QOTD-GK-Which Department of Union Ministry of Finance prepares ‘Economic Survey of India’?

2019-07-05 | Team PendulumEdu


   A. Department of Expenditure

   B. Department of Disinvestment

   C. Department of Economic Affairs

   D. Department of Financial Services

Correct answer: (C)

Explanation: ‘The Economic survey of India’ is prepared by the Union Finance Ministry’s Department of Economic Affairs. Economic survey is presented by the Union Finance Minister before laying down the Union budget in the Parliament.

The Survey is prepared under the observance of Chief Economic advisor. It includes details regarding the developments in Indian Economy in the outgoing financial year and contains a review of the Indian Economic development that took place during the past 12 months.

The 2018-2019 Economic Survey of India was tabled in the parliament by Union Finance and Corporate Affairs Minister, Nirmala Sitharaman on 4th July 2019.

Some important highlights of the Economic Survey of India 2018-2019 are:

  • The survey highlights the aim of becoming a USD 5 trillion economy by 2024-25 with a real GDP growth rate of 8%.
  • The survey projects that the real GDP growth for the year 2019-20 will be at 7 %.
  • Acreage in 2018-19 for the Rabi crop was marginally lower than last year, which affected agricultural performance.
  • On the external front, the current account deficit (CAD) increased from 1.9 % of GDP in 2017-18 to 2.6 % in April-December 2018.
  • The trade deficit increased from US$ 162.1 billion in 2017-18 to US$ 184 billion 218-19.
  • Rupee depreciated by 7.8 % vis-à-vis UD dollar, 7.7 % against Yen, and 6.8 % against Euro and Pound Sterling in 2018-19.
  • Net Foreign Direct Investment (FDI) inflows grew by 14.2 % in 2018-19.
  • Real growth in ‘Agriculture & allied’ sector was lower in 2018-19 at 2.9 %, after two years of good agriculture growth.

Hence, c is the correct answer.

This type of question is asked in UPSC Civil Services, State PCS, SSC CGL exams.

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