Economic survey 2023-24 question answer

Here are 60 objective-type questions with Economic Survey 2023-24 answers based on the provided information about the Economic Survey 2023-24:

State of the Economy

1. What is the GDP growth projection for the upcoming fiscal year according to the Economic Survey 2023-24?

   a) 5-5.5%

   b) 6-6.5%

   c) 6.5-7%

   d) 7-7.5%

   e) 7.5-8%

2. By how much did India’s real GDP expand in FY24?

   a) 7.2%

   b) 8.0%

   c) 8.2%

   d) 8.5%

   e) 9.0%

3. What was the increase in Gross Value Added (GVA) in FY24?

   a) 6.5%

   b) 7.0%

   c) 7.2%

   d) 7.5%

   e) 8.0%

4. What percentage of total tax collections did direct taxes contribute in FY24?

   a) 45%

   b) 50%

   c) 55%

   d) 60%

   e) 65%

5. What was the retail inflation rate in FY24?

   a) 4.5%

   b) 5.0%

   c) 5.4%

   d) 6.0%

   e) 6.5%

6. What was the current account deficit (CAD) as a percentage of GDP in FY24?

   a) 0.5%

   b) 0.7%

   c) 1.0%

   d) 1.5%

   e) 2.0%

7. By how much did India’s real GDP exceed pre-COVID levels in FY24?

   a) 15%

   b) 18%

   c) 20%

   d) 22%

   e) 25%

8. How many people received free food grains under the welfare programs in FY24?

   a) 70.4 crore

   b) 75.4 crore

   c) 80.4 crore

   d) 81.4 crore

   e) 85.4 crore

Monetary Management and Financial Intermediation

9. What was the policy repo rate maintained by the RBI in FY24?

   a) 6.0%

   b) 6.25%

   c) 6.5%

   d) 6.75%

   e) 7.0%

10. By how much did credit growth of Scheduled Commercial Banks (SCBs) increase by March 2024?

    a) 15.2%

    b) 18.2%

    c) 20.2%

    d) 22.2%

    e) 25.2%

11. Excluding the HDFC merger, what was the year-on-year growth of Broad Money (M3) as of March 22, 2024?

    a) 9.2%

    b) 10.2%

    c) 11.2%

    d) 12.2%

    e) 13.2%

12. What was the value of capital formation facilitated by primary capital markets in FY24?

    a) ₹8.9 lakh crore

    b) ₹9.9 lakh crore

    c) ₹10.9 lakh crore

    d) ₹11.9 lakh crore

    e) ₹12.9 lakh crore

13. What was India’s stock market capitalization-to-GDP ratio ranking globally?

    a) Second

    b) Third

    c) Fourth

    d) Fifth

    e) Sixth

Prices and Inflation

14. What was the retail inflation rate in FY24, the lowest since the pandemic?

    a) 4.5%

    b) 5.0%

    c) 5.4%

    d) 5.8%

    e) 6.2%

15. By how much were LPG cylinder prices reduced in August 2023?

    a) ₹100

    b) ₹150

    c) ₹200

    d) ₹250

    e) ₹300

16. What was the reduction in petrol and diesel prices per litre?

    a) ₹1

    b) ₹1.5

    c) ₹2

    d) ₹2.5

    e) ₹3

17. By how much did core services inflation decline to a nine-year low?

    a) 2.5%

    b) 3.0%

    c) 3.5%

    d) 4.0%

    e) 4.5%

18. What was the food inflation rate in FY24?

    a) 6.5%

    b) 7.0%

    c) 7.5%

    d) 8.0%

    e) 8.5%

External Sector

19. What was India’s rank in the Logistics Performance Index in 2023?

    a) 32nd

    b) 34th

    c) 36th

    d) 38th

    e) 40th

20. What was India’s share in global goods exports in FY24?

    a) 1.5%

    b) 1.7%

    c) 1.8%

    d) 2.0%

    e) 2.2%

21. By how much did services exports grow in FY24?

    a) 3.5%

    b) 4.0%

    c) 4.5%

    d) 4.9%

    e) 5.5%

22. How much did India receive in remittances in 2023?

    a) USD 100 billion

    b) USD 110 billion

    c) USD 115 billion

    d) USD 120 billion

    e) USD 125 billion

23. What was the external debt-to-GDP ratio at the end of March 2024?

    a) 15.7%

    b) 16.7%

    c) 17.7%

    d) 18.7%

    e) 19.7%

A Growth Strategy for New India

24. What is one of the key areas emphasized for the medium-term growth strategy?

    a) Reducing fiscal deficit

    b) Green Transition

    c) Increasing exports

    d) Promoting tourism

    e) Enhancing healthcare

25. Which strategy focuses on aligning education with job market needs?

    a) Amrit Kaal Strategy

    b) Vision 2025

    c) Skill India Mission

    d) Make in India

    e) Startup India

26. What is the required annual job creation in the non-farm sector until 2030?

    a) 60.5 lakh

    b) 65.5 lakh

    c) 70.5 lakh

    d) 75.5 lakh

    e) 78.5 lakh

Climate Change and Energy Transition

27. What is India’s vision for achieving Net Zero carbon emissions?

    a) 2040

    b) 2050

    c) 2060

    d) 2070

    e) 2080

28. What percentage of installed electricity generation capacity came from non-fossil sources as of May 31, 2024?

    a) 40.4%

    b) 42.4%

    c) 43.4%

    d) 45.4%

    e) 47.4%

29. By how much did India reduce the emission intensity of its GDP from 2005 levels by 2019?

    a) 25%

    b) 28%

    c) 30%

    d) 33%

    e) 35%

30. How much carbon sequestration is targeted by 2030 through afforestation and tree cover expansion?

    a) 2.5-3.0 billion tonnes

    b) 3.0-3.5 billion tonnes

    c) 3.5-4.0 billion tonnes

    d) 4.0-4.5 billion tonnes

    e) 4.5-5.0 billion tonnes

Agriculture and Food Management

31. What was the total foodgrain production in 2022-23?

    a) 320.0 million tonnes

    b) 325.0 million tonnes

    c) 330.0 million tonnes

    d) 335.0 million tonnes

    e) 340.0 million tonnes

32. What percentage of food grains were distributed under the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) in 2022-23?

    a) 20%

    b) 25%

    c) 30%

    d) 35%

    e) 40%

33. What is the target for doubling farmers’ income by?

    a) 2022

    b) 2025

    c) 2028

    d) 2030

    e) 2032

34. How much did the government increase the Minimum Support Price (MSP) for Rabi crops in 2023?

    a) 3-4%

    b) 4-5%

    c) 5-6%

    d) 6-7%

    e) 7-8%

Industry and Infrastructure

35. What was the growth rate of the Index of Industrial Production (IIP) in FY24?

    a) 2.8%

    b) 3.8%

    c) 4.8%

    d) 5.8%

    e) 6.8%

36. By how much did the construction sector grow in FY24?

    a) 8.0%

    b) 9.0%

    c) 10.0%

    d) 11.0%

    e) 12.0%

37. How much did the railway sector receive in budget allocation for FY24?

    a) ₹2 lakh crore

    b) ₹2.5 lakh crore

    c) ₹3 lakh crore

    d) ₹3.5 lakh crore

    e) ₹4 lakh crore

38. What is the growth target for the manufacturing sector by 2025?

    a) 10%

    b) 12%

    c) 14%

    d) 16%

    e) 18%

Services Sector

39. What percentage did the services sector contribute to India’s GDP in FY24?

    a) 50%

    b) 52%

    c) 54%

    d) 56%

    e) 58%

40. By how much did the IT-BPM sector grow in FY24?

    a) 8.0%

    b) 8.5%

    c) 9.0%

    d) 9.5%

    e) 10.0%

41. What was the tourism sector’s contribution to employment in FY24?

    a) 10%

    b) 12%

    c) 14%

    d) 16%

    e) 18%

42. How much did the financial services sector expand in FY24?

    a) 7.5%

    b) 8.0%

    c) 8.5%

    d) 9.0%

    e) 9.5%

Social Infrastructure, Employment, and Human Development

43. What was the increase in India’s literacy rate in FY24?

    a) 2%

    b) 3%

    c) 4%

    d) 5%

    e) 6%

44. By how much did the government increase expenditure on healthcare in FY24?

    a) ₹2 lakh crore

    b) ₹2.5 lakh crore

    c) ₹3 lakh crore

    d) ₹3.5 lakh crore

    e) ₹4 lakh crore

45. What was the increase in life expectancy in FY24?

    a) 0.5 years

    b) 1.0 years

    c) 1.5 years

    d) 2.0 years

    e) 2.5 years

Fiscal Developments

46. What was the fiscal deficit as a percentage of GDP in FY24?

    a) 4.5%

    b) 5.0%

    c) 5.5%

    d) 6.0%

    e) 6.5%

47. By how much did the government increase capital expenditure in FY24?

    a) 25%

    b) 30%

    c) 35%

    d) 40%

    e) 45%

48. What was the revenue deficit as a percentage of GDP in FY24?

    a) 2.0%

    b) 2.5%

    c) 3.0%

    d) 3.5%

    e) 4.0%

Economic Reforms

49. By how much did the government increase FDI inflows in FY24?

    a) 5%

    b) 7%

    c) 9%

    d) 11%

    e) 13%

50. What is one of the significant reforms introduced in FY24 to boost economic growth?

    a) Reduction in corporate tax

    b) Increase in import duties

    c) Privatization of PSUs

    d) Introduction of GST

    e) Land reforms

State of the Economy – A Region-wise Analysis

51. Which state had the highest GDP growth in FY24?

    a) Maharashtra

    b) Gujarat

    c) Tamil Nadu

    d) Karnataka

    e) Uttar Pradesh

52. Which region contributed the most to India’s GDP in FY24?

    a) Northern

    b) Southern

    c) Western

    d) Eastern

    e) Central

53. What was the GDP growth rate of the Eastern region in FY24?

    a) 5.5%

    b) 6.0%

    c) 6.5%

    d) 7.0%

    e) 7.5%

Governance and Institutions

54. How much did the government increase its spending on digitization in FY24?

    a) ₹10,000 crore

    b) ₹20,000 crore

    c) ₹30,000 crore

    d) ₹40,000 crore

    e) ₹50,000 crore

55. What was the improvement in India’s Ease of Doing Business ranking in FY24?

    a) 5 places

    b) 7 places

    c) 9 places

    d) 11 places

    e) 13 places

Human Capital and Innovation

56. By how much did the government increase its budget allocation for education in FY24?

    a) 10%

    b) 15%

    c) 20%

    d) 25%

    e) 30%

57. What was the increase in R&D expenditure in FY24?

    a) ₹50,000 crore

    b) ₹60,000 crore

    c) ₹70,000 crore

    d) ₹80,000 crore

    e) ₹90,000 crore

58. What was the increase in the number of startups in FY24?

    a) 5,000

    b) 7,500

    c) 10,000

    d) 12,500

    e) 15,000

Infrastructure Development

59. By how much did the government

 increase spending on infrastructure development in FY24?

    a) ₹1 lakh crore

    b) ₹1.5 lakh crore

    c) ₹2 lakh crore

    d) ₹2.5 lakh crore

    e) ₹3 lakh crore

60. What was the increase in national highway construction in FY24?

    a) 2,000 km

    b) 3,000 km

    c) 4,000 km

    d) 5,000 km

    e) 6,000 km

economic survey official website

read more details on the economic survey 2023-24