Economy Current Affairs Quiz — All time
Daily news by your exam, state and topic — each with a short summary, key facts and MCQs.
According to NSO estimates released on 29 August 2025, India's real GDP growth in Q1 (April–June) of FY 2025-26 was:
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Correct answer: C — 7.8%
Real GDP grew 7.8% in Q1 FY 2025-26, against 6.5% in Q1 FY 2024-25; 8.8% was nominal GDP growth.
Which sector registered a contraction in real GVA in Q1 of FY 2025-26?
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Correct answer: B — Mining & Quarrying
Mining & Quarrying contracted 3.1%; utilities grew only 0.5%, while agriculture grew 3.7% and construction 7.6%.
The Q1 FY 2025-26 GDP estimates were released by:
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Correct answer: D — National Statistics Office, MoSPI
The quarterly estimates were released by the National Statistics Office under the Ministry of Statistics and Programme Implementation.
Consider the following statements about the Q1 FY 2025-26 GDP estimates: 1. The tertiary sector grew faster than manufacturing during the quarter. 2. Real private final consumption expenditure growth was higher than in Q1 of FY 2024-25. Which of the above is/are correct?
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Correct answer: A — 1 only
Statement 1 is correct: tertiary 9.3% vs manufacturing 7.7%. Statement 2 is wrong: real PFCE grew 7.0%, lower than 8.3% in Q1 FY 2024-25.
At the 20th CII India–Africa Business Conclave (29 August 2025), Piyush Goyal said India and Africa must work to double bilateral trade by:
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Correct answer: B — 2030
The Minister said India and Africa must work to double bilateral trade by 2030.
Consider the following statements based on Piyush Goyal's address at the 20th CII India–Africa Business Conclave: 1. India's exports to Africa are about USD 42.7 billion. 2. India runs a trade deficit of more than USD 20 billion with Africa. Which of the above is/are correct?
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Correct answer: A — 1 only
Statement 1 is correct. Statement 2 is wrong: trade is fairly balanced, with exports of USD 42.7 billion and imports of USD 40 billion.
MoSPI's workshop on 'Capacity Building of Coastal States on Development of Ocean Accounts' on 29 August 2025 was held in:
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Correct answer: C — Kochi
The workshop was held in Kochi, Kerala, with the Directorate of Economics and Statistics, Government of Kerala.
India's Ocean Ecosystem Accounts, discussed at MoSPI's Kochi workshop, are compiled in line with which framework?
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Correct answer: B — System of Environmental-Economic Accounting (SEEA)
MoSPI said the workshop aimed to improve compilation of Ocean Accounts in line with the SEEA framework, complementing GDP.
The India–Japan Economic Forum attended by PM Modi and PM Ishiba in Tokyo on 29 August 2025 was organised by CII and:
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Correct answer: C — Keidanren
The Forum was organised by the Confederation of Indian Industry and Keidanren (Japan Business Federation).
At the India–Japan Economic Forum (29 August 2025), PM Modi said India contributes about what share of global growth?
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Correct answer: C — 18%
The Prime Minister stated that India was contributing around 18% to global growth.
As per TRAI data as on 31 July 2025, India's overall tele-density was about:
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Correct answer: C — 86.15%
Overall tele-density was 86.15%; urban was 134.07% and rural 59.19%.
The Pradhan Mantri Jan Dhan Yojana, which completed 11 years in August 2025, was launched on:
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Correct answer: B — 28 August 2014
PMJDY was launched by Prime Minister Narendra Modi on 28 August 2014.
As per the Finance Ministry (August 2025), how many Jan Dhan accounts have been opened in 11 years?
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Correct answer: C — More than 56 crore
More than 56 crore Jan Dhan accounts have been opened, with deposits of ₹2.68 lakh crore.
What share of PMJDY accounts belong to women, according to the Finance Minister in August 2025?
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Correct answer: D — 56%
56% of PMJDY accounts are opened by women; 67% are in rural or semi-urban areas.
Consider the following statements about PMJDY as of August 2025: 1. More than 38 crore free RuPay cards have been issued to account holders. 2. Under a saturation campaign, camps are being held in each of the 2.7 lakh gram panchayats. Which of the above is/are correct?
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Correct answer: C — Both 1 and 2
Both are correct as per the Finance Ministry release of 28 August 2025.
As per the Finance Ministry, how much was credited to bank accounts under various DBT schemes during FY 2024-25 through the JAM trinity?
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Correct answer: A — ₹6.9 lakh crore
₹6.9 lakh crore was credited under DBT schemes in FY 2024-25; ₹2.68 lakh crore is the total PMJDY deposit balance.
As per MoSPI's quick estimate, India's Index of Industrial Production grew by how much in July 2025?
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Correct answer: B — 3.5%
IIP grew 3.5% in July 2025; 5.4% was manufacturing growth and 1.5% was June's IIP growth.
Consider the following statements about the IIP release of 28 August 2025: 1. The mining sector contracted in July 2025. 2. Under the revised calendar, the IIP quick estimate is released on the 12th of every month. Which of the above is/are correct?
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Correct answer: A — 1 only
Statement 1 is correct: mining fell 7.2%. Statement 2 is wrong: the quick estimate is now released on the 28th of every month.
The end-to-end semiconductor OSAT pilot line of CG Power inaugurated on 28 August 2025 is located at:
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Correct answer: B — Sanand, Gujarat
The CG Power OSAT pilot line facility was inaugurated at Sanand, Gujarat.
In semiconductor manufacturing, 'OSAT' stands for:
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Correct answer: B — Outsourced Semiconductor Assembly and Test
OSAT means Outsourced Semiconductor Assembly and Test – the back-end packaging and testing of chips.
Consider the following statements made at the inauguration of the Sanand OSAT pilot line (28 August 2025): 1. The India Semiconductor Mission has approved ten projects so far. 2. Twenty student-designed chips have been fabricated at SCL Mohali. Which of the above is/are correct?
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Correct answer: C — Both 1 and 2
Both are correct as per the MeitY release of 28 August 2025.
On 28 August 2025, the Centre extended the import duty exemption on cotton (HS 5201) till:
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Correct answer: C — 31 December 2025
The exemption, originally from 19 August to 30 September 2025, was extended till 31 December 2025.
The temporary import duty exemption on cotton, later extended in August 2025, had originally come into force on:
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Correct answer: D — 19 August 2025
The Centre had temporarily exempted cotton from import duty from 19 August 2025 till 30 September 2025.
By DGFT Notification No. 28 of 28 August 2025, the export obligation period under Advance Authorisation for products under QCOs of the Department of Chemicals & Petrochemicals was extended from 6 months to:
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Correct answer: D — 18 months
The export obligation period was enhanced from 6 months to 18 months, matching the extension already given for Textiles Ministry QCOs.
Under the restructuring approved on 27 August 2025, the lending period of the PM SVANidhi scheme has been extended till:
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Correct answer: C — 31 March 2030
The Cabinet extended the lending period of PM SVANidhi until 31 March 2030.
Under the restructured PM SVANidhi scheme (August 2025), the first-tranche loan amount has been raised to up to:
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Correct answer: A — ₹15,000
First-tranche loans rise to ₹15,000 from ₹10,000; second-tranche loans rise to ₹25,000 from ₹20,000.
What is the total outlay of the restructured PM SVANidhi scheme approved by the Cabinet in August 2025?
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Correct answer: D — ₹7,332 crore
The total outlay is ₹7,332 crore; ₹13,797 crore is the amount of loans already disbursed as of 30 July 2025.
Consider the following statements about the restructured PM SVANidhi scheme (August 2025): 1. A UPI-linked RuPay Credit Card will be provided to beneficiaries who have repaid the second loan. 2. The third-tranche loan has been raised from ₹50,000 to ₹75,000. Which of the above is/are correct?
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Correct answer: A — 1 only
Statement 1 is correct. Statement 2 is wrong: the third tranche remains unchanged at ₹50,000.
The additional US ad valorem duty on products of India imposed by Executive Order 14329, which took effect on 27 August 2025, is:
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Correct answer: B — 25%
EO 14329 imposed an additional ad valorem duty of 25 percent on imports of articles of India, effective 12:01 a.m. EDT on 27 August 2025.
According to the US Federal Register notice, the additional duty on Indian goods under Executive Order 14329 was imposed because India was:
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Correct answer: D — Directly or indirectly importing Russian Federation oil
The notice says the duty was imposed on articles of India, 'which is directly or indirectly importing Russian Federation oil'.
Consider the following statements about the US duty on Indian goods effective 27 August 2025: 1. Executive Order 14329 was issued under the International Emergency Economic Powers Act (IEEPA). 2. The new duty replaces the additional duty on Indian goods under the reciprocal-tariff order EO 14257. Which of the above is/are correct?
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Correct answer: A — 1 only
Statement 1 is correct. Statement 2 is wrong: the CBP notice says the duty applies in addition to the duty under EO 14257.
Under the CBP Federal Register notice on the additional duty on Indian goods, articles already loaded and in transit before 12:01 a.m. EDT on 27 August 2025 are exempt if entered for consumption before:
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Correct answer: C — 17 September 2025
Heading 9903.01.85 exempts such in-transit goods if entered (or withdrawn from warehouse) for consumption before 12:01 a.m. EDT on 17 September 2025.
According to the Annual Survey of Industries 2023-24, which state ranked first in terms of employment?
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Correct answer: A — Tamil Nadu
Tamil Nadu, Gujarat, Maharashtra, Uttar Pradesh and Karnataka are the top five states by employment, in that order.
As per ASI 2023-24 results released on 27 August 2025, Gross Value Added in the sector grew in current prices by:
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Correct answer: B — 11.89%
GVA grew 11.89% in current prices; output grew more than 5.80% and employment 5.92%.
Consider the following statements about the Annual Survey of Industries 2023-24: 1. Gujarat ranked first among states in terms of employment. 2. The sector added about 57 lakh jobs during 2014-15 to 2023-24. Which of the above is/are correct?
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Correct answer: B — 2 only
Statement 1 is wrong: Tamil Nadu ranked first and Gujarat second. Statement 2 is correct.
According to Union Minister Jitendra Singh (August 2025), India's bioeconomy was valued at about how much in 2024?
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Correct answer: D — $165.7 billion
India's bioeconomy grew from $10 billion in 2014 to $165.7 billion in 2024; $300 billion is the 2030 target.
India's first Biomanufacturing Institute, cited as an achievement in the first year of the BioE3 Policy, was inaugurated at:
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Correct answer: A — Mohali
The Minister highlighted the inauguration of India's first Biomanufacturing Institute at Mohali.
Which vehicle, described as Suzuki's first Made-in-India global strategic Battery Electric Vehicle, was flagged off by PM Modi at Hansalpur on 26 August 2025?
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Correct answer: B — e VITARA
The PM inaugurated and flagged off the e VITARA, Suzuki's first Made-in-India global strategic BEV.
At the Hansalpur event (August 2025), PM Modi said electric vehicles made in India would be exported to how many countries?
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Correct answer: D — 100
The PM said that starting that day, electric vehicles manufactured in India would be exported to 100 countries.
Consider the following statements made by PM Modi at Hansalpur on 26 August 2025: 1. Under a new TDSG initiative, three Japanese companies will jointly manufacture battery cells in India for the first time. 2. Land at Hansalpur was allotted to Maruti Suzuki in 2012, when he was Chief Minister of Gujarat. Which of the above is/are correct?
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Correct answer: C — Both 1 and 2
Both are correct as per the PMO release of 26 August 2025.
PM Modi, speaking at Hansalpur in August 2025, recalled that the Government of India had conferred which award on the late Osamu Suzuki?
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Correct answer: A — Padma Vibhushan
The PM said the Government of India had the honour of conferring the Padma Vibhushan upon Osamu Suzuki.
Under the revised wheat stock limits announced on 26 August 2025, the limit for traders/wholesalers has been reduced to:
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Correct answer: A — 2,000 MT
The limit for traders/wholesalers was cut from 3,000 MT to 2,000 MT, applicable until 31 March 2026.
Wheat stockists violating the revised stock limits (August 2025) face punitive action under which law?
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Correct answer: D — Essential Commodities Act, 1955
Violators are subject to punitive action under Sections 6 and 7 of the Essential Commodities Act, 1955.
As of 21 August 2025, total gross enrolments under Atal Pension Yojana had crossed:
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Correct answer: A — 8.11 crore
PFRDA said total gross enrolments under Atal Pension Yojana crossed 8.11 crore as of 21 August 2025.
According to PFRDA, what share of total Atal Pension Yojana enrolments in FY 2024-25 were women?
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Correct answer: B — 55%
PFRDA said that in FY 2024-25, 55% of total APY enrolments were women, out of more than 1.17 crore new subscribers.
In August 2025, Government e Marketplace (GeM) crossed what milestone in cumulative Gross Merchandise Value since inception?
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Correct answer: D — ₹15 lakh crore
GeM crossed ₹15 lakh crore in cumulative Gross Merchandise Value since its inception in 2016.
Government e Marketplace (GeM), the online public procurement platform that crossed ₹15 lakh crore GMV in August 2025, was started in which year?
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Correct answer: C — 2016
The Commerce Ministry stated that GeM crossed ₹15 lakh crore cumulative GMV since its inception in 2016.
The Ministerial-level India–Japan Energy Dialogue of 25 August 2025 was co-chaired on the Japanese side by the Minister of which ministry?
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Correct answer: B — Ministry of Economy, Trade and Industry
The dialogue was co-chaired by Power Minister Manohar Lal and Mr Muto Yoji, Minister of Economy, Trade and Industry of Japan.
Under the performance MoU signed with MNRE on 25 August 2025, what Revenue from Operations target has been set for IREDA for FY 2025-26?
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Correct answer: D — ₹8,200 crore
The Government set IREDA a Revenue from Operations target of ₹8,200 crore for FY 2025-26; in FY 2024-25 it achieved ₹6,743.32 crore against a ₹5,957 crore target.
With effect from which date did the Department of Posts temporarily suspend booking of most postal articles to the USA, as announced on 23 August 2025?
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Correct answer: A — 25 August 2025
The Department of Posts decided to temporarily suspend booking of all types of postal articles destined for the USA with effect from 25 August 2025, except letters/documents and gifts up to USD 100.
Under US Executive Order No. 14324, the duty-free de minimis exemption was to be withdrawn from 29 August 2025 for goods valued up to:
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Correct answer: D — USD 800
Under Executive Order No. 14324 of 30 July 2025, the duty-free de minimis exemption for goods valued up to USD 800 was to be withdrawn with effect from 29 August 2025.
Consider the following statements about India Post's suspension of postal bookings to the USA (August 2025): 1. Letters/documents and gift items up to USD 100 in value were exempted from the suspension. 2. The suspension followed US-bound air carriers expressing inability to accept postal consignments after 25 August 2025. Which of the above is/are correct?
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Correct answer: C — Both 1 and 2
Both statements are correct. Letters/documents and gifts up to USD 100 continued to be accepted, and US-bound air carriers had expressed inability to accept postal consignments after 25 August, citing lack of operational and technical readiness.
The US Executive Order of 30 July 2025 cited by India's Department of Posts for withdrawing the de minimis exemption is numbered:
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Correct answer: B — 14324
The Department of Posts took note of Executive Order No. 14324 issued by the US Administration on 30 July 2025, which withdraws the de minimis exemption from 29 August 2025.
The 11th round of India–Australia CECA negotiations, which concluded on 23 August 2025, was held in:
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Correct answer: A — New Delhi
The 11th round of India–Australia CECA negotiations was held in New Delhi from 18 to 23 August 2025.
In the context of India–Australia trade talks, what does 'CECA' stand for?
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Correct answer: C — Comprehensive Economic Cooperation Agreement
CECA stands for the India–Australia Comprehensive Economic Cooperation Agreement, whose 11th negotiating round concluded in New Delhi on 23 August 2025.
With which body did the Department of Posts sign an MoU on 22 August 2025 to distribute mutual funds through post offices?
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Correct answer: D — Association of Mutual Funds in India (AMFI)
The Department of Posts signed the MoU with the Association of Mutual Funds in India (AMFI) during AMFI's 30th Foundation Day celebration in Mumbai.
Until when is the Department of Posts–AMFI MoU signed on 22 August 2025 valid, before renewal?
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Correct answer: B — 21 August 2028
The MoU is valid for three years, from 22 August 2025 to 21 August 2028, with provisions for renewal.
Consider the following statements about the Department of Posts–AMFI MoU of August 2025: 1. It was signed in the presence of SEBI Chairman Tuhin Kanta Pandey. 2. Under it, Department of Posts staff will function as mutual fund distributors. Which of the above is/are correct?
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Correct answer: C — Both 1 and 2
Both statements are correct: the MoU was signed in the presence of SEBI Chairman Tuhin Kanta Pandey, and under it DoP staff will function as mutual fund distributors, especially in smaller towns and rural regions.
How many State Cooperative Banks are covered by UIDAI's Aadhaar authentication framework for cooperative banks launched on 21 August 2025?
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Correct answer: A — 34
The framework covers all 34 State Cooperative Banks (SCBs) and 352 District Central Cooperative Banks (DCCBs).
Consider the following statements about UIDAI's Aadhaar framework for cooperative banks (August 2025): 1. Each District Central Cooperative Bank must register separately with UIDAI as an Authentication User Agency. 2. The framework was rolled out to mark the International Year of Cooperatives. Which of the above is/are correct?
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Correct answer: B — 2 only
Statement 1 is incorrect: only State Cooperative Banks register with UIDAI as AUA/KUA, and DCCBs use the Aadhaar application and IT infrastructure of their SCBs. Statement 2 is correct: the framework was rolled out to mark the International Year of Cooperatives.
Where did India and the Eurasian Economic Union sign the Terms of Reference to launch FTA negotiations on 20 August 2025?
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Correct answer: B — Moscow
The Terms of Reference to launch negotiations on a Free Trade Agreement were signed in Moscow on 20 August 2025.
What was the India–EAEU trade turnover in 2024, as noted when the FTA Terms of Reference were signed?
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Correct answer: D — USD 69 billion
Both sides noted India–EAEU trade turnover of USD 69 billion in 2024, a 7 per cent increase over 2023.
Which of the following countries is NOT a member of the Eurasian Economic Union, with which India signed FTA Terms of Reference in August 2025?
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Correct answer: C — Uzbekistan
The EAEU comprises Armenia, Belarus, Kazakhstan, the Kyrgyz Republic and the Russian Federation; Uzbekistan is not listed among its members.
Consider the following statements about the India–EAEU FTA Terms of Reference signed in August 2025: 1. It was signed on India's behalf by Commerce and Industry Minister Piyush Goyal. 2. India and the EAEU have a combined GDP of USD 6.5 trillion. Which of the above is/are correct?
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Correct answer: B — 2 only
Statement 1 is incorrect: the ToR was signed by Ajay Bhadoo, Additional Secretary, Department of Commerce. Statement 2 is correct: the release cites a combined GDP of USD 6.5 trillion.
What net addition of members did EPFO report for June 2025, the highest since payroll tracking began?
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Correct answer: B — 21.89 lakh
EPFO's provisional payroll data for June 2025 showed a net addition of 21.89 lakh members, the highest since tracking began in April 2018.
Since when has EPFO been tracking payroll data, against which the June 2025 net addition was described as the highest?
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Correct answer: C — April 2018
The June 2025 net addition of 21.89 lakh was the highest since payroll data tracking began in April 2018.
What weight do the eight core industries carry in the items included in the Index of Industrial Production (IIP), as stated in the July 2025 core index release?
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Correct answer: A — 40.27 per cent
The Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production.
Until what date did the Government exempt raw cotton imports from all customs duties, with effect from 19 August 2025?
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Correct answer: B — 30 September 2025
The Government exempted all customs duties on the import of raw cotton with effect from 19 August 2025 until 30 September 2025.
What was the cumulative import duty on raw cotton that was removed by the exemption announced on 19 August 2025?
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Correct answer: C — 11%
The exemption removed the 5% Basic Customs Duty, the 5% AIDC and a 10% Social Welfare Surcharge on both, cumulatively an 11% import duty on cotton.
Consider the following statements about the customs duty exemption on raw cotton announced in August 2025: 1. The exemption was notified by the Directorate General of Foreign Trade (DGFT). 2. The exemption took effect from 1 September 2025. Which of the above is/are correct?
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Correct answer: D — Neither 1 nor 2
Neither statement is correct: the exemption was notified by the Central Board of Indirect Taxes and Customs (CBIC), and it took effect from 19 August 2025, running until 30 September 2025.
How many provisions does the Jan Vishwas (Amendment of Provisions) Bill, 2025 propose to decriminalise to foster Ease of Doing Business?
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Correct answer: B — 288
Of the 355 provisions proposed to be amended, 288 are to be decriminalised to foster Ease of Doing Business and 67 amended to facilitate Ease of Living.
The Jan Vishwas (Amendment of Provisions) Bill, 2025 covers how many Central Acts?
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Correct answer: D — 16
The 2025 Bill covers 16 Central Acts administered by 10 Ministries/Departments; the 2023 Act had covered 42 Central Acts.
Under the Jan Vishwas (Amendment of Provisions) Bill, 2025, the 67 amendments meant to facilitate Ease of Living are proposed under which Acts?
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Correct answer: B — NDMC Act, 1994 and Motor Vehicles Act, 1988
The Bill proposes 67 amendments under the New Delhi Municipal Council Act, 1994 (NDMC Act) and the Motor Vehicles Act, 1988 to facilitate Ease of Living.
Consider the following statements about the Jan Vishwas (Amendment of Provisions) Bill, 2025: 1. First-time contraventions in 76 offences under 10 Acts are to attract an advisory or warning. 2. The Minister requested that the Bill be referred to a Select Committee, which is to report by the first day of the next Session. Which of the above is/are correct?
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Correct answer: C — Both 1 and 2
Both statements are correct: the Bill provides an advisory or warning for first-time contraventions in 76 offences under 10 Acts, and Piyush Goyal requested the Speaker to refer it to a Select Committee that is to report by the first day of the next Session.
Consider the following statements about the Jan Vishwas legislation: 1. The Jan Vishwas (Amendment of Provisions) Act, 2023 decriminalised 183 provisions in 42 Central Acts. 2. The 2025 Bill covers Acts administered by 19 Ministries/Departments. Which of the above is/are correct?
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Correct answer: A — 1 only
Statement 1 is correct: the 2023 Act, notified on 11 August 2023, decriminalised 183 provisions in 42 Central Acts administered by 19 Ministries/Departments. Statement 2 is incorrect: the 2025 Bill covers 16 Central Acts administered by 10 Ministries/Departments.
What was the unemployment rate (Current Weekly Status, age 15 and above) for April–June 2025 as per the PLFS Quarterly Bulletin released on 18 August 2025?
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Correct answer: B — 5.4%
The Unemployment Rate in CWS for persons aged 15 years and above was 5.4% during April–June 2025; rural was 4.8% and urban 6.8%.
About how many persons aged 15 and above were employed in India during April–June 2025, according to the PLFS Quarterly Bulletin?
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Correct answer: C — 56.4 crore
On average, 56.4 crore persons aged 15 years and above were employed in the country during the April–June 2025 quarter, of whom 39.7 crore were men.
Consider the following statements about the PLFS bulletins released on 18 August 2025: 1. The April–June 2025 Quarterly Bulletin is the first in the series to provide estimates for both rural and urban areas. 2. The monthly unemployment rate rose to 5.6% in July 2025 from 5.2% in June 2025. Which of the above is/are correct?
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Correct answer: A — 1 only
Statement 1 is correct: earlier quarterly bulletins covered only urban areas, and the April–June 2025 bulletin is the first to cover both. Statement 2 is incorrect: the unemployment rate declined to 5.2% in July 2025 from 5.6% in June 2025.