2022
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rs. 1, 25, 000 crore
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Rs. 1, 50, 000 crore
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Rs. 1, 75, 000 crore
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Rs. 1, 00, 000 crore
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Detailed explanation-1: -Press Releases. It has been decided, in consultation with the Government of India, that the limit for Ways and Means Advances (WMA) for the first half of the financial year 2022-23 (April 2022 to September 2022) will be ₹1,50,000 crore.
Detailed explanation-2: -To take care of temporary mismatches in Government accounts, the Reserve Bank of India has fixed the Ways and Mean Advances (WMA) limit for H2 of FY 2022-23 at ₹50,000 crore.
Detailed explanation-3: -The Monetary Policy Committee (MPC) met on 5th, 6th and 7th December 2022. Based on an assessment of the macroeconomic situation and its outlook, the MPC decided by a majority of 5 members out of 6 to increase the policy repo rate by 35 basis points to 6.25 per cent, with immediate effect.
Detailed explanation-4: -The RBI raised the Repo Rate by 35 basis points on December 7, 2022, bringing the rate up to 6.25% and marking the fourth hike or Repo Rate increase in 2022. Earlier RBI increased the Repo Rate by 50 basis points to 5.9% on September 30, 2022.
Detailed explanation-5: -"The WMA limit for State Governments/UTs will be Rs 47,010 crore,” it said. These norms will be effective from April 1, 2022 and are subject to review.