India Eases World's Largest Lockdown to Revive Growth

The video discusses the impact of COVID-19 on India's economy, highlighting the national lockdown's effect on GDP and the Reserve Bank of India's monetary measures. It covers the government's limited fiscal response, focusing on social welfare and small business support. The video also addresses unemployment, labor migration to rural areas, and the potential benefits of lower oil prices for economic recovery.

What was the initial doubling rate of COVID-19 cases in India before the national lockdown?

• 3 days

• 1 day

• 7 days

• 5 days

What percentage of the economy was locked down before the government began reopening?

• 65%

• 30%

• 80%

• 50%

What significant action did the Reserve Bank of India take to support the economy?

• Raised interest rates

• Increased taxes

• Cut the repo rate

• Reduced government spending

What is one challenge faced by the Reserve Bank of India in implementing its stimulus package?

• Lack of foreign investment

• Dependence on banks for transmission

• High inflation rates

• Excessive government debt

What is the government's primary focus in its fiscal response to the pandemic?

• Social welfare for displaced labor

• Reducing taxes

• Building infrastructure

• Increasing exports

What potential opportunity is available for displaced urban labor in rural India?

• Tech industry jobs

• Agricultural employment

• Tourism sector roles

• Manufacturing positions

How does a lower oil price benefit India's economy?

• Increases inflation

• Reduces current account deficit

• Decreases tax revenue

• Slows economic growth