Shit question.
It says increasing current -- induced current depends on the RATE at which flux changes. If current increases at a steady RATE, induced current would be constant. If current INCREASES at a DECREASING rate, then the answer will be different..
For direction, use RHG rule. Current is going clockwise, which creates mag field into page inside ring. Seeing as changing mag field is into page, the current in inner ring will be in such a direction to oppose the change, using RHG rule, this is flux out of page, hence anti-clockwise current.