ECO | MCQs

Explanation

Know about Federal Budget 2024-25

Total outlay: Rs18.877 trillion

FBR Tax revenue target: Rs13 trillion

GDP growth target: 3.6 percent

Defence: Rs. 2.122 trillion

Salaries of BPS-1 to BPS-16 employees increased: 25 percent

Salaries of BPS-17 & above: 22 percent

Trade deficit: $25.3 billion

Exports estimation: $32.7 billion

Civil administration expenditures: Rs839 billion

Pensions: Rs1.014 trillion

Electricity/gas subsidy: Rs1.363 trillion

Energy sector: Rs253 billion

Water resources: Rs206 billion

IT sector: Rs79 billion

Minimum wages in the private sector: Rs36,000 per month

Funds for Benazir Income Support Programme: Rs593 billion

Inflation expectation: 12%

Presented by: Muhammad Aurangzeb (Finance Minister)

Date: 12 June 2024

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Explanation

In April 2024, Zimbabwe introduced a new gold-backed currency called ZiG to tackle inflation.

ZiG stands for "Zimbabwe Gold"

The ZiG replaces a Zimbabwean dollar, the RTGS, that had lost three-quarters of its value so far

Explanation

Ibn Khaldun (d. 1406 CE) was a renowned Islamic scholar, historian, and economist.

He is widely recognized as one of the founders of modern economics.

His work, "The Muqaddimah" (The Prolegomena), is considered a seminal text in the field of Islamic economics.

Explanation

The loans comprise $0.30 billion in program lending, $1.01 billion from project lending, and $3 million from grants.

The report released: 25th April 2022

Pakistan become the largest recipient of the Asian Development Bank(ADB) loans for the year 2022.

This report was released in April 2023

Pakistan received 5.58 billion US dollars in 2022.

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Explanation

 A lack of democracy in the nation prevents citizen-oriented development. 

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RY 23-12-2022

Explanation

The Fifth Five-Year Plan (1978–83) was an attempt to stabilise the economy and improve the standard of living of the poorest segment of the population.

Increased defense expenditures and a flood of refugees to Pakistan after the Soviet invasion of Afghanistan in December 1979, as well as the sharp increase in international oil prices in 1979-80, drew resources away from planned investments .

Explanation

Explanation

Prime Minister Shehbaz Sharif on 31 October 2022 announced a special package of Rs 1,800 billion to promote the agriculture sector. 

Explanation

The government on 07-03-2022 approved Rs 303 billion worth of a supplementary budget to cover the financing cost of a series of measures – Rs5 per unit cut in electricity rates, partial payments to the oil industry for a price freeze on petroleum products and debt servicing of Naya Pakistan Certificates.

Explanation

In terms of Section 24, State Bank of Pakistan has the sole right to issue banknotes.

The State Bank of Pakistan introduced the first emergency issues in the denominations of 5, 10, and 100 rupees, printed by De La Rue & Company between 1948 and 1960.