General Awareness Quiz for IBPS PO Mains 2022- 20th October

Q1. Which of the following has released its latest World Economic Outlook report in which it has cut its forecast for India’s gross domestic product (GDP) growth in financial year 2022-23 (FY23) by 60 basis points (bps) to 6.8 per cent?
(a) World Economic Forum
(b) World Bank
(c) UNEP
(d) International Monetary Fund
(e) None of the above

Q2. India’s current account deficit (CAD) has widened to $23.9 billion in the first quarter of the current financial year 2022-23. The current CAD is how much percent of India’s GDP?
(a) 18.4%
(b) 12.8%
(c) 2.8%
(d) 5.3%
(e) None of the above

Q3. The gross direct tax collections have increased by over 23 per cent in the current financial year as compared to last year. What is the amount of collection of gross direct tax?
(a) Rs 8,98,000 crore
(b) Rs 7,98,000 crore
(c) Rs 5,98,000 crore
(d) Rs 9,98,000 crore
(e) None of the above

Q4. According to the forecast by the United Nations Conference on Trade and Development (UNCTAD) Trade and Development Report 2022, India’s economic growth is expected to decline to what per cent in the year 2022?
(a) 3.8%
(b) 5.7%
(c) 4.2%
(d) 6.5%
(e) None of the above

Q5. How much lakh crore of the gross GST revenue is collected in the month of September 2022?
(a) Rs.1,47,686 crore
(b) Rs.1,27,686 crore
(c) Rs.1,17,686 crore
(d) Rs.1,97,686 crore
(e) None of the above

Q6. Data released by the National Statistics Office showed consumer price index-based inflation (CPI) in September rising from a year ago. At what percent India’s retail inflation accelerated in the month of September 2022?
(a) 6.9%
(b) 8.32%
(c) 7.41%
(d) 5.9%
(e) None of the above

Q7. Due to NPCI International Payments Ltd (NIPL) and Worldline established a corporation, Indians are able to pay using UPI ((United Payments Interface) in which of the following region?
(a) North America
(b) Europe
(c) Australia
(d) African countries
(e) None of the above

Q8. The World Bank cut its 2022-23 (FY23) real gross domestic product (GDP) growth forecast for India to what percent?
(a) 4.5%
(b) 7.5%
(c) 6.5%
(d) 5.5%
(e) None of the above

Q9. According to data from the Centre for Monitoring Indian Economy (CMIE), India’s unemployment rate has drastically dropped to how much per cent in September due to an increase in labour participation in the rural and urban areas?
(a) 6.43%
(b) 8.83%
(c) 12.20%
(d) 3.48%
(e) None of the above

Q10. Which of the following union minister has expressed confidence that the nation will reach its goal of 2 trillion USD in products and services exported by 2030?
(a) Nirmala Sitharaman
(b) Piyush Goyal
(c) Nitin Gadkari
(d) Mansukh Mandaviya
(e) None of the above

Solutions

S1. Ans(d)
Sol. The International Monetary Fund (IMF), in its latest World Economic Outlook report, cut its forecast for India’s gross domestic product (GDP) growth in financial year 2022-23 (FY23) by 60 basis points (bps) to 6.8 per cent.

S2.Ans (c)
Sol. India’s current account deficit (CAD), a key indicator of balance of payment of a country, has widened to $23.9 billion, which is 2.8% of the GDP, in the first quarter of the current financial year 2022-23.

S3. Ans(a)
Sol. The gross direct tax collections has increased by over 23 per cent to eight lakh ninety eight thousand crore rupees in the current financial year as compared to last year.

S4.Ans (b)
Sol. India’s economic growth is expected to decline to 5.7 per cent this year from 8.2 per cent in 2021, citing higher financing cost and weaker public expenditures, according to the forecast by the United Nations Conference on Trade and Development (UNCTAD) Trade and Development Report 2022.

S5. Ans(a)
Sol. The gross GST revenue collected in the month of September 2022 is ₹ 1,47,686 crore of which CGST is ₹ 25,271 crore, SGST is ₹ 31,813 crore, IGST is ₹ 80,464 crore.

S6. Ans(c)
Sol. India’s retail inflation accelerated to 7.41 per cent in September from a year ago on higher food and energy costs, the highest since April and above the upper end of the RBI’s 2-6 per cent tolerance band in each month this year.

S7. Ans(b)
Sol. Pay in Europe using UPI soon: NPCI International Payments Ltd (NIPL) and European payment services provider Worldline established a corporation due to which Indians will soon be able to make payments through UPI (United Payments Interface) across Europe.

S8. Ans(c)
Sol. The World Bank cut its 2022-23 (FY23) real gross domestic product (GDP) growth forecast for India to 6.5%, from an earlier estimate of 7.5%, while warning that spillovers from Russia’s invasion of Ukraine and global monetary tightening will weigh on the economic outlook.

S9. Ans(a)
Sol. India’s unemployment rate has drastically dropped to 6.43 per cent in September due to an increase in labour participation in the rural and urban areas, according to data from the Centre for Monitoring Indian Economy (CMIE).

S10. Ans(b)
Sol. Piyush Goyal, the minister of commerce and industry, expressed confidence that the nation will reach its goal of 2 trillion USD in products and services exported by 2030.