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GK Quiz on Economic Survey 2021

Answer the following questions related to the economic survey. These questions have been made keeping in mind the level of information any competitive examinations aspirant would require. 

  1. When is the economic survey generally tabled in the Parliament?
  1. A working day before the budget
  2. A working day after the budget
  3. A week before the budget
  4. Anytime in the year

Ans. a

Explanation:  Union Finance Minister Nirmala Sitharaman tabled Economic Survey 2020-21 in the Parliament on January 29, 2021.  The survey is generally presented a day before the Union Budget.

  1. What is the real growth rate for FY21 as per the survey?
  1. 7.7% MoSPI
  2. -7.7% MoSPI
  3. 11.5% MoSPI
  4. None of the above 

Ans. b

Explanation: The real growth rate for FY21 has been taken as -7.7% (MoSPI) in Economic Survey 2020-21 and real growth rate for FY22 is assumed as 11.5 % based on IMF estimates.

  1. What was the theme of the economic survey this year?
  1. COVID-19 warriors
  2. COVID 19 Pandemic
  3. Doctors and Health Workers
  4. None 

Ans. a

Explanation: The Economic Survey 2020-21 has been dedicated to all the COVID-19 warriors, who have really helped in upholding India

  1. Choose the correct statement about the Economic Survey 2021

i) The economic survey is being delivered in an e-book format. 

ii) The Finance Ministry has also launched an official Economic Survey app this time 

  1. Only i
  2. Only ii
  3. Both i and ii
  4. None of the above 

Ans. c

Explanation: This year's economic survey is being delivered in an e-book format. The Finance Ministry has also launched an official Economic Survey app for smooth access to the document.

Also Read| GK Question and Answers on Union Budget 2021

  1. India’s real GDP is projected to record how much growth in FY2021-2022?
  1. 11.0 per cent
  2. 13 per cent
  3. 14 per cent
  4. 12.7 per cent

Ans. a

Explanation: As per the Economic Survey 2020-21, India’s real GDP is expected to record 11.0% growth in FY 2021-22 and nominal GDP to grow by 15.4% – the highest since independence.

  1. As per the economic survey, Choose the correct statement

i) The Economic Survey 2021 showed an increase in public health spending from 1% to 2.5% of GDP

ii) The survey noted that the emphasis on the National Health Mission must continue 

  1. Only i
  2. Only ii
  3. Both i and ii
  4. None of the above 

Ans. c

Explanation: The Economic Survey 2021 showed that an increase in public health spending from 1% to 2.5% of GDP, as envisaged in National Health Policy-2017 can reduce out-of-pocket spend from 65% to 30% of overall healthcare spending. The annual survey noted that the emphasis on the National Health Mission should continue as it has played a critical role in giving increased access of the poorest to pre-natal & post-natal care, & institutional deliveries.

  1. What kind of economic recovery is India having as per the Economic Survey 2020-21?
  1. U shaped 
  2. V-shaped
  3. K shaped
  4. Horizontal

Ans. b

Explanation: The cover of the Economic Survey 2020-21 shows a v-shaped recovery that has happened in the Indian economy during the last year. The annual document credited the recovery to India’s decision to impose a stringent national lockdown in the early stage of the pandemic. 

  1. Which state as per the Survey has been ranked the lowest performer in cases of COVID 19 recovery and number of deaths due to it?
  1. Uttar Pradesh
  2. Maharashtra
  3. Delhi
  4. Madhya Pradesh

Ans. b

Explanation: The Economic survey team had research to show how much could have been vs what actually happened. The research showed that India has done really well when it comes to the actual number of COVID-19 cases by avoiding around 37 lakh cases and about one lakh deaths. The team, however, ranked Maharashtra as an underperformer both in the number of cases and deaths. 

  1. Regarding the Bare Necessities Index, find the correct statement

i) The economic survey has come up with bare necessities index at rural and urban levels 

ii) It is based on 28 indicators and 4 dimensions

  1. Only i
  2. Only ii
  3. Both i and ii
  4. None of the above 

Ans. a

Explanation: The Economic Survey 2020-21 has constructed a Bare Necessities Index at rural, urban & all India level, with 26 indicators on 5 dimensions- sanitation, water, housing,micro-environment and many other facilities.

  1. What does the Economic Survey mention regarding innovation?

i) India has entered the top 50 innovating countries for the first time 

ii) Government's contribution to R&D expenditure is 3 times the average contributions of the top 10 economies

  1. Only i
  2. Only ii
  3. Both i and ii
  4. None of the above 

Ans. c

Explanation: The Economic Survey 2020-21 noted that India entered the top 50 innovating countries for the first time n 2020. The survey shows that the government contribution to research and development expenditure is 3 times the average contributed by governments in the top 10 economies.

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