MCQ Test: US Imposes 50% Tariff on Indian Goods: Economic Impact and India's Response

1. On what date did the United States' 50% tariff on Indian goods become effective?

A) August 27, 2024 B) August 27, 2025 C) September 1, 2025 D) October 15, 2024

2. What is cited as the primary reason for the United States imposing a 50% tariff on Indian goods?

A) India's trade surplus with the US B) India's discounted imports of Russian crude oil C) India's intellectual property rights violations D) India's restrictions on US agricultural imports

3. Which of the following Indian sectors is NOT explicitly mentioned as being particularly vulnerable to the new US tariffs?

A) Textiles B) Pharmaceuticals C) Gems and jewellery D) Leather

4. The trade estimates suggest that the new US tariffs could affect approximately how much worth of Indian exports?

A) ₹25,000 crore B) ₹35,000 crore C) ₹45,000 crore D) ₹55,000 crore

5. Economists predict India's economic growth could slow by what range this fiscal year due to the tariffs?

A) 0.1-0.2% B) 0.3-0.8% C) 0.9-1.2% D) 1.5-2.0%

6. What is the estimated number of jobs at risk in India in the near term due to the elevated tariffs?

A) Up to 500,000 B) Up to 1 million C) Up to 1.5 million D) Up to 2 million

7. Despite the immediate impact of tariffs, what real GDP growth forecast has the Reserve Bank of India (RBI) maintained for FY2025-26?

A) 5.8% B) 6.0% C) 6.5% D) 7.0%

8. Which of the following is NOT mentioned as a crucial cushion against the tariff shock for India's economy?

A) Strong domestic demand B) Robust macroeconomic fundamentals C) Significant foreign aid D) Diversified export base

9. What 'mantra' is the Indian government reportedly pushing in response to the US tariffs, as called for by Prime Minister Narendra Modi?

A) 'Make in India' B) 'Digital India' C) 'Swadeshi' and 'vocal for local' D) 'Skill India'

10. Which industry body is advocating for a one-year moratorium on both principal and interest payments for exporters?

A) Confederation of Indian Industry (CII) B) Federation of Indian Chambers of Commerce & Industry (FICCI) C) Federation of Indian Export Organisations (FIEO) D) NASSCOM

11. India aims to become a $7.1 trillion economy by which year?

A) 2028 B) 2029 C) 2030 D) 2032

12. What was the GVA growth recorded by India's manufacturing sector in FY2024?

A) 9.5% B) 10.25% C) 11.89% D) 12.5%

13. Employment in industries in India rose to how many crore in FY2024?

A) 1.50 crore B) 1.65 crore C) 1.84 crore D) 2.00 crore

14. According to the text, the US decision to impose tariffs is seen by some as primarily what kind of maneuver?

A) Purely economic B) Humanitarian C) Geopolitical D) Environmental

15. The Commerce Ministry is holding meetings with exporters to discuss strategies related to:

A) Import substitution B) Shipment diversification C) Domestic market expansion D) Technology transfer

ALL TN Comp Exams Prep

US Imposes 50% Tariff on Indian Goods: Economic Impact and India's Response

Your Score: 0 / 0

1. On what date did the United States' 50% tariff on Indian goods become effective?

2. What is cited as the primary reason for the United States imposing a 50% tariff on Indian goods?

3. Which of the following Indian sectors is NOT explicitly mentioned as being particularly vulnerable to the new US tariffs?

4. The trade estimates suggest that the new US tariffs could affect approximately how much worth of Indian exports?

5. Economists predict India's economic growth could slow by what range this fiscal year due to the tariffs?

6. What is the estimated number of jobs at risk in India in the near term due to the elevated tariffs?

7. Despite the immediate impact of tariffs, what real GDP growth forecast has the Reserve Bank of India (RBI) maintained for FY2025-26?

8. Which of the following is NOT mentioned as a crucial cushion against the tariff shock for India's economy?

9. What 'mantra' is the Indian government reportedly pushing in response to the US tariffs, as called for by Prime Minister Narendra Modi?

10. Which industry body is advocating for a one-year moratorium on both principal and interest payments for exporters?

11. India aims to become a $7.1 trillion economy by which year?

12. What was the GVA growth recorded by India's manufacturing sector in FY2024?

13. Employment in industries in India rose to how many crore in FY2024?

14. According to the text, the US decision to impose tariffs is seen by some as primarily what kind of maneuver?

15. The Commerce Ministry is holding meetings with exporters to discuss strategies related to:

US Imposes 50% Tariff on Indian Goods: Economic Impact and India's Response

Your Score: 0 / 0

1. On what date did the United States' 50% tariff on Indian goods become effective?

2. What is cited as the primary reason for the United States imposing a 50% tariff on Indian goods?

3. Which of the following Indian sectors is NOT explicitly mentioned as being particularly vulnerable to the new US tariffs?

4. The trade estimates suggest that the new US tariffs could affect approximately how much worth of Indian exports?

5. Economists predict India's economic growth could slow by what range this fiscal year due to the tariffs?

6. What is the estimated number of jobs at risk in India in the near term due to the elevated tariffs?

7. Despite the immediate impact of tariffs, what real GDP growth forecast has the Reserve Bank of India (RBI) maintained for FY2025-26?

8. Which of the following is NOT mentioned as a crucial cushion against the tariff shock for India's economy?

9. What 'mantra' is the Indian government reportedly pushing in response to the US tariffs, as called for by Prime Minister Narendra Modi?

10. Which industry body is advocating for a one-year moratorium on both principal and interest payments for exporters?

11. India aims to become a $7.1 trillion economy by which year?

12. What was the GVA growth recorded by India's manufacturing sector in FY2024?

13. Employment in industries in India rose to how many crore in FY2024?

14. According to the text, the US decision to impose tariffs is seen by some as primarily what kind of maneuver?

15. The Commerce Ministry is holding meetings with exporters to discuss strategies related to:

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