Current Affairs Quiz — 01 February 2025
Daily news by your exam, state and topic — each with a short summary, key facts and MCQs.
What is the outlay of the Nuclear Energy Mission for research and development of Small Modular Reactors announced in the Union Budget 2025-26?
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Correct answer: D — ₹20,000 crore
PIB (1 Feb 2025): a Nuclear Energy Mission for R&D of Small Modular Reactors with an outlay of ₹20,000 crore will be set up.
Under the Nuclear Energy Mission announced in the Union Budget 2025-26, at least 5 indigenously developed Small Modular Reactors are to be operational by:
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Correct answer: B — 2033
PIB (1 Feb 2025): at least 5 indigenously developed SMRs will be operationalized by 2033.
Consider the following statements about the Union Budget 2025-26: 1. It said development of at least 100 GW of nuclear energy by 2047 is essential for the energy transition. 2. It proposed amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act for partnership with the private sector. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Budget speech (para 61): at least 100 GW of nuclear energy by 2047 is essential, and the Atomic Energy Act and the Civil Liability for Nuclear Damage Act will be amended for private-sector partnership. Both statements are correct. Answer: Both 1 and 2.
The modified UDAN scheme announced in the Union Budget 2025-26 aims to connect how many new destinations over the next 10 years?
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Correct answer: A — 120
Budget speech: a modified UDAN scheme will enhance regional connectivity to 120 new destinations and carry 4 crore passengers in the next 10 years.
What fiscal deficit target for 2025-26 (as a share of GDP) was announced in the Union Budget presented on 1 February 2025?
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Correct answer: B — 4.4 per cent
Budget speech (para 113): the fiscal deficit for 2025-26 is estimated to be 4.4 per cent of GDP.
According to the Union Budget 2025-26, what is the Revised Estimate of the fiscal deficit for 2024-25?
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Correct answer: C — 4.8 per cent of GDP
Budget speech (para 111): the Revised Estimate of the fiscal deficit is 4.8 per cent of GDP.
What capital expenditure did the Union Budget 2025-26 provide for 2025-26?
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Correct answer: D — ₹11.21 lakh crore
PIB Highlights (1 Feb 2025): capex is ₹11.21 lakh crore (3.1% of GDP). ₹10.18 lakh crore is the 2024-25 Revised Estimate and ₹14.82 lakh crore is gross market borrowings.
Which Budget document is mandated by Article 112 of the Constitution of India?
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Correct answer: A — Annual Financial Statement
Key to Budget Documents 2025-26: the Annual Financial Statement, Demands for Grants and Finance Bill are mandated by Articles 112, 113 and 110(a) respectively; Budget at a Glance is an explanatory document.
Consider the following statements about Union Budget documents: 1. Demands for Grants are mandated by Article 113 of the Constitution. 2. The Finance Bill is mandated by Article 110(a) of the Constitution. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Key to Budget Documents 2025-26: the AFS, Demands for Grants and Finance Bill are mandated by Articles 112, 113 and 110(a) respectively. Both statements are correct. Answer: Both 1 and 2.
Under the new tax regime announced in the Union Budget 2025-26 on 1 February 2025, no income tax is payable on normal income up to:
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Correct answer: C — ₹12 lakh
Budget speech and PIB (1 Feb 2025): there will be no income tax payable on income up to ₹12 lakh under the new regime, other than special rate income such as capital gains.
For salaried taxpayers under the new regime, what is the nil-tax income limit after the Union Budget 2025-26, taking the standard deduction into account?
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Correct answer: A — ₹12.75 lakh
PIB (1 Feb 2025): the limit will be ₹12.75 lakh for salaried taxpayers, with a standard deduction of ₹75,000.
In the revised new-regime slabs of the Union Budget 2025-26, what rate applies to the income slab of ₹12-16 lakh?
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Correct answer: D — 15 per cent
Budget speech (para 158): 12-16 lakh rupees is taxed at 15 per cent under the revised new-regime structure.
Consider the following statements about the income-tax changes in the Union Budget 2025-26: 1. Under the new regime, the 30% rate applies to income above ₹24 lakh. 2. The ₹12 lakh nil-tax threshold also covers special rate income such as capital gains. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Budget speech: the top slab is above 24 lakh rupees at 30 per cent, so statement 1 is correct. The ₹12 lakh limit is for income other than special rate income such as capital gains, so statement 2 is wrong. Answer: 1 only.
The Union Budget 2025-26 extended the time limit for filing updated income-tax returns for any assessment year from two years to:
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Correct answer: B — Four years
PIB Summary (1 Feb 2025): the time limit to file updated returns was increased from two years to four years.
The Prime Minister Dhan-Dhaanya Krishi Yojana announced in the Union Budget 2025-26 will cover how many districts?
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Correct answer: B — 100
PIB (1 Feb 2025): the programme will cover 100 districts with low productivity, moderate crop intensity and below-average credit parameters.
How many farmers is the Prime Minister Dhan-Dhaanya Krishi Yojana expected to help, as per the Union Budget 2025-26?
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Correct answer: C — 1.7 crore
PIB (1 Feb 2025): the programme will help 1.7 crore farmers. The 7.7 crore figure refers to Kisan Credit Card beneficiaries.
The Union Budget 2025-26 raised the loan limit under the Modified Interest Subvention Scheme for Kisan Credit Card loans from ₹3 lakh to:
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Correct answer: D — ₹5 lakh
Budget speech (para 22): the loan limit under the Modified Interest Subvention Scheme will be enhanced from ₹3 lakh to ₹5 lakh for loans taken through the KCC.
The 'Mission for Aatmanirbharta in Pulses' announced in the Union Budget 2025-26 will run for how many years and focus on which pulses?
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Correct answer: A — 6 years; Tur, Urad and Masoor
Budget speech: a 6-year 'Mission for Aatmanirbharta in Pulses' with a special focus on Tur, Urad and Masoor; NAFED and NCCF will procure these pulses during the next 4 years.
How many Atal Tinkering Labs will be set up in government schools over the next 5 years, as announced in the Union Budget 2025-26?
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Correct answer: C — 50,000
PIB (1 Feb 2025): 50,000 Atal Tinkering Labs will be set up in government schools in the next 5 years.
What outlay did the Union Budget 2025-26 provide for a Centre of Excellence in Artificial Intelligence for education?
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Correct answer: B — ₹500 crore
PIB (1 Feb 2025): a Centre of Excellence in Artificial Intelligence for education with a total outlay of ₹500 crore.
According to the Union Budget 2025-26, how many medical seats are to be added over the next 5 years?
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Correct answer: D — 75,000
Budget speech: 10,000 additional seats will be added in the next year, towards the goal of adding 75,000 seats in the next 5 years.
Consider the following statements about the Union Budget 2025-26: 1. Day Care Cancer Centres will be set up in all district hospitals in the next 3 years. 2. Gig workers on online platforms will be given healthcare under PM Jan Arogya Yojana. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Budget speech and PIB Highlights: Day Care Cancer Centres in all district hospitals in the next 3 years (200 in 2025-26), and healthcare under PM Jan Arogya Yojana for gig workers. Both statements are correct. Answer: Both 1 and 2.
From where did DRDO conduct three successive flight-trials of the Very Short-Range Air Defence System (VSHORADS) on 1 February 2025?
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Correct answer: A — Chandipur, Odisha
PIB (1 Feb 2025): DRDO conducted three successive flight-trials of VSHORADS from Chandipur off the coast of Odisha.
Which DRDO laboratory designed and developed the VSHORADS Man Portable Air Defence system, tested on 1 February 2025?
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Correct answer: B — Research Centre Imarat
PIB (1 Feb 2025): VSHORADS is a Man Portable Air Defence system designed and developed indigenously by Research Centre Imarat in collaboration with other DRDO laboratories.
By how many times did the Union Budget 2025-26 enhance the investment limit for classification of all MSMEs?
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Correct answer: B — 2.5 times
PIB (1 Feb 2025): investment and turnover limits for classification of all MSMEs will be enhanced to 2.5 and 2 times respectively.
The Union Budget 2025-26 enhanced the credit guarantee cover for micro and small enterprises from ₹5 crore to:
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Correct answer: C — ₹10 crore
PIB (1 Feb 2025): credit guarantee cover for micro and small enterprises enhanced from ₹5 crore to ₹10 crore.
In which state did the Union Budget 2025-26 announce the establishment of a Makhana Board?
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Correct answer: A — Bihar
Budget speech and PIB (1 Feb 2025): a Makhana Board will be established in Bihar to improve production, processing, value addition and marketing of makhana.
The Western Koshi Canal ERM Project, which got financial support in the Union Budget 2025-26, benefits farmers in which region of Bihar?
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Correct answer: C — Mithilanchal
Budget speech: financial support will be provided for the Western Koshi Canal ERM Project, benefitting farmers cultivating over 50,000 hectares of land in the Mithilanchal region of Bihar.
The ₹1 lakh crore Urban Challenge Fund announced in the Union Budget 2025-26 will finance up to what share of the cost of bankable projects?
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Correct answer: A — 25 per cent
PIB (1 Feb 2025): the fund will finance up to 25 per cent of the cost of bankable projects, with at least 50 per cent of the cost funded from bonds, bank loans and PPPs.
Until which year was the Jal Jeevan Mission extended in the Union Budget 2025-26?
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Correct answer: D — 2028
PIB (1 Feb 2025): Jal Jeevan Mission extended until 2028, with the total budget outlay enhanced to ₹67,000 crore.
The Union Budget 2025-26 raised the FDI limit for the insurance sector from 74% to:
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Correct answer: A — 100 per cent
PIB (1 Feb 2025): the FDI limit for the insurance sector will be raised from 74 to 100 per cent.
Consider the following statements about the Union Budget 2025-26: 1. The enhanced insurance FDI limit is available only to companies that invest the entire premium in India. 2. The 'Grameen Credit Score' framework will be developed by the Reserve Bank of India. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
PIB and Budget speech: the higher FDI limit is for companies investing the entire premium in India, so statement 1 is correct. The Grameen Credit Score framework will be developed by Public Sector Banks, not the RBI, so statement 2 is wrong. Answer: 1 only.
The Union Budget 2025-26 allocation for the Ministry of Defence was how much higher than the 2024-25 Budget Estimate?
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Correct answer: C — 9.53%
PIB (1 Feb 2025): the allocation of ₹6,81,210.27 crore is 9.53% more than the Budgetary Estimate of 2024-25. 13.45% is its share of the Union Budget.
How much did the Union Budget 2025-26 allocate for capital outlay on defence services?
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Correct answer: B — ₹1.80 lakh crore
PIB (1 Feb 2025): ₹1.80 lakh crore (₹1,80,000 crore), i.e. 26.43% of the total allocation, is for capital outlay on defence services; ₹1.12 lakh crore of the capital budget is earmarked for domestic procurement.
What is the motto of the Indian Coast Guard, which celebrated its 49th Raising Day on 1 February 2025?
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Correct answer: B — Vayam Rakshamah
PIB (1 Feb 2025): with its motto 'Vayam Rakshamah' (We Protect), the ICG has ensured the safety and security of India's maritime zones.
As of its 49th Raising Day on 1 February 2025, what was the Indian Coast Guard's force level?
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Correct answer: C — 151 ships and 76 aircraft
PIB (1 Feb 2025): the ICG now comprises 151 ships and 76 aircraft; 200 surface platforms and 100 aircraft is its 2030 target.
Who inaugurated the New Delhi World Book Fair 2025 on 1 February 2025?
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Correct answer: D — President Droupadi Murmu
PIB (1 Feb 2025): President Droupadi Murmu inaugurated the New Delhi World Book Fair 2025 in New Delhi.
Where will the 12.7 lakh metric ton urea plant announced in the Union Budget 2025-26 be set up?
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Correct answer: D — Namrup, Assam
Budget speech (para 23): a plant with annual capacity of 12.7 lakh metric tons will be set up at Namrup, Assam.