Economy Current Affairs Quiz — All time
Daily news by your exam, state and topic — each with a short summary, key facts and MCQs.
What is the total outlay of the PLI Scheme for White Goods (air conditioners and LED lights), launched in April 2021?
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Correct answer: B — ₹6,238 crore
PIB: the PLI Scheme for White Goods was launched in April 2021 with a total outlay of ₹6,238 crore.
The PLI Scheme for White Goods, whose Round 4 window was extended to 10 November 2025, covers which products?
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Correct answer: C — Air conditioners and LED lights
PIB: Round 4 of the PLI Scheme for White Goods (Air Conditioners and LED Lights) was extended till 10 November 2025.
Which State is ranked first in Category A of the State Mining Readiness Index released by the Ministry of Mines in October 2025?
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Correct answer: A — Madhya Pradesh
PIB: the top three in Category A are Madhya Pradesh, Rajasthan and Gujarat.
Which States are the top three in Category C of the State Mining Readiness Index?
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Correct answer: B — Punjab, Uttarakhand and Tripura
PIB: in Category C, the top three ranks were obtained by Punjab, Uttarakhand and Tripura; Goa, Uttar Pradesh and Assam top Category B.
Consider the following statements about the State Mining Readiness Index (SMRI): 1. Its release fulfils an announcement made in the Union Budget 2025-26. 2. Its indicators pertain mainly to coal and lignite blocks. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Only 1 is correct. PIB: SMRI fulfils the Union Budget 2025-26 announcement; its indicators — auction performance, early mine operationalisation, exploration and sustainable mining — pertain to non-coal minerals.
When was the Framework Agreement between India and MERCOSUR, recalled in the India–Brazil Joint Declaration of October 2025, signed?
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Correct answer: B — 17 June 2003
PIB: the Joint Declaration recalled the Framework Agreement signed between India and MERCOSUR on 17 June 2003.
Who signed the Joint Declaration on deepening the MERCOSUR–India trade agreement with Piyush Goyal on 16 October 2025?
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Correct answer: C — Geraldo Alckmin, Vice President of Brazil
PIB: the Vice President of Brazil and Minister of Development, Industry, Trade and Services, Geraldo Alckmin, and Piyush Goyal issued the Joint Declaration.
Consider the following statements about the India–Brazil Joint Declaration on the MERCOSUR–India PTA (October 2025): 1. The parties should endeavour to conclude negotiations within one year from their launch. 2. A meeting of the Joint Administration Committee created under Article 23 of the PTA is to help define the scope of the expansion. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Both are correct. PIB: the parties should endeavour to conclude negotiations within one year; the next step includes a meeting of the Joint Administration Committee under Article 23 of the PTA to define the scope.
NMDC Steel Limited became the first company in India to receive a BIS licence in October 2025 for which product?
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Correct answer: B — Hot-rolled steel for welded steel pipes for pipeline transportation
PIB: NMDC Steel became the first company to receive an IS licence for 'Hot Rolled Steel Strip, Sheet, and Plates for Welded Steel Pipe for Pipeline Transportation Systems'.
Under which Indian Standard did NMDC Steel receive its first-in-India BIS licence in October 2025?
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Correct answer: A — IS 18384:2023
PIB: the IS 18384:2023 certification marks a benchmark for steel products for pipeline transportation systems in the petroleum and natural gas industry.
According to the PLFS Monthly Bulletin for September 2025, what was the overall labour force participation rate for persons aged 15 years and above?
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Correct answer: B — 55.3%
PIB: overall LFPR reached a five-month high of 55.3% in September 2025. 52.4% is the WPR and 57.4% the rural LFPR.
What was the female labour force participation rate (age 15+) in September 2025, as per PLFS?
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Correct answer: D — 34.1%
PIB: female LFPR in September 2025 was 34.1%, the highest since May 2025, up from 32.0% in June 2025.
Consider the following statements about the PLFS Monthly Bulletin for September 2025: 1. The unemployment rate for persons aged 15 and above rose marginally to 5.2% from 5.1% in August 2025. 2. The PLFS methodology was modified from January 2025 to provide monthly and quarterly estimates. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Both are correct. PIB: UR climbed marginally to 5.2% in September from 5.1% in August 2025; the PLFS methodology was modified from January 2025 to give monthly and quarterly estimates.
India's total exports (merchandise and services) in April–September 2025 were estimated at about how much?
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Correct answer: D — US$ 413.30 billion
PIB (Commerce): total exports during April–September 2025 were estimated at US$ 413.30 billion, up 4.45%. US$ 220.12 billion was merchandise exports alone.
As noted by the Department of Commerce, the IMF's October 2025 World Economic Outlook projected India's GDP growth for 2025 at:
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Correct answer: B — 6.6%
PIB: India's GDP growth is projected to reach 6.6 percent in 2025, followed by 6.2 percent in 2026, as per the October 2025 IMF WEO update.
Consider the following statements about India's trade data released on 15 October 2025: 1. Merchandise exports in April–September 2025 grew 3.02% to US$ 220.12 billion. 2. Electronic goods exports in September 2025 rose 50.54% over September 2024. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Both are correct. PIB: merchandise exports in April–September 2025 were US$ 220.12 billion (+3.02%); electronic goods exports rose 50.54% from US$ 2.07 billion to US$ 3.12 billion in September 2025.
Where was the State Tourism Ministers' Meet on 'One State: One Global Destination' held on 14–15 October 2025?
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Correct answer: D — Udaipur
PIB: the Ministry of Tourism concluded a two-day State Tourism Ministers' Meet in Udaipur, held from October 14–15.
The 'One State: One Global Destination' vision, discussed at the Udaipur meet, was announced in which document?
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Correct answer: A — Union Budget 2025-26
PIB: 'One State: One Global Destination' is a cornerstone initiative announced in the Union Budget 2025-26, aiming at least one globally benchmarked destination in every State and UT.
In October 2025 Google announced its first AI Hub in India, with an investment of about US$ 15 billion, in which city?
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Correct answer: C — Visakhapatnam
PIB: Google announced the establishment of an AI Hub in Visakhapatnam (Vizag), Andhra Pradesh, with an investment of approximately USD 15 billion over five years.
Google's Visakhapatnam AI Hub investment of about US$ 15 billion is spread over which period?
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Correct answer: A — 2026–2030
PIB: the investment of approximately USD 15 billion is over five years (2026–2030).
Consider the following statements about the Google AI Hub announced in October 2025: 1. It includes a new international subsea gateway with multiple cables landing at Visakhapatnam. 2. The data centre campus is being developed with partners including AdaniConnex and Airtel. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Both are correct. PIB: the investment includes a new international subsea gateway with multiple international subsea cables landing in Visakhapatnam, and the campus is developed with partners including AdaniConnex and Airtel.
Before the Ministry of Mines' October 2025 notification, which use of limestone made it a minor mineral?
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Correct answer: B — Limestone used in kilns for manufacture of lime used as building material
PIB: 'Limestone used in kilns for manufacture of lime used as building material' had been notified as a minor mineral; the 10 October 2025 notification deleted it from the minor minerals category.
Consider the following statements about the reclassification of limestone in October 2025: 1. It followed recommendations of an Inter-Ministerial Committee chaired by the Secretary, Ministry of Mines. 2. Existing minor-mineral limestone lessees have until 31 March 2026 to register with the Indian Bureau of Mines. Which of the statements given above is/are correct?
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Correct answer: B — 2 only
Only 2 is correct. PIB: the Inter-Ministerial Committee on the Mines & Minerals Sector was chaired by a Member of NITI Aayog, not the Mines Secretary; existing minor-mineral lessees are allowed till 31 March 2026 to register with IBM.
Under which mechanism did India Post resume international postal services to the USA from 15 October 2025?
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Correct answer: D — Delivery Duty Paid (DDP)
PIB: India Post has established a compliant mechanism for Delivery Duty Paid (DDP) processing, under which applicable customs duties are prepaid in India.
As per US CBP guidelines cited by India Post in October 2025, customs duty on postal shipments from India to the USA is levied at:
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Correct answer: A — A flat 50% of the declared FOB value
PIB: customs duty on postal shipments from India to the USA is applicable at a flat rate of 50% of the declared FOB value under the IEEPA tariff; no additional base or product-specific duties apply.
What was India's annual WPI-based inflation rate (provisional) for September 2025?
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Correct answer: B — 0.13%
PIB (DPIIT): the annual rate of inflation based on WPI is 0.13% (provisional) for September 2025. (-)1.99% is the WPI Food Index inflation and (-)0.58% the July final figure.
In the Wholesale Price Index (base 2011-12), which major group carries the highest weight?
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Correct answer: C — Manufactured Products
PIB (DPIIT): Manufactured Products have a weight of 64.23%, Primary Articles 22.62% and Fuel & Power 13.15%.
Under its October 2025 MoU with the Labour Ministry, about how many flexible livelihood opportunities will Zomato list annually on the National Career Service portal?
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Correct answer: B — 2.5 lakh
PIB: under the new 'Aggregator' category, Zomato will list around 2.5 lakh flexible livelihood opportunities annually on the NCS portal.
Consider the following statements made by the Labour Ministry in October 2025: 1. The National Career Service portal was launched in 2020 and has mobilised over 7.7 crore vacancies. 2. India's social security coverage rose from 19% in 2015 to 74.3% in 2025. Which of the statements given above is/are correct?
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Correct answer: D — Neither 1 nor 2
Neither is correct. PIB: the NCS portal was launched in 2015 (not 2020) and has mobilised over 7.7 crore vacancies; social security coverage rose from 19% in 2015 to 64.3% (not 74.3%) in 2025, reaching 94 crore citizens.
India's headline CPI inflation for September 2025 (1.54%) was the lowest since:
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Correct answer: B — June 2017
PIB (MoSPI): headline inflation of 1.54% in September 2025 is the lowest year-on-year inflation after June 2017.
What was the all-India food inflation based on the Consumer Food Price Index (CFPI) in September 2025?
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Correct answer: D — -2.28%
PIB (MoSPI): CFPI-based food inflation for September 2025 is -2.28% (provisional); -2.17% and -2.47% are the rural and urban figures.
Consider the following statements about the CPI release for September 2025: 1. The housing index used in CPI is compiled for the urban sector only. 2. Urban headline inflation was lower than rural headline inflation in September 2025. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Only 1 is correct. PIB: the housing index is compiled for the urban sector only; urban headline inflation (2.04%) was higher than rural (1.07%).
Who chairs the Technical Expert Group constituted by MoSPI to guide the National Household Income Survey 2026?
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Correct answer: B — Dr Surjit S. Bhalla
PIB: MoSPI constituted a Technical Expert Group under the Chairmanship of Dr Surjit S. Bhalla, former Executive Director of India, IMF.
When is the National Household Income Survey (NHIS), India's first pan-India household income survey, scheduled to be launched?
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Correct answer: D — February 2026
PIB: the National Household Income Survey is scheduled to be launched in February 2026 and will be the first-ever pan-India survey focused on household income.
In October 2025, Amit Shah performed the ground-breaking in Jaipur for investment proposals worth how much in Rajasthan?
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Correct answer: B — ₹4 lakh crore
PIB: Amit Shah performed the ground-breaking for investment proposals worth ₹4 lakh crore in Jaipur. ₹35 lakh crore is the total MoUs signed and ₹7 lakh crore the amount grounded.
According to Amit Shah in Jaipur in October 2025, Rajasthan's conviction rate after implementation of the three new criminal laws rose from 42% to:
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Correct answer: C — 60%
PIB: after the implementation of the three new laws, the conviction rate in Rajasthan has gone up from 42% to 60%, and is expected to reach 90% once fully implemented.
Under the 'Vishwas Scheme' approved by EPFO's CBT in October 2025, penal damages for delayed PF remittance (beyond 4 months) are set at:
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Correct answer: B — A flat rate of 1% per month
PIB: under Vishwas Scheme the rate of penal damages will be a flat 1% per month, except graded rates of 0.25% for default up to 2 months and 0.50% up to 4 months.
Consider the following statements about the partial withdrawal changes approved at the 238th CBT meeting: 1. Members can withdraw up to 100% of the eligible balance, including the employer's share. 2. The minimum service requirement for all partial withdrawals has been reduced to 12 months. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Both are correct. PIB: members can withdraw up to 100% of the eligible balance including employee and employer share, and the minimum service requirement has been uniformly reduced to 12 months for all partial withdrawals.
How many earlier partial-withdrawal provisions of the EPF Scheme were merged into a single rule by the CBT in October 2025?
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Correct answer: A — 13
PIB: CBT simplified partial withdrawals by merging 13 complex provisions into a single rule under three categories.
What was the Ministry of Defence's total capital allocation for FY 2025-26, of which it had used over 50% by September 2025?
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Correct answer: B — Rs 1,80,000 crore
PIB: capital expenditure stood at Rs 92,211.44 crore (51.23%) out of the total allocation of Rs 1,80,000 crore. Rs 1,59,768.40 crore was the previous year's fully used capex.
According to the MoD, on which category was the majority of its capital expenditure in FY 2025-26 (till September) incurred?
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Correct answer: B — Aircraft and aero engines
PIB: the majority of the expenditure has been on aircraft and aero engines, followed by land systems, electronic warfare equipment, armaments and projectiles.
The GI-tagged Mizo Bird's Eye Chilli is mainly grown in which districts of Mizoram?
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Correct answer: D — Lunglei, Siaha and Lawngtlai
PIB: the Mizo Bird's Eye Chilli is mainly grown in the districts of Lunglei, Siaha and Lawngtlai.
Under the GST rationalisation, what is the new GST rate on processed Mizo Bird's Eye Chilli, ginger and turmeric?
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Correct answer: B — 5%
PIB: GST cut from 18% to 5% on processed Mizo Bird's Eye Chilli, ginger and turmeric.
According to a PIB explainer of October 2025, tourism contributes about what share of Goa's GSDP?
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Correct answer: D — 16.43%
PIB: tourism contributes 16.43% to the state's GSDP; about 40% is the tourism sector's share of Goa's workforce.
In 2023-24, which sector accounted for 51% of Goa's total merchandise exports?
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Correct answer: B — Drugs and pharmaceuticals
PIB: in 2023-24, drugs and pharmaceuticals made up 51% of Goa's total merchandise exports.
Consider the following statements about GI-tagged products of Goa mentioned in the October 2025 GST explainer: 1. The Khola chilli is cultivated and processed in Canacona. 2. The Harmal chilli is cultivated in the Moira area of Bardez. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Only 1 is correct. PIB: Khola chilli comes from Canacona (Khola); Harmal (Pernem) chilli is grown in the Harmal–Arambol region of Pernem, while Moira (Bardez) is known for the Myndoli banana.
On which date did the India–EFTA Trade and Economic Partnership Agreement (TEPA) come into force?
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Correct answer: D — 1 October 2025
PIB: TEPA was signed on 10 March 2024 in New Delhi and came into force on 1 October 2025.
Consider the following statements about the India–EFTA TEPA: 1. EFTA states have pledged to increase FDI in India by $50 billion in the first 10 years and by a further $50 billion in the next five years. 2. India has offered tariff concessions on 92.2% of its tariff lines. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Only 1 is correct. PIB: under Article 7.1, EFTA pledged $50 billion FDI in the first 10 years and another $50 billion in the next five; it is EFTA that offers concessions on 92.2% of tariff lines — India offers 82.7%.
Consider the following statements about the Research, Development and Innovation (RDI) scheme: 1. The Union Cabinet approved the ₹1 lakh crore RDI Fund on 1 July 2025. 2. The Special Purpose Fund within ANRF will invest directly in startups and industries. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Only 1 is correct. PIB: the Cabinet approved the ₹1 lakh crore RDI Fund on 1 July 2025; the Special Purpose Fund will not invest directly in industries and startups but will channel capital to second-level fund managers such as AIFs, DFIs and NBFCs.
Which department is the nodal ministry for the ₹1 lakh crore RDI scheme?
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Correct answer: D — Department of Science & Technology
PIB: the Department of Science & Technology (DST) is the nodal ministry of the RDI scheme.
What was the code name of the DRI operation that busted a gold smuggling syndicate at Mumbai's CSMI Airport in October 2025?
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Correct answer: C — Operation Golden Sweep
PIB: the DRI operation code-named 'Operation Golden Sweep' seized 10.488 kg of gold worth about ₹12.58 crore and arrested 13 people.
Consider the following statements about 'Operation Golden Sweep': 1. Those arrested included six Bangladeshi nationals. 2. Transit passengers hid gold in egg-shaped wax capsules inside their bodies and handed it to airport staff in the international departure area. Which of the statements given above is/are correct?
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Correct answer: B — 2 only
Only 2 is correct. PIB: the 13 arrested included two Bangladeshi and six Sri Lankan nationals (not six Bangladeshis); transit passengers concealed gold in egg-shaped wax capsules inside their bodies and passed it to complicit staff in the international departure area.
After the recent GST reforms, what is the GST rate on tendu leaves, according to the PIB explainer on Jharkhand (October 2025)?
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Correct answer: B — 5%
PIB: the GST rate on tendu leaves has been reduced from 18% to 5%, and on bamboo from 12% to 5%.
Consider the following statements from the PIB explainer on GST reforms and Jharkhand (October 2025): 1. Jharkhand accounts for nearly 26% of India's total iron ore reserves. 2. GST on iron has been reduced from 18% to 5%. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Only 1 is correct. PIB: Jharkhand accounts for nearly 26% of India's iron ore reserves; GST on iron was cut from 12% (not 18%) to 5%.
According to NITI Aayog's tax working paper of October 2025, the Income-tax Act, 2025 continues to criminalise how many actions and omissions?
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Correct answer: B — 35 across 13 provisions
PIB: the paper highlights that the 2025 Act continues to criminalise 35 actions and omissions across 13 provisions, most prescribing mandatory imprisonment.
Consider the following statements about the NITI Tax Policy Working Paper Series: 1. The first paper in the series dealt with Permanent Establishment and profit attribution for foreign investors in India. 2. The second paper recommends removing criminal sanctions even for cases of fraud and wilful evasion. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Only 1 is correct. PIB: the first paper was on certainty, transparency and uniformity in Permanent Establishment and profit attribution for foreign investors; the second paper recommends restricting criminal sanctions to cases involving fraud or wilful evasion, not removing them.
According to NITI Aayog's 'Roadmap for Job Creation in the AI Economy' (October 2025), India's tech services sector could create up to how many new jobs in the next five years?
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Correct answer: D — 4 million
PIB: the roadmap says India's tech services sector has the opportunity to create up to 4 million new jobs in the next five years.
Consider the following statements about NITI Aayog's 'Roadmap for Job Creation in the AI Economy': 1. It was developed by NITI Aayog's Frontier Tech Hub in collaboration with NASSCOM and BCG. 2. It recommends launching a National AI Talent Mission. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Both are correct. PIB: the roadmap was developed by NITI's Frontier Tech Hub with NASSCOM and BCG, and recommends a National AI Talent Mission working with the IndiaAI Mission.
In which South African city was the G20 Trade & Investment Ministers' Meeting held in October 2025?
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Correct answer: C — Gqeberha
PIB: MoS Jitin Prasada participated in Day-1 proceedings of the G20 Trade & Investment Ministers' Meeting (TIMM) in Gqeberha.
Consider the following statements: 1. At the G20 TIMM in October 2025, India called for restoring a fully functional two-tier WTO dispute settlement system with an operational Appellate Body. 2. The G20 comprises 20 countries and the European Union. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Only 1 is correct. PIB: Jitin Prasada called for a fully functional two-tier dispute settlement system with an operational appellate body; the G20 comprises 19 countries, the European Union and the African Union.
After the recent GST reforms, what is the GST rate on handloom woven fabrics, according to the PIB explainer on Manipur (October 2025)?
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Correct answer: D — 5%
PIB: the GST on handloom woven fabrics was reduced from 12% to 5%, benefiting about 2.5 lakh weavers in Manipur.
Consider the following statements from the PIB explainer on GST reforms and Manipur (October 2025): 1. Around 10,000 farmers are engaged in coffee cultivation in Manipur. 2. GST on packaged coffee was reduced from 12% to 5%. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Only 1 is correct. PIB: around 10,000 farmers grow coffee in Manipur; GST on packaged coffee was cut from 18% (not 12%) to 5%.
According to PM Modi at the Global Fintech Fest 2025, India's approach to AI rests on which three principles?
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Correct answer: C — Equitable Access, Population-scale Skilling, Responsible Deployment
PIB: the PM said India's approach to AI is built on three key principles — Equitable Access, Population-scale Skilling and Responsible Deployment.
What was the central theme of the Global Fintech Fest 2025?
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Correct answer: C — Empowering Finance for a Better World – Powered by AI, Augmented Intelligence, Innovation, and Inclusion
PIB: GFF 2025's central theme is 'Empowering Finance for a Better World' – Powered by AI, Augmented Intelligence, Innovation, and Inclusion.
Under the October 2025 amendments to the PLI scheme for textiles, the minimum investment for new applicants in the Part-1 category was reduced to:
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Correct answer: B — ₹150 crore
PIB: with effect from 1 August 2025, the minimum investment for new applicants was reduced from ₹300 crore to ₹150 crore in Part-1 and from ₹100 crore to ₹50 crore in Part-2.
Consider the following statements about the amended PLI scheme for textiles: 1. The incremental turnover required to qualify for incentives has been reduced from 25% to 10%. 2. The application portal has been opened until 31 March 2026. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Only 1 is correct. PIB: from FY 2025–26 applicants need a minimum 10% incremental turnover (down from 25%); the application portal is open until 31 December 2025, not 31 March 2026.
In October 2025 the combined assets under management of NPS and Atal Pension Yojana crossed which mark?
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Correct answer: C — ₹16 lakh crore
PIB: the combined AUM of NPS and APY crossed the ₹16 lakh crore mark on 9 October 2025.
Consider the following statements about the pension sector (October 2025): 1. The combined subscriber base of NPS and APY has surpassed 9 crore. 2. PFRDA's Multiple Scheme Framework became effective from 1 April 2025. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Only 1 is correct. PIB: the subscriber base has surpassed 9 crore; the Multiple Scheme Framework is effective from 1 October 2025, not 1 April 2025.