Economy Current Affairs Quiz — All time
Daily news by your exam, state and topic — each with a short summary, key facts and MCQs.
What was the All India CPI (Combined) inflation rate for March 2026 (provisional), on base year 2024?
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Correct answer: B — 3.40%
Combined CPI inflation was 3.40%; 3.21% was February, 3.87% food inflation and 3.63% rural inflation.
The CPI data released by MoSPI on 13 April 2026 for March 2026 uses which base year?
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Correct answer: D — 2024
The release is for the Consumer Price Index on base 2024=100.
Which item recorded the highest year-on-year inflation at the All India combined level in March 2026 (CPI base 2024)?
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Correct answer: A — Silver jewellery
Silver jewellery topped at 148.61%, followed by gold/diamond/platinum jewellery (45.92%), copra (45.52%) and tomato (35.99%).
Under its MoU with the Labour Ministry, Porter aims to generate how many logistics and driving opportunities by 2030?
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Correct answer: D — Over 30 lakh
Porter targets the creation of over 30 lakh opportunities by 2030.
According to the Labour Minister in April 2026, roughly how many establishments are registered on the National Career Service portal?
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Correct answer: C — 59 lakh
Nearly 59 lakh establishments have registered on NCS; 7 lakh is the number of active vacancies.
According to the Fisheries Minister at the Seafood Exporters Meet 2026, India's seafood exports this year are approximately:
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Correct answer: D — ₹68,000 crore
Exports grew from ₹62,000 crore last year to about ₹68,000 crore this year.
Consider the following statements about India's seafood exports as stated at the Seafood Exporters Meet 2026: 1. Growth was driven largely by strong performance in non-US markets. 2. The net increase over last year was about ₹6,000 crore. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Both statements are correct as per the Ministry of Fisheries, Animal Husbandry and Dairying.
What is the notified threshold value for haematite iron ore, below which mined material can be discarded as waste?
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Correct answer: C — 45% Fe (min.)
The notified threshold value for haematite iron ore is 45% Fe (min.).
Under the Mineral Concession (Third Amendment) Rules, 2026, the average sale price of haematite iron ore of 35% to below 45% Fe grade will be what percentage of the ASP of the 45% to below 51% Fe grade?
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Correct answer: B — 75%
For 35% to below 45% Fe, the ASP is 75% of the ASP of the 45% to below 51% Fe grade; for below 35% Fe, it is 50%.
Consider the following statements about the April 2026 amendment to the Mineral Concession rules: 1. Banded Haematite Quartzite (BHQ) and Banded Haematite Jasper (BHJ) are covered by the new ASP methodology. 2. If processing of run-of-mine lowers its economic value, royalty is charged on lumps and fines after initial screening of unprocessed run-of-mine. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Both statements are correct as per the Ministry of Mines.
According to MoSPI's April 2026 pilot study, about how many households undertook own-account construction for their own use during the 365-day reference period?
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Correct answer: B — 98.54 lakh
An estimated 98.54 lakh households undertook own-account construction; 10.27 lakh is the number of unincorporated construction agencies.
Consider the following statements about MoSPI's pilot study on unincorporated construction: 1. About 77% of unincorporated construction agencies engaged at least one hired worker on a fairly regular basis. 2. Nearly 23% of rural households doing own-account construction availed institutional funding. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Both statements are correct as per MoSPI.
The Ministry of Cooperation's 7th National Review Conference, held on 9–10 April 2026, took place in:
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Correct answer: A — Varanasi
The conference was held in Varanasi, Uttar Pradesh.
At the 7th National Review Conference of the Ministry of Cooperation in April 2026, which body outlined expanded financing support for FPOs, fisheries and emerging cooperative sectors?
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Correct answer: C — National Cooperative Development Corporation
The NCDC outlined expanded financing support for FPOs, fisheries and emerging cooperative sectors.
The Financial Intelligence Unit-India (FIU-IND) signed an MoU announced on 9 April 2026 with which body to combat cyber fraud and financial crimes?
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Correct answer: C — Indian Cyber Crime Coordination Centre (I4C)
The Finance Ministry said FIU-IND and the Indian Cyber Crime Coordination Centre (I4C) signed the MoU.
Consider the following statements: 1. The Indian Cyber Crime Coordination Centre (I4C) is an attached office of the Ministry of Finance. 2. FIU-IND is the central national agency for receiving, processing, analysing and disseminating information on suspect financial transactions. Which of the statements given above is/are correct?
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Correct answer: B — 2 only
Statement 1 is wrong: I4C is an attached office of the Ministry of Home Affairs. Statement 2 is correct as per the Finance Ministry release.
Under which operation did the DRI seize about 29.37 kg of gold from 24 women carriers at Mumbai airport in April 2026?
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Correct answer: D — Operation Dhahabu Blitz
The Finance Ministry said the 24 foreign nationals were intercepted under Operation Dhahabu Blitz.
The women carriers intercepted in Operation Dhahabu Blitz at Mumbai airport had arrived from which city?
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Correct answer: B — Nairobi
The DRI said the group of female carriers was arriving from Nairobi.
What is the outlay of the Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets?
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Correct answer: B — ₹7,280 crore
The Ministry of Heavy Industries said the scheme has an outlay of ₹7,280 crore.
Consider the following statements about the rare earth permanent magnet scheme: 1. The government will select a maximum of five entities through bidding. 2. Each selected entity can set up facilities of up to 1,200 MTPA, adding up to a maximum of 6,000 MTPA. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Both are correct: MHI said at most five entities will be selected, each with up to 1,200 MTPA, for a total of up to 6,000 MTPA.
The rare earth permanent magnet facilities sought under the ₹7,280 crore scheme are for which type of magnet?
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Correct answer: D — Sintered NdFeB
The RFP is for integrated sintered NdFeB (neodymium–iron–boron) rare earth permanent magnet manufacturing facilities.
Which two cooperatives were congratulated by Amit Shah on 7 April 2026 for crossing ₹1 lakh crore annual turnover in 2025–26?
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Correct answer: A — Saraswat Cooperative Bank and Amul
The Ministry of Cooperation said Shah congratulated Saraswat Cooperative Bank and Amul.
In which financial year did Saraswat Cooperative Bank and Amul cross ₹1 lakh crore in annual turnover, as per the Ministry of Cooperation?
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Correct answer: B — 2025–26
Amit Shah's message refers to crossing the ₹1 lakh crore annual turnover mark in 2025–26.
The CCI case on bid-rigging in Assam Police Housing Corporation's electrification tenders arose from a complaint by which office?
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Correct answer: C — Office of the Accountant General (Audit), Assam
CCI said the proceedings arose out of a complaint dated 10 August 2020 from the Office of the Accountant General (Audit), Assam.
In its order of 7 April 2026 on the Assam Police Housing tenders, the CCI found the parties in violation of which provision of the Competition Act, 2002?
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Correct answer: D — Section 3(3)(d) read with Section 3(1)
CCI found bid-rigging in violation of Section 3(3)(d) read with Section 3(1), and issued its cease-and-desist direction under Section 27.
Consider the following statements about the CCI order of 7 April 2026: 1. The cease-and-desist direction was issued under Section 27 of the Competition Act, 2002. 2. The tenders in question were floated by the Assam Public Works Department. 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 tenders were invited by the Assam Police Housing Corporation Limited.
Which body launched the first-ever Annual Survey of Incorporated Services Sector Enterprises (ASISSE) in April 2026?
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Correct answer: D — National Statistics Office, MoSPI
MoSPI said the National Statistics Office (NSO) launched the first-ever ASISSE.
Which database is used as the sampling frame for the Annual Survey of Incorporated Services Sector Enterprises (ASISSE)?
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Correct answer: B — GSTN database
MoSPI said the survey uses the GSTN database as its sampling frame.
Consider the following statements about ASISSE: 1. Its reference period is the financial year 2024-25. 2. It covers unincorporated non-agricultural enterprises, which were earlier covered by the Annual Survey of Industries. 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: ASISSE covers incorporated enterprises (companies and LLPs); unincorporated enterprises are covered by ASUSE, and the ASI covers registered manufacturing.
What cumulative Gross Merchandise Value (GMV) did the Government e Marketplace (GeM) report on 6 April 2026?
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Correct answer: A — ₹18.4 lakh crore
The Commerce Ministry said GeM achieved a cumulative GMV of ₹18.4 lakh crore; over ₹5 lakh crore was in 2025-26 alone.
What share of total orders on GeM in 2025-26 was executed by Micro and Small Enterprises (MSEs)?
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Correct answer: B — 68%
The ministry said MSEs executed 68% of total orders, accounting for 47.1% of GMV.
What was the Department of Social Justice and Empowerment's highest-ever expenditure in 2025-26?
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Correct answer: A — ₹11,810.82 crore
Dr Virendra Kumar said the department spent ₹11,810.82 crore in 2025-26; ₹10,409 crore was the 2024-25 figure.
By roughly what percentage did the Department of Social Justice and Empowerment's expenditure grow in 2025-26 over 2024-25?
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Correct answer: C — Nearly 14%
The ministry said the increase was nearly 14% over the ₹10,409 crore spent in 2024-25.
What was the value of India's marine product exports in 2024-25, as per the Department of Fisheries?
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Correct answer: D — ₹62,408 crore
The department said marine exports rose to ₹62,408 crore in 2024-25; ₹43,334 crore was the shrimp component and ₹30,213 crore the 2013-14 figure.
Which country was the largest destination for India's seafood exports in 2024-25?
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Correct answer: A — United States
The United States accounted for 36.42% of total export value in 2024-25.
What was India's fish production in 2024-25, according to the Department of Fisheries?
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Correct answer: B — 197.75 lakh tonnes
Fish production rose from 141.64 lakh tonnes in 2019-20 to 197.75 lakh tonnes in 2024-25.
What was coal production from captive and commercial mines in FY 2025-26?
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Correct answer: D — 210.46 MT
The Coal Ministry said production reached 210.46 MT; 204.61 MT was dispatch and 190.95 MT the previous year's production.
How many captive and commercial coal blocks were operationalised through Mine Opening Permission in FY 2025-26?
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Correct answer: B — 12
12 blocks were operationalised, adding over 86 MT of capacity; 7 blocks began production within the year.
Till which date has the full customs duty exemption on critical petrochemical products, announced on 2 April 2026, been granted?
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Correct answer: C — 30 June 2026
The Finance Ministry said the exemption is till 30 June 2026.
Consider the following statements about the customs duty exemption on critical petrochemicals announced on 2 April 2026: 1. It is a permanent reduction in customs duty. 2. Methanol (methyl alcohol) is among the products covered. Which of the statements given above is/are correct?
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Correct answer: B — 2 only
Only 2 is correct. The ministry called it temporary and targeted relief valid till 30 June 2026, and methanol is listed in the annexure.
On which date did the Income-tax Act, 2025 receive the President's assent?
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Correct answer: C — 21 August 2025
The Finance Ministry said the Bill was passed by Parliament on 12 August 2025 and received assent on 21 August 2025; the Rules were notified on 20 March 2026 and the Act came into force on 1 April 2026.
Consider the following statements about the Income-tax Act, 2025: 1. It replaces the Income-tax Act, 1961. 2. It alters the underlying tax policy to introduce new tax rates. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Only 1 is correct. The ministry said the Act simplifies the law without altering the underlying tax policy.
Which body notified the Income-tax Rules, 2026 to operationalise the Income-tax Act, 2025?
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Correct answer: B — Central Board of Direct Taxes
The Income-tax Rules, 2026 were notified by the Central Board of Direct Taxes on 20 March 2026.
On which date was the Reserve Bank of India established?
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Correct answer: A — 1 April 1935
The RBI says it was established on 1 April 1935 under the Reserve Bank of India Act, 1934.
Consider the following statements about the Reserve Bank of India: 1. Its Central Office was initially established in Kolkata and moved permanently to Mumbai in 1937. 2. It has been fully owned by the Government of India since its nationalisation in 1949. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Both are correct as per the RBI's 'About Us' page.
The Reserve Bank of India was established in accordance with the provisions of which Act?
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Correct answer: B — Reserve Bank of India Act, 1934
The RBI was established under the Reserve Bank of India Act, 1934.
Under the concessional customs duty notified on 1 April 2026, SEZ units can clear goods to the Domestic Tariff Area up to what limit?
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Correct answer: C — 30% of the highest annual FOB export value in the preceding three years
The cap is 30% of the highest annual free-on-board export value achieved in any of the three immediately preceding financial years.
What minimum value addition within the SEZ is required to avail the concessional duty on SEZ-to-DTA clearances?
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Correct answer: B — 20%
The notification prescribes a minimum 20% value addition within the SEZ.
What capital outlay for the Defence Services did the Ministry of Defence fully utilise in FY 2025-26 (Revised Estimates)?
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Correct answer: B — ₹1.86 lakh crore
The ministry fully utilised ₹1.86 lakh crore at the RE stage; ₹1.80 lakh crore was the original appropriation.
What was the overall utilisation of the defence budget, including MoD (civil) and pensions, in FY 2025-26?
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Correct answer: A — 99.62%
The ministry said overall utilisation stood at 99.62% against the final allocation.
Up to which date has the RoSCTL scheme for apparel and made-ups exports been extended?
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Correct answer: D — 30 September 2026
The Ministry of Textiles extended RoSCTL up to 30 September 2026 or until approval for the 16th Finance Commission cycle, whichever is earlier.
Since when has the Rebate of State and Central Taxes and Levies (RoSCTL) scheme been operational?
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Correct answer: A — 7 March 2019
The ministry said RoSCTL has been operational since 7 March 2019.
In March 2026, the Prime Minister inaugurated the semiconductor plant of which Indian company at Sanand, Gujarat?
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Correct answer: D — Kaynes Technology
On 31 March 2026 the PM inaugurated the Kaynes Technology semiconductor plant at Sanand, Gujarat.
Which product does the Kaynes semiconductor facility at Sanand supply to a California-based company?
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Correct answer: A — Intelligent Power Modules
The facility supplies Intelligent Power Modules to a California-based company, with a large share of output booked for export.
In which year was the India Semiconductor Mission launched?
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Correct answer: C — 2021
The PM recalled that the India Semiconductor Mission was launched in 2021.
Consider the following statements about India's semiconductor push as stated on 31 March 2026: 1. Production at the Micron plant in Sanand started on 28 February 2026. 2. Under the India Semiconductor Mission, 10 projects worth over ₹1.6 lakh crore are under way across six states. Which of the above is/are correct?
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Correct answer: C — Both 1 and 2
The PM said he was in Sanand on 28 February for the start of production at the Micron plant, and that 10 projects worth over ₹1,60,000 crore are under way in six states.
How many Advance Pricing Agreements (APAs) did the CBDT sign in FY 2025-26?
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Correct answer: C — 219
The CBDT entered into a record 219 APAs in FY 2025-26 (174 in the previous year and 125 the year before).
With which of the following countries did India sign its first-ever bilateral APA in FY 2025-26?
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Correct answer: D — Sweden
FY 2025-26 saw India's first-ever bilateral APAs with France, Ireland, Indonesia and Sweden.
Consider the following statements about India's APA programme (as of March 2026): 1. The total number of APAs since inception is 1,034. 2. Bilateral APAs outnumber unilateral APAs in the total. Which of the above is/are correct?
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Correct answer: A — 1 only
The total is 1,034 APAs, comprising 750 unilateral and 284 bilateral APAs, so unilateral APAs are more.
From 1 April 2026, CBIC removed which value cap per consignment on courier exports?
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Correct answer: B — ₹10 lakh
The existing ₹10 lakh value limit per consignment for courier exports was completely removed from 1 April 2026.
Under CBIC's new Return to Origin (RTO) mechanism, uncleared courier imports will be returned after how many days?
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Correct answer: C — 15 days
Uncleared courier imports beyond 15 days are to be returned through a simplified RTO process.
The 14th Ministerial Conference (MC14) of the WTO, which concluded on 30 March 2026, was held in:
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Correct answer: A — Yaoundé, Cameroon
MC14 was held in Yaoundé, Cameroon, and concluded on 30 March 2026.
Who led the Indian delegation at the WTO's MC14?
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Correct answer: D — Piyush Goyal
Union Commerce and Industry Minister Piyush Goyal led the Indian delegation to MC14.
At MC14, India did not agree to incorporating which agreement into the WTO framework as an Annex 4 agreement?
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Correct answer: A — Investment Facilitation for Development Agreement
India did not agree to incorporation of the Investment Facilitation for Development (IFD) Agreement as an Annex 4 agreement.
Consider the following statements about the outcomes of WTO MC14: 1. Members reached convergence on extending the moratorium on customs duties on electronic transmissions. 2. Ministers agreed to continue fisheries subsidies negotiations with the aim of making recommendations to MC15. Which of the above is/are correct?
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Correct answer: B — 2 only
Convergence could not be reached on the e-commerce moratorium; ministers agreed to continue fisheries subsidies negotiations aiming at recommendations to MC15.
What was India's IIP growth rate for February 2026 as per the Quick Estimate released on 30 March 2026?
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Correct answer: B — 5.2%
IIP grew 5.2% in February 2026 (4.8% in January 2026); manufacturing grew 6.0% and mining 3.1%.
Which of the three IIP sectors recorded the lowest growth in February 2026?
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Correct answer: A — Electricity
Growth in February 2026: mining 3.1%, manufacturing 6.0%, electricity 2.3% – electricity was the lowest.
Under the Mineral (Auction) Second Amendment Rules, 2026, a non-feasible portion of a mineral block can be excluded if it contains less than what share of the block's estimated mineral resources?
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Correct answer: C — 25%
The rules allow exclusion of non-feasible portions holding less than 25% of the block's total estimated resources.
Consider the following statements about the Mineral (Auction) Second Amendment Rules, 2026: 1. For blocks auctioned after 30 March 2026, the additional two-year period for executing a mining lease is available to all blocks regardless of forest land. 2. A unified mining portal will issue the letter of intent automatically on receipt of the first instalment of upfront payment and/or performance security. Which of the statements given above is/are correct?
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Correct answer: B — 2 only
Only 2 is correct. The extra two years beyond the initial three is now allowed only for blocks involving forest land.
On which date did the Ministry of Mines notify the Mineral (Auction) Second Amendment Rules, 2026?
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Correct answer: D — 30 March 2026
The rules were notified on 30 March 2026; the previous amendment to the Auction Rules was on 17 October 2025, and the MMDR Amendment Act, 2025 took effect on 1 September 2025.
Under the Mineral Concession (Second Amendment) Rules, 2026, the one-time addition of contiguous area to a mining lease for deep-seated minerals cannot exceed what share of the existing area?
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Correct answer: A — 10%
The Ministry of Mines said the contiguous area cannot exceed 10% for a mining lease and 30% for a composite licence.
Consider the following statements about the Mineral Concession (Second Amendment) Rules, 2026: 1. State governments must permit inclusion of an associated mineral in a mining lease within 30 days of the application. 2. Future mining leases for minor minerals other than sand will be granted only after exploration up to G3 level. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Both are correct as per the Ministry of Mines release.
On 30 March 2026, how many more proposals were approved under the Electronics Component Manufacturing Scheme (ECMS)?
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Correct answer: B — 29
MeitY approved 29 more proposals under ECMS, after 46 applications approved earlier.
The ECMS approvals of 30 March 2026 include India's first facility for which of the following?
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Correct answer: C — Rare earth permanent magnets
The approvals include India's first SMD passive plant for tantalum capacitors, first flexible PCB plant and first rare earth permanent magnet facility.
The 29 ECMS proposals approved on 30 March 2026 are expected to generate how many direct jobs?
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Correct answer: B — 14,246
The approvals are expected to generate 14,246 direct jobs, with projected investment of ₹7,104 crore and production of ₹84,515 crore.