Current Affairs Questions and Answers 29th March 2024

29th March Current Affairs 2024 Quiz

Q1. What percentage of the total borrowing target for FY25 does the Indian government plan to raise in the first half of the fiscal year?
(a) 40%
(b) 53%
(c) 65%
(d) 75%
(e) 80%

Q2. What is the estimated fiscal deficit for FY25 as a percentage of Gross Domestic Product (GDP)?
(a) 4.3%
(b) 4.8%
(c) 5.1%
(d) 5.5%
(e) 6.0%

Q3. Who released the ‘India Employment Report 2024’ highlighting the grim job scenario in India?
(a) International Monetary Fund (IMF)
(b) International Labour Organization (ILO)
(c) World Bank
(d) United Nations Development Programme (UNDP)
(e) Asian Development Bank (ADB)

Q4. Who unveiled the ‘India Employment Report 2024’?
(a) Prime Minister of India
(b) President of India
(c) Chief Economic Adviser of India
(d) Minister of Labour and Employment
(e) Governor of Reserve Bank of India

Q5. What is Morgan Stanley’s revised GDP growth forecast for India for the financial year 2024-25 (FY25)?
(a) 6.2%
(b) 6.5%
(c) 6.8%
(d) 7.0%
(e) 7.2%

Q6. Where is Gopalpur Port located?
(a) Gujarat
(b) Maharashtra
(c) Odisha
(d) Tamil Nadu
(e) Karnataka

Q7. When was the Competition Commission of India (CCI) constituted?
(a) March 2005
(b) March 2009
(c) January 2010
(d) December 2012
(e) None of the above

Q8. Under which code is the Corporate Insolvency Resolution Process (CIRP) governed in India?
(a) Companies Act, 1956
(b) Insolvency and Bankruptcy Code, 2016 (IBC)
(c) Income Tax Act, 1961
(d) Securities and Exchange Board of India Act, 1992
(e) None of the above

Q9. Which regulatory body in India designates insurers as Domestic Systemically Important Insurers (D-SIIs) for a given year?
(a) Securities and Exchange Board of India (SEBI)
(b) Reserve Bank of India (RBI)
(c) Insurance Regulatory and Development Authority of India (IRDAI)
(d) Ministry of Finance
(e) Competition Commission of India

Q10. How much does the government plan to raise through the issuance of sovereign green bonds (SGBs) as part of its market borrowing in FY25?
(a) Rs 5,000 crore
(b) Rs 8,000 crore
(c) Rs 10,000 crore
(d) Rs 12,000 crore
(e) Rs 15,000 crore

Solutions

S1. Ans.(b)
Sol. The government aims to borrow Rs 7.5 lakh crore in the first half of FY25 out of its total borrowing target of Rs 14.13 lakh crore for the fiscal year, making up approximately 53% of the annual target.

S2. Ans.(c)
Sol. The fiscal deficit for FY25 is estimated to be 5.1% of the Gross Domestic Product (GDP), down from 5.8% in the current fiscal year.

S3. Ans.(b)
Sol. The International Labour Organization (ILO), in collaboration with the Institute of Human Development (IHD), released the ‘India Employment Report 2024,’ shedding light on the challenges faced by the Indian job market.

S4. Ans.(c)
Sol. The report was unveiled by Chief Economic Adviser V. Anantha Nageswaran, highlighting its significance in the economic policy discourse of India.

S5. Ans.(c)
Sol. Morgan Stanley has upgraded its GDP growth forecast for India for FY25 to 6.8%, reflecting an optimistic outlook on India’s economic trajectory. This revision indicates confidence in India’s economic strength and stability for the upcoming fiscal year.

S6. Ans.(c)
Sol. Gopalpur Port is located in the Ganjam district of Odisha. This strategic location provides access to the eastern coastline of India, enhancing connectivity and trade opportunities for the port.

S7. Ans.(b)
Sol. The Competition Commission of India (CCI) was constituted in March 2009, replacing the Monopolies and Restrictive Trade Practices Act, 1969 (MRTP Act), with the responsibility of enforcing the Competition Act, 2002.

S8. Ans.(b)
Sol. The Corporate Insolvency Resolution Process (CIRP) in India is governed by the Insolvency and Bankruptcy Code, 2016, which aims at resolving financial distress of corporate debtors.

S9. Ans.(c)
Sol. IRDAI is responsible for identifying insurers as Domestic Systemically Important Insurers (D-SIIs) based on their size, market importance, and interconnectedness within the financial system.

S10. Ans.(d)
Sol. The government plans to raise Rs 12,000 crore through the issuance of sovereign green bonds (SGBs) as a part of its market borrowing strategy for FY25.