Economy & Business MCQs

The Index of Industrial Production (IIP) is compiled and published by the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation.

The Governor of the Reserve Bank of India serves as the ex-officio Chairperson of the Monetary Policy Committee.

The MPC consists of six members: three from the RBI and three appointed by the Central Government.

The RBI's Monetary Policy Committee has kept the repo rate unchanged at 6.5% to ensure inflation aligns with the target while supporting growth.

Digital payments make financial services more accessible to a larger population, leading to greater financial inclusion. Digital trails also enhance transparency and reduce the scope for illicit transactions.

Government policies like demonetization, promotion of UPI, and efforts towards financial inclusion have significantly boosted digital payment adoption in India.

High growth in digital payments directly correlates with more individuals and businesses using platforms like UPI, credit/debit cards, net banking, and mobile wallets for transactions.

Export promotion schemes are designed to enhance the competitiveness of Indian goods and services in international markets, thus benefiting sectors that are already export-oriented or have the potential to become so.

Export promotion schemes often provide support in areas like financing, market intelligence, trade facilitation, and reducing compliance burdens to make exports more competitive.

The name 'Niryat Sahyog Yojana' itself suggests 'Export Cooperation Scheme', indicating its focus on boosting India's export performance.