Economy & Business MCQs

Global economic headwinds typically refer to adverse external factors such as geopolitical tensions, high inflation in major economies, and disruptions in global supply chains that can impede economic growth.

India's economic resilience is largely driven by strong domestic demand and increased government capital expenditure, which helps offset the impact of global slowdowns.

To compete globally, Indian products need to meet or exceed international quality and standards, coupled with innovation and technological advancement.

Export promotion schemes typically aim to make Indian goods more competitive globally by offering financial and logistical support to exporters.

The name 'Make for Global' and the description 'export promotion scheme' clearly indicate that the primary objective is to increase India's exports.

Easing inflationary pressures means that the rate of increase in the general price level is slowing down, although prices may still be rising.

Maintaining the repo rate, especially when inflation is easing but still a concern, suggests the RBI is adopting a 'neutral' or 'calibrated' stance, aiming to support growth without reigniting inflation.

The repo rate is the rate at which the RBI lends money to commercial banks. By adjusting this rate, the RBI influences borrowing costs and thus controls inflation and liquidity.

A robust manufacturing sector creates employment opportunities across various skill levels and helps diversify the economy away from over-reliance on other sectors like agriculture or services.

The Index of Industrial Production (IIP) measures the growth rates in different industry groups of the economy, including manufacturing, mining, and electricity, thus directly reflecting industrial output.