Economy Current Affairs Quiz — All time
Daily news by your exam, state and topic — each with a short summary, key facts and MCQs.
At what MRP is chana dal sold under Bharat Chana Dal Phase-II, launched in Delhi-NCR on 23 October 2024?
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Correct answer: D — ₹70 per kg
PIB, 23 Oct 2024: chana dal at MRP Rs.70 per kg and chana whole at Rs.58 per kg.
How much chana from the price stabilisation buffer is being converted for retail under Bharat Chana Dal Phase-II (23 October 2024)?
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Correct answer: B — 3 lakh tonnes
PIB, 23 Oct 2024: in Phase-II, 3 lakh tons of chana stock from the price stabilisation buffer is being converted to chana dal and chana whole.
Under the Bharat brand (PIB, 23 October 2024), at what price per kg is Bharat Moong Dal retailed?
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Correct answer: A — ₹107
PIB, 23 Oct 2024: Bharat Moong Dal is retailed at Rs.107 per kg, Bharat Moong Sabut at Rs.93 per kg and Bharat Masur Dal at Rs.89 per kg.
As per the Department of Fertilizers (23 October 2024), the MRP of DAP has been maintained since Covid times at:
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Correct answer: C — ₹1,350 per 50 kg bag
PIB, 23 Oct 2024: the MRP of DAP has been maintained at Rs. 1350/- per 50 Kg bag since Covid times.
What special package per tonne was provided for DAP procurement for Rabi 2024, as stated on 23 October 2024?
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Correct answer: A — ₹3,500 per tonne
PIB, 23 Oct 2024: Rs. 3500/- per MT as a special package costing Rs. 2625 crores has been provided to make the price sustainable for companies for procurement of DAP.
What is the total budgetary allocation for fertilizer subsidy for Rabi 2024-25, as stated by the Department of Fertilizers on 23 October 2024?
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Correct answer: B — ₹24,475 crore
PIB, 23 Oct 2024: the total budgetary allocation for Rabi 2024-2025 has been increased to Rs. 24,475 crores.
Under the NFRA-IICA MoU signed on 22 October 2024, what is planned for the first batch of professionals?
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Correct answer: B — A four-month course starting in the last week of December 2024
PIB (released 23 Oct 2024): 'A four-month course to commence from last week of December 2024 for the 1st batch under this MoU.'
Consider the following statements about the NFRA-IICA MoU: 1. It was signed on 22 October 2024 in Delhi. 2. It targets capacity building for early and mid-career auditing and accounting professionals. 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 PIB: the MoU was signed on 22 October 2024 in Delhi, and its key deliverable is capacity-building programmes for early and mid-career auditing and accounting professionals.
According to DoT (22 October 2024), about how many incoming international calls were identified and blocked as spoofed within 24 hours of the new prevention system's operation?
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Correct answer: C — About 1.35 crore
PIB, 22 Oct 2024: the system identified and blocked about 1.35 crore calls as spoofed in the last 24 hours, about 90% of all incoming international calls.
The 'International Incoming Spoofed Calls Prevention System' launched on 22 October 2024 is designed to block:
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Correct answer: D — Incoming international calls that display Indian (+91) numbers by manipulating the calling line identity
PIB, 22 Oct 2024: cyber criminals make international spoofed calls displaying Indian mobile numbers (+91-xxxxxxxxx) by manipulating the calling line identity (CLI); the system identifies and blocks such calls.
While unveiling BSNL's new logo on 22 October 2024, the Minister said BSNL had successfully trialled indigenous 5G RAN and core in which bands?
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Correct answer: B — 3.6 GHz and 700 MHz
PIB, 22 Oct 2024: BSNL has successfully conducted trials of indigenous 5G RAN and core in both the 3.6 GHz and 700 MHz bands.
What is the base year of the All-India CPI for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL), as given in the September 2024 release?
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Correct answer: D — 1986-87=100
PIB, 22 Oct 2024: CPI-AL and CPI-RL (Base: 1986-87=100).
What was the year-on-year inflation rate based on CPI-AL for September 2024?
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Correct answer: A — 6.36%
PIB, 22 Oct 2024: CPI-AL 6.36% and CPI-RL 6.39% in September 2024; 6.70% was CPI-AL in September 2023 and 5.96% was CPI-AL in August 2024.
When bids were opened on 21 October 2024 for the 10th round of commercial coal mine auctions, how many bids were received and for how many mines?
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Correct answer: D — 43 bids for 16 of the 61 mines offered
PIB, 21 Oct 2024: a total of 43 bids were received against 16 coal mines out of 61 coal mines offered in the 10th round.
The 10th round of commercial coal mine auctions (bids opened 21 October 2024) was launched on:
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Correct answer: C — 21 June 2024
PIB, 21 Oct 2024: 'This round was launched on June 21, 2024 and bid submission date was extended twice.'
As per EPFO's provisional payroll data released on 20 October 2024, how many net members were added in August 2024?
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Correct answer: D — 18.53 lakh
PIB, 20 Oct 2024: net addition of 18.53 lakh members in August 2024; 9.30 lakh were new members.
About how many new members did EPFO enrol in August 2024?
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Correct answer: A — 9.30 lakh
PIB, 20 Oct 2024: EPFO enrolled around 9.30 lakh new members in August 2024.
What share of EPFO's new members in August 2024 belonged to the 18-25 age group?
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Correct answer: B — 59.26%
PIB, 20 Oct 2024: the 18-25 age group constituted 59.26% of the total new members added in August 2024.
According to J.P. Nadda at India Chem-2024 (October 2024), India's chemical and petrochemical industry is projected to:
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Correct answer: A — Surpass $300 billion by 2028 and reach $1 trillion by 2040
PIB, 19 Oct 2024: the industry is projected to surpass $300 billion by 2028 and is on track to reach $1 trillion by 2040.
Where was 'India Chem-2024' (17-19 October 2024) held?
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Correct answer: C — Mumbai
PIB, 19 Oct 2024: the three-day event 'India Chem-2024', inaugurated on the 17th, concludes in Mumbai today.
The Chief Ministers of which States were present at the India Chem-2024 keynote session addressed by J.P. Nadda?
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Correct answer: C — Gujarat, Madhya Pradesh and Odisha
PIB, 19 Oct 2024: Nadda addressed the keynote session in the presence of the Chief Ministers of Gujarat, Madhya Pradesh and Odisha.
In the draft JV agreement signed on 19 October 2024 between MOIL and MP State Mining Corporation, what is the shareholding pattern?
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Correct answer: D — MOIL 51% : MPSMCL 49%
PIB, 19 Oct 2024: the JV company will have a shareholding of 51% of MOIL and 49% of MPSMCL.
At which event was the MOIL-MPSMCL draft JV agreement for manganese mining signed on 19 October 2024?
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Correct answer: C — MP Mining Conclave'24, Bhopal
PIB, 19 Oct 2024: MOIL entered into a draft JV agreement with MPSMCL at MP Mining Conclave'24 in Bhopal.
On 18 October 2024, DAY-NRLM signed MoUs for individual financing of women entrepreneurs with:
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Correct answer: D — 9 public sector banks and 1 private bank
PIB, 18 Oct 2024: DAY-NRLM signed MoUs with nine Public Sector Banks and one Private Bank.
The loan products designed under the DAY-NRLM bank MoUs of 18 October 2024 are meant for:
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Correct answer: B — Individual women entrepreneurs under DAY-NRLM
PIB, 18 Oct 2024: banks have designed specific products for financing individual women entrepreneurs under the fold of DAY-NRLM.
As explained at the National SC-ST Hub conclave in Moga (18 October 2024), the Public Procurement Policy mandates what share of public procurement from SC/ST enterprises and from women enterprises?
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Correct answer: A — 4% and 3%
PIB, 18 Oct 2024: the Public Procurement Policy mandated 4% public procurement from SC/ST enterprises and 3% from women enterprises.
Where did the Ministry of MSME organise the National SC-ST Hub conclave on 18 October 2024?
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Correct answer: D — Moga, Punjab
PIB, 18 Oct 2024: the Ministry of MSME organised the National SC-ST Hub (NSSH) Conclave at Moga, Punjab.
Under CBDT's revised compounding guidelines of 17 October 2024, the multiple rates of compounding charges for TDS defaults were replaced by a single rate of:
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Correct answer: D — 1.5% per month
PIB, 17 Oct 2024: for TDS defaults, multiple rates of 2%, 3% and 5% have been reduced to single rate of 1.5% per month.
Consider the following statements about CBDT's revised compounding guidelines issued on 17 October 2024: 1. They apply only to new applications filed after the date of issue. 2. Interest chargeable on delayed payment of compounding charges has been abolished. Which of the statements given above is/are correct?
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Correct answer: B — 2 only
Statement 1 is wrong: PIB says the guidelines apply to pending as well as new applications. Statement 2 is correct: interest chargeable on delayed payment of compounding charges has been abolished.
What is the MSP of wheat for Rabi Marketing Season 2025-26, approved by the CCEA on 16 October 2024?
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Correct answer: D — ₹2,425 per quintal
PIB, 16 Oct 2024 (MSP table): Wheat - MSP RMS 2025-26 ₹2425; MSP RMS 2024-25 ₹2275; increase ₹150.
Which Rabi crop got the highest absolute increase in MSP for Marketing Season 2025-26?
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Correct answer: B — Rapeseed & mustard
PIB, 16 Oct 2024: the absolute highest increase in MSP has been announced for Rapeseed & Mustard at Rs.300 per quintal, followed by Lentil (Masur) at Rs.275 per quintal.
For Rabi Marketing Season 2025-26, the expected margin over the all-India weighted average cost of production is highest for which crop?
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Correct answer: A — Wheat (105%)
PIB, 16 Oct 2024: the expected margin over All-India weighted average cost of production is 105 percent for wheat, followed by 98 percent for rapeseed & mustard; 89 per cent for lentil; ... 50 percent for safflower.
Consider the following statements about the Rabi MSPs for Marketing Season 2025-26 approved on 16 October 2024: 1. Wheat received the highest absolute increase in MSP among Rabi crops. 2. The increase is in line with the Union Budget 2018-19 announcement of fixing MSP at least 1.5 times the all-India weighted average cost of production. Which of the statements given above is/are correct?
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Correct answer: B — 2 only
Statement 1 is wrong: the highest absolute increase was for rapeseed & mustard (₹300); wheat rose by ₹150. Statement 2 is correct per PIB. So statement 2 is correct.
India's total exports (merchandise and services) for April-September 2024, as estimated on 16 October 2024, were:
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Correct answer: C — USD 393.22 billion
PIB, 16 Oct 2024: the cumulative overall exports during April-September 2024 is estimated at USD 393.22 Billion, as compared to USD 375 Billion in April-September 2023. (USD 213.22 bn is merchandise only; USD 448.05 bn is imports.)
What was the estimated growth of India's total exports in April-September 2024 over the same period of 2023?
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Correct answer: B — 4.86%
PIB, 16 Oct 2024: total exports during April-September 2024 estimated at USD 393.22 Billion registering a positive growth of 4.86 percent. (1.02% is merchandise growth; 6.89% is import growth; 3.76% is September growth.)
The additional DA/DR instalment approved by the Cabinet on 16 October 2024 is effective from:
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Correct answer: C — 1 July 2024
PIB, 16 Oct 2024: additional instalment of DA and DR w.e.f. 01.07.2024, an increase of 3% over the existing rate of 50%.
What is the combined annual impact on the exchequer of the 3% DA/DR hike approved on 16 October 2024?
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Correct answer: A — ₹9,448.35 crore
PIB, 16 Oct 2024: the combined impact on the exchequer on account of both DA and DR would be Rs.9,448.35 crore per annum.
South Eastern Coalfields Limited's fourth AMRIT pharmacy, the country's 216th (reported 16 October 2024), is located in:
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Correct answer: C — Bilaspur
PIB, 16 Oct 2024: the 216th AMRIT pharmacy is located at the Health Centre in SECL's Indira Vihar Colony, Bilaspur. (Gevra in Korba and Sohagpur in Shahdol host the earlier ones.)
The Direct Tax Vivad Se Vishwas Scheme, 2024, on which CBDT issued FAQs on 15 October 2024, was enacted through:
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Correct answer: A — The Finance (No. 2) Act, 2024
PIB, 15 Oct 2024: the DTVSV Scheme, 2024 was announced in the Union Budget 2024-25 and enacted through the Finance (No. 2) Act, 2024.
What was the all-India year-on-year CPI inflation rate for September 2024?
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Correct answer: B — 5.49%
MoSPI via PIB (14 Oct 2024): year-on-year inflation rate based on All India CPI for September 2024 is 5.49%.
What was the all-India Consumer Food Price Index (CFPI) inflation for September 2024?
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Correct answer: C — 9.24%
MoSPI via PIB (14 Oct 2024): year-on-year inflation based on All India CFPI is 9.24% (Provisional) for September 2024.
Consider the following statements about CPI data for September 2024: 1. Rural CPI inflation was lower than urban CPI inflation. 2. CFPI inflation was below 5%. Which of the statements given above is/are correct?
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Correct answer: D — Neither 1 nor 2
Neither is correct per MoSPI (14 Oct 2024): rural inflation 5.87% was higher than urban 5.05%, and CFPI inflation was 9.24%.
The PLI Scheme for White Goods, whose third application round drew 38 applicants in October 2024, covers which products?
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Correct answer: C — Air conditioners and LED lights
PIB (14 Oct 2024): PLI Scheme for White Goods (Air Conditioners and LED lights).
What was the net committed investment by the 38 applicants in the third round of the PLI Scheme for White Goods?
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Correct answer: A — ₹4,121 crore
PIB (14 Oct 2024): the third round attracted 38 responses with a net committed investment of Rs 4,121 crore.
What was the annual WPI-based inflation rate (provisional) for September 2024, released on 14 October 2024?
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Correct answer: D — 1.84%
PIB (14 Oct 2024): annual rate of inflation based on all India WPI is 1.84% (Provisional) for September 2024.
What is the base year of the Wholesale Price Index series used for the September 2024 data?
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Correct answer: A — 2011-12
PIB (14 Oct 2024): Index Numbers of Wholesale Price in India for September 2024 (Base Year: 2011-12).
As per the Quick Estimate released on 11 October 2024, what was India's IIP growth rate for August 2024?
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Correct answer: D — (-)0.1 percent
MoSPI via PIB (11 Oct 2024): the IIP growth rate for August 2024 is (-)0.1 percent, against 4.7% in July 2024.
Which sector recorded the steepest decline in the IIP for August 2024, attributed likely to heavy rainfall?
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Correct answer: B — Mining
MoSPI via PIB (11 Oct 2024): mining grew (-)4.3 percent, the steepest fall; the decline is likely due to heavy rainfall in August 2024.
Consider the following statements about the IIP Quick Estimate for August 2024: 1. Manufacturing recorded negative growth. 2. The index for August 2024 was higher than in August 2023. Which of the statements given above is/are correct?
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Correct answer: D — Neither 1 nor 2
Neither statement is correct. MoSPI via PIB (11 Oct 2024): manufacturing grew 1.0 percent, and the index stood at 145.6 against 145.8 in August 2023.
How much tax devolution did the Union Government release to States on 10 October 2024?
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Correct answer: D — ₹1,78,173 crore
Finance Ministry via PIB (10 Oct 2024): the Union Government released tax devolution of ₹1,78,173 crore to State Governments on 10 October 2024.
Which state received the largest amount in the tax devolution released on 10 October 2024?
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Correct answer: B — Uttar Pradesh
PIB state-wise table (10 Oct 2024): Uttar Pradesh received ₹31,962 crore, the largest, followed by Bihar with ₹17,921 crore.
Consider the following statements about the tax devolution released on 10 October 2024: 1. It included one advance instalment in addition to the regular instalment due in October 2024. 2. Bihar received the largest share among the States. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Statement 1 is correct; statement 2 is wrong. PIB (10 Oct 2024): the release includes one advance instalment in addition to the regular October 2024 instalment; Uttar Pradesh (₹31,962 crore) received the largest share, with Bihar (₹17,921 crore) second.
As per CAMS 2022-23 results released on 9 October 2024, what share of persons aged 15-24 can read, write and do simple arithmetic?
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Correct answer: D — 96.9 percent
MoSPI via PIB (9 Oct 2024): approximately 96.9 percent of persons aged 15-24 years can read and write simple statements with understanding and perform simple arithmetic.
According to CAMS 2022-23, what are the mean years of formal schooling for persons aged 15 years and above at the all-India level?
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Correct answer: B — 8.4
MoSPI via PIB (9 Oct 2024): mean years of schooling in formal education for persons aged 15 and above is 8.4; for 25 and above it is 7.5.
Consider the following statements about the CAMS 2022-23 results: 1. CAMS was conducted as part of the 79th round of the National Sample Survey. 2. Average household out-of-pocket expenditure on hospitalisation was higher in rural areas than in urban areas. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Only statement 1 is correct. MoSPI via PIB (9 Oct 2024): CAMS was part of the NSS 79th round; hospitalisation out-of-pocket expenditure was Rs 4,129 rural and Rs 5,290 urban, so it was higher in urban areas.
In which city was the 12th meeting of the India-UAE High Level Joint Task Force on Investments held on 7 October 2024?
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Correct answer: A — Mumbai
PIB (7 Oct 2024): the 12th Meeting of the India-UAE HLJTFI took place in Mumbai.
In which year was the India-UAE High Level Joint Task Force on Investments established?
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Correct answer: D — 2013
PIB (7 Oct 2024): the HLJTFI was established in 2013 to promote trade, investment and economic ties between India and the UAE.
India's UPI is to be interlinked with which UAE national payment platform, as stated after the 12th HLJTFI meeting?
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Correct answer: B — AANI
PIB (7 Oct 2024): interlinking of the two national payment platforms - UPI (India) and AANI (UAE) - to facilitate seamless cross-border transactions.
The internal committee formed by CBDT in October 2024 will comprehensively review which law?
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Correct answer: A — Income-tax Act, 1961
PIB (7 Oct 2024): CBDT has formed an internal committee to oversee a comprehensive review of the Income-tax Act, 1961.
Consider the following about the review of the Income-tax Act announced on 7 October 2024: 1. The internal committee was formed by the Central Board of Indirect Taxes and Customs (CBIC). 2. 'Compliance Reduction' is one of the four categories in which suggestions are invited. Which of the statements given above is/are correct?
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Correct answer: B — 2 only
Statement 1 is incorrect: the committee was formed by the Central Board of Direct Taxes (CBDT). Statement 2 is correct: the four categories are simplification of language, litigation reduction, compliance reduction, and redundant/obsolete provisions.
At the Textiles Ministry's World Cotton Day 2024 event, industry signed MoUs to promote which Indian cotton brand?
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Correct answer: A — Kasturi Cotton
PIB (7 Oct 2024): industry signed several Memorandum of Understandings to promote the Indian Kasturi Cotton brand.
The Abu Dhabi Investment Authority (ADIA), which commenced India operations in October 2024, opened its office in:
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Correct answer: C — GIFT City, Gujarat
PIB (7 Oct 2024): ADIA, the UAE's largest sovereign wealth fund, has commenced its India operations after opening its office in the GIFT City.
According to Dr Jitendra Singh on 6 October 2024, how much has been earmarked for a Venture Fund for space start-ups?
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Correct answer: C — Rs 1,000 crore
PIB (6 Oct 2024): Rupees 1,000 crore has been earmarked for Venture Fund to Space StartUps, said Dr Jitendra Singh.
As per Dr Jitendra Singh in October 2024, India's space sector now has about how many start-ups?
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Correct answer: A — 200 plus
PIB (6 Oct 2024): 'From one digit we are now 200 plus StartUps in Space sector.'
Which rocket did Dr Jitendra Singh refer to as India's first private rocket?
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Correct answer: D — Vikram-S
PIB (6 Oct 2024): he referred to India's first private Rocket, Vikram-S.
Surda Mine, whose operations resumed on 5 October 2024, is operated by Hindustan Copper Limited for mining which metal?
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Correct answer: C — Copper
PIB (5 Oct 2024): resumption of HCL's Surda Mine operation is a significant step towards making the nation self-reliant in copper.
HCL plans to raise the mining capacity of Surda Mine from 0.4 mtpa to what level in the next seven years?
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Correct answer: A — 0.9 mtpa
PIB (5 Oct 2024): HCL has plans to enhance the mining capacity of Surda mine from the current level of 0.4 mtpa to 0.9 mtpa in the next seven years.
What was the size of the foreign currency term loan announced by Power Finance Corporation on 4 October 2024, the largest-ever by an Indian PSU?
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Correct answer: B — USD 1.265 billion
PIB (4 Oct 2024): PFC closed the largest-ever foreign currency term loan from an Indian PSU amounting to USD 1.265 billion.
PFC's USD 1.265 billion term loan of October 2024 is denominated in which currencies?
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Correct answer: C — USD, EUR and JPY
PIB (4 Oct 2024): the floating rate loan is denominated in G3 currencies - USD, EUR and JPY - with a 5-year tenor.