Indian Economy Quiz: Day 94

Answer: (b)

Answer: (c)

Answer: (c)

• The Reserve Bank of India’s Medium-term Strategy Framework for the period 2023- 2025 ‘Utkarsh 2.0’ was launched by the Governor of RBI.
• The Vision in Utkarsh 2.0 that will guide the RBI over the period 2023-25 are:

1. Excellence in performance of its functions;
2. Strengthened trust of citizens and Institutions in the RBI;
3. Enhanced relevance and significance in national and global roles;
4. Transparent, accountable and ethics-driven internal governance;
5. Best-in-class and environment-friendly digital and physical infrastructure; and
6. Innovative, dynamic and skilled human resources.

Answer: (b)

Answer: (a)

• DSIBs are also referred to as“Too Big To Fall” (TBTF)because of their size, cross jurisdictional activities, complexity and lack of substitute and interconnection.
• Banks whose assetscross 2% of the GDP are considered DSIBs. If these banks fail, they can have a disruptive effect on the economy.
• D-SIBs are categorised under five buckets.

Answer: (b)

Answer: (c)

• It is used as a measure to determine how well the government controls a country’s economic resources.
• The tax to GDP ratio measures the size of a country’s tax revenue compared to its GDP.
• The higher the tax to GDP ratio, the better the country’s financial position.
• The ratio denotes the government’s ability to fund its expenditures.
• A greater tax to GDP ratio indicates that the government can cast a wider fiscal net.
• It helps a government become less reliant on borrowing.

Answer: (c)

• In September 2022 the international poverty line is being updated from $1.90 to $2.15 per person per day.

Answer: (a)

Answer: (d)

Answer: (d)

• The law of demand states that, if all other factors remain equal, the higher the price of a good, the less people will demand that good. In other words, the higher the price, the lower the quantity demanded.
• The law of supply says that at higher prices, sellers will supply more of an economic good.

Answer: (d)

Answer: (b)

India has conducted the Census every 10 years since 1881; only 2021, a pandemic ­affected year, was an exception as the exercise was postponed

Answer: (b)

• The 17th Pravasi Bharatiya Divas Convention was organised in partnership with the Madhya Pradesh Government from 08-10 January 2023 in Indore.
• The theme of this PBD Convention is “Diaspora: Reliable partners for India’s progress in Amrit Kaal”.
• Addressing Youth Pravasi Bharatiya Divas, 2023, the first event of the 17th Pravasi Bharatiya Divas Convention, in Indore, Mr. Jaishankar said the young members of the Indian diaspora could learn values and traditions from such institutions to stay connected to their Indian roots.

Answer: (c)