Economy Current Affairs Quiz — All time
Daily news by your exam, state and topic — each with a short summary, key facts and MCQs.
In which state did the Union Budget 2025-26 announce the establishment of a Makhana Board?
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Correct answer: A — Bihar
Budget speech and PIB (1 Feb 2025): a Makhana Board will be established in Bihar to improve production, processing, value addition and marketing of makhana.
The Western Koshi Canal ERM Project, which got financial support in the Union Budget 2025-26, benefits farmers in which region of Bihar?
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Correct answer: C — Mithilanchal
Budget speech: financial support will be provided for the Western Koshi Canal ERM Project, benefitting farmers cultivating over 50,000 hectares of land in the Mithilanchal region of Bihar.
The ₹1 lakh crore Urban Challenge Fund announced in the Union Budget 2025-26 will finance up to what share of the cost of bankable projects?
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Correct answer: A — 25 per cent
PIB (1 Feb 2025): the fund will finance up to 25 per cent of the cost of bankable projects, with at least 50 per cent of the cost funded from bonds, bank loans and PPPs.
Until which year was the Jal Jeevan Mission extended in the Union Budget 2025-26?
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Correct answer: D — 2028
PIB (1 Feb 2025): Jal Jeevan Mission extended until 2028, with the total budget outlay enhanced to ₹67,000 crore.
The Union Budget 2025-26 raised the FDI limit for the insurance sector from 74% to:
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Correct answer: A — 100 per cent
PIB (1 Feb 2025): the FDI limit for the insurance sector will be raised from 74 to 100 per cent.
Consider the following statements about the Union Budget 2025-26: 1. The enhanced insurance FDI limit is available only to companies that invest the entire premium in India. 2. The 'Grameen Credit Score' framework will be developed by the Reserve Bank of India. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
PIB and Budget speech: the higher FDI limit is for companies investing the entire premium in India, so statement 1 is correct. The Grameen Credit Score framework will be developed by Public Sector Banks, not the RBI, so statement 2 is wrong. Answer: 1 only.
The Union Budget 2025-26 allocation for the Ministry of Defence was how much higher than the 2024-25 Budget Estimate?
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Correct answer: C — 9.53%
PIB (1 Feb 2025): the allocation of ₹6,81,210.27 crore is 9.53% more than the Budgetary Estimate of 2024-25. 13.45% is its share of the Union Budget.
How much did the Union Budget 2025-26 allocate for capital outlay on defence services?
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Correct answer: B — ₹1.80 lakh crore
PIB (1 Feb 2025): ₹1.80 lakh crore (₹1,80,000 crore), i.e. 26.43% of the total allocation, is for capital outlay on defence services; ₹1.12 lakh crore of the capital budget is earmarked for domestic procurement.
Where will the 12.7 lakh metric ton urea plant announced in the Union Budget 2025-26 be set up?
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Correct answer: D — Namrup, Assam
Budget speech (para 23): a plant with annual capacity of 12.7 lakh metric tons will be set up at Namrup, Assam.
What real GDP growth range did the Economic Survey 2024-25 project for FY26?
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Correct answer: B — 6.3–6.8%
PIB 2097919: the real GDP is projected to grow between 6.3 and 6.8 per cent in FY26; FY25 growth was estimated at 6.4%.
According to the Economic Survey 2024-25, the gross NPA ratio of scheduled commercial banks fell to a 12-year low of:
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Correct answer: A — 2.6%
PIB 2097919: GNPA of scheduled commercial banks declined to a 12-year low of 2.6 per cent.
The Economic Survey 2024-25 used the German term 'Mittelstand' to refer to which sector it wants to build up in India?
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Correct answer: A — Small and medium enterprises
PIB 2097919: the focus of reforms and Ease of Doing Business 2.0 is to create India's Mittelstand, i.e. India's SME sector.
Consider the following statements about the Economic Survey 2024-25: 1. It estimated FY25 real GDP growth at 6.4%. 2. It said forex reserves of USD 640.3 billion could cover 10.9 months of imports. 3. It reported retail inflation rising from 4.9% in FY24 to 5.4% in April–December 2024. Which of the statements given above is/are correct?
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Correct answer: B — 1 and 2 only
PIB 2097919: FY25 growth was 6.4% and forex of USD 640.3 billion covered 10.9 months of imports; retail inflation softened from 5.4% in FY24 to 4.9% in April–December 2024, so statement 3 reverses the figures.
Which new administrative department did the Assam Cabinet approve on 31 January 2025 to support startups?
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Correct answer: A — Department of Innovation, Incubation and Startup
Economic Times and Assam Tribune: the Cabinet approved creation of a new administrative department, the 'Department of Innovation, Incubation and Startup'.
Consider the following policies approved by the Assam Cabinet on 31 January 2025: 1. Assam Startup and Innovation Policy 2025 2. Assam Aerospace and Defence Manufacturing Policy 2025 3. Assam Action Plan on BioE3 Policy Which of the above were approved?
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Correct answer: D — 1, 2 and 3
Economic Times and Assam Tribune: the Cabinet approved all three, the Startup and Innovation Policy 2025, the Aerospace and Defence Manufacturing Policy 2025 and the BioE3 Action Plan.
What is the combined weight of the eight core industries in the Index of Industrial Production (IIP)?
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Correct answer: B — 40.27%
PIB 2098037: the eight core industries comprise 40.27 per cent of the weight of items included in the IIP.
Which of the eight core industries recorded a decline in December 2024?
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Correct answer: A — Natural gas
PIB 2098037: all core sectors except natural gas, which declined 1.8%, recorded positive growth in December 2024.
What was the Ground Level Agriculture Credit target set for FY 2024-25?
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Correct answer: C — ₹27.5 lakh crore
PIB 2098065: the GLC target for FY 2024-25 is ₹27.5 lakh crore; ₹19.28 lakh crore was disbursed by 31.12.2024 and ₹25.48 lakh crore was the FY24 disbursement.
What sub-target for allied activities was included in the FY 2024-25 Ground Level Agriculture Credit target?
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Correct answer: B — ₹4.20 lakh crore
PIB 2098065: a dedicated sub-target of ₹4.20 lakh crore was set for allied activities such as dairy, poultry and fisheries.
On which virtual digital asset service provider did FIU-IND impose a ₹9.27 crore penalty in January 2025?
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Correct answer: A — Bybit Fintech Limited
PIB 2098153: FIU-IND imposed a penalty of ₹9,27,00,000 on Bybit Fintech Limited, a VDA service provider.
Under which law did FIU-IND impose the January 2025 penalty on Bybit?
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Correct answer: C — Prevention of Money Laundering Act, 2002
PIB 2098153: the penalty was imposed under Section 13 of the Prevention of Money Laundering Act, 2002 for violating Section 12(1) and the PML Rules.
What was the average monthly per capita consumption expenditure (MPCE) in rural India in 2023-24, as per HCES 2023-24 (without imputation)?
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Correct answer: D — ₹4,122
PIB 2097601: average MPCE in 2023-24 was ₹4,122 (rural) and ₹6,996 (urban) without imputed values; with imputation ₹4,247 and ₹7,078.
Among major states, which state had the lowest urban–rural gap in average MPCE in 2023-24 according to HCES 2023-24?
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Correct answer: A — Kerala
PIB 2097601: the lowest urban–rural gap in 2023-24 was in Kerala (about 18%) and the highest in Jharkhand (around 83%).
Consider the following statements about HCES 2023-24: 1. The urban–rural gap in MPCE declined to 70% in 2023-24. 2. The Gini coefficient of consumption in rural areas declined to 0.237. 3. The Gini coefficient in urban areas rose compared to 2022-23. Which of the statements given above is/are correct?
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Correct answer: B — 1 and 2 only
PIB 2097601: the urban–rural gap fell to 70% and rural Gini fell to 0.237; urban Gini also fell, from 0.314 to 0.284, so statement 3 is wrong.
What is the total outlay of the National Critical Mineral Mission approved by the Union Cabinet on 29 January 2025?
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Correct answer: D — ₹34,300 crore
PIB 2097308: ₹16,300 crore government expenditure plus ₹18,000 crore expected investment by PSUs etc. makes ₹34,300 crore over seven years.
Over what period will the National Critical Mineral Mission's ₹34,300 crore outlay be spread?
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Correct answer: C — Seven years
PIB 2097308: the outlay of ₹34,300 crore is over seven years.
Consider the following statements about the National Critical Mineral Mission: 1. It was announced in the Union Budget 2024-25. 2. It proposes a national stockpile of critical minerals. 3. It excludes offshore exploration of critical minerals. Which of the statements given above is/are correct?
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Correct answer: B — 1 and 2 only
PIB 2097308: the mission was announced in the Budget on 23 July 2024 and proposes a stockpile; it will intensify exploration within the country and in its offshore areas.
What guarantee coverage does the Mutual Credit Guarantee Scheme for MSMEs, approved in January 2025, provide to lenders?
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Correct answer: B — 60%
PIB 2097455: NCGTC provides 60% guarantee coverage to member lending institutions for credit up to ₹100 crore.
Consider the following statements about MCGS-MSME: 1. Loans up to ₹100 crore are eligible for guarantee cover. 2. Equipment or machinery must be at least 75% of the project cost. 3. The guarantee is provided by SIDBI. Which of the statements given above is/are correct?
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Correct answer: B — 1 and 2 only
PIB 2097455: loans up to ₹100 crore are covered and equipment must be at least 75% of project cost; the guarantee is given by the National Credit Guarantee Trustee Company (NCGTC), not SIDBI.
According to ASUSE 2023-24, which state had the highest number of unincorporated sector establishments?
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Correct answer: C — Uttar Pradesh
PIB 2097316: Uttar Pradesh had the highest number of establishments, followed by West Bengal and Maharashtra.
By how much did the number of establishments in the unincorporated sector grow in ASUSE 2023-24 over 2022-23?
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Correct answer: B — 12.84%
PIB 2097316: establishments grew 12.84% (6.50 crore to 7.34 crore); workers grew 10.01% and GVA 16.52%.
Which state topped Gross Value Added in the unincorporated sector as per ASUSE 2023-24?
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Correct answer: C — Maharashtra
PIB 2097316: the top three states in GVA were Maharashtra, Uttar Pradesh and Gujarat.
'Utkarsh Odisha' – Make in Odisha Conclave 2025 was inaugurated by the Prime Minister on 28 January 2025 in which city?
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Correct answer: A — Bhubaneswar
PIB 2096929: the PM inaugurated the conclave and exhibition in Bhubaneswar on 28 January 2025.
At the Utkarsh Odisha conclave, the PM referred to dedicated industrial parks and investment regions for the petro and petrochemical sector at which two places in Odisha?
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Correct answer: A — Paradip and Gopalpur
PIB 2096929: dedicated industrial parks and investment regions were being developed in Paradip and Gopalpur.
Renew Exim DMCC, whose acquisition of up to 72.64% of ITD Cementation India was approved by CCI in January 2025, belongs to which group?
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Correct answer: B — Adani group
PIB 2097096: the acquirer is incorporated in Dubai and belongs to the Adani group.
ITD Cementation India Limited, whose acquisition was approved by CCI in January 2025, is mainly engaged in which business?
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Correct answer: B — Engineering and construction (EPC)
PIB 2097096: ITD Cementation India is an engineering and construction company undertaking heavy civil, infrastructure and EPC business.
DPIIT signed an MoU on 28 January 2025 with which institute to strengthen the startup ecosystem of Jammu & Kashmir?
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Correct answer: A — Jammu & Kashmir Entrepreneurship Development Institute
PIB 2097035: DPIIT and the Jammu & Kashmir Entrepreneurship Development Institute (JKEDI) signed the MoU at JKEDI's Baribrahamna campus.
When was the JK Startup Policy, credited with over 250 new DPIIT startup registrations in J&K, launched?
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Correct answer: D — March 2024
PIB 2097035: the JK Startup Policy was launched in March 2024 and led to over 250 new registrations, taking the total to 988.
Where did India and Oman sign the protocol amending their Double Taxation Avoidance Agreement on 27 January 2025?
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Correct answer: A — Muscat
Oman Ministry of Foreign Affairs (27 January 2025): the protocol was signed in Muscat.
Which session of the India-Oman Joint Commission Meeting did Piyush Goyal co-chair during his January 2025 visit to Oman?
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Correct answer: C — 11th
PIB 2097043: Goyal co-chaired the 11th Session of the India-Oman JCM with Qais bin Mohammed Al Yousef.
As of 27 January 2025, what was the total area reported under Rabi crops?
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Correct answer: C — Over 655.88 lakh ha
PIB 2096743: Rabi crop sowing exceeded 655.88 lakh hectares as on 27 January 2025.
Which crop covered the largest Rabi area as of 27 January 2025, at 324.38 lakh hectares?
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Correct answer: B — Wheat
PIB 2096743: wheat covered 324.38 lakh ha, against 315.63 lakh ha a year earlier.
According to the SBI report highlighted on 26 January 2025, what were total investment announcements in April–December 2024?
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Correct answer: C — ₹32.01 lakh crore
PIB 2096480: investment announcements in 9MFY25 stood at ₹32.01 lakh crore, up 39% from ₹23 lakh crore in 9MFY24.
Consider the following statements based on the SBI report highlighted by the Finance Ministry in January 2025: 1. Household net financial savings rose to 5.3% of GDP in FY24. 2. Private corporate investment reached 11.9% of GDP in FY23, the highest since FY16. 3. The public sector accounted for nearly 70% of investment announcements in 9MFY25. Which of the statements given above is/are correct?
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Correct answer: B — 1 and 2 only
PIB 2096480: HNFS rose to 5.3% of GDP in FY24 and private corporate investment hit 11.9% of GDP in FY23; nearly 70% of 9MFY25 announcements came from the private sector, not the public sector.
Which Indonesian President was the chief guest at India's first Republic Day in 1950, as recalled during Prabowo Subianto's 2025 visit?
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Correct answer: A — Sukarno
PIB 2096322: President Murmu noted that 75 years ago, at the first Republic Day in 1950, President Sukarno of Indonesia was the chief guest.
Consider the following outcomes of the Indonesian President's State Visit to India in January 2025: 1. An MoU on traditional medicine quality assurance with the Indonesian Food and Drug Authority. 2. A Cultural Exchange Programme for 2025-28. 3. An MoU on space cooperation between ISRO and Indonesia's space agency. Which of the above were listed among the outcomes?
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Correct answer: B — 1 and 2 only
PIB 2096278: outcomes included the traditional medicine MoU (PCIM&H–Indonesian FDA), MoUs on health and digital development and a 2025-28 cultural exchange programme; no space MoU was listed.
Which edition of the India-Indonesia CEOs Forum presented its joint report during the January 2025 State Visit?
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Correct answer: C — 3rd
PIB 2096278: the co-chairs of the 3rd India-Indonesia CEOs Forum presented their joint report.
Which state topped NITI Aayog's inaugural Fiscal Health Index 2025?
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Correct answer: D — Odisha
PIB 2095974: Odisha topped with a score of 67.8, followed by Chhattisgarh (55.2) and Goa (53.6).
Who launched NITI Aayog's Fiscal Health Index 2025 on 24 January 2025?
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Correct answer: A — Arvind Panagariya
PIB 2095974: 16th Finance Commission Chairman Arvind Panagariya launched the inaugural FHI 2025.
Which of the following is NOT one of the five sub-indices of NITI Aayog's Fiscal Health Index 2025?
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Correct answer: D — Ease of Doing Business
PIB 2095974: the sub-indices are Quality of Expenditure, Revenue Mobilisation, Fiscal Prudence, Debt Index and Debt Sustainability.
Which state ranked second in NITI Aayog's Fiscal Health Index 2025?
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Correct answer: A — Chhattisgarh
PIB 2095974: Odisha (67.8) was followed by Chhattisgarh (55.2) and Goa (53.6).
NUCFDC, whose corporate office was inaugurated in Mumbai on 24 January 2025, is the umbrella organisation for which institutions?
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Correct answer: B — Urban cooperative banks
PIB 2095982: the National Urban Cooperative Finance and Development Corporation is the umbrella organisation for urban cooperative banks.
How many urban cooperative banks does India have, according to the Cooperation Minister on 24 January 2025?
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Correct answer: C — 1,465
PIB 2095982: India has 1,465 urban cooperative banks, nearly half in Gujarat and Maharashtra, and 49 scheduled cooperative banks.
Which ministry was the top procurer on the Government e Marketplace in FY 2024-25 as of January 2025?
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Correct answer: A — Ministry of Coal
PIB 2095901: the Ministry of Coal emerged as the top procurer with transacted order value of nearly ₹1.63 lakh crore.
What share of GeM's gross merchandise value in FY 2024-25 (as of 23 January 2025) came from the services segment?
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Correct answer: C — 62%
PIB 2095901: services accounted for ₹2.54 lakh crore, 62% of total GMV; products were 38%.
What was GeM's gross merchandise value for FY 2024-25 as on 23 January 2025?
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Correct answer: C — ₹4.09 lakh crore
PIB 2095901: GeM clocked a GMV of ₹4.09 lakh crore as on 23 January 2025, nearly 50% above the same period last year.
How many new employees were enrolled under the ESI Scheme in November 2024, as per ESIC's provisional payroll data?
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Correct answer: B — 16.07 lakh
PIB 2095848: 16.07 lakh new employees were added in November 2024, against 15.92 lakh in November 2023.
What share of new ESI registrations in November 2024 belonged to the age group of up to 25 years?
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Correct answer: C — About 47%
PIB 2095848: 7.57 lakh employees, around 47.11% of total registrations, were up to 25 years of age.
What was the year-on-year inflation rate based on CPI-AL for December 2024?
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Correct answer: A — 5.01%
PIB 2095463: CPI-AL inflation was 5.01% in December 2024, against 5.35% in November 2024 and 7.71% in December 2023.
What is the base year of the CPI for Agricultural Labourers and Rural Labourers?
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Correct answer: B — 1986-87 = 100
PIB 2095463: CPI-AL and CPI-RL have base 1986-87 = 100.
Consider the following about CPI-AL and CPI-RL for December 2024: 1. Both indices were unchanged from November 2024. 2. CPI-RL stood at 1331 points. 3. CPI-RL inflation was higher than in December 2023. Which of the statements given above is/are correct?
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Correct answer: C — 1 and 2 only
PIB 2095463: CPI-AL (1320) and CPI-RL (1331) were unchanged; CPI-RL inflation fell to 5.05% from 7.46% in December 2023.
RMBS Development Company Limited (RDCL), which got an RBI Certificate of Registration in January 2025, was set up by which body?
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Correct answer: C — National Housing Bank
PIB 2096815: National Housing Bank set up RDCL as its single largest shareholder.
What is the paid-up capital of RMBS Development Company Limited (RDCL)?
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Correct answer: A — ₹500 crore
PIB 2096815: RDCL's paid-up capital is ₹500 crore, with its registered office in Mumbai.
According to MeitY's January 2025 report, what share of national income did India's digital economy account for in 2022-23?
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Correct answer: A — 11.74%
PIB 2095260: India's digital economy was estimated at 11.74% of national income in 2022-23.
With MeitY's digital economy estimates, India became the first developing country to use which organisation's framework to size its digital economy?
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Correct answer: C — OECD
PIB 2095260: India is the first among developing countries to use the OECD framework; alternate estimates use the ADB input-output approach.
Consider the following about MeitY's report on India's digital economy (January 2025): 1. The digital economy was worth ₹31.64 lakh crore in 2022-23. 2. It is projected to contribute one-fifth of GDP by 2030. 3. It also gives alternate estimates using the ADB's input-output approach. Which of the statements given above is/are correct?
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Correct answer: D — 1, 2 and 3
PIB 2095260: the digital economy equalled ₹31.64 lakh crore in 2022-23, is projected at one-fifth of GDP by 2030, and alternate estimates use the ADB input-output approach.
At which meeting did Odisha's State Level Single Window Clearance Authority approve 17 projects worth ₹3,883.72 crore on 22 January 2025?
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Correct answer: D — 134th
Sambad English and ET: the projects were approved at the 134th SLSWCA meeting.
Who chaired the 134th meeting of Odisha's State Level Single Window Clearance Authority?
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Correct answer: B — Chief Secretary Manoj Ahuja
Sambad English and ET: the meeting was chaired by Chief Secretary Manoj Ahuja.
With which company did Maharashtra sign its largest MoU, worth ₹3,05,000 crore, at Davos in January 2025?
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Correct answer: C — Reliance Industries
ET (citing CMO Maharashtra): the largest MoU was with Reliance Industries, worth ₹3,05,000 crore.
How many MoUs worth ₹15.70 lakh crore had Maharashtra signed at Davos by 22 January 2025?
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Correct answer: A — 54
ET: Maharashtra had signed 54 MoUs worth ₹15.70 lakh crore over two days, the government stated on 22 January.