Economy Current Affairs Quiz/Questions-Answers July 2012, July 23-July 29

July end 2012 saw the Reserve Bank of India (RBI) review its April-June quarter monetary policy. The first quarter of the financial year (April-June 2012) is over. The performance of the respective industries is being judged on the basis of the figures that have come in July 2012. Jagranjosh.com team which works on Economy Current Affairs have prepared a set of 5 economy quizzes to help josh readers update the economy current affairs knowledge

1. India’s central bank the Reserve Bank of India (RBI) in its April-June quarter monetary policy review left the key policy rates unchanged. Which of the following facts are not true with regards to this?
1. The repo rate remained unchanged at 8 percent while the reverse repo rate remained stable at 7 percent
2. Cash Reserve Ratio (CRR) - the amount of total deposits that banks are required to keep with the central bank - also remained unchanged at 5.25
3. The statutory liquidity ratio (SLR) - the percentage of total deposits that banks need to invest in the government bonds was changed to 23 percent from the erstwhile 24 percent
4. RBI also cut its economic growth outlook for the fiscal year 2012-13 to 6.5 percent, from the earlier projection of 7.3 percent
a. 1 & 3
b. Only 2
c. 3 & 4
d. Only 4
Answer: (b)

2. As per the a report by Ernst & Young and Event & Entertainment Management Association (EEMA), which interviewed CEOs of 32 Indian events and activation companies, the organised events and activation market in India is expected to grow by what percent  over the next two years, powered by weddings, sports and higher spends on below-the-line promotional events?
a.    50%
b.    55%
c.    53.33%
d.    46%
Answer: (a)

3. According to the quarterly report on ‘Public debt management’ prepared by the Department of Economic Affairs (DEA) under the Ministry of Finance, India’s public debt rose by what per cent to 3752576 crore rupees during the first quarter (April-June) of fiscal year 2012?
a.    4%
b.    4.9%
c.    5.6%
d.    7.1%
Answer: (b)

4. Exports from Special Economic Zones (SEZs) grew by what per cent to Rs 118321.56 crore during the first quarter (April-June) of the fiscal 2012-13?
a.    51%
b.    57.5%
c.    64%
d.    73%
Answer: (c)

5. The Union government on 30 July 2012 introduced national certification standards for organic textiles to boost the demand for organic textiles in major markets, including Europe and Japan. With respect to the above statement which of the following is not true?
1.    The Indian Standards for Organic Textiles (ISOT) launched by Commerce, Industry and Textiles Minister Anand Sharma  is to be included under the National Programme for Organic Productions (NPOP)
2.    The NPOP includes norms for organic production and processing of agriculture crops along with certification standards
3.    In 2011 India exported certified organic products to various countries in Europe, Asia and the US worth Rs 2000 crore
4.    India with the introduction of the national certification standards  thus took over the long-standing position of the Global Organic Textiles standards (GOTS), which are private standards prevailing in the organic textiles industry
a. 1 & 4
b. 2 & 3
c. Only 4
d. Only 3
Answer: (d)

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