Economy Current Affairs Quiz — Last 12 months
Daily news by your exam, state and topic — each with a short summary, key facts and MCQs.
According to Dr Jitendra Singh (June 2026), the number of start-ups in India has grown from around 350 to about how many?
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Correct answer: A — 2.3 lakh
Start-ups grew from around 350 to about 2.3 lakh ventures.
Consider the following statements based on Dr Jitendra Singh's remarks of 13 June 2026: 1. India's start-up movement has created nearly 24–25 lakh jobs over the last decade. 2. India is the world's second-largest start-up ecosystem. Which of the statements given above is/are correct?
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Correct answer: B — 1 only
Statement 1 is correct. Statement 2 is wrong: the release calls India the world's third-largest start-up ecosystem.
What was all-India retail inflation (CPI, base 2024) for May 2026, as released on 12 June 2026?
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Correct answer: A — 3.93%
Headline CPI inflation for May 2026 was 3.93% (provisional).
What was food inflation based on the All India Consumer Food Price Index (CFPI) for May 2026?
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Correct answer: C — 4.78%
CFPI-based food inflation for May 2026 was 4.78% (provisional).
According to the CPI release for May 2026, how did rural and urban retail inflation compare?
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Correct answer: B — Rural 4.25%, urban 3.53%
Rural inflation was 4.25% and urban inflation was 3.53%.
Consider the following statements about the CPI release of 12 June 2026: 1. The CPI series used has 2024 as its base year (2024=100). 2. The release is issued by the Ministry of Statistics and Programme Implementation. 3. Rural inflation in May 2026 was higher than urban inflation. Which of the statements given above is/are correct?
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Correct answer: D — 1, 2 and 3
All three are correct: the series is on base 2024=100, released by MoSPI, and rural inflation (4.25%) exceeded urban (3.53%).
What cap is included in the diesel retail supply order notified by the Petroleum Ministry on 12 June 2026, which the ministry said is far above a private vehicle's need?
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Correct answer: B — 200 litres
The order includes a 200-litre cap aimed at bulk buyers, not ordinary motorists.
According to the Petroleum Ministry, in how many districts did diesel sales at PSU OMC retail outlets grow by more than 10% in May 2026 over May 2025?
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Correct answer: D — 327
327 districts recorded more than 10% growth, and 80 districts saw growth above 30%.
What was the main reason given by the Petroleum Ministry for bulk diesel buyers shifting to PSU retail outlets in 2026?
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Correct answer: C — Difference between bulk and retail diesel prices
Industrial and institutional consumers shifted to retail outlets because of the difference between bulk and retail diesel prices.
What was the theme of the 11th Governing Council Meeting of NITI Aayog held on 11 June 2026?
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Correct answer: A — Inclusive Human Development for Viksit Bharat@2047
The theme was 'Inclusive Human Development for Viksit Bharat@2047'.
Where was the 11th Governing Council Meeting of NITI Aayog held in June 2026?
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Correct answer: C — Rashtrapati Bhavan Cultural Centre, New Delhi
The meeting was held at the Rashtrapati Bhavan Cultural Centre, New Delhi.
Consider the following statements about the 11th Governing Council Meeting of NITI Aayog (June 2026): 1. It was the first time the Chief Ministers of all 28 States participated in a Governing Council Meeting. 2. The Prime Minister called for a monitoring framework with targeted 100-day and five-year goals. Which of the statements given above is/are correct?
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Correct answer: D — Both 1 and 2
Both statements are in the PIB release on the meeting.
NITI Aayog, whose Governing Council met for the 11th time in June 2026, was constituted through which of the following?
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Correct answer: B — A resolution of the Union Cabinet dated 1 January 2015
NITI Aayog was constituted through a resolution of the Union Cabinet dated 1 January 2015.
Where did the Ministry of Coal hold a roadshow on coal and lignite gasification projects on 11 June 2026?
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Correct answer: C — Hyderabad
The roadshow on coal and lignite gasification projects was held in Hyderabad.
Consider the following statements made by the Coal Minister at the June 2026 gasification roadshow: 1. India has nearly 400 billion tonnes of coal reserves, the fifth largest in the world. 2. India is the world's second-largest producer and consumer of coal. Which of the statements given above is/are correct?
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Correct answer: A — Both 1 and 2
G. Kishan Reddy made both points in his keynote at the Hyderabad roadshow.
According to the Second Advance Estimates of 2025-26 released in June 2026, total horticulture production in India is estimated at about how much?
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Correct answer: C — 3,777.76 lakh tonne
Total horticulture production for 2025-26 is estimated at 3,777.76 lakh tonne; 3,707.38 lakh tonne was the 2024-25 final figure.
Consider the following statements about the Second Advance Estimates of horticulture for 2025-26: 1. Fruit production is expected to grow faster than vegetable production. 2. Onion production is estimated to be higher than in 2024-25. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Fruits are expected to grow 3.25% against 1.47% for vegetables, so statement 1 is correct. Onion is estimated at 307.37 lakh tonne against 307.67 lakh tonne in 2024-25, a slight fall, so statement 2 is wrong.
As per the 2025-26 Second Advance Estimates, which vegetable has the largest estimated production among onion, potato and tomato?
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Correct answer: B — Potato
Potato is estimated at 598.89 lakh tonne, ahead of onion (307.37) and tomato (214.61).
How many companies in total have been selected under Round-3 of the PLI Scheme for Textiles, as announced in June 2026?
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Correct answer: B — 96
96 companies have been selected under Round-3, including the 22 new applicants approved in June 2026.
What is the total committed investment of the 96 companies selected under Round-3 of the Textile PLI Scheme?
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Correct answer: A — ₹12,822.67 crore
Committed investment is ₹12,822.67 crore; ₹58,294.18 crore is the projected turnover and ₹10,683 crore the scheme outlay.
Consider the following statements about the PLI Scheme for Textiles: 1. The scheme was approved with a budgetary outlay of ₹10,683 crore. 2. It covers MMF apparel, MMF fabrics and segments/products of technical textiles. 3. It primarily targets cotton yarn and handloom products. Which of the statements given above is/are correct?
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Correct answer: C — 1 and 2 only
Statements 1 and 2 are correct as per PIB. Statement 3 is wrong: the scheme targets MMF apparel, MMF fabrics and technical textiles, not cotton yarn or handloom.
As on 9 June 2026, what was the total amount of guarantees issued under ECLGS 5.0?
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Correct answer: A — ₹48,484.26 crore
1,06,549 guarantees worth ₹48,484.26 crore had been issued; ₹2,55,000 crore is the scheme's target for additional credit.
Consider the following statements about ECLGS 5.0: 1. It was approved by the Union Cabinet on 5 May 2026. 2. It provides 100% guarantee cover to MSME loans and 90% to non-MSME loans. 3. Private sector banks account for most of the guarantees issued. Which of the statements given above is/are correct?
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Correct answer: D — 1 and 2 only
Statements 1 and 2 are correct. Statement 3 is wrong: public sector banks account for 96% of the guarantees.
What is the name of the Land Port Management System inaugurated by Amit Shah on 9 June 2026?
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Correct answer: C — VINIMAY
The Land Port Management System is named VINIMAY.
As per the Home Ministry (June 2026), how many land ports are currently operational in India?
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Correct answer: A — Fifteen
Fifteen land ports are operational, with 11 more planned over the next three years.
Consider the following statements about the Land Port Management System (VINIMAY): 1. It has eliminated about 90% of paperwork and introduced a Single Electronic Window. 2. Land port trade has grown from ₹5,000 crore in 2014 to ₹83,000 crore. Which of the statements given above is/are correct?
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Correct answer: B — Both 1 and 2
Both points are in the Home Ministry release of 9 June 2026.
The National Level Policy Implementation and Monitoring Committee that held its first meeting on 9 June 2026 was constituted under which policy?
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Correct answer: A — National Cooperation Policy-2025
The committee was constituted under the National Cooperation Policy-2025 and is chaired by the Secretary, Ministry of Cooperation.
BHAVYA, whose portal was launched on 8 June 2026, stands for:
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Correct answer: A — Bharat Audyogik Vikas Yojana
BHAVYA is the Bharat Audyogik Vikas Yojana.
Which organisation is the Project Management Agency for the BHAVYA scheme?
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Correct answer: C — NICDC
The National Industrial Corridor Development Corporation (NICDC) is designated as the Project Management Agency.
Consider the following statements about the BHAVYA scheme: 1. It aims to develop 100 industrial parks with a Cabinet-approved outlay of ₹33,660 crore. 2. Land for the parks will be provided by the Central Government. Which of the statements given above is/are correct?
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Correct answer: B — 1 only
Statement 1 is correct. Statement 2 is wrong: land will be provided by the State Governments, while the Centre supports infrastructure through NICDC.
India secured continued EU market access beyond September 2026 for which group of products?
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Correct answer: B — Aquaculture products, eggs, honey and animal casings
India was included on the EU list of countries authorised to export aquaculture products, eggs, honey and animal casings.
The EU amended Regulation (EU) 2021/405 through Implementing Regulation (EU) 2026/1189 in view of concerns over:
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Correct answer: D — Antimicrobial Resistance
The amendment was made in view of growing concerns relating to Antimicrobial Resistance (AMR).
The first export consignment of GI-tagged Tezpur Litchi from Assam, facilitated by APEDA on 7 June 2026, was sent to:
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Correct answer: A — Dubai
APEDA facilitated the first export consignment of GI-tagged Tezpur Litchi from Assam to Dubai.
What was the size of the first export consignment of Tezpur Litchi sent on 7 June 2026?
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Correct answer: C — 1 metric tonne
The consignment was of one metric tonne.
Consider the following statements about the Tezpur Litchi export of 7 June 2026: 1. APEDA, which facilitated it, functions under the Ministry of Commerce & Industry. 2. Growers linked to the export chain received nearly 10% higher prices than prevailing domestic rates. Which of the statements given above is/are correct?
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Correct answer: B — Both 1 and 2
Both are stated in the Commerce Ministry release.
According to the Petroleum Ministry on 7 June 2026, what effective price does a PMUY beneficiary pay for a 14.2 kg LPG cylinder?
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Correct answer: A — ₹642
A PMUY beneficiary pays an effective ₹642; the general Delhi consumer pays ₹942.
What targeted subsidy do Ujjwala households receive on LPG, as stated on 7 June 2026?
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Correct answer: C — ₹300 a cylinder on the first four refills each year
Ujjwala households receive ₹300 a cylinder on the first four refills each year — ₹1,200 per beneficiary a year.
Consider the following statements based on the Petroleum Ministry's note of 7 June 2026: 1. Cumulative under-recovery on domestic LPG reached ₹60,000 crore by the end of the last financial year. 2. The Union Cabinet approved compensation of ₹30,000 crore to the oil marketing companies. 3. The Saudi CP for LPG has fallen by about 46% since February. Which of the statements given above is/are correct?
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Correct answer: B — 1 and 2 only
Statements 1 and 2 are correct. Statement 3 is wrong: the Saudi CP for LPG has risen by about 46% since February.
Under the amended SoP announced on 6 June 2026, which of the following is NOT a permitted standard pack size for edible oils?
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Correct answer: C — 10 litre/kg
The permitted sizes are 200 ml/g, 500 ml/g and 1, 2, 3, 4, 5, 15 and 20 litre/kg; 10 litre/kg is not in the list.
When edible oil quantity is shown in volume, the requirement to also declare equivalent weight follows which rules?
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Correct answer: A — Legal Metrology (Packaged Commodities) Rules, 2011
The release says the equivalent-weight declaration will follow the Legal Metrology (Packaged Commodities) Rules, 2011.
Consider the following statements about the standard pack sizes for edible oils announced on 6 June 2026: 1. The provisions apply only to domestically manufactured edible oils. 2. Packages below 200 ml or 200 g remain outside standardisation. 3. A three-month transition period has been provided. Which of the statements given above are correct?
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Correct answer: D — 2 and 3 only
Statements 2 and 3 are correct. The provisions apply to both domestic and imported edible oils.
India's UPI has been directly linked with which Nepali payment system for cross-border remittances (June 2026)?
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Correct answer: D — National Payments Interface (NPI)
The new mechanism directly links India's UPI with Nepal's National Payments Interface (NPI).
Which two entities executed the technical integration of the UPI–NPI remittance linkage between India and Nepal?
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Correct answer: B — NPCI International Payments Limited and Nepal Clearing House Limited
The integration was executed by NPCI International Payments Limited (NIPL) and Nepal Clearing House Limited (NCHL).
As per the Finance Ministry (June 2026), UPI is accepted in how many countries?
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Correct answer: C — Nine
The ministry listed nine countries: Singapore, UAE, France, Mauritius, Nepal, Bhutan, Qatar, Sri Lanka and Cambodia.
According to MoSPI's Provisional Estimates released on 5 June 2026, India's real GDP growth for 2025-26 was:
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Correct answer: C — 7.7%
Real GDP growth in 2025-26 is estimated at 7.7%, against 7.1% in 2024-25.
What was the real GDP growth rate in Q4 (January–March) of 2025-26, as per MoSPI?
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Correct answer: A — 7.8%
MoSPI estimated real GDP growth of 7.8% in Q4 of 2025-26.
The GDP estimates released by MoSPI on 5 June 2026 are based on the new series with which base year?
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Correct answer: D — 2022-23
MoSPI released the new series of GDP estimates with base year 2022-23 on 27 February 2026.
Consider the following statements about MoSPI's Provisional Estimates for 2025-26: 1. Nominal GDP is estimated at ₹346.36 lakh crore. 2. Nominal GDP growth is estimated at 8.9%. Which of the statements given above is/are correct?
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Correct answer: B — Both 1 and 2
Both figures are in the MoSPI press note.
The first commercial consignment of fresh mangoes from Jharkhand, flagged off on 4 June 2026, was exported to:
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Correct answer: A — United Kingdom
APEDA flagged off the first consignment of fresh mangoes from Jharkhand to London, United Kingdom.
Which mango variety was exported in the first consignment from Jharkhand to the UK in June 2026?
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Correct answer: C — Amrapali
The consignment comprised 1.5 metric tonnes of fresh Amrapali mangoes.
Consider the following statements about the Jharkhand mango export of June 2026: 1. The mangoes were sourced from an all-women Farmer Producer Company in Simdega district. 2. The consignment was flagged off in Ranchi. Which of the statements given above is/are correct?
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Correct answer: B — 1 only
Statement 1 is correct (Beura FPC, Bano block, Simdega). The flag-off ceremony was held in Kolkata, not Ranchi.
The India–UK Critical Minerals Global Supply Chain Observatory was launched on 4 June 2026 by G. Kishan Reddy and:
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Correct answer: D — Yvette Cooper
It was launched by Mines Minister G. Kishan Reddy and UK Foreign Secretary Yvette Cooper.
Which Indian institute is a partner, along with TEXMiN and the University of Cambridge, in the India–UK Critical Minerals Global Supply Chain Observatory?
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Correct answer: C — IIT (ISM) Dhanbad
The Observatory is a joint initiative of TEXMiN, IIT (ISM) Dhanbad and the University of Cambridge.
The Mines Minister said the India–UK Critical Minerals Global Supply Chain Observatory would advance the objectives of which Indian mission?
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Correct answer: B — National Critical Mineral Mission
Reddy said the Observatory would support evidence-based policymaking and advance the objectives of the National Critical Mineral Mission (NCMM).
In June 2026, the Union Cabinet approved one-time budgetary support of up to how much for ATF price stabilisation for Scheduled Indian Airlines?
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Correct answer: B — ₹10,000 crore
The Cabinet approved one-time budgetary support not exceeding ₹10,000 crore for OMCs.
Under the ATF Price Stabilisation Fund approved on 3 June 2026, the budgetary support will reach Oil Marketing Companies in which form?
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Correct answer: D — Interest-free advances
The support is given as interest-free advances to OMCs through the Demands for Grants of the Ministry of Petroleum and Natural Gas.
Consider the following statements about the ATF Price Stabilisation Fund approved in June 2026: 1. It covers both domestic and international operations of Scheduled Indian Airlines. 2. It will be implemented through an MoU between participating airlines and OMCs, with the Ministries of Civil Aviation and Petroleum and Natural Gas as signatories. Which of the statements given above is/are correct?
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Correct answer: A — Both 1 and 2
Both statements are in the Cabinet release: coverage is domestic and international, and implementation is through an airline–OMC MoU with MoCA and MoPNG as signatories.
Under the ATF price stabilisation mechanism of June 2026, amounts recovered from OMCs when ATF prices moderate go back to the Consolidated Fund of India. Which Article of the Constitution creates the Consolidated Fund of India?
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Correct answer: C — Article 266
Article 266(1) provides that all revenues, loans raised and loan repayments received by the Government of India form the Consolidated Fund of India. Article 267 deals with the Contingency Fund.
Mission 'Senehjori', launched by the Ministry of DoNER on 2 June 2026, aims to develop which product into a global luxury brand?
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Correct answer: B — Assam's Muga silk
Mission Senehjori – Assam Muga Silk USP aims to turn Assam's Muga silk into a globally competitive luxury textile ecosystem.
According to the DoNER Ministry (June 2026), Assam accounts for about what share of the world's Muga silk production?
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Correct answer: D — 90%
Scindia said Assam accounts for 90 per cent of the world's Muga silk production.
Consider the following statements about Mission Senehjori and Muga silk: 1. Muga is described as India's first GI-tagged silk. 2. The Mission has an estimated investment of ₹396–411 crore over three years. Which of the statements given above is/are correct?
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Correct answer: A — Both 1 and 2
Both are in the MDoNER release: Muga is India's first GI-tagged silk, and the Mission's estimated investment is ₹396–411 crore over three years, including ₹136–151 crore from MDoNER.
The India–Oman CEPA, which entered into force on 1 June 2026, was signed on 18 December 2025 in:
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Correct answer: A — Muscat
The CEPA was signed in Muscat on 18 December 2025 in the presence of PM Modi and Sultan Haitham bin Tarik.
Under the India–Oman CEPA, what share of India's exports to Oman gets zero-duty access?
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Correct answer: C — 99.38%
The Commerce Ministry release says the CEPA offers zero-duty access for 99.38% of India's exports to Oman.
Consider the following statements about the India–Oman CEPA: 1. India is the first country to secure a comprehensive bilateral trade pact with Oman. 2. India has excluded dairy and edible oils from market access under the Agreement. Which of the statements given above is/are correct?
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Correct answer: D — 2 only
Statement 1 is wrong: India is the second nation after the United States. Statement 2 is correct: dairy and edible oils are among the sensitive sectors excluded.
Under the India–Oman CEPA, Oman raised the ceiling for intra-corporate transferees (ICT) from 20% to:
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Correct answer: B — 50%
The release says the ICT ceiling was raised from 20% to 50%.
As per the first release of the new IIP series on 1 June 2026, industrial growth in April 2026 was:
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Correct answer: D — 4.9%
MoSPI's quick estimate puts IIP growth for April 2026 at 4.9%.
The new series of the Index of Industrial Production released on 1 June 2026 uses which base year?
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Correct answer: B — 2022-23
MoSPI revised the IIP base year from 2011-12 to 2022-23.
Consider the following statements about IIP for April 2026 (new series): 1. Mining and Quarrying contracted by 5.1%. 2. Manufacturing grew by 4.9%. 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: manufacturing grew 6.2%; 4.9% was the headline IIP growth and the growth of electricity and gas supply.
The SIRI Mathrushree Industrial Park inaugurated by the Vice-President on 31 May 2026 is located at Belthangady in which district of Karnataka?
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Correct answer: A — Dakshina Kannada
The park is at Belthangady in Dakshina Kannada district of Karnataka.
The export levies on petrol, diesel and ATF introduced in March 2026 are levied in the form of which duties?
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Correct answer: D — Special Additional Excise Duty and Road and Infrastructure Cess
The export levies are Special Additional Excise Duty (SAED) and Road and Infrastructure Cess (RIC), introduced from 27 March 2026.
For the fortnight beginning 1 June 2026, what export levy was notified on diesel?
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Correct answer: C — ₹13.5 per litre
The rate on diesel exports is ₹13.5 per litre (SAED); petrol ₹1.5 and ATF ₹9.5 per litre.
In May 2026, the Centre temporarily exempted all customs duties on imports of which commodity from 1 June to 31 October 2026?
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Correct answer: A — Cotton
All customs duties on import of cotton were exempted from 1 June 2026 till 31 October 2026.
Till what date does the temporary customs duty exemption on cotton imports, notified on 30 May 2026, remain in force?
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Correct answer: C — 31 October 2026
The exemption applies from 1 June 2026 till 31 October 2026.
In May 2026, subscription to zero coupon zero principal instruments on the Social Stock Exchange was added as a CSR activity in which part of the Companies Act, 2013?
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Correct answer: D — Schedule VII
MCA added new item (xiii) to Schedule VII of the Companies Act, 2013, which lists CSR activities.
Under the May 2026 CSR amendment on Zero Coupon Zero Principal (ZCZP) instruments, who is responsible for project execution and evaluation?
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Correct answer: B — The Not for Profit Organization raising funds through ZCZP
MCA said responsibility for project execution and evaluation will be on the Not for Profit Organization raising funds through ZCZP instruments.
The Common Landing Portal for Unclaimed Financial Assets launched in May 2026 advances which campaign?
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Correct answer: A — Aapki Poonji, Aapka Adhikar
The portal advances the 'Aapki Poonji, Aapka Adhikar' (Your Money, Your Right) campaign.
The Common Landing Portal for Unclaimed Financial Assets (May 2026) was developed by the Department of Financial Services in collaboration with:
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Correct answer: C — PSB Alliance
DFS developed the portal in collaboration with PSB Alliance.
In May 2026, the Government of Odisha signed an MoU with Intel and 3DGS Inc. to set up what kind of facility in the Bhubaneswar–Khurda region?
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Correct answer: B — Advanced Packaging Glass Core Substrate Manufacturing Facility
The MoU provides a framework for an Advanced Packaging Glass Core Substrate Manufacturing Facility in the Bhubaneswar–Khurda region.
Which State signed the May 2026 MoU with Intel Corporation and 3DGS Inc. for a glass core substrate facility?
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Correct answer: A — Odisha
The MoU was signed between the Government of Odisha, Intel Corporation and 3DGS Inc., USA.
Which body will develop India's first Special Economic Zone to be developed by an urban local body, notified in Puducherry in May 2026?
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Correct answer: B — Oulgaret Municipality
The IT/ITES SEZ at Thattanchavady will be developed by Oulgaret Municipality, the first SEZ in India by an urban local body; PIPDIC will develop the multi-sector SEZ.
Consider the following statements about the two SEZs notified in Puducherry (May 2026): 1. They were approved by the Board of Approval for SEZs at its 137th meeting. 2. Both are IT/ITES SEZs. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Both were approved at the 137th BoA meeting; one is an IT/ITES SEZ and the other a multi-sector SEZ.