Economy Current Affairs Quiz — All time
Daily news by your exam, state and topic — each with a short summary, key facts and MCQs.
The government's first event in the International Year of Cooperatives 2025, a three-day international conference that concluded on 15 February 2025, was held at:
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Correct answer: C — VAMNICOM, Pune
The conference was organised by the Ministry of Cooperation at the Vaikunth Mehta National Institute of Cooperative Management (VAMNICOM), Pune.
The RuralShores BPO delivery centre inaugurated in Guwahati by Assam CM Himanta Biswa Sarma in February 2025 is an initiative of:
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Correct answer: D — Sri Madhusudan Sai Global Humanitarian Mission
RuralShores is an initiative of the Sri Madhusudan Sai Global Humanitarian Mission that employs educated, less-privileged rural youth.
What was India's annual WPI-based inflation rate (provisional) for January 2025?
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Correct answer: B — 2.31%
WPI inflation was 2.31% (provisional) in January 2025, down from 2.37% in December 2024.
What was the inflation rate of the WPI Food Index in January 2025?
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Correct answer: B — 7.47%
WPI Food Index inflation eased to 7.47% in January 2025 from 8.89% in December 2024.
What profit did BSNL report for the third quarter of 2024-25 (in crore rupees)?
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Correct answer: B — 262
BSNL reported a profit of ₹262 crore in Q3 of 2024-25; separately, its losses fell by over ₹1,800 crore compared to last year.
BSNL's Q3 2024-25 profit was its first return to profitability since which year?
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Correct answer: B — 2007
The ₹262 crore Q3 profit marked BSNL's first return to profitability since 2007.
As stated by the CCPA on 14 February 2025, how many notices had it issued so far to coaching institutes for misleading advertisements?
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Correct answer: C — 46
The CCPA had issued 46 notices to coaching institutes and imposed penalties of ₹77.60 lakh on 24 of them.
How many sections did the Income-tax Bill, 2025 contain when it was introduced on 13 February 2025?
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Correct answer: C — 536
The Bill has 536 sections against 819 in the Income-tax Act, 1961, a reduction of 283 sections.
The Income-tax Bill, 2025 replaces the terms 'assessment year' and 'previous year' with:
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Correct answer: C — Tax year
The Bill replaces 'assessment year' and 'previous year' with the simpler 'tax year'.
Who was appointed chairperson of the Lok Sabha Select Committee set up to examine the Income-tax Bill, 2025?
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Correct answer: D — Baijayant Panda
The 31-member Select Committee, constituted on 14 February 2025, is chaired by BJP MP Baijayant Panda.
The Income-tax Bill, 2025 reduces the number of chapters from 47 in the 1961 Act to:
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Correct answer: D — 23
Chapters fall from 47 to 23, a reduction of 24, while tables rise from 18 to 57.
Consider the following statements about the Income-tax Bill, 2025 as introduced: 1. It made no changes to tax rates. 2. It was referred to a Joint Committee of both Houses of Parliament. 3. Over 20,000 online suggestions were received during the simplification exercise. Which of the statements given above is/are correct?
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Correct answer: C — 1 and 3 only
The Bill kept tax rates unchanged, and 20,976 online suggestions were received. It was referred to a Select Committee of the Lok Sabha, not a Joint Committee, so the second statement is wrong.
Which public sector general insurer posted a profit in Q3 of 2024-25 after a gap of seven years, as stated by the Finance Ministry in February 2025?
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Correct answer: B — United India Insurance Company
United India Insurance posted a profit in Q3 of 2024-25 after seven years, while New India Assurance has been making profits regularly.
What was India's year-on-year CPI-based retail inflation (provisional) for January 2025?
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Correct answer: B — 4.31%
CPI inflation was 4.31% in January 2025, 91 basis points lower than in December 2024; 6.02% was the food inflation figure.
What was all-India food inflation (CFPI) in January 2025?
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Correct answer: C — 6.02%
CFPI-based food inflation fell 237 basis points to 6.02%; rural food inflation was 6.31% and urban 5.53%.
According to MoSPI, January 2025 CPI inflation was the lowest year-on-year inflation since which month?
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Correct answer: D — August 2024
MoSPI said 4.31% was the lowest year-on-year inflation after August 2024.
What was the size of West Bengal's 2025-26 Budget tabled on 12 February 2025 (in lakh crore rupees)?
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Correct answer: C — 3.89
Finance Minister Chandrima Bhattacharya tabled a ₹3.89 lakh crore Budget, up from ₹3.67 lakh crore in 2024-25.
The 'Nadi Bandhan' scheme announced in West Bengal's 2025-26 Budget is meant for:
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Correct answer: D — Prevention of riverbank erosion
Nadi Bandhan, with ₹200 crore, focuses on measures to prevent riverbank erosion in river-centric areas.
West Bengal's 2025-26 Budget sanctioned ₹500 crore for a bridge over the Ganga to which island, site of the Gangasagar Mela?
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Correct answer: A — Sagar Island
The Budget sanctioned ₹500 crore for a 4.75-km bridge over the Ganga connecting Sagar Island, where the Gangasagar Mela is held.
In February 2025, the transportation component of the Market Intervention Scheme for tomato was approved for Madhya Pradesh through which agency?
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Correct answer: D — NCCF
Shivraj Singh Chouhan approved the transportation component for tomato in Madhya Pradesh through the National Cooperative Consumers' Federation (NCCF).
Which of the three IIP sectors grew fastest in December 2024?
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Correct answer: A — Electricity
Electricity grew 6.2%, ahead of manufacturing (3.0%) and mining (2.6%); overall IIP growth was 3.2%.
Under the OMSS (Domestic) policy described on 11 February 2025, at what price (₹ per quintal) can state governments buy FCI rice without e-auction?
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Correct answer: D — 2,250
State governments, their corporations and community kitchens can buy rice at a pan-India price of ₹2,250 per quintal, up to 12 LMT.
Up to how much FCI rice (in lakh metric tonnes) can ethanol distilleries buy under the OMSS (Domestic) policy, as stated in February 2025?
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Correct answer: B — 24
Ethanol distilleries can buy up to 24 LMT at ₹2,250 per quintal; the separate cap for states and their corporations is 12 LMT.
Consider the following statements about the sale of FCI rice under OMSS (Domestic), as described on 11 February 2025: 1. Community kitchens can buy rice at the same ₹2,250 per quintal price as state governments. 2. Supply of FCI rice to ethanol distilleries is allowed only in surplus states. 3. Non-surplus states needing additional rice can buy it without participating in e-auction. Which of the statements given above is/are correct?
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Correct answer: C — 1 and 3 only
Community kitchens get the ₹2,250 price and non-surplus states can buy without e-auction. Rice can be supplied to distilleries in both deficit and surplus states, so the second statement is wrong.
Which Israeli minister described his delegation to the India-Israel Business Forum in New Delhi (February 2025) as the biggest-ever Israeli business mission to any country?
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Correct answer: A — Nir Barkat
Nir Barkat, Israel's Minister of Economy and Industry, said his delegation was the biggest-ever mission from Israel to any country.
At the 14th India-France CEOs Forum in Paris (February 2025), PM Modi said roughly how many compliances had been rationalised in the last few years?
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Correct answer: C — Over 40,000
Modi said more than 40,000 compliances had been rationalised and that a high-level committee for regulatory reforms had been constituted.
The India-EFTA Desk inaugurated on 10 February 2025 is meant to:
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Correct answer: D — Act as a single-window mechanism supporting EFTA businesses investing in India
The desk will function as a single-window mechanism to support EFTA businesses looking to invest, expand or set up operations in India.
To what level did the RBI's Monetary Policy Committee cut the policy repo rate on 7 February 2025?
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Correct answer: C — 6.25%
The MPC cut the repo rate by 25 basis points from 6.50% to 6.25%.
After the RBI's policy decision of 7 February 2025, at what rate did the standing deposit facility (SDF) stand?
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Correct answer: B — 6.00%
With the repo rate at 6.25%, the SDF rate was adjusted to 6.00% and the MSF rate and Bank Rate to 6.50%.
Who chaired the 53rd meeting of the RBI's Monetary Policy Committee held from 5 to 7 February 2025?
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Correct answer: C — Sanjay Malhotra
The 53rd MPC meeting was chaired by Governor Sanjay Malhotra; it was his first monetary policy. Rajiv Ranjan attended as a member.
In February 2025, the RBI projected real GDP growth for 2025-26 at:
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Correct answer: D — 6.7%
Real GDP growth for 2025-26 was projected at 6.7%; 6.4% was the First Advance Estimate for 2024-25.
Consider the following statements about the RBI's monetary policy of 7 February 2025: 1. The decision to cut the repo rate was unanimous. 2. The MPC changed its stance from neutral to accommodative. 3. CPI inflation for 2025-26 was projected at 4.2%. Which of the statements given above are correct?
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Correct answer: A — 1 and 3 only
Statements 1 and 3 are correct: the MPC voted unanimously for the cut and projected 2025-26 CPI inflation at 4.2%. Statement 2 is wrong, as it unanimously kept the stance neutral.
By what percentage were basic land tax rates raised in the Kerala Budget 2025-26 presented on 7 February 2025?
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Correct answer: B — 50%
Basic land tax rates in all slabs were raised by 50%; the lowest slab went from ₹5 to ₹7.5 per are a year.
How much (in ₹ crore) did the Kerala Budget 2025-26 announce as first-phase funding for rehabilitating Wayanad landslide survivors?
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Correct answer: A — 750
The Budget announced a project with first-phase funding of ₹750 crore for the rehabilitation of Wayanad landslide survivors.
What is the aim of the 'K-Homes' project announced in the Kerala Budget 2025-26?
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Correct answer: D — Using vacant and unoccupied houses as tourist accommodation
K-Homes seeks to use vacant and unoccupied houses across the State to provide affordable tourist accommodation and income for owners.
Which institution will act as the exclusive registrar for the 'bank.in' internet domain announced by the RBI on 7 February 2025?
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Correct answer: A — Institute for Development and Research in Banking Technology (IDRBT)
The RBI said the Institute for Development and Research in Banking Technology (IDRBT) will act as the exclusive registrar, with registrations from April 2025.
Who inaugurated the national event marking the 75th anniversary of the National Sample Survey at Vigyan Bhawan on 7 February 2025?
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Correct answer: B — Rao Inderjit Singh
Rao Inderjit Singh, Minister of State for Statistics and Programme Implementation, inaugurated the event; Amitabh Kant gave the keynote address.
What aggregate net profit, in ₹ lakh crore, did Public Sector Banks report for April–December 2024, as per the Finance Ministry?
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Correct answer: D — 1.29
PSBs posted their highest-ever aggregate net profit of ₹1,29,426 crore, about ₹1.29 lakh crore, up 31.3% year-on-year.
What was the net NPA ratio of Public Sector Banks as on 31 December 2024?
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Correct answer: A — 0.59%
The net NPA ratio of PSBs was 0.59%, with aggregate net NPAs of ₹61,252 crore.
What was the aggregate Capital to Risk Weighted Assets Ratio (CRAR) of Public Sector Banks as on 31 December 2024?
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Correct answer: D — 14.83%
The aggregate CRAR of PSBs was 14.83%, well above the minimum requirement of 11.5%.
EPFO crossed which milestone of claim settlements in FY 2024-25, as announced on 6 February 2025?
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Correct answer: A — 5.08 crore claims
EPFO processed over 5.08 crore claims in FY 2024-25, crossing 5 crore for the first time; it had settled 4.45 crore claims in FY 2023-24.
How many claims did EPFO settle through auto-settlement in FY 2024-25, as per the February 2025 announcement?
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Correct answer: B — 1.87 crore
Auto claim settlements doubled to 1.87 crore in FY 2024-25 from 89.52 lakh in FY 2023-24.
In which city did Jyotiraditya Scindia inaugurate the North East Trade and Investment Roadshow hosted by MDoNER on 5 February 2025?
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Correct answer: B — Chennai
The roadshow was held in Chennai to attract investment to the north-eastern 'Ashtalakshmi' States.
By how much did the volume of India's fruit and vegetable exports grow between 2019-20 and 2023-24, as per the Commerce Ministry on 4 February 2025?
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Correct answer: C — 47.3%
PIB (4 Feb 2025): there has been a growth of 47.3% in the volume of exports of fruits and vegetables between 2019-20 and 2023-24.
India's fruit and vegetable exports now reach how many countries, according to APEDA data shared on 4 February 2025?
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Correct answer: A — 123
PIB (4 Feb 2025): India's fruit and vegetable exports reach 123 countries, with 17 new markets added in 3 years.
According to Ashwini Vaishnaw on 4 February 2025, what is India's rank among mobile manufacturing countries?
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Correct answer: C — Second
PIB (4 Feb 2025): India has become the world's 2nd largest mobile manufacturing country, i.e. Second.
What share of mobile phones sold in India are now made in India, as per the data shared on 4 February 2025?
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Correct answer: D — 99.2%
PIB (4 Feb 2025): 99.2% of all mobile phones sold in India are made in India, against 26% in 2014-15.
Consider the following statements about India's mobile manufacturing, based on data shared on 4 February 2025: 1. India had only 2 mobile manufacturing units in 2014 and has over 300 now. 2. Mobile phone exports crossed ₹1,29,000 crore in 2024. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
PIB (4 Feb 2025): India had only 2 mobile manufacturing units in 2014 and now has over 300, and exports crossed ₹1,29,000 crore in 2024. Both statements are correct. Answer: Both 1 and 2.
On 4 February 2025, G Kishan Reddy met Bandar Ibrahim Alkhorayef, who is Saudi Arabia's Minister of:
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Correct answer: C — Industry and Mineral Resources
PIB (4 Feb 2025): Kishan Reddy met Saudi Arabia's Minister of Industry and Mineral Resources, Bandar Ibrahim Alkhorayef, in New Delhi.
Which Indian institute was discussed for designation as a Centre of Excellence under the Future Minerals Forum during the India-Saudi meeting of 4 February 2025?
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Correct answer: D — Geological Survey of India Training Institute
PIB (4 Feb 2025): a significant development was the designation of the Geological Survey of India Training Institute (GSITI) as a Centre of Excellence under the Future Minerals Forum.
How many projects were sanctioned in 2024-25 under SASCI - Development of Iconic Tourist Centres to Global Scale, as told to the Lok Sabha on 3 February 2025?
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Correct answer: B — 40
PIB (3 Feb 2025): 40 projects in 23 states were sanctioned for ₹3,295.76 crore in 2024-25.
In the scheme name 'SASCI', what does the abbreviation stand for?
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Correct answer: C — Special Assistance to States for Capital Investment
PIB (3 Feb 2025): the scheme is 'Special Assistance to States for Capital Investment (SASCI) - Development of Iconic Tourist Centres to Global Scale'.
What fiscal deficit target for 2025-26 (as a share of GDP) was announced in the Union Budget presented on 1 February 2025?
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Correct answer: B — 4.4 per cent
Budget speech (para 113): the fiscal deficit for 2025-26 is estimated to be 4.4 per cent of GDP.
According to the Union Budget 2025-26, what is the Revised Estimate of the fiscal deficit for 2024-25?
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Correct answer: C — 4.8 per cent of GDP
Budget speech (para 111): the Revised Estimate of the fiscal deficit is 4.8 per cent of GDP.
What capital expenditure did the Union Budget 2025-26 provide for 2025-26?
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Correct answer: D — ₹11.21 lakh crore
PIB Highlights (1 Feb 2025): capex is ₹11.21 lakh crore (3.1% of GDP). ₹10.18 lakh crore is the 2024-25 Revised Estimate and ₹14.82 lakh crore is gross market borrowings.
Which Budget document is mandated by Article 112 of the Constitution of India?
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Correct answer: A — Annual Financial Statement
Key to Budget Documents 2025-26: the Annual Financial Statement, Demands for Grants and Finance Bill are mandated by Articles 112, 113 and 110(a) respectively; Budget at a Glance is an explanatory document.
Consider the following statements about Union Budget documents: 1. Demands for Grants are mandated by Article 113 of the Constitution. 2. The Finance Bill is mandated by Article 110(a) of the Constitution. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Key to Budget Documents 2025-26: the AFS, Demands for Grants and Finance Bill are mandated by Articles 112, 113 and 110(a) respectively. Both statements are correct. Answer: Both 1 and 2.
Under the new tax regime announced in the Union Budget 2025-26 on 1 February 2025, no income tax is payable on normal income up to:
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Correct answer: C — ₹12 lakh
Budget speech and PIB (1 Feb 2025): there will be no income tax payable on income up to ₹12 lakh under the new regime, other than special rate income such as capital gains.
For salaried taxpayers under the new regime, what is the nil-tax income limit after the Union Budget 2025-26, taking the standard deduction into account?
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Correct answer: A — ₹12.75 lakh
PIB (1 Feb 2025): the limit will be ₹12.75 lakh for salaried taxpayers, with a standard deduction of ₹75,000.
In the revised new-regime slabs of the Union Budget 2025-26, what rate applies to the income slab of ₹12-16 lakh?
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Correct answer: D — 15 per cent
Budget speech (para 158): 12-16 lakh rupees is taxed at 15 per cent under the revised new-regime structure.
Consider the following statements about the income-tax changes in the Union Budget 2025-26: 1. Under the new regime, the 30% rate applies to income above ₹24 lakh. 2. The ₹12 lakh nil-tax threshold also covers special rate income such as capital gains. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Budget speech: the top slab is above 24 lakh rupees at 30 per cent, so statement 1 is correct. The ₹12 lakh limit is for income other than special rate income such as capital gains, so statement 2 is wrong. Answer: 1 only.
The Union Budget 2025-26 extended the time limit for filing updated income-tax returns for any assessment year from two years to:
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Correct answer: B — Four years
PIB Summary (1 Feb 2025): the time limit to file updated returns was increased from two years to four years.
The Prime Minister Dhan-Dhaanya Krishi Yojana announced in the Union Budget 2025-26 will cover how many districts?
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Correct answer: B — 100
PIB (1 Feb 2025): the programme will cover 100 districts with low productivity, moderate crop intensity and below-average credit parameters.
How many farmers is the Prime Minister Dhan-Dhaanya Krishi Yojana expected to help, as per the Union Budget 2025-26?
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Correct answer: C — 1.7 crore
PIB (1 Feb 2025): the programme will help 1.7 crore farmers. The 7.7 crore figure refers to Kisan Credit Card beneficiaries.
The Union Budget 2025-26 raised the loan limit under the Modified Interest Subvention Scheme for Kisan Credit Card loans from ₹3 lakh to:
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Correct answer: D — ₹5 lakh
Budget speech (para 22): the loan limit under the Modified Interest Subvention Scheme will be enhanced from ₹3 lakh to ₹5 lakh for loans taken through the KCC.
The 'Mission for Aatmanirbharta in Pulses' announced in the Union Budget 2025-26 will run for how many years and focus on which pulses?
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Correct answer: A — 6 years; Tur, Urad and Masoor
Budget speech: a 6-year 'Mission for Aatmanirbharta in Pulses' with a special focus on Tur, Urad and Masoor; NAFED and NCCF will procure these pulses during the next 4 years.
By how many times did the Union Budget 2025-26 enhance the investment limit for classification of all MSMEs?
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Correct answer: B — 2.5 times
PIB (1 Feb 2025): investment and turnover limits for classification of all MSMEs will be enhanced to 2.5 and 2 times respectively.
The Union Budget 2025-26 enhanced the credit guarantee cover for micro and small enterprises from ₹5 crore to:
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Correct answer: C — ₹10 crore
PIB (1 Feb 2025): credit guarantee cover for micro and small enterprises enhanced from ₹5 crore to ₹10 crore.