Economy Current Affairs Quiz — All time
Daily news by your exam, state and topic — each with a short summary, key facts and MCQs.
As per the Canada-India Joint Statement of May 2026, by when do both sides aim to conclude negotiations on the Comprehensive Economic Partnership Agreement (CEPA)?
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Correct answer: A — By the end of 2026
Both Ministers affirmed their shared objective of concluding CEPA negotiations by the end of this year (2026).
Which platform was launched by India and Canada in May 2026 to bring together business leaders of both countries?
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Correct answer: A — Canada-India Trade and Investment Forum
The Ministers launched the Canada-India Trade and Investment Forum as a key platform for Canadian and Indian business leaders.
The Insolvency and Bankruptcy Code (IBC), which completed 10 years in May 2026, came into force in which year?
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Correct answer: D — 2016
MCA said the IBC, which came into force in 2016, completed 10 years on 28 May 2026.
As per MCA data released on IBC's 10th anniversary, resolution plans under the Code have realised how much for creditors (as of March 2026)?
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Correct answer: C — Over ₹4 lakh crore
1,419 resolution plans realised over ₹4 lakh crore; ₹14 lakh crore is the value of 30,000+ cases settled before admission.
Consider the following statements regarding IBC outcomes up to March 2026: 1. More cases closed with the company being rescued than with liquidation. 2. Realisation for creditors under resolution plans was below the liquidation value of the assets. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
4,099 companies were rescued against 3,003 liquidations; realisation was 167% of liquidation value, i.e. above it.
S&P Global Ratings, as cited by MCA on IBC's 10th anniversary, upgraded India's insolvency framework to which group?
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Correct answer: D — From Group C to Group B
S&P Global Ratings upgraded India's insolvency framework from 'Group C' to 'Group B'.
NHAI's tentative list of National Highway assets for monetisation in FY 2026–27 covers what total length?
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Correct answer: B — 1,692.5 km
The 17 identified assets have a combined length of 1,692.5 km across nine States.
Consider the following statements about NHAI's FY 2026–27 monetisation list: 1. It covers monetisation through Toll-Operate-Transfer (TOT) and InvIT modes. 2. It includes the assets to be monetised through the Raajmarg Infra Investment Trust (RIIT). Which of the statements given above is/are correct?
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Correct answer: A — 1 only
The list covers TOT and InvIT modes but does not include assets proposed for monetisation through RIIT.
What is the Central outlay approved by the Cabinet in May 2026 for the SARTHAK-PDS umbrella scheme?
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Correct answer: A — ₹25,530 crore
The CCEA approved SARTHAK-PDS with an outlay of ₹25,530 crore as Central share.
Consider the following statements about SARTHAK-PDS approved in May 2026: 1. It integrates the SMART PDS scheme with assistance for intra-State movement of foodgrains and FPS dealers' margin. 2. The merged scheme will operate up to 31 March 2031. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
SARTHAK-PDS merges SMART PDS with the intra-State movement/FPS dealers' margin scheme and runs up to 31.03.2031.
SARTHAK-PDS aims to comprehensively strengthen the implementation of which law?
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Correct answer: D — National Food Security Act, 2013
The umbrella scheme is meant to strengthen implementation of the National Food Security Act, 2013 (NFSA).
As per the Third Advance Estimates 2025-26 (May 2026), India's total foodgrain production is estimated at about:
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Correct answer: C — 376.6 million tonnes
Foodgrain production is estimated at a record 376.563 million tonnes; 357.732 million tonnes was the 2024-25 figure.
Which crop recorded the largest absolute increase in production in the Third Advance Estimates 2025-26, rising by about 11.7 million tonnes over 2024-25?
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Correct answer: A — Maize
Maize rose to a record 55.093 MT from 43.409 MT (+11.684 MT); rice rose by 3.84 MT and wheat by 2.712 MT.
Consider the following statements about the Third Advance Estimates 2025-26: 1. Rice production is estimated to be higher than wheat production. 2. Foodgrain production is estimated to be more than 10% higher than in 2024-25. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Rice (154.024 MT) exceeds wheat (120.657 MT); foodgrain output is up about 5.3%, not more than 10%.
In the Third Advance Estimates 2025-26, which crop's production is estimated at a record 500.063 million tonnes?
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Correct answer: D — Sugarcane
Sugarcane production is estimated at a record 500.063 million tonnes.
According to the Petroleum Ministry (May 2026), what is India's rank among the world's refiners?
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Correct answer: C — Fourth
India is the world's fourth-largest refiner, with 258.1 MTPA capacity across 22 refineries.
India's installed refining capacity, as stated by the Petroleum Ministry in May 2026, is:
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Correct answer: B — 258.1 MTPA
Installed capacity is 258.1 million tonnes per annum; 243.2 million tonnes was domestic consumption in FY 2025-26.
Where was the 12th round of India–Republic of Korea CEPA upgrade negotiations held in May 2026?
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Correct answer: D — New Delhi
The 12th round of IK CEPA upgrade negotiations was held in New Delhi from 25–27 May 2026.
At the 12th round of India–Korea CEPA upgrade talks (May 2026), the two sides agreed to form sub-groups on which areas?
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Correct answer: C — Digital trade, supply chains and strategic industrial cooperation
India and Korea agreed to form sub-groups to expand CEPA talks on digital trade, supply chains and strategic industrial cooperation.
Which company was approved in May 2026 as the strategic buyer for 100% equity of Indian Medicines Pharmaceutical Corporation Limited (IMPCL)?
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Correct answer: D — Skymap Pharmaceuticals Pvt. Ltd.
The Alternative Mechanism approved the highest bid of about ₹121.01 crore by Skymap Pharmaceuticals Private Limited.
Consider the following statements about IMPCL: 1. It was incorporated in 1978. 2. Its prime objective is manufacturing and supplying standardised Homoeopathic and Siddha medicines. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
IMPCL was incorporated on 12 July 1978 with the prime objective of manufacturing and supplying standardised Ayurvedic and Unani medicines, not Homoeopathic and Siddha.
As per telecom subscription data for the end of April 2026, India's total telephone subscriber base (wireless plus wireline) was about:
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Correct answer: B — 1,338 million
Total telephone subscribers were 1,337.54 million; 1,073.44 million is the broadband figure, 1,193.57 million active wireless and 1,288.96 million total wireless.
Consider the following statements based on telecom subscription data for the end of April 2026: 1. Overall tele-density (with M2M connections) was 93.69%. 2. Rural subscribers accounted for more than half of total telephone subscribers. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Overall tele-density was 93.69%; rural subscribers were 41.45% of the total, so statement 2 is wrong.
As per KVIC's provisional data for 2025-26, sales of Khadi and Village Industries products reached about:
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Correct answer: C — ₹1.87 lakh crore
Sales reached a record ₹1,87,105 crore; ₹1,25,296 crore is the production figure.
Consider the following statements about KVIC's provisional data for 2025-26: 1. Sales grew by about 501% compared with 2013-14. 2. The value of production in 2025-26 was higher than the value of sales. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Sales rose 501% over 2013-14 to ₹1,87,105 crore; production was ₹1,25,296 crore, which is lower than sales.
Consider the following statements as per the India Semiconductor Mission (May 2026): 1. 12 Fab/Packaging projects have been approved under the Semicon India Programme so far. 2. 24 semiconductor design projects have been approved so far. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
ISM stated that so far 12 Fab/Packaging projects have been approved along with 24 semiconductor design projects.
What is the name of the online portal launched by the India Semiconductor Mission on 26 May 2026 for investors?
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Correct answer: D — Investors Support
The portal launched on 26.05.2026 is titled 'Investors Support' and is accessible at ism.gov.in/investment.
The new series of the All-India Index of Industrial Production (IIP), to be launched on 1 June 2026, will have which base year?
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Correct answer: C — 2022-23
The TAC-IIP report covers revision of the IIP base year from 2011-12 to 2022-23.
Which method will the new IIP series adopt for linking the 2011-12 series with the 2022-23 series?
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Correct answer: D — Geometric Mean method
The new series will adopt the Geometric Mean method for linking, with linking factors computed for the General Index and Sectoral Indices.
Consider the following statements about the new IIP series (base 2022-23): 1. Its scope includes Rare Earth Minerals and Water Supply. 2. It is aligned with the National Industrial Classification (NIC-2008). Which of the statements given above is/are correct?
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Correct answer: A — 1 only
The new series adds Minor Minerals, Rare Earth Minerals, Gas Supply, Water Supply and Sewerage & Waste Management, and is aligned with NIC-2025, not NIC-2008.
What was India Post's revenue in FY 2025-26, as stated by the MoS for Communications in May 2026?
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Correct answer: A — ₹15,373 crore
India Post's revenue rose to ₹15,373 crore in 2025-26, a single-year increase of ₹2,100 crore; it was about ₹11,500 crore in 2016.
As per India Post (May 2026), how many girls are enrolled under the Sukanya Samriddhi scheme?
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Correct answer: C — 3.8 crore
India Post said 3.8 crore girls are enrolled under the Sukanya Samriddhi scheme.
How many mineral blocks were auctioned in FY 2025-26, a record for a single financial year, as per the Ministry of Mines (May 2026)?
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Correct answer: C — 212
A record 212 mineral blocks were auctioned in FY 2025-26; 108 were auctioned in FY 2015-16 to 2020-21 and 364 in FY 2021-22 to 2024-25.
Of the mineral blocks auctioned in FY 2025-26, how many were critical and strategic mineral blocks?
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Correct answer: D — 22
The record FY 2025-26 tally includes the auction of 22 critical and strategic mineral blocks.
Which of the following is NOT among the five dispensing systems added to the scope of Government Approved Test Centres (GATCs) in May 2026?
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Correct answer: D — Electric vehicle charging stations
The five added categories are petrol/diesel, CNG, LPG, LNG and hydrogen dispensers; EV charging stations are not among them.
Under the amended GATC Rules (May 2026), what is the verification fee for CNG, LPG, LNG and hydrogen dispensers?
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Correct answer: C — ₹10,000 per nozzle
The fee is ₹10,000 per nozzle for CNG, LPG, LNG and hydrogen dispensers, and ₹5,000 per nozzle for petrol and diesel dispensers.
Consider the following statements about the amendment to the Legal Metrology (Government Approved Test Centre) Rules, 2013 (May 2026): 1. State Governments are empowered to notify additional categories of weights and measures for verification through GATCs. 2. The verification fee for petrol and diesel dispensers is ₹10,000 per nozzle. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
States can notify additional categories; the fee for petrol and diesel dispensers is ₹5,000 per nozzle, not ₹10,000.
The BHAVYA Scheme, whose guidelines DPIIT released in May 2026, aims to develop:
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Correct answer: D — 100 industrial parks with about ₹33,660 crore
The Scheme provides for 100 industrial parks over 2026-27 to 2031-32 with an outlay of about ₹33,660 crore.
Which body has been designated the Project Management Agency for the BHAVYA Scheme?
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Correct answer: A — National Industrial Corridor Development Corporation (NICDC)
The guidelines designate NICDC as the Project Management Agency for implementation and monitoring.
Over which period will the BHAVYA Scheme be implemented?
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Correct answer: B — 2026-27 to 2031-32
The 100 parks are to be developed over six years, 2026-27 to 2031-32.
Consider the following statements about the BHAVYA Scheme guidelines: 1. The minimum land requirement for a park is 25 acres in hilly states, north-eastern states, Union Territories and smaller states. 2. Up to 50 industrial parks will be taken up in the first phase through a challenge-based competitive selection. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Both are correct: 25 acres (100 acres in non-hilly states) is the minimum, and up to 50 parks are taken up first through challenge-based selection.
During his Canada visit of 25–27 May 2026, Piyush Goyal was to meet which Canadian Minister of International Trade to review India–Canada CEPA?
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Correct answer: D — Maninder Sidhu
PIB: Goyal will meet Mr Maninder Sidhu, Minister of International Trade; Mark Carney is the Prime Minister and Anita Anand the Foreign Minister.
As per the Commerce Ministry, what was the value of India's exports to Canada in FY2025-26?
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Correct answer: B — USD 4.67 billion
Bilateral trade was around USD 8 billion: India's exports USD 4.67 billion and imports USD 3.28 billion.
Consider the following statements: 1. India had a trade surplus with Canada in FY2025-26. 2. Piyush Goyal's May 2026 visit to Canada was scheduled from 25 to 30 May. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Exports (USD 4.67 bn) exceeded imports (USD 3.28 bn), so India had a surplus. The visit was from 25 to 27 May, so statement 2 is wrong.
Who chairs the High-Powered 'Education to Employment and Enterprise' Standing Committee that met for the first time on 22 May 2026?
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Correct answer: A — CEO, NITI Aayog
The committee is constituted under the chairpersonship of the CEO, NITI Aayog; Nidhi Chibber chaired the first meeting.
The 'Education to Employment and Enterprise' Standing Committee is meant to help India achieve what share of the global services market by 2047?
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Correct answer: C — 10%
The committee is envisaged to help India achieve a 10% share of the global services market by 2047.
Consider the following statements about the 'Education to Employment and Enterprise' Standing Committee: 1. Its setting up was proposed in the Union Budget 2026-27. 2. The governments of Andhra Pradesh, Bihar, Maharashtra and Uttar Pradesh are represented on it. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Para 51 of the Union Budget 2026-27 proposed the committee, and the four State governments are among its members.
Who took over as Chair of the Asian Productivity Organization (APO) for 2026–27 at the 68th Governing Body Meeting in New Delhi?
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Correct answer: D — Prof. Anwar Sanusi of Indonesia
Indonesia's APO Director Prof. Anwar Sanusi became Chair for 2026–27, succeeding India's Amardeep Singh Bhatia; Iran and Japan took the Vice Chair roles.
Which country will host the 69th Governing Body Meeting of the APO in 2027?
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Correct answer: B — Lao PDR
It was announced that the 69th GBM will be hosted in Lao PDR in 2027; the 67th Workshop Summit Meeting will be in Sri Lanka.
Consider the following statements about the 68th APO Governing Body Meeting (May 2026): 1. It was held at Yashobhoomi (IICC), New Delhi. 2. The 67th Workshop Summit Meeting of Heads of APO Economies will be held in Lao PDR in 2027. Which of the statements given above is/are correct?
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Correct answer: D — Neither 1 nor 2
The meeting was at Bharat Mandapam, not Yashobhoomi. The 67th Workshop Summit Meeting will be in Sri Lanka; Lao PDR hosts the 69th GBM. Both statements are wrong.
Where did India and Ethiopia sign the bilateral protocol for Ethiopia's WTO accession on 22 May 2026?
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Correct answer: A — Geneva
The signing ceremony took place in Geneva, and the protocol was deposited with the WTO Secretariat.
Consider the following statements: 1. India is Ethiopia's second-largest trading partner. 2. India–Ethiopia relations were elevated to a Strategic Partnership during PM Modi's visit to Ethiopia in December 2025. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Both are stated in the Commerce Ministry release of 22 May 2026.
The about 60,000 kg of areca nuts seized by the DRI in May 2026 had been smuggled into India from which country, through which border?
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Correct answer: B — Myanmar, through the Myanmar–Mizoram border
Investigations revealed the areca nuts were smuggled from Myanmar through the Myanmar–Mizoram border.
As per NSO's QBUSE for January–March 2026, the estimated number of unincorporated non-agricultural establishments was:
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Correct answer: C — 9.16 crore
Establishments rose to 9.16 crore from 7.85 crore in the same quarter a year earlier, a 16.69% increase.
Consider the following statements based on the QBUSE for January–March 2026: 1. Employment in the unincorporated non-agricultural sector crossed 15 crore for the first time. 2. Urban establishments grew faster than rural establishments. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Employment reached 15.17 crore, crossing 15 crore for the first time. Rural growth (20.46%) was faster than urban (12.59%), so statement 2 is wrong.
What share of total employment in the unincorporated non-agricultural sector did women account for in January–March 2026?
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Correct answer: B — More than 29%
The women workforce constituted more than 29% of total employment in the sector.
According to Piyush Goyal at the AmCham Annual Leadership Summit (21 May 2026), commitments from American industry in India over the last six months were estimated at upwards of:
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Correct answer: C — $60 billion
Goyal said commitments from American industry in the last six months were estimated to be upwards of $60 billion, including data centre investments by Amazon and Google.
To what level did India and Italy elevate their relations during PM Modi's visit to Italy in May 2026?
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Correct answer: C — Special Strategic Partnership
The India-Italy Joint Declaration of 20 May 2026 states that the two leaders decided to elevate relations to a Special Strategic Partnership.
Consider the following statements about the India-Italy Joint Declaration (May 2026): 1. The two sides aim to reach €20 billion in bilateral trade by 2029. 2. The Joint Strategic Action Plan 2025-2029 was adopted at the G7 Summit in Italy in June 2024. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Statement 1 is correct. Statement 2 is wrong: the Action Plan was adopted when the leaders met at the G20 Summit in Rio de Janeiro in November 2024.
Under the May 2026 India-Italy Joint Declaration, which mechanism will review the Joint Strategic Action Plan 2025-29?
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Correct answer: D — A Foreign Ministers-led mechanism
The leaders agreed to establish a Foreign Ministers-led mechanism to review the Action Plan and guide the Special Strategic Partnership.
How many new subscribers did the Atal Pension Yojana add in FY 2025-26, its highest-ever annual enrolment?
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Correct answer: D — 1.35 crore
A record 1.35 crore subscribers were added to APY during FY 2025-26.
What was the share of women in Atal Pension Yojana enrolments during FY 2025-26?
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Correct answer: C — 55.14%
PFRDA reported that women's participation under APY reached a record 55.14% during FY 2025-26.
By how much did the Index of Eight Core Industries grow (provisional) in April 2026 over April 2025?
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Correct answer: A — 1.7%
The ICI rose 1.7% (provisional) in April 2026. 2.7% is the cumulative growth for 2025-26.
Which of the eight core industries carries the largest weight in the Index of Eight Core Industries?
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Correct answer: C — Petroleum refinery products
Refinery products have the largest weight at 28.04%, followed by electricity, steel (17.92%) and coal (10.33%).
Which city hosted the 3rd India-Nordic Summit on 19 May 2026?
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Correct answer: B — Oslo
The summit was hosted by the Prime Minister of Norway; PIB places PM Modi's margin meetings in Oslo.
Into what kind of partnership did India and the Nordic countries decide to shape their relations at the 3rd India-Nordic Summit?
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Correct answer: D — Green Technology and Innovation Strategic Partnership
PM Modi announced that India–Nordic relations would be shaped into a Green Technology and Innovation Strategic Partnership.
Consider the following statements in the context of the 3rd India-Nordic Summit (May 2026): 1. The India–EFTA Trade and Economic Partnership Agreement has been implemented since October 2025. 2. Sweden is a party to the India–EFTA TEPA. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Statement 1 is correct. Statement 2 is wrong: PM Modi named Norway, Iceland and the other EFTA countries as TEPA partners, and Denmark, Finland and Sweden as partners in the India–EU FTA.
Which coal mine became the first underground mine to start production under the commercial coal auction regime in May 2026?
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Correct answer: B — Urtan, Anuppur
The Urtan mine in Anuppur district, MP, began production on 15 May 2026 as the first underground mine under commercial auctions. Dhirauli also began production but is not described as underground.
The Dhirauli coal mine, which began production on 17 May 2026, is in which district of Madhya Pradesh?
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Correct answer: C — Singrauli
Dhirauli is in Singrauli district and is allocated to Mahan Energen Limited.
Where will the flagship Bharat Innovates 2026 event be held in June 2026 under the India–France Year of Innovation?
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Correct answer: A — Nice
The flagship Bharat Innovates 2026 event is in Nice, France, on 14–16 June 2026.
How many deep-tech start-ups presented at the Bharat Innovates Investor Showcase in Bengaluru on 19 May 2026?
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Correct answer: D — 24
Twenty-four deep-tech start-ups from the Bharat Innovates cohort presented to 90+ investors.
The MoU signed in Mumbai on 19 May 2026 to advance corporate governance, ESG and capital markets was between NISM and which institute?
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Correct answer: C — Indian Institute of Corporate Affairs
The MoU was between NISM (set up by SEBI) and the Indian Institute of Corporate Affairs (IICA) under the Ministry of Corporate Affairs.
Who is the SEBI Chairman who attended the NISM–IICA MoU signing in May 2026?
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Correct answer: B — Tuhin Kanta Pandey
PIB: the signing ceremony was graced by SEBI Chairman Tuhin Kanta Pandey.