IMF’s World Economic Outlook: Highlights for India
The International Monetary Fund (IMF) recently released its updated World Economic Outlook (WEO), offering fresh projections and analysis on global growth patterns. The report includes insights into India’s growth trajectory, macroeconomic trends, inflation, and risks amid global uncertainties like trade tensions and commodity volatility (The Indian Express).
MCQs:
1. The IMF’s World Economic Outlook report primarily covers:
A) National budgets
B) Global economic projections
C) Historical trade data
D) Climate change assessments
Answer: B) Global economic projections
2. The WEO is published by which international body?
A) World Bank
B) United Nations
C) IMF
D) WTO
Answer: C) IMF
3. According to the WEO, important considerations for India’s economy include:
A) Transport infrastructure
B) Growth trajectory and inflation
C) Education policies
D) Cultural exports
Answer: B) Growth trajectory and inflation
Modi Government Resists U.S. Tariff Pressure over Russian Oil Imports
India continues to defy U.S. pressure to curb its imports of discounted Russian oil, despite threats of heavy tariffs. The government argues that securing affordable energy is critical for economic stability and sovereignty. At the same time, U.S. lawmakers warn that these unilateral actions may jeopardize decades of strategic ties. Meanwhile, U.S. tariffs targeting Indian exports are already impacting several labor-intensive sectors (The Wall Street Journal, Reuters, The Economic Times).
MCQs:
1. India is being pressured by the U.S. to reduce imports of oil from which country?
A) Saudi Arabia
B) Russia
C) Iran
D) Venezuela
Answer: B) Russia
2. The U.S. response to India’s policy includes:
A) Diplomatic praise
B) Increased tariffs
C) Energy aid
D) Military cooperation
Answer: B) Increased tariffs
3. The sectors potentially affected by U.S. tariffs on Indian exports include:
A) Technology only
B) Heavy industries
C) Labor-intensive sectors like garments and electronics
D) Oil & gas
Answer: C) Labor-intensive sectors like garments and electronics
India: Economics “Not Dead but in ICU,” Says Abhishek Banerjee
Trinamool Congress leader Abhishek Banerjee sharply criticized the incumbent government’s handling of the economy, stating it is “not dead but in the ICU.” He blamed flawed policies, U.S. tariffs, and diplomatic missteps for dampening export sectors and escalating job losses. He also alleged undue interference by the Election Commission to favor the ruling party ahead of elections (The Times of India).
MCQs:
1. Who described India’s economy as “in the ICU”?
A) PM Modi
B) Abhishek Banerjee
C) U.S. President
D) IMF Chief
Answer: B) Abhishek Banerjee
2. One of the factors blamed for economic difficulties includes:
A) Inflation control
B) U.S. tariffs
C) Foreign investment
D) Digitalization
Answer: B) U.S. tariffs
3. The allegation involving the Election Commission suggested:
A) Promoting independent oversight
B) Colluding to benefit the ruling party
C) Expanding regional representation
D) Holding simultaneous polls
Answer: B) Colluding to benefit the ruling party
