Multiple Choice Questions (MCQ Quiz) on Economic Survey 2022-23 with answers and explanation. The MCQ based on traditional, contemporary and current affairs parts of Indian Economy, Indian Constitution, which is referred from the NCERT, News Papers and websites like PIB and others. It is useful for various competitive exams like UPSC, UPPSC, BPSC, IAS/PCS and others.
MCQ on Economic Survey 2022-23
Q 1. According to Economic Survey 2022-23, what is
real terms economic growth in 2022-23?
a) 6 Percent
b) 6.5 Percent
c) 7 Percent
d) 7.5 Percent
Answer (c)
Explanation:
According to Economic Survey 2022-23, the Indian economy
is expected to grow at 7% in real terms for 2022-23.
Q 2. The term ‘Reverse Flipping’, recently used in
economic survey 2022-23, refers to:
a) Companies showing profits in offshore location to evade taxation
b) Companies misusing inverted duty structure
c) Indian Companies transferring ownership to an overseas entity
d) Companies shifting their domicile back to India
Answer: (d)
Explanation:
Reverse flipping is the method of
shifting a company's domicile back to India after an earlier flip.
Companies reverse flip as a result of
easier access to private equity and venture capital funding, modifications to
the round-tripping rules, and the maturing Indian capital market.
Q 3. Consider the following statements regarding inflation
in economic survey:
1. Retail Inflation rate is estimated at 6.8 percent
in 2022-23.
2. Whole sale Inflation rate is estimated at 11.5 percent
in 2022-23.
Which of the statements given above is/are correct?
a) 1 only
b) 2 only
c) 1 and 2
d) Neither 1 nor 2
Answer (c)
Explanation: (in Pic)
Q 4. In the context of the growth potential of
physical and digital infrastructure, consider the following statements:
1. Highest ever UPI transaction in December 2022.
2. About double capacity of major ports in 8 years.
3. Open network for digital commerce in pipeline.
4. PM Gatishakti Master Plan seamless movement of
people only.
Which of the statements given above are correct?
a) 1 and 2 only
b) 1, 2 and 3 only
c) 2, 3 and 4 only
d) 1, 2, 3 and 4
Answer (b)
Explanation: (in Pic)
Q 5. What is expected range India’s of GDP in 2023-24
(economic survey 2022-23)?
a) 5.7-6.7 percent
b) 6-6.8 percent
c) 6.7-7.2 percent
d) 7-7.8 percent
Answer (b)
Explanation:
According to Economic Survey 2022-23,
India’s GDP is expected to be in the range of 6-6.8%
in 2023-24.
Q 6. Under Economic survey 2022-23, what is expected
fiscal deficit in 2023-24?
a) 5.4 Percent
b) 6.4 Percent
c) 7.4 Percent
d) 7.7 Percent
Answer (b)
Explanation:
Fiscal deficit is expected to reach 6.4% of GDP in 2023-24.
Q 7. With reference to Indian economy, consider the
following statements:
1. It is 5th largest service exporter in
the world.
2. India was the highest recipient of remittances in
the world in 2022.
Which of the statements given above is/are not correct?
a) 1 only
b) 2 only
c) 1 and 2
d) Neither 1 nor 2
Answer (a)
Explanation:
India is 7th largest service exporter in
the world.
According to World Bank, India was the highest
recipient of remittances in the world in 2022.
Q 8. In context of India’s forex reserve, which one of
the following options is incorrect?
a) Foreign Exchange reserve of 2021-22 was more than
forex reserve of 2020-21
b) Foreign Exchange reserve of 2020-21 was more than
forex reserve of 2019-20
c) Foreign Exchange reserve of 2022-23 is expected to more
than forex reserve of 2021-22
d) None of these
Answer (c)
Explanation:
Foreign Exchange reserve of 2022-23 is expected to $
563 billion, which would be less than forex reserve of 2021-22 ($ 607 billion).
Q 9. Consider the following statements regarding
social infrastructure and employment:
1. More than 14,500 PM Schools to be built in next five
years.
2. Urban employment more than pre-pandemic level.
Which of the statements given above is/are correct?
a) 1 only
b) 2 only
c) 1 and 2
d) Neither 1 nor 2
Answer (a)
Explanation:
Over 14,500 PM Schools to be built in between FY23 to
FY27.
Urban employment nearing pre-pandemic level.
Q 10. Consider the following pairs:
Sector Growth Rate (2022-23)
(1) Agriculture 3.5
(2) Industry 4.1
(3) Service 2.1
How many
pairs given above are correctly matched?
(a) Only one pair
(b) Only two pairs
(c) Only three pairs
(d) All four pairs
Answer (b)
Q 11. Who prepared economic survey?
a) Department of Economic Affairs
b) Finance Commission
c) RBI
d) Public Account Committee
Answer (a)
Explanation:
Economic Survey annually prepared by Economic Division
of the Department of Economic Affairs (DEA), Ministry of Finance.
Under the guidance of the Chief Economic Advisor (CEA).
Q 12. With reference to India’s situation in Human
Development Parameters:
1. 26.4% of the population in India are
multi-dimensionally poor.
2. India improved rank (132) in the HDI report 2021/22.
Which of the statements given
above is/are correct?
a) 1 only
b) 2 only
c) 1 and 2
d) Neither
1 nor 2
Answer
(b)
Explanation:
According to UNDP’s report, 16.4% of the population in
India are multi-dimensionally poor.
India ranked 132 out of 191 countries in the 2021/2022
HDI report.
Q 13. Consider the following statements regarding India’s
current employment trend:
1. Unemployment rate reducing from 8.3% to 7.2% by
Mid-2022.
2. Worker population ratio is improving.
3. The demanding work under MGNREGS was seen to be
around pre-pandemic levels.
Which of the statements given above are correct?
a) 1 and 2 only
b) 1 and 2 only
c) 2 and 3 only
d) 1, 2, and 3
Answer (d)
Q 14. Which one of the following is not correct with
respect to Ensuring School Education:
a) The enrolments increased at the Pre-Primary level.
b) School dropout rates steady decline at
all levels.
c) Pupil-teacher ratio improved from 34 in FY13 to
26.2 in FY22 at primary level.
d) Female enrolment has increased to 2.0 crore in FY21.
Answer (a)
Explanation:
All levels of education—Primary, Upper-Primary,
Secondary, and Higher Secondary—saw a growth in enrollment, with the exception
of Pre-Primary (reduced from 1.1 crore to 1 crore in FY22).
Q 15. In the context of Health, consider the following
statements:
1. Central and State Government's budgeted expenditure
on health sector is improving.
2. Infant Mortality Rate (IMR) shows study decline.
3. Ayushman Bharat beneficiaries have reached nearly 32
crores.
Which of the statements given above are correct?
a) 1 and 2 only
b) 1 and 2 only
c) 2 and 3 only
d) 1, 2, and 3
Answer (b)
Explanation:
Nearly 22 million people have benefited from Ayushman
Bharat, and more than 1.54 lakh Health and Wellness Centers have been
operationalized nationwide.
Q 16. Which has first declared Swachh, Sujal
Pradesh?
a) Andaman & Nicobar Islands
b) Lakshadweep Islands
c) Puducherry
d) Chandigarh
Answer (a)
Explanation:
Andaman & Nicobar Islands is now the first Swachh,
Sujal Pradesh because all of its villages have been declared as ODF plus
models.
Q 17. JALDOOT App related to:
a) Provide warning against flood.
b) Provide warning against flood at coastal zones.
c) Provide information for flood intensity.
d) Provide information for wells water level.
Answer (d)
Q 18. India declared the Net Zero Pledge to achieve a net
zero emissions goal by:
a) 2045
b) 2050
c) 2060
d) 2070
Answer (d)
Q 19. Consider the following statements regarding
environmental issues:
1. India achieved the goal of doubling the tiger numbers,
four years before the targeted year 2022.
2. A ban was imposed on use of identified single-use
plastic items.
Which of the statements given above is/are correct?
a) 1 only
b) 2 only
c) 1 and 2
d) Neither 1 nor 2
Answer (c)
Q 20. Which sector is highest FDI Equity Inflows during
April-September 2022?
a) Service
b) Software and Hardware
c) Trading
d) Automobiles
Answer (b)
Q 21. Consider the following statements regarding Balance
of Payment:
1. The Current Account Deficit (CAD) has increased due
rise in oil prices.
2. The surplus of the capital account was higher than
the CAD.
Which of the statements given above is/are correct?
a) 1 only
b) 2 only
c) 1 and 2
d) Neither 1 nor 2
Answer (a)
Explanation:
The rise in oil prices has caused the Current Account
Deficit (CAD) to expand.
The capital account's surplus was less than the CAD,
which caused the forex reserves to be depleted.
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