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 India's all-India year-on-year CPI (retail) inflation for May 2025, released on 12 June 2025?
Show answer
Correct answer: A — 2.82%
PIB (MoSPI): all-India year-on-year inflation based on CPI for May 2025 was 2.82%, the lowest since February 2019.
Consider the following statements about the CPI data for May 2025 released on 12 June 2025: 1. All-India food inflation based on the Consumer Food Price Index (CFPI) was 0.99%. 2. This food inflation was the lowest since October 2021. Which of the statements given above is/are correct?
Show answer
Correct answer: C — Both 1 and 2
PIB (MoSPI): CFPI-based all-India food inflation for May 2025 was 0.99%, the lowest year-on-year food inflation since October 2021. So both 1 and 2 are correct.
Which of the following correctly gives rural and urban CPI inflation for May 2025?
Show answer
Correct answer: B — Rural 2.59%, Urban 3.07%
PIB (MoSPI): for May 2025, rural inflation was 2.59% and urban inflation 3.07%, so the answer is Rural 2.59%, Urban 3.07%.
The Consumer Price Index numbers (Rural, Urban and Combined) released by MoSPI for May 2025 are compiled on which base year?
Show answer
Correct answer: D — 2012=100
PIB (MoSPI) (static): the release is titled 'Consumer Price Index Numbers on Base 2012=100 for Rural, Urban and Combined', so the base is 2012=100.
According to India's national statement at the 113th International Labour Conference on 11 June 2025, what was India's social protection coverage in 2025?
Show answer
Correct answer: B — 64.3%
PIB (Labour): citing the ILO World Social Protection Report, India's social protection coverage grew from 24.4% in 2019 to 64.3% in 2025.
Consider the following statements made in India's national statement at the 113th ILC on 11 June 2025: 1. India's unemployment rate declined from 6% in 2017 to 3.2% by 2024. 2. Over 300 million unorganised workers are registered on the e-Shram portal. Which of the statements given above is/are correct?
Show answer
Correct answer: C — Both 1 and 2
PIB (Labour): the statement said unemployment fell from 6% in 2017 to 3.2% by 2024 and that over 300 million unorganised workers are registered on e-Shram. So both 1 and 2 are correct.
At which session of the International Labour Conference did Mansukh Mandaviya deliver India's national statement in Geneva in June 2025?
Show answer
Correct answer: D — 113th
PIB (Labour): Mandaviya delivered the national statement at the plenary session of the 113th International Labour Conference in Geneva.
Through which route did IREDA raise ₹2,005.90 crore, as announced on 11 June 2025?
Show answer
Correct answer: A — Qualified Institutions Placement (QIP)
PIB (MNRE): IREDA raised ₹2,005.90 crore through a Qualified Institutions Placement (QIP), oversubscribed 1.34 times against a base issue of ₹1,500 crore.
The 29th meeting of the Financial Stability and Development Council (FSDC), held on 10 June 2025, took place in which city?
Show answer
Correct answer: B — Mumbai
PIB (Finance): the Finance Minister chaired the 29th meeting of the FSDC in Mumbai on 10 June 2025.
Consider the following statements about the 29th FSDC meeting of 10 June 2025: 1. The Council considered a financial sector-specific cybersecurity strategy in light of the FSAP 2024-25 recommendations. 2. The meeting was chaired by the Governor of the Reserve Bank of India. Which of the statements given above is/are correct?
Show answer
Correct answer: A — 1 only
PIB (Finance): the FSDC considered a financial sector-specific cybersecurity strategy in light of FSAP 2024-25; the meeting was chaired by the Union Finance Minister, not the RBI Governor. So 1 only.
The FSDC was constituted by a Government of India notification dated 30 December 2010. Who chairs the Sub-Committee of the FSDC?
Show answer
Correct answer: D — Governor, RBI
PIB (static): the Council is chaired by the Union Finance Minister, and its Sub-Committee is chaired by the Governor, RBI.
According to Power Minister Manohar Lal on 10 June 2025, India met what peak power demand on 9 June 2025 with zero peak shortage?
Show answer
Correct answer: A — 241 GW
PIB (Power): India successfully met a peak power demand of 241 GW on 9 June 2025 with zero peak shortage.
The ₹5,400 crore Viability Gap Funding scheme announced by the Ministry of Power on 10 June 2025 covers how much Battery Energy Storage capacity?
Show answer
Correct answer: B — 30 GWh
PIB (Power): the VGF scheme is for 30 GWh of BESS, in addition to the 13.2 GWh already under way.
Consider the following statements based on the Power Ministry's press conference of 10 June 2025: 1. India's total installed generation capacity stands at 249 GW. 2. India's national energy shortage was 4.2% as of April 2025. Which of the statements given above is/are correct?
Show answer
Correct answer: D — Neither 1 nor 2
PIB (Power): installed capacity is now 472.5 GW (249 GW was the 2014 figure), and energy shortage fell to 0.1% as of April 2025 (4.2% was in 2013-14). So neither statement is correct.
Under the Maharashtra cabinet decision of 10 June 2025, excise duty on IMFL (up to ₹260 per bulk litre) was raised from three times to how many times the declared manufacturing cost?
Show answer
Correct answer: C — 4.5 times
PTI (ThePrint) and The Hindu BusinessLine (CMO statement): IMFL duty was raised from three times to 4.5 times the declared manufacturing cost.
Consider the following statements about the Maharashtra cabinet's excise decisions of 10 June 2025: 1. A new grain-based 'Maharashtra Made Liquor' category was created, to be made only by manufacturers in Maharashtra. 2. Excise duty on country liquor was cut from ₹205 to ₹180 per proof litre. Which of the statements given above is/are correct?
Show answer
Correct answer: A — 1 only
PTI (ThePrint) and The Hindu BusinessLine: the grain-based MML category is for Maharashtra manufacturers only; country liquor duty was raised from ₹180 to ₹205, not cut. So 1 only.
Who chaired the first meeting of the Task Force on Textiles Exports held on 10 June 2025?
Show answer
Correct answer: B — Sunil Barthwal
PIB (Commerce): the first meeting was held under the chairmanship of Commerce Secretary Sunil Barthwal.
Consider the following statements about the first meeting of the Task Force on Textiles Exports on 10 June 2025: 1. The meeting was held at Vanijya Bhawan, Delhi. 2. The European Union Deforestation Regulation (EUDR) was among the issues discussed. Which of the statements given above is/are correct?
Show answer
Correct answer: C — Both 1 and 2
PIB (Commerce): the meeting was held at Vanijya Bhawan in Delhi, and the discussions included the European Union Deforestation Regulation (EUDR). So both 1 and 2 are correct.
What was the theme of World Accreditation Day 2025, commemorated by the Quality Council of India on 9 June 2025?
Show answer
Correct answer: D — Accreditation: Empowering Small and Medium Enterprises (SMEs)
PIB (Commerce): this year's theme was 'Accreditation: Empowering Small and Medium Enterprises (SMEs)'.
Which revamped portal was launched at QCI's World Accreditation Day 2025 event on 9 June 2025?
Show answer
Correct answer: A — NABL Portal
PIB (Commerce): a key highlight of the event was the launch of the revamped NABL Portal.
In which Swiss city did Piyush Goyal hold extensive engagements with Swiss industry leaders on 9 June 2025?
Show answer
Correct answer: D — Bern
PIB (Commerce): Goyal held extensive engagements with Swiss industry leaders on 9 June 2025 in Bern, Switzerland.
During his Swiss industry engagements on 9 June 2025, Piyush Goyal urged Swiss businesses to use which dedicated facilitation desk at Invest India?
Show answer
Correct answer: B — EFTA Desk
PIB (Commerce): the Minister called on Swiss businesses to leverage the dedicated EFTA Desk at Invest India.
Who was the NHAI Chairman when NHAI released its first Asset Monetisation Strategy for the road sector on 9 June 2025?
Show answer
Correct answer: A — Santosh Kumar Yadav
PIB (MoRTH): NHAI Chairman Santosh Kumar Yadav commented on the release of the strategy document.
According to NHAI on 9 June 2025, monetisation instruments have helped it raise over ₹1.4 lakh crore across more than how many km of National Highways?
Show answer
Correct answer: C — 6,100 km
PIB (MoRTH): the instruments helped NHAI raise over ₹1.4 lakh crore across more than 6,100 km of National Highways under the National Monetisation Pipeline.
Consider the following statements about NHAI's Asset Monetisation Strategy released on 9 June 2025: 1. The strategy relies solely on Infrastructure Investment Trusts (InvITs). 2. The strategy is anchored on five core pillars. Which of the statements given above is/are correct?
Show answer
Correct answer: D — Neither 1 nor 2
PIB (MoRTH): the strategy uses Toll-Operate-Transfer, InvITs and securitisation, and is anchored on three core pillars. So neither statement is correct.
At the 6th NIIF Governing Council meeting on 9 June 2025, NIIF's Assets Under Management were noted to have increased to more than what amount?
Show answer
Correct answer: C — ₹30,000 crore
PIB (Finance): the GC took note of the expansion in NIIF's Assets Under Management, which has increased to more than ₹30,000 crore.
What is the target corpus of NIIF's upcoming Private Markets Fund II, as noted at the Governing Council meeting of 9 June 2025?
Show answer
Correct answer: B — $1 billion
PIB (Finance): NIIF's upcoming Private Markets Fund II has a target corpus of $1 billion.
Within what period has the CCPA advised e-commerce platforms to complete self-audits to detect dark patterns, as per its advisory of 7 June 2025?
Show answer
Correct answer: D — 3 months
E-commerce platforms have been advised to conduct self-audits to identify dark patterns within 3 months of the issue of the advisory.
The Guidelines for Prevention and Regulation of Dark Patterns, cited in the CCPA's June 2025 advisory, were issued in which year?
Show answer
Correct answer: A — 2023
E-commerce platforms were advised to comply with the Guidelines for Prevention and Regulation of Dark Patterns, 2023.
Consider the following statements about the CCPA's dark patterns advisory of 7 June 2025: 1. E-commerce platforms are encouraged to give self-declarations that they are free of dark patterns. 2. The Joint Working Group set up to identify violations includes National Law Universities. Which of the above is/are correct?
Show answer
Correct answer: C — Both 1 and 2
Both statements are correct. Platforms are encouraged to give self-declarations, and the Joint Working Group constituted by the Department of Consumer Affairs includes National Law Universities along with ministries, regulators and voluntary consumer organisations.
Who was appointed a part-time Member of the 16th Finance Commission, as announced on 7 June 2025?
Show answer
Correct answer: B — T. Rabi Sankar
RBI Deputy Governor T. Rabi Sankar was appointed by the President as a part-time Member of the 16th Finance Commission.
Who is the Chairman of the 16th Finance Commission?
Show answer
Correct answer: C — Arvind Panagariya
The 16th Finance Commission was constituted on 31 December 2023 with former NITI Aayog Vice-Chairman Dr. Arvind Panagariya as its Chairman.
Consider the following statements about the 16th Finance Commission: 1. T. Rabi Sankar was appointed as a full-time Member of the Commission in June 2025. 2. The Commission's award period is the five years beginning 1 April 2026. Which of the above is/are correct?
Show answer
Correct answer: B — 2 only
Statement 1 is incorrect: T. Rabi Sankar was appointed as a part-time Member. Statement 2 is correct: the Commission must recommend for the five-year award period starting 1 April 2026.
To what level did the RBI's Monetary Policy Committee cut the policy repo rate on 6 June 2025?
Show answer
Correct answer: B — 5.50%
The MPC voted to reduce the policy repo rate by 50 basis points to 5.50% with immediate effect.
To what level did the RBI decide in June 2025 to reduce the cash reserve ratio (CRR) by the end of its staggered cuts?
Show answer
Correct answer: D — 3.0% of NDTL
The RBI decided to cut the CRR by 100 bps to 3.0% of NDTL in four equal tranches of 25 bps each, releasing about ₹2.5 lakh crore by December 2025.
What monetary policy stance did the MPC adopt at its June 2025 meeting?
Show answer
Correct answer: A — Neutral
After 100 bps of repo rate cuts since February 2025, the MPC decided to change its stance to Neutral, saying monetary policy had very limited space left to support growth.
Consider the following statements about the RBI MPC decision of 6 June 2025: 1. CPI inflation for 2025-26 was projected at 3.7%. 2. All six MPC members voted for the 50-basis-point repo rate cut. Which of the above is/are correct?
Show answer
Correct answer: A — 1 only
Statement 1 is correct: CPI inflation for 2025-26 was projected at 3.7%. Statement 2 is incorrect: five members voted for the 50 bps cut, while Saugata Bhattacharya voted for a 25 bps cut.
What real GDP growth did the RBI project for 2025-26 in its June 2025 policy?
Show answer
Correct answer: C — 6.5%
The RBI projected real GDP growth for 2025-26 at 6.5%.
The RBI MPC's June 2025 decision was stated to be in consonance with the medium-term target for CPI inflation of
Show answer
Correct answer: A — 4% within a band of +/- 2%
The MPC said its decision is in consonance with the objective of achieving the medium-term target for CPI inflation of 4% within a band of +/- 2%, while supporting growth.
Which issue of 'EnviStats India: Environment Statistics' did MoSPI release on 5 June 2025?
Show answer
Correct answer: D — 8th
MoSPI released the 8th issue of 'EnviStats India 2025: Environment Statistics' on 5 June 2025.
According to UIDAI, how many Aadhaar authentication transactions were carried out in May 2025?
Show answer
Correct answer: B — Over 211 crore
Aadhaar number holders carried out Over 211 crore authentication transactions in May 2025, taking the cumulative total to more than 15,223 crore.
Where is India's National Maritime Heritage Centre, for which Union Minister Sarbananda Sonowal sought Norway's cooperation in June 2025, located?
Show answer
Correct answer: B — Lothal, Gujarat
Sonowal sought Norway's cooperation in cultural, technological and academic collaboration for the National Maritime Heritage Centre at Lothal, Gujarat.
At which global maritime event in Oslo did India set up its pavilion for the first time on 3 June 2025?
Show answer
Correct answer: C — Nor-Shipping
The India Pavilion was inaugurated at Nor-Shipping in Oslo, marking India's first-ever participation in the event.
Under the Scheme to Promote Manufacturing of Electric Passenger Cars in India, at what reduced customs duty can approved applicants import e-4W CBUs?
Show answer
Correct answer: D — 15%
Approved applicants can import CBUs of e-4W with a minimum CIF value of USD 35,000 at a reduced customs duty of 15% for five years from the Application Approval Date.
What is the minimum investment commitment required from approved applicants under SPMEPCI?
Show answer
Correct answer: A — ₹4,150 crore
Approved applicants must make a minimum investment of ₹4,150 crore (about USD 500 million) within a three-year window.
What is the annual cap on the number of e-4Ws that an approved applicant can import at the reduced duty under SPMEPCI?
Show answer
Correct answer: C — 8,000
The maximum number of e-4W allowed to be imported at the reduced duty rate is capped at 8,000 per year, with carryover of unutilised limits permitted.
Consider the following statements about the Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI): 1. Only e-4W CBUs with a minimum CIF value of USD 35,000 qualify for the reduced customs duty. 2. Approved applicants must commence manufacturing operations within five years of approval. Which of the above is/are correct?
Show answer
Correct answer: A — 1 only
Statement 1 is correct: the reduced duty applies to e-4W CBUs with a minimum CIF value of USD 35,000. Statement 2 is incorrect: applicants must set up the facility and commence manufacturing of e-4W within three years.
What were India's gross GST collections for May 2025, according to data released on 1 June 2025?
Show answer
Correct answer: B — ₹2.01 lakh crore
Gross GST collections for May 2025 stood at ₹2,01,050 crore, or about ₹2.01 lakh crore.
By what percentage did gross GST collections in May 2025 grow over May 2024?
Show answer
Correct answer: D — 16.4%
Gross GST collections rose 16.4% year-on-year in May 2025, to ₹2,01,050 crore.
Consider the following statements about GST collections for May 2025: 1. GST revenue from imports grew faster than revenue from domestic transactions. 2. Collections in April 2025 had touched an all-time high of ₹2.37 lakh crore. Which of the above is/are correct?
Show answer
Correct answer: C — Both 1 and 2
Both statements are correct. Import GST grew 25.2% against 13.7% for domestic transactions, and collections in April 2025 had reached an all-time high of ₹2.37 lakh crore.
Which component accounted for the largest share of gross GST collections in May 2025?
Show answer
Correct answer: A — IGST
IGST, at ₹1,08,836 crore, was the largest component of the ₹2,01,050 crore gross GST collected in May 2025, making it the largest single component.
In which city did IEPFA and SEBI launch the pilot Niveshak Shivir on 1 June 2025?
Show answer
Correct answer: D — Pune
IEPFA, in collaboration with SEBI, launched the pilot chapter of Niveshak Shivir in Pune to help investors with unclaimed dividends and shares.
As per the NSO's Provisional Estimates released on 30 May 2025, India's real GDP grew by how much in FY 2024-25?
Show answer
Correct answer: B — 6.5%
Real GDP growth for 2024-25 was estimated at 6.5%; 9.8% was nominal GDP growth and 7.4% was Q4 real growth.
What was India's real GDP growth in the January–March quarter (Q4) of 2024-25, as per the NSO?
Show answer
Correct answer: D — 7.4%
The NSO estimated real GDP growth of 7.4% in Q4 of 2024-25; nominal growth was 10.8%.
Which sector recorded the highest growth rate (9.4%) in FY 2024-25 as per the Provisional Estimates?
Show answer
Correct answer: A — Construction
Construction was estimated to grow 9.4%, followed by Public Administration, Defence & Other Services (8.9%).
According to the provisional accounts for 2024-25, total receipts of the Government of India were what percentage of the revised estimates?
Show answer
Correct answer: A — 97.8%
Total receipts of ₹30,78,247 crore were 97.8% of RE 2024-25; 98.7% was the figure for total expenditure.
How much was transferred to state governments as devolution of share of taxes in 2024-25, as per the provisional accounts?
Show answer
Correct answer: C — ₹12,86,885 crore
₹12,86,885 crore was devolved to states. ₹10,52,007 crore was capital expenditure, ₹11,16,343 crore interest payments, and ₹24,98,885 crore net tax revenue.
Until when are the wheat stock limits imposed by the Centre in May 2025 applicable?
Show answer
Correct answer: B — 31 March 2026
The Food Ministry said the order is applicable until 31 March 2026 in all States and UTs.
What is the wheat stock limit for traders/wholesalers under the order of 27 May 2025?
Show answer
Correct answer: A — 3,000 MT
The stock limit for traders/wholesalers is 3,000 MT; retailers have 10 MT per outlet.
Consider the following statements about the wheat stock limits of May 2025: 1. Retailers may hold 10 MT of wheat for each retail outlet. 2. Processors may hold 50% of their monthly installed capacity multiplied by the remaining months of FY 2025-26. Which of the statements given above is/are correct?
Show answer
Correct answer: A — 1 only
Only 1 is correct. The processors' limit is 70% (not 50%) of monthly installed capacity times the remaining months of FY 2025-26.
With the vesting orders of 29 May 2025, for how many coal blocks have vesting/allocation orders been issued under commercial auctions?
Show answer
Correct answer: D — 116
The Coal Ministry said vesting/allocation orders have now been issued for 116 coal blocks under commercial auctions.
Which Coal India subsidiary became the first to secure a coal block through commercial auction, as noted by the Coal Ministry in May 2025?
Show answer
Correct answer: B — Western Coalfields Ltd
The ministry said Western Coalfields Ltd had, for the first time, secured a coal block through commercial auction.
What was India's IIP growth in April 2025 as per the quick estimate?
Show answer
Correct answer: C — 2.7%
IIP grew 2.7% in April 2025; 3.0% was March, 3.4% manufacturing and 1.1% electricity.
Under MoSPI's revised calendar announced in May 2025, the quick estimate of IIP is released on which day of every month?
Show answer
Correct answer: B — 28th
As per the revised calendar, the quick estimate of IIP is released on the 28th of every month (or the next working day if it is a holiday).
What was India's total FDI inflow (provisional) in FY 2024-25 as per the Commerce Ministry?
Show answer
Correct answer: B — USD 81.04 billion
FDI inflow was USD 81.04 billion (provisional) in FY 2024-25, up 14% from USD 71.28 billion in FY 2023-24.
Which country was the largest source of FDI equity inflows into India in FY 2024-25?
Show answer
Correct answer: C — Singapore
Singapore led with a 30% share, followed by Mauritius (17%) and the United States (11%).
Consider the following statements about FDI in FY 2024-25: 1. Maharashtra received the highest share of FDI equity inflows among states. 2. Computer software and hardware was the top sector for FDI equity, ahead of services. Which of the statements given above is/are correct?
Show answer
Correct answer: A — 1 only
Statement 1 is correct (Maharashtra 39%). Statement 2 is wrong: services led with 19%, ahead of computer software and hardware (16%).
How many blocks were successfully auctioned in Tranche V of the critical and strategic mineral block auctions?
Show answer
Correct answer: A — 10 out of 15
Tranche V concluded with 10 of the 15 offered blocks successfully auctioned.
Tranche V of the critical mineral auctions marked the first successful auction of a critical and strategic mineral block in which state?
Show answer
Correct answer: D — Rajasthan
Tranche V marked the first-ever successful auction of a critical and strategic mineral block in Rajasthan.
Consider the following statements about Tranche V of the critical mineral block auctions: 1. It included the Government of India's first-ever successful auction of a potash block. 2. With it, the total number of blocks auctioned by the Central Government reached 34. 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.
To which date did CBDT extend the due date for filing ITRs for AY 2025-26 that were originally due on 31 July 2025?
Show answer
Correct answer: B — 15 September 2025
The due date was extended from 31 July 2025 to 15 September 2025.
Consider the following statements about the ITR due-date extension announced in May 2025: 1. It was made by the Central Board of Indirect Taxes and Customs. 2. One reason cited was structural and content revisions in the notified ITR forms. Which of the statements given above is/are correct?
Show answer
Correct answer: B — 2 only
Statement 1 is wrong: the extension was by the Central Board of Direct Taxes (CBDT). Statement 2 is correct.
From which date are RoDTEP benefits restored for exports by Advance Authorisation holders, EOUs and SEZ units?
Show answer
Correct answer: D — 1 June 2025
The restored benefits apply to eligible exports made from 1 June 2025; earlier cover for these categories ended on 5 February 2025.
Consider the following statements about the RoDTEP scheme: 1. It has been operational since 1 January 2021. 2. It reimburses embedded duties, taxes and levies that are not refunded under any other scheme. Which of the statements given above is/are correct?
Show answer
Correct answer: C — Both 1 and 2
Both are correct as per the Commerce Ministry release.
Lok Sabha Speaker Om Birla addressed the platinum jubilee of which chamber at Jamshedpur on 25 May 2025?
Show answer
Correct answer: B — Singhbhum Chamber of Commerce and Industry
He addressed the platinum jubilee celebration of the Singhbhum Chamber of Commerce and Industry at Jamshedpur.