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Question

Which of the following are under the 6 Challenges to Global Growth, according to the Economic Survey 2022-23?

1.    Synchronized policy rate hikes by the central banks across the world

2.    Countries slowed cross-border trade as they tried to protect their respective economic space

3.    The loss of education and income-earning opportunities” brought in by the pandemic

A 1 & 2 Correct Answer Incorrect Answer
B 2 & 3 Correct Answer Incorrect Answer
C 1 & 3 Correct Answer Incorrect Answer
D All Correct Answer Incorrect Answer
E None Correct Answer Incorrect Answer

Solution

The two of these challenges are Covid-19 that disrupted economies across the world, and the Russia-Ukraine conflict that impacted supply chains of food, fuel and fertiliser. The third challenge came in the form of synchronised policy rate hikes by the central banks across the world, led by the Federal Reserve, to curb inflation. The fourth challenge came as countries slowed cross-border trade as they tried to protect their respective economic space amid a global stagflation threat, affecting overall growth. The sixth “medium-term” challenge came in the form of “loss of education and income-earning opportunities” brought in by the pandemic.  

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