sector in the last five years as per the Economic Survey 2023-24? 3.18% 3.68% 4.18% 4.68% Explanation: According to the Economic Survey 2023-24, the average annual growth rate of the agriculture sector at constant prices in the last five years was 4.18 percent. 13 / 25 Q13. According to Economic Survey 2023-24, what was the loan amount of services sector in March 2024? ₹40.9 lakh crore ₹45.9 lakh crore ₹50.9 lakh crore ₹50.9 lakh crore Explanation: According to the Economic Survey 2023-24, the financial year ended March 24, 2024 with outstanding service sector credit of Rs 45.9 lakh crore, an increase of 22.9 per cent year-on-year. 14 / 25 Q14. According to the Economic Survey 2023-24, services exports grew by what percent in FY24? 3.9% 5.9% 6.9% 4.9% Explanation: According to the Economic Survey 2023-24, in the financial year 2024 India's services exports grew 4.9 percent to USD 341.1 billion in FY24, led mainly by IT/software services and other business services. 15 / 25 Q15. According to Economic Survey 2023-24, what was India's share in global merchandise exports in FY 2024? 1.4% 1.6% 2.0% 1.8% Explanation: According to the Economic Survey 2023-24, India is gaining market share in global exports of goods and services, benefiting from its strong trade ties with countries, taking its share in global merchandise exports to 1.8% in FY24. 16 / 25 Q16. What was the external debt to GDP ratio at the end of March 2024, as per the Economic Survey 2023-24? 18.7% 16.7% 17.7% 20.7% Explanation: As per the Economic Survey 2023-24, the external debt to GDP ratio remained sustainable at 18.7% at the end of March 2024. 17 / 25 Q17. Consider the following statements related to Economic Survey 2023-24: 1. Artificial Intelligence (AI) is the biggest disruptive factor in the future of work, says the Economic Survey 2023-24. 2. It notes that the BPO (business process outsourcing) sector faces a decline in employment due to GenAI chatbots. Which of the above statement/statements are correct? 1 only 2 only Both 1 and 2 Neither 1 nor 2 Explanation: The Economic Survey 2023-24 stipulates that artificial intelligence (AI) is the biggest future work disruptor, presenting both risks and opportunities for India’s young population. It notes that the BPO (business process outsourcing) sector faces a decline in employment due to GenAI chatbots. The Survey, however, stresses adapting AI and steering technology towards collective welfare. 18 / 25 Q18. Consider the following statements related to Economic Survey 2023-24: 1. The Economic Survey 2023-24 states that the Indian corporate sector has witnessed remarkable profit growth. 2. Pre-tax profits have almost doubled. 3. The corporate profit-GDP ratio has reached a 15-year high in FY24. Which of the statements given above is/are correct?` 1 and 2 are correct 1 and 3 are correct 2 and 3 are correct All of the above Explanation: The Economic Survey 2023-24 notes that the Indian corporate sector has seen significant profit increases, with pre-tax profits nearly quadrupling and corporate profits-to-GDP ratio reaching a 15-year high in FY24. The Survey findings suggest that it is in the interest of companies to step up hiring and compensation, given their improved financial performance. 19 / 25 Q19. Consider the following statements related to Economic Survey 2023-24: 1. The Economic Survey 2023-24 estimates that India's workforce is around 565 million. 2. Of which over 45 per cent are engaged in agriculture, 19.4 per cent in manufacturing, 28.9 per cent in services and 13.0 per cent in construction. Which of the above statement/statements are correct? 1 only 2 only Both 1 and 2 Neither 1 nor 2 Explanation: The Economic Survey 2023-24 estimates India’s workforce at nearly 565 million, with over 45 percent engaged in agriculture, 11.4 percent in manufacturing, 28.9 percent in services, and 13.0 percent in construction. The services sector remains a major job creator, while the construction sector’s importance has increased due to government infrastructure initiatives. However, construction jobs are often informal and low-paid, highlighting the need for better employment opportunities for those transitioning from the agriculture sector. 20 / 25 Q20. Consider the following statements related to Economic Survey 2023-24: 1. Employment in the domestic manufacturing sector, which was previously stagnant due to bad loans, has shown signs of improvement from 2021-22, the report said. 2. Labour market indicators in India have improved over the last six years, with the unemployment rate declining to 3.2 per cent in 2022-23. 3. Net payroll additions under the Employees' Provident Fund Organisation (EPFO) have more than doubled in the last two years, indicating healthy growth in formal employment. Which of the statements given above is/are correct? 1 and 2 are correct 1 and 3 are correct 2 and 3 are correct All of the above Explanation: Economic Survey 2023-24 report notes that employment in the domestic manufacturing sector, previously stagnant due to bad loans, has shown signs of recovery from 2021-22. Labor market indicators in India have improved over the past six years, with the unemployment rate dropping to 3.2 percent in 2022-23. Increasing youth and female workforce participation offers opportunities to leverage demographic and gender dividends. Net payroll additions under the Employees’ Provident Fund Organization (EPFO) have more than doubled in the past five years, indicating healthy growth in formal employment. 21 / 25 Q21. Consider the following statements related to Economic Survey 2023-24: 1. The Economic Survey 2023-24 report highlights a decrease in India’s fiscal deficit from 6.4 percent in FY23 to 4.6 percent in FY24. 2. On fiscal balances, the Survey noted that “tax compliance gains from procedural reforms, expenditure restraint, and rising digitization” have offset the impact of “expansionary public investment.” Which of the above statement/statements are correct? 1 only 2 only Both 1 and 2 Neither 1 nor 2 Explanation: The Economic Survey 2023-24 Report highlights a decrease in India’s fiscal deficit from 6.4 percent in FY23 to 5.6 percent in FY24. This reduction was driven by robust growth in direct and indirect tax revenues, thanks to resilient economic activity and improved tax compliance. Additionally, higher-than-expected non-tax revenue from RBI dividends boosted revenue receipts. On fiscal balances, the Survey noted that “tax compliance gains from procedural reforms, expenditure restraint, and rising digitization” have offset the impact of “expansionary public investment.” 22 / 25 Q22. Consider the following statements related to Economic Survey 2023-24: 1. Under PM-Awas-Gramin, 3.63 crore houses were built for the poor in the last nine years (till July 10, 2024). 2. 10.3 crore LPG connections were provided under PM Ujjwala Yojana since 2016 (till June 2, 2024). Which of the above statement/statements are correct? 1 only 2 only Both 1 and 2 Neither 1 nor 2 Explanation: According to the Economic Survey 2023-24, 2.63 crore houses were constructed for the poor under PM-Awas-Gramin in the last nine years (till July 10, 2024) and 10.3 crore LPG connections were provided under PM Ujjwala Yojana since 2016 (till June 2, 2024). 23 / 25 Q23. Match List-I and List-II related to Economic Survey 2023-24 and select the correct answer using the code given below: LIST-I LIST-II A. GDP growth rate 1. 646.4 B. Fiscal deficit 2. 5.6 C. Foreign exchange reserves 3. 6.5 - 7.0 D. Food grain production 4. 328.9 Based on the above list, select the correct answer using the given code? A-1, B-4, C-2, D-3 A-2, B-1, C-4, D-3 A-3, B-2, C-1, D-4 A-3, B-4, C-2, D-1 Explanation: A-3, B-2, C-1, D-4 24 / 25 Q24. Match List-I and List-II related to Economic Survey 2023-24 and select the correct answer using the code given below: LIST-I LIST-II A. Industrial growth rate 1. 7.6 B. Services 2. 9.5 C. Capital expenditure 3. 675.4 D. Foreign trade Imports 4. 3.2 Based on the above list, select the correct answer using the given code? A-1, B-4, C-2, D-3 A-2, B-1, C-4, D-3 A-3, B-2, C-1, D-4 A-3, B-4, C-2, D-1 Explanation: A-2, B-1, C-4, D-3 25 / 25 Q25. Match List-I and List-II related to Economic Survey 2023-24 and select the correct answer using the code given below: LIST-I LIST-II A. Gross National Income (GDPMP) 1. 9.6 B. Gross National Income (GDPFC) 2. 8.2 C. Net National Income (NNP MP) 3. 9.5 D. Net National Income (NNP FC) 4. 8.3 Based on the above list, select the correct answer using the given code? A-1, B-4, C-2, D-3 A-2, B-1, C-4, D-3 A-3, B-2, C-1, D-4 A-3, B-4, C-2, D-1 Explanation: A-3, B-2, C-1, D-4 Your score is LinkedIn Facebook Twitter VKontakte Post navigation Economic Survey 2023-24 Finance Minister Nirmala Sitharaman presented the Economic Survey 2023-24 in the parliament
