Economy & Business MCQs

The RBI's enhanced digital lending framework primarily aims to protect consumers from unethical lending practices, ensure transparency, and promote responsible lending by regulated entities and their lending service providers.

The current base year for calculating India's GDP is 2011-12. The base year is periodically revised to reflect structural changes in the economy.

Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.

The National Statistical Office (NSO), under the Ministry of Statistics and Programme Implementation (MoSPI), is responsible for collecting, compiling, and releasing GDP data in India.

The Monetary Policy Committee (MPC) is mandated to meet at least four times a year, but typically meets six times a year, i.e., bi-monthly, to review the monetary policy.

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

The primary objective of the Monetary Policy Committee (MPC) of the Reserve Bank of India is to maintain price stability while keeping in mind the objective of growth. The inflation target is currently set at 4% with a tolerance band of +/- 2%.

Companies invest heavily in infrastructure when they anticipate future economic expansion, increased demand for goods and services, and a favorable environment for long-term returns on their capital.

Infrastructure projects are labor-intensive and require a vast supply chain, leading to significant job creation and growth in related sectors like cement, steel, and transportation.

Government policies, incentives, and public-private partnerships are crucial for encouraging corporate investment in infrastructure projects, which often require significant capital and long gestation periods.