Economy Current Affairs Quiz — All time
Daily news by your exam, state and topic — each with a short summary, key facts and MCQs.
The country's first functional PM MITRA Park, inaugurated on 10 May 2026, is located in which state?
Show answer
Correct answer: B — Telangana
The PM MITRA Park at Warangal, Telangana is the country's first functional PM MITRA Park.
At what total project cost was the PM MITRA Park at Warangal developed?
Show answer
Correct answer: D — ₹1,695.54 crore
The DPR was approved at a total project cost of ₹1,695.54 crore; ₹9,400 crore was the whole Hyderabad package and ₹6,000 crore the expected investment.
The 5F vision operationalised by PM MITRA parks stands for:
Show answer
Correct answer: A — Farm to Fibre to Factory to Fashion to Foreign
The 5F vision is Farm to Fibre to Factory to Fashion to Foreign.
Consider the following statements about the PM MITRA scheme: 1. The Ministry of Textiles approved seven PM MITRA parks in March 2023, including in Telangana and Gujarat. 2. The Warangal park was approved under the Brownfield category, making it eligible for ₹200 crore development capital support. Which of the statements given above is/are correct?
Show answer
Correct answer: C — Both 1 and 2
Both are correct. The seven parks are in Telangana, Tamil Nadu, Karnataka, Maharashtra, UP, Gujarat and MP; Warangal (Kakatiya Mega Textile Park) was approved as Brownfield with ₹200 crore DCS and ₹300 crore CIS.
In May 2026, Baksa district of Assam made its first-ever export of 20 MT of ODOP honey to which country?
Show answer
Correct answer: A — United States of America
The 20 MT consignment of Baksa's ODOP honey was exported to the USA on 9 May 2026.
Which body facilitated the first export of honey from Baksa, Assam, in May 2026?
Show answer
Correct answer: C — APEDA
The Agricultural and Processed Food Products Export Development Authority (APEDA) facilitated the export; MPEDA handles marine products.
What is the annual premium under the Pradhan Mantri Suraksha Bima Yojana (PMSBY) for ₹2 lakh accident cover?
Show answer
Correct answer: C — ₹20
PMSBY offers ₹2 lakh accident cover for ₹20 a year; ₹436 is the PMJJBY premium.
What is the entry age range for subscribers under the Atal Pension Yojana?
Show answer
Correct answer: B — 18–40 years
APY is open to people aged 18–40 who are not income-tax payers; 18–50 is PMJJBY and 18–70 is PMSBY.
Consider the following statements about the Jan Suraksha schemes: 1. PMJJBY provides life cover of ₹2 lakh to people aged 18–50 years. 2. PMJJBY, PMSBY and APY were launched in 2016. Which of the statements given above is/are correct?
Show answer
Correct answer: A — 1 only
Only 1 is correct. The three schemes were launched on 9 May 2015 and completed 11 years on 9 May 2026.
Where was the second India Aircraft Leasing and Financing Summit (IALFS 2.0) held on 8 May 2026?
Show answer
Correct answer: B — GIFT City, Gandhinagar
IALFS 2.0 was held at GIFT City, Gandhinagar, Gujarat, organised by MoCA with IFSCA and FICCI.
The Protection of Interests in Aircraft Objects (PIAO) Act, 2025, cited at IALFS 2.0, aligns India's legal framework with which international convention?
Show answer
Correct answer: C — Cape Town Convention
The PIAO Act, 2025 aligns India's legal framework with the Cape Town Convention on interests in aircraft objects.
What is the outlay of the Credit Line Guarantee Scheme for airlines approved by the Union Cabinet, as mentioned at IALFS 2.0 in May 2026?
Show answer
Correct answer: D — ₹5,000 crore
Minister Ram Mohan Naidu said the Cabinet approved a Credit Line Guarantee Scheme with an outlay of ₹5,000 crore to ease airlines' liquidity pressures.
Where was the second round of India–Canada CEPA negotiations held from 4 to 8 May 2026?
Show answer
Correct answer: C — Vanijya Bhawan, New Delhi
The second round was held at Vanijya Bhawan, New Delhi, hosted by the Department of Commerce.
When and where is the next (third) round of India–Canada CEPA negotiations scheduled, as per the joint statement of May 2026?
Show answer
Correct answer: B — July 2026, Ottawa
The next round is scheduled for July 2026 in Ottawa, with intersessional engagements in the interim.
Under which BRICS framework is India advancing MSME cooperation during its 2026 Chairship?
Show answer
Correct answer: B — BRICS Partnership on the New Industrial Revolution (PartNIR)
India is advancing MSME cooperation under the BRICS Partnership on the New Industrial Revolution (PartNIR).
What was the focus of the first BRICS SME Working Group meeting held as a webinar on 24 April 2026 under India's Chairship?
Show answer
Correct answer: C — Access to Finance for MSMEs
The first SME Working Group meeting focused on 'Access to Finance for MSMEs'.
What is the new base year of India's National Accounts that States and UTs must adopt for GSDP, as per MoSPI's guideline of May 2026?
Show answer
Correct answer: A — 2022-23
MoSPI has updated the base year of the National Accounts to 2022-23, and States/UTs must adopt it for GSDP.
Who chaired the ACNAS Sub-Committee on Regional Accounts that prepared the uniform GSVA guideline released in May 2026?
Show answer
Correct answer: D — Prof. Ravindra H. Dholakia
The Sub-Committee on Regional Accounts was chaired by Prof. Ravindra H. Dholakia, former professor at IIM Ahmedabad.
How many auctioned mineral blocks had been operationalised since the auction regime began, as announced by the Ministry of Mines in May 2026?
Show answer
Correct answer: B — 101
101 auctioned mineral blocks have been operationalised; 212 is the number auctioned in FY 2025–26 alone.
Which state leads in the number of operationalised auctioned mineral blocks, as per the Ministry of Mines in May 2026?
Show answer
Correct answer: C — Odisha
Odisha leads with 34 operationalised blocks, followed by Karnataka (18) and Gujarat (11).
Consider the following statements about India's mineral block auctions: 1. The auction regime for mineral blocks was introduced in 2015. 2. FY 2025–26 recorded the highest-ever number of mineral blocks auctioned in a single financial year, at 212. Which of the statements given above is/are correct?
Show answer
Correct answer: C — Both 1 and 2
Both are correct as per the Ministry of Mines: the auction regime began in 2015, and 212 blocks were auctioned in FY 2025–26, a record.
The Trade and Economic Partnership Agreement (TEPA), reviewed by the Commerce Secretary in Switzerland in May 2026, is India's trade agreement with which grouping?
Show answer
Correct answer: C — European Free Trade Association (EFTA)
TEPA is India's first trade agreement with the European Free Trade Association (EFTA) economies.
Under the India–EFTA TEPA, EFTA has offered improved market access on what share of its tariff lines, and what share of India's exports does this cover?
Show answer
Correct answer: A — 92.2% of tariff lines, covering 99.6% of India's exports
EFTA offered improved market access on 92.2% of its tariff lines, covering 99.6% of India's exports.
India's merchandise exports to Switzerland in FY 2025–26 exceeded which figure, as stated during the Commerce Secretary's visit in May 2026?
Show answer
Correct answer: D — USD 1.2 billion
India's exports to Switzerland exceeded USD 1.2 billion in FY 2025–26; USD 6.884 billion was services exports in 2024.
What is the reference period of the Annual Survey of Unincorporated Sector Enterprises (ASUSE) 2025, whose detailed report was released in May 2026?
Show answer
Correct answer: B — January 2025 – December 2025
ASUSE 2025 covers January–December 2025; October 2023–September 2024 was the period of ASUSE 2023-24.
As per ASUSE 2025, female proprietors headed more than 60% of establishments in which sector?
Show answer
Correct answer: D — Manufacturing
Female proprietors headed more than 60% of manufacturing establishments; construction is outside ASUSE's coverage.
The Crystal Matrix facility at Dholera, approved in May 2026, will be India's first commercial Mini/Micro-LED display facility based on which material?
Show answer
Correct answer: A — Gallium Nitride (GaN)
The facility is the country's first commercial Mini/Micro-LED display facility based on Gallium Nitride (GaN) technology.
With the two approvals of May 2026, how many projects have been approved under the India Semiconductor Mission?
Show answer
Correct answer: C — 12
The total number of approved ISM projects reached 12, with cumulative investments of around ₹1.64 lakh crore.
Which company will set up an OSAT facility for discrete semiconductors at Surat under the approvals of May 2026?
Show answer
Correct answer: D — Suchi Semicon Private Limited
Suchi Semicon Private Limited will set up the OSAT facility at Surat; Crystal Matrix's GaN facility is at Dholera.
Under ECLGS 5.0, approved in May 2026, what guarantee coverage does NCGTC provide for MSMEs and for non-MSMEs?
Show answer
Correct answer: B — 100% for MSMEs and 90% for non-MSMEs
ECLGS 5.0 provides 100% guarantee cover for MSMEs and 90% for non-MSMEs as well as the airline sector.
How much has been earmarked for airlines under ECLGS 5.0, approved by the Cabinet in May 2026?
Show answer
Correct answer: D — ₹5,000 crore
₹5,000 crore of the ₹2,55,000 crore additional credit is earmarked for airlines; ₹1,500 crore is the per-airline cap.
Which entity provides the credit guarantee to Member Lending Institutions under ECLGS 5.0?
Show answer
Correct answer: A — National Credit Guarantee Trustee Company (NCGTC)
Guarantee coverage under ECLGS 5.0 is provided to Member Lending Institutions by the National Credit Guarantee Trustee Company Limited (NCGTC).
Where was the North Tech Symposium 2026 held in May 2026?
Show answer
Correct answer: A — Prayagraj
The North Tech Symposium 2026 was held in Prayagraj, Uttar Pradesh.
As stated at the North Tech Symposium 2026, India's defence production in FY 2025-26 reached a record of about how much?
Show answer
Correct answer: C — ₹1.54 lakh crore
India's defence production reached a record ₹1.54 lakh crore in FY 2025-26, a 174% rise in a decade; ₹6,81,000 crore is the 2026-27 defence Budget.
What Fair and Remunerative Price (FRP) of sugarcane was approved for sugar season 2026–27?
Show answer
Correct answer: D — ₹365 per quintal
The FRP for 2026–27 is ₹365 per quintal at a basic recovery rate of 10.25%; ₹338.3 applies where recovery is below 9.5%.
The FRP of sugarcane is determined on the basis of recommendations of which body?
Show answer
Correct answer: A — Commission for Agricultural Costs and Prices (CACP)
The FRP is determined on the basis of CACP's recommendations after consultation with State Governments and other stakeholders.
Viability Plan 2.0, approved by the Department of Financial Services in May 2026, covers how many Regional Rural Banks?
Show answer
Correct answer: A — 28
Viability Plan 2.0 aims to strengthen financial stability across all 28 RRBs.
The LPG carrier MT Sarv Shakti, which crossed the Strait of Hormuz with 46,313 MT of Indian LPG in May 2026, was expected to arrive at which Indian port?
Show answer
Correct answer: A — Visakhapatnam
MT Sarv Shakti was expected to arrive at Visakhapatnam on 13 May 2026.
As a West Asia rationalisation measure, the domestic LPG booking interval in urban areas was raised from 21 days to:
Show answer
Correct answer: B — 25 days
The urban booking interval was raised from 21 to 25 days; in rural areas it goes up to 45 days.
The Indore–Pithampur Economic Corridor, whose first phase's foundation stone was laid on 3 May 2026, is expected to generate employment for about how many people?
Show answer
Correct answer: D — 6 lakh
The corridor is expected to create employment for 6 lakh people.
Consider the following statements about the Indore–Pithampur Economic Corridor: 1. Its first-phase foundation stone was laid at Nainod village, Indore, on 3 May 2026. 2. It is planned over about 1,316 hectares. Which of the statements given above is/are correct?
Show answer
Correct answer: C — Both 1 and 2
Both are correct: the foundation was laid at Nainod village, and the corridor is planned over about 1,316 hectares with a 75-metre-wide main road.
In May 2026, a new GST Bhawan for the CBIC's commissionerate was inaugurated at Niti Vihar in which state capital?
Show answer
Correct answer: A — Itanagar
The new GST Bhawan was inaugurated at Niti Vihar, Itanagar, Arunachal Pradesh, on 3 May 2026.
At the DFS colloquium of DRAT and DRT heads on 2 May 2026, which revamped platform was noted for facilitating e-auctions and better asset visibility?
Show answer
Correct answer: B — BAANKNET
The revamped BAANKNET e-auction platform was noted for better asset visibility and value realisation.
On which date was the Unified Payments Interface (UPI) launched by NPCI?
Show answer
Correct answer: A — 11 April 2016
UPI was launched on 11 April 2016 by the National Payments Corporation of India under RBI's regulatory oversight.
As per the Finance Ministry's 10-year note, what was UPI's approximate transaction value in FY 2025–26?
Show answer
Correct answer: D — ₹314 lakh crore
Transaction value rose from ₹0.07 lakh crore in FY 2016–17 to approximately ₹314 lakh crore in FY 2025–26.
Consider the following statements about UPI as of its 10th anniversary in April 2026: 1. Over 700 banks are onboarded on UPI. 2. UPI captures nearly 49% of global real-time payments. Which of the statements given above is/are correct?
Show answer
Correct answer: C — Both 1 and 2
Both are correct as per the Finance Ministry's release of 30 April 2026.
What is the total outlay of the Incentive Scheme for Promotion of Critical Mineral Recycling under the National Critical Mineral Mission?
Show answer
Correct answer: A — ₹1,500 crore
The scheme has a total outlay of ₹1,500 crore under the National Critical Mineral Mission and was notified on 2 October 2025.
Which institution is the Project Management Agency (PMA) that evaluated proposals under the Critical Mineral Recycling incentive scheme?
Show answer
Correct answer: C — Jawaharlal Nehru Aluminium Research Development and Design Centre
Proposals were evaluated by the PMA, the Jawaharlal Nehru Aluminium Research Development and Design Centre (JNARDDC).
Consider the following statements about the Critical Mineral Recycling incentive scheme: 1. The scheme covers recovery of critical minerals from lithium-ion batteries, e-waste and industrial scrap. 2. All 58 eligible companies were cleared in a single Executive Committee meeting on 29 April 2026. Which of the statements given above is/are correct?
Show answer
Correct answer: A — 1 only
Statement 1 is correct. Statement 2 is wrong: 20 entities were cleared on 30 March 2026 and 38 on 29 April 2026.
How many new 8-digit tariff lines were added to the RoDTEP schedules by Notification No. 15/2026–27?
Show answer
Correct answer: C — 142
The revision covers 194 tariff lines: 142 new 8-digit lines added, 50 deleted and descriptions of 2 modified.
Under the RoDTEP scheme, Appendix 4RE covers exports by which units?
Show answer
Correct answer: A — Advance Authorisation, EOU and SEZ units
Appendix 4R is for DTA exports, while Appendix 4RE is for exports by Advance Authorisation (AA), Export Oriented Unit (EOU) and SEZ units.
According to the 5th India–Tanzania Joint Trade Committee, what was India–Tanzania bilateral trade in 2025–26?
Show answer
Correct answer: D — USD 9.02 billion
Bilateral trade reached USD 9.02 billion in 2025–26, rising from USD 8.64 billion in 2024–25.
Consider the following statements about the 5th India–Tanzania Joint Trade Committee: 1. The meeting was held in Dar es Salaam on 29–30 April 2026. 2. The previous (4th) session was held in New Delhi in August 2017. Which of the statements given above is/are correct?
Show answer
Correct answer: C — Both 1 and 2
Both are correct: the 5th JTC was held in Dar es Salaam on 29–30 April 2026 and reviewed progress since the 4th session in New Delhi in August 2017.
The Live Events Development Cell (LEDC), which held its 4th meeting on 30 April 2026, was set up by which ministry?
Show answer
Correct answer: B — Ministry of Information and Broadcasting
The Ministry of Information and Broadcasting set up the LEDC in July 2025 under the chairpersonship of the I&B Secretary.
On which portal is single-window clearance for live events being provided, as discussed at the 4th LEDC meeting?
Show answer
Correct answer: A — India Cine Hub
The 4th LEDC meeting highlighted single-window clearance for live events on the India Cine Hub portal.
What is the maximum balance limit of the India Post Payments Bank's SHG Savings Account launched on 30 April 2026?
Show answer
Correct answer: D — ₹2,00,000
The IPPB SHG Savings Account has a maximum balance limit of ₹2,00,000, with no minimum deposit or monthly average balance.
Consider the following statements about the IPPB SHG Savings Account: 1. Interest on the account is paid quarterly. 2. The account requires a minimum initial deposit of ₹500. Which of the statements given above is/are correct?
Show answer
Correct answer: A — 1 only
Statement 1 is correct. Statement 2 is wrong: there is no minimum initial deposit requirement.
What was India–Kenya bilateral trade in 2025–26, as noted at the 10th Joint Trade Committee?
Show answer
Correct answer: D — USD 4.31 billion
Trade stood at USD 4.31 billion in 2025–26, up 24.91% from USD 3.45 billion in 2024–25.
At the 10th India–Kenya JTC, an MoU for exchange of pre-arrival customs information was signed between CBIC and which Kenyan body?
Show answer
Correct answer: C — Kenya Revenue Authority
The MoU was signed between CBIC and the Kenya Revenue Authority (KRA); a separate BIS–KEBS MoU on standards was reviewed.
As per MoSPI's quick estimate, by how much did the Index of Industrial Production grow in March 2026?
Show answer
Correct answer: B — 4.1%
IIP grew 4.1% in March 2026, compared with 5.2% in February 2026.
Consider the following statements about the IIP for March 2026: 1. Electricity recorded the highest growth among the three sectors. 2. The IIP uses 2011–12 as its base year. Which of the statements given above is/are correct?
Show answer
Correct answer: B — 2 only
Statement 1 is wrong: mining grew fastest (5.5%), electricity grew just 0.8%. Statement 2 is correct.
For how long will sports-related IP registrations be exempt from fees, as announced by Piyush Goyal on 28 April 2026?
Show answer
Correct answer: D — Three years
All sports-related IP registrations will be exempt from fees for three years, effective immediately.
What was the theme of the World Intellectual Property Day celebrations held in New Delhi on 28 April 2026?
Show answer
Correct answer: B — IP and Sports: Ready, Set, Innovate!
The celebrations were themed 'IP and Sports: Ready, Set, Innovate!'.
Who signed the India–New Zealand Free Trade Agreement on behalf of New Zealand on 27 April 2026?
Show answer
Correct answer: C — Todd McClay
The FTA was signed by Piyush Goyal and New Zealand's Minister for Trade and Investment Todd McClay.
How much investment has New Zealand committed to India under the India–New Zealand FTA?
Show answer
Correct answer: A — USD 20 billion
The FTA includes a USD 20 billion investment commitment by New Zealand.
Consider the following statements about the India–New Zealand FTA: 1. India has excluded dairy products from its market-access offer. 2. Negotiations were concluded in a record 9 months after being announced in March 2025. Which of the statements given above is/are correct?
Show answer
Correct answer: C — Both 1 and 2
Both are correct: dairy is excluded, and talks announced on 16 March 2025 concluded in 9 months, the fastest FTA concluded by India.
MoSPI's April 2026 approach paper proposes an index to capture short-term movements in which sector?
Show answer
Correct answer: B — Services
The paper is on compiling an Index of Service Production (ISP) for the formal sector, as there is no short-term index for services unlike the IIP for industry.
Which data source does MoSPI's approach paper on the Index of Service Production draw on?
Show answer
Correct answer: D — Goods and Services Tax (GST) data
The approach paper relies on GST data along with other digitised administrative sources.