Economy & Business MCQs

As per the revised MSME classification effective from July 1, 2020, a 'Micro' enterprise is defined as one with an investment of up to ₹1 crore and turnover of up to ₹5 crore.

Export promotion schemes often provide financial assistance for activities like participation in international trade fairs, product development, quality certification, and market research to help MSMEs access global markets and build capacity.

Export promotion schemes for MSMEs primarily aim to help them overcome challenges in international markets, thereby enhancing their global competitiveness and increasing India's overall exports.

The Repo Rate is the interest rate at which the Reserve Bank of India provides liquidity to commercial banks against the collateral of government securities.

The primary objective of the MPC is to maintain price stability while keeping in mind the objective of growth. It is mandated to keep inflation within a target band.

The Monetary Policy Committee (MPC) consists of six members: three officials from the RBI and three external members nominated by the Government of India.

Investment in Green Hydrogen is crucial for India to achieve its ambitious targets for energy independence, reduce carbon emissions, and transition towards a sustainable, green economy.

Green Hydrogen is produced by splitting water into hydrogen and oxygen using an electrolyzer powered by renewable energy sources like solar or wind, making it a zero-carbon emission process.

A leading Indian conglomerate has announced a significant investment of INR 20,000 Crore in the Green Hydrogen sector.

The MPC decided to maintain the status quo on the repo rate primarily due to persistent inflation concerns, aiming to bring inflation within the target range.