Economy Current Affairs Quiz — All time
Daily news by your exam, state and topic — each with a short summary, key facts and MCQs.
How much investment interest did the Rising North East Investors Summit 2025 draw, according to the DoNER Minister?
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Correct answer: C — ₹4.3 lakh crore
Jyotiraditya Scindia said the summit drew ₹4.3 lakh crore in investment interest.
Delegations from how many countries attended the Rising North East Investors Summit 2025, as per the DoNER Minister?
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Correct answer: D — Over 80
The minister said delegations from over 80 countries were welcomed.
Where was the Rising North East Investors Summit 2025 held?
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Correct answer: B — Bharat Mandapam, New Delhi
The summit was held at Bharat Mandapam, New Delhi on 23–24 May 2025.
Which Supreme Court Judge delivered the keynote address at the DFS colloquium of DRAT Chairpersons and DRT Presiding Officers in May 2025?
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Correct answer: B — Justice S.V.N. Bhatti
Justice S.V.N. Bhatti, Judge of the Supreme Court, delivered the keynote address.
The DFS colloquium of May 2025 discussed effective implementation of the DRT Regulations of which year?
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Correct answer: D — 2024
Deliberations included effective implementation of the DRT Regulations, 2024.
At the Rising North East Investors Summit 2025, what did the Prime Minister say 'EAST' stands for in the government's policy for the region?
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Correct answer: B — Empower, Act, Strengthen, Transform
The PM said EAST means 'Empower, Act, Strengthen and Transform'.
According to the Prime Minister's address at the Rising North East Investors Summit 2025, what is the length of the Northeast Gas Grid?
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Correct answer: A — 1,600 km
The PM cited the establishment of a 1,600-km-long Northeast Gas Grid.
Consider the following statements made at the Rising North East Investors Summit 2025: 1. The Kaladan Multimodal Transit Project will link Kolkata Port to Myanmar's Sittwe Port, with a trade route through Mizoram. 2. Guwahati, Imphal and Agartala are being developed as Multi-Modal Logistics Hubs. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Both statements are from the PM's address as published by PIB.
As per provisional ESIC payroll data, how many new employees were added under the ESI Scheme in March 2025?
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Correct answer: B — 16.33 lakh
16.33 lakh new employees were added in March 2025; 15.43 lakh was the February figure.
Consider the following statements about ESIC payroll data for March 2025: 1. About 49% of the new employees were aged up to 25 years. 2. 31,514 new establishments were registered under the ESI Scheme. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Both are correct: 7.96 lakh (about 49%) were aged up to 25, and 31,514 new establishments were registered.
Under its partnership with Aditya Birla Capital announced in May 2025, what role will India Post Payments Bank play?
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Correct answer: B — It will provide referral services for Aditya Birla Capital's loan products
IPPB will provide referral services for ABCL's loan solutions to its existing customers.
Consider the following statements about the 15th BRICS Trade Ministers' Meeting (May 2025): 1. It was held under the BRICS Presidency of Brazil. 2. India will assume the BRICS Presidency in 2026. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Both are correct: Brazil held the presidency, and India prepares to assume it in 2026.
Which of the following was NOT one of the three annexures to the Joint Declaration endorsed at the 15th BRICS Trade Ministers' Meeting?
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Correct answer: D — BRICS Framework on Critical Minerals Supply Chains
The three annexures were on WTO reform, Data Economy Governance, and Trade and Sustainable Development.
As per EPFO's provisional payroll data, how many net members were added in March 2025?
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Correct answer: D — 14.58 lakh
EPFO added 14.58 lakh net members in March 2025; 7.54 lakh were new subscribers. (16.33 lakh is ESIC's March figure.)
In EPFO's March 2025 payroll data, what share of new subscribers belonged to the 18–25 age group?
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Correct answer: B — 58.94%
4.45 lakh new subscribers aged 18–25 made up 58.94% of all new subscribers.
By how much did the combined Index of Eight Core Industries grow (provisional) in April 2025 over April 2024?
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Correct answer: A — 0.5%
The ICI grew 0.5% in April 2025; 4.5% was the 2024–25 cumulative growth and 3.5% the growth in coal.
The eight core industries together account for what share of the weight of items in the Index of Industrial Production (IIP)?
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Correct answer: B — 40.27%
The eight core industries make up 40.27% of the weight of items in the IIP.
GeMAI, described by GeM as India's first generative AI-powered chatbot in the public sector, supports voice and text interactions in how many Indian languages?
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Correct answer: B — 10
GeMAI supports both voice and text interactions in 10 Indian languages.
Consider the following statements made on GeM's 8th Incorporation Day (May 2025): 1. Over 10 lakh Micro and Small Enterprises are part of the GeM ecosystem. 2. Among States and UTs, Maharashtra leads in GeM adoption. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Only statement 1 is correct. GeM has been adopted in all 36 States and UTs, with Uttar Pradesh leading the way.
According to GeM (May 2025), independent assessments including by the World Bank and the Economic Survey found an average saving of nearly how much in government procurement through GeM?
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Correct answer: D — 10%
Independent assessments, including from the World Bank and the Economic Survey, note an average cost saving of nearly 10%.
Consider the following statements about the May 2025 amendment to the Securities Contracts (Regulation) Rules, 1957: 1. The amendment was made to Rule 8 by the Department of Economic Affairs. 2. It followed a consultation paper released by the DEA in 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. DEA amended Rule 8 of the SCRR, 1957 via G.S.R. 318(E), after a consultation paper in September 2024.
According to Union Minister Jitendra Singh at IIT Ropar (May 2025), roughly what share of India's startups now emerge from Tier 2 and Tier 3 towns?
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Correct answer: C — Nearly 50%
He said nearly 50% of India's startups now emerge from Tier 2 and Tier 3 towns.
IIT Ropar, which hosted the Pragati Founder Forum in May 2025, was established in which year?
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Correct answer: D — 2008
IIT Ropar, in Punjab, was established in 2008.
According to CBIC at its 'Sundays on Cycle' event (May 2025), GST unified around how many different indirect taxes into a single tax structure?
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Correct answer: B — 30
CBIC Member (GST) Shashank Priya said GST unified around 30 different indirect taxes into a single, transparent tax structure.
In the context of GST, what does the QRMP Scheme for small taxpayers stand for?
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Correct answer: A — Quarterly Return Monthly Payment
QRMP is the Quarterly Return Monthly Payment Scheme, which reduces the compliance burden for small taxpayers.
As stated by the Union Minister of Cooperation in May 2025, a Primary Agricultural Credit Society (PACS) will be established in every panchayat by which year?
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Correct answer: C — 2029
Amit Shah said the Government will establish a PACS in every panchayat across the country by 2029.
The United Nations is observing 2025 as the International Year of what?
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Correct answer: A — Cooperatives
The UN is observing 2025 as the International Year of Cooperatives (IYC 2025).
According to the Union Minister of Cooperation (May 2025), about how many initiatives have been taken by the Ministry of Cooperation so far?
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Correct answer: D — 57
Amit Shah said about 57 initiatives of various types have been taken so far by the Ministry of Cooperation.
Under the port restrictions imposed by DGFT on imports from Bangladesh in May 2025, imports of which of the following were exempted?
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Correct answer: D — Edible oil
The restrictions do not apply to fish, LPG, edible oil and crushed stone. Readymade garments are allowed only via Nhava Sheva and Kolkata seaports; processed food and wooden furniture are barred through the specified land ports.
Consider the following statements about DGFT Notification No. 07/2025-26 (May 2025): 1. The port restrictions do not apply to Bangladeshi goods transiting through India to Nepal and Bhutan. 2. The port restrictions apply to imports of fish and LPG from Bangladesh. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Only statement 1 is correct. Fish, LPG, edible oil and crushed stone are exempt from the restrictions.
As per DGFT's May 2025 notification, readymade garments from Bangladesh may be imported only through which route?
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Correct answer: D — Nhava Sheva and Kolkata seaports
Readymade garments of all kinds may not be imported through any land port and are allowed only through Nhava Sheva and Kolkata seaports.
Under the DPIIT–GEAPP MoU of May 2025, what does 'ENTICE' stand for?
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Correct answer: D — Energy Transitions Innovation Challenge
GEAPP will launch the Energy Transitions Innovation Challenge (ENTICE), a competitive platform with up to $500,000 in rewards.
The ENTICE challenge under the DPIIT–GEAPP partnership (May 2025) offers rewards of up to how much?
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Correct answer: B — $500,000
ENTICE offers up to $500,000 in rewards for high-impact clean-energy solutions.
According to DGTR on its 8th Foundation Day (May 2025), India has initiated over how many trade remedy investigations since 1995?
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Correct answer: B — 1,200
Since 1995, India has initiated over 1,200 trade remedy investigations.
In which year did the Directorate General of Trade Remedies (DGTR) launch a dedicated helpdesk to assist MSMEs?
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Correct answer: C — 2019
DGTR launched a dedicated helpdesk for MSMEs in 2019 to help them navigate trade remedy processes.
The 'National Accounts Statistics – 2025' released by MoSPI presents constant-price estimates with which base year?
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Correct answer: D — 2011-12
Estimates are presented at current and constant (2011-12) prices.
Consider the following statements about 'National Accounts Statistics – 2025': 1. It includes Final Estimates for 2022-23 and First Revised Estimates for 2023-24. 2. It was released by the Reserve Bank of India. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Only statement 1 is correct. The publication was released by the Ministry of Statistics and Programme Implementation (MoSPI).
How many startups did DPIIT approve for income tax exemption under Section 80-IAC, as announced on 15 May 2025?
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Correct answer: B — 187
187 startups were approved: 75 at the 79th and 112 at the 80th IMB meeting. Over 3,700 is the cumulative total.
Under Section 80-IAC of the Income Tax Act, eligible startups can claim:
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Correct answer: D — 100% deduction on profits for any 3 consecutive years within 10 years of incorporation
Eligible startups get a 100% income tax deduction on profits for any three consecutive years within a ten-year window from incorporation.
Consider the following statements about the Section 80-IAC startup tax benefit: 1. Startups incorporated before 1 April 2030 are now eligible to apply. 2. Under DPIIT's revised framework, complete applications are reviewed within 90 days. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Only statement 1 is correct. Complete applications are reviewed within 120 days.
As per the PLFS monthly bulletin for April 2025, the unemployment rate (Current Weekly Status, age 15+) was:
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Correct answer: D — 5.1%
The unemployment rate in CWS for persons aged 15 and above was 5.1% in April 2025.
The labour force participation rate (CWS, age 15+) in April 2025, as per the PLFS monthly bulletin, was:
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Correct answer: A — 55.6%
LFPR was 55.6%. 52.8% was the overall WPR, 58.0% rural LFPR and 50.7% urban LFPR.
Consider the following statements about the PLFS bulletin for April 2025: 1. The PLFS sampling methodology was revamped from January 2025. 2. The female unemployment rate was higher than the male unemployment rate. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Only statement 1 is correct. The male UR (5.2%) was slightly higher than the female UR (5.0%).
India's total exports (merchandise and services) in April 2025 were estimated at:
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Correct answer: A — US$ 73.80 billion
Total exports were US$ 73.80 billion. US$ 65.48 billion was the April 2024 figure, US$ 82.45 billion was total imports and US$ 38.49 billion was merchandise exports.
Among the following export categories, which recorded the highest year-on-year growth in April 2025?
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Correct answer: C — Electronic goods
Electronic goods exports grew 39.51%, against 11.28% for engineering goods, 10.74% for gems and jewellery and 2.37% for drugs and pharmaceuticals.
Consider the following statements about India's trade in April 2025: 1. Merchandise exports were US$ 38.49 billion, up 9.02% year-on-year. 2. Total imports (merchandise and services) were estimated at US$ 82.45 billion. 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 Commerce Ministry's release of 15 May 2025.
Annual WPI-based inflation for April 2025 (provisional) was:
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Correct answer: A — 0.85%
WPI inflation was 0.85% in April 2025. 2.05% was March 2025, 2.45% was February 2025, and -0.19% was the month-on-month change.
Consider the following statements about WPI data for April 2025: 1. The WPI series uses 2011-12 as the base year. 2. Inflation in primary articles was negative. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Both are correct. Primary articles inflation was -1.44% in April 2025.
All-India CPI-based headline inflation for April 2025 (provisional) was:
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Correct answer: C — 3.16%
Headline CPI inflation was 3.16%. 2.92% was rural inflation and 1.78% was food inflation.
Consider the following statements about CPI data for April 2025: 1. Headline CPI inflation was the lowest year-on-year rate since July 2019. 2. Food inflation (CFPI) was the lowest since October 2021. 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 MoSPI's release of 13 May 2025.
The Consumer Price Index released by MoSPI for April 2025 uses which base year?
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Correct answer: D — 2012
The CPI numbers are on base 2012=100.
By what percentage did India's coal imports fall in April 2024–February 2025 compared with the same period a year earlier?
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Correct answer: B — 9.2%
Coal imports fell 9.2% to 220.3 MT. 15.3% was the fall for the non-regulated sector, 38.8% for blending imports, and 5.45% was growth in domestic output.
Consider the following statements about India's coal imports in April 2024–February 2025: 1. The fall in imports saved about US$ 6.93 billion in foreign exchange. 2. Imports for blending by thermal power plants fell by 38.8%. 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 Coal release of 13 May 2025.
To which rating did Morningstar DBRS upgrade India's long-term foreign and local currency issuer ratings in May 2025?
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Correct answer: B — BBB
The ratings were upgraded from BBB (low) to BBB with a Stable trend.
Consider the following statements about the Morningstar DBRS upgrade: 1. India's short-term ratings were upgraded to R-1 (low). 2. The agency cited average GDP growth of 6.5% during FY22–25. Which of the statements given above is/are correct?
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Correct answer: D — Neither 1 nor 2
Both are wrong: short-term ratings went to R-2 (high) from R-2 (middle), and average growth cited was 8.2%.
On which date was the India–New Zealand FTA launched by Piyush Goyal and Todd McClay?
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Correct answer: A — 16 March 2025
The FTA was launched on 16 March 2025; the first round was held from 5 to 9 May 2025.
Consider the following statements: 1. The first round of India–New Zealand FTA negotiations was held from 5 to 9 May 2025 in New Delhi. 2. India–New Zealand merchandise trade reached USD 1.3 billion in 2024–25, a growth of 48.6%. 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 Commerce Ministry release.
Who is New Zealand's Minister for Trade and Investment who launched the FTA with Piyush Goyal?
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Correct answer: B — Todd McClay
Todd McClay is New Zealand's Minister for Trade and Investment; Christopher Luxon is New Zealand's Prime Minister.
Which form should shareholders file to claim physical shares already transferred to the IEPFA?
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Correct answer: D — IEPF-5
Shareholders whose shares have been transferred can initiate a claim by filing Form IEPF-5.
The Investor Education and Protection Fund Authority (IEPFA) functions under which ministry?
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Correct answer: D — Ministry of Corporate Affairs
IEPFA is under the Ministry of Corporate Affairs.
As per the DPIIT release on its MoU with Hafele India (7 May 2025), Hafele has already committed how much in an Indian appliance manufacturing startup?
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Correct answer: A — Over USD 2.5 million
Hafele has committed over USD 2.5 million in an Indian appliance manufacturing startup.
For how long will the DPIIT–Hafele India MoU signed on 7 May 2025 remain in effect from the date of signing?
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Correct answer: B — Two years
The MoU remains in effect for two years from signing, with scope for extension by mutual agreement.
Under the India–UK FTA concluded on 6 May 2025, India will gain from tariff elimination on about what share of tariff lines?
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Correct answer: B — 99%
India will gain from tariff elimination on about 99% of tariff lines, covering almost 100% of trade value.
Under the India–UK Double Contribution Convention, Indian workers temporarily in the UK and their employers are exempt from UK social security contributions for:
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Correct answer: D — Three years
The exemption is for a period of three years.
Consider the following statements about the India–UK FTA: 1. FTA negotiations resumed in February 2025 after the two Prime Ministers met at the G20 Summit in Rio de Janeiro in November 2024. 2. India–UK bilateral trade of about USD 60 billion is projected to double by 2030. 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 Commerce release of 6 May 2025.
Consider the following statements about the India–UK FTA: 1. India will gain tariff elimination on about 90% of tariff lines. 2. The FTA eases mobility for independent professionals such as yoga instructors, musicians and chefs. Which of the statements given above is/are correct?
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Correct answer: B — 2 only
Only 2 is correct. Tariff elimination is on about 99% of tariff lines.
As per provisional data released in May 2025, India's iron ore production in FY 2024-25 was:
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Correct answer: B — 289 MMT
Iron ore production reached 289 MMT in FY 2024-25, breaking the FY 2023-24 record of 277 MMT.
As per the Ministry of Mines (May 2025), India's global rank as a producer of aluminium is:
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Correct answer: A — 2nd
India is the 2nd largest aluminium producer and the 4th largest iron ore producer in the world.
Consider the following statements about mineral production in FY 2024-25: 1. Refined copper production declined compared with FY 2023-24. 2. Bauxite production declined compared with FY 2023-24. Which of the statements given above is/are correct?
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Correct answer: D — Neither 1 nor 2
Neither is correct. Refined copper grew 12.6% to 5.73 lakh tonnes and bauxite rose 2.9% to 24.7 MMT.
As per the review of 5 May 2025, the gross NPA of Regional Rural Banks reached a new low of:
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Correct answer: B — 5.3%
RRBs' GNPA reached 5.3%, the lowest in a decade.
What consolidated net profit did Regional Rural Banks record in FY 2024-25?
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Correct answer: A — ₹7,148 crore
RRBs recorded a consolidated net profit of ₹7,148 crore in FY 2024-25.
Consider the following statements about Regional Rural Banks (RRBs) as reviewed in May 2025: 1. RRBs have more than 22,000 branches covering 700 districts. 2. Sponsor banks were asked to complete the integration process by 30 September 2025. 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 DFS review held in Mumbai on 5 May 2025.