Economy Current Affairs Quiz — Last 12 months
Daily news by your exam, state and topic — each with a short summary, key facts and MCQs.
To what level did India and Norway elevate their relations on 18 May 2026?
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Correct answer: C — Green Strategic Partnership
PM Modi and PM Støre agreed in Oslo to elevate ties to a Green Strategic Partnership.
By which year did India and Norway aim to double the value of their current bilateral trade, as agreed in May 2026?
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Correct answer: A — 2030
The leaders underlined the aim of doubling the value of current trade between India and Norway by 2030.
Consider the following statements about the India–Norway talks of 18 May 2026: 1. The investment commitment under the India–EFTA TEPA cited by the leaders is USD 50 billion. 2. The leaders welcomed Norway joining the Indo-Pacific Oceans Initiative. Which of the statements given above is/are correct?
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Correct answer: B — 2 only
Statement 1 is wrong: the TEPA investment commitment cited is USD 100 billion, with one million jobs in India. Statement 2 is correct.
What export target for this year did Commerce Minister Piyush Goyal announce on 18 May 2026?
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Correct answer: D — $1 trillion
Goyal said India has set a target of $1 trillion in exports this year and $2 trillion over five years. $863 billion is the export level already reached.
According to Piyush Goyal (May 2026), with which country's FTA may come into force from 1 June?
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Correct answer: A — Oman
Goyal said the Oman FTA may come into force from 1 June, with other finalised FTAs to follow.
As stated by Piyush Goyal on 18 May 2026, India's exports this year reached about how much?
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Correct answer: C — $863 billion
Goyal said exports this year reached $863 billion, nearly 5% higher than the previous year.
To what level did India and Sweden elevate their relationship during PM Modi's visit to Sweden in May 2026?
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Correct answer: A — Strategic Partnership
PM Modi and PM Ulf Kristersson agreed in Gothenburg to elevate India–Sweden ties to the level of Strategic Partnership.
Which document did India and Sweden adopt in May 2026 to operationalise their new partnership?
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Correct answer: C — India-Sweden Joint Action Plan 2026-2030
The two leaders adopted the India-Sweden Joint Action Plan 2026-2030 as the roadmap for the Strategic Partnership.
Consider the following statements about the India–Sweden talks of May 2026: 1. The relationship was elevated to a Comprehensive Strategic Partnership. 2. The partnership will be guided by three pillars. Which of the statements given above is/are correct?
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Correct answer: D — Neither 1 nor 2
Both are wrong: the ties were elevated to a Strategic Partnership (not Comprehensive), and it rests on four pillars.
Where did the Ministry of DoNER team visit on 17 May 2026 to explore blending Eri silk with Kota Doria?
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Correct answer: B — Kaithoon Common Facility Centre, Kota
The team visited the Kaithoon Common Facility Centre in Kota, where Kota Doria is traditionally woven.
The planned MoU for the Eri silk–Kota Doria fusion (May 2026) is expected between NEHHDC and which body?
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Correct answer: D — District Industries Centre, Government of Rajasthan
PIB says the initiative is expected to be formalised through an MoU between NEHHDC and the District Industries Centre (DIC), Government of Rajasthan.
Where has the National Test House set up a state-of-the-art Shoe Testing Laboratory (announced May 2026)?
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Correct answer: A — Ghaziabad
The lab has been set up at the National Test House, Northern Region, Ghaziabad.
The National Test House (NTH) functions under which department of the Government of India?
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Correct answer: C — Department of Consumer Affairs
PIB states that NTH, Northern Region, Ghaziabad is under the Department of Consumer Affairs.
Where is the Madhur Dairy plant inaugurated by Amit Shah on 17 May 2026 located?
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Correct answer: D — Dashela, Gandhinagar
The new Madhur Dairy plant is at Dashela in Gandhinagar district, Gujarat.
What is the present milk-processing capacity of Madhur Dairy's new Dashela plant (May 2026)?
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Correct answer: A — 2.5 lakh litres per day
The plant can process 2.5 lakh litres of milk per day now, to be expanded to 5 lakh litres per day in future.
In which year did Madhur Dairy begin its journey, as stated by Amit Shah in May 2026?
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Correct answer: C — 1971
Madhur Dairy began in 1971 with milk collection of 6,000 litres and a turnover of ₹7,000.
To what level did India and the Netherlands elevate their relations on 16 May 2026?
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Correct answer: C — Strategic Partnership
PM Modi and PM Rob Jetten decided in The Hague to elevate India–Netherlands relations to a Strategic Partnership.
At which royal palace did King Willem-Alexander and Queen Máxima host PM Modi on 16 May 2026?
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Correct answer: A — Huis ten Bosch, The Hague
The Joint Statement says the King and Queen hosted PM Modi at the Royal Palace Huis ten Bosch in The Hague.
Consider the following statements about PM Modi's visit to the Netherlands in May 2026: 1. It was PM Modi's first visit to the Netherlands. 2. Under the Strategic Partnership Roadmap, a Foreign Minister-level mechanism will hold annual meetings to review progress. Which of the statements given above is/are correct?
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Correct answer: B — 2 only
Statement 1 is wrong: it was PM Modi's second visit to the Netherlands. Statement 2 is correct as per the Roadmap.
Which statement correctly describes India's BRICS Chairship as stated in May 2026?
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Correct answer: A — Fourth time; earlier in 2012, 2016 and 2021
India has assumed the BRICS Chairship for the fourth time, after 2012, 2016 and 2021.
According to the Commerce Secretary (May 2026), intra-BRICS merchandise trade reached what value in 2024?
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Correct answer: C — US$1.17 trillion
Intra-BRICS merchandise trade rose thirteen-fold from US$84 billion in 2003 to US$1.17 trillion in 2024.
The 2nd meeting of the BRICS Contact Group on Trade and Economic Issues (CGETI) in May 2026 was held in which city?
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Correct answer: B — Gandhinagar
The 2nd CGETI meeting was held in Gandhinagar, Gujarat; the first was held virtually in March 2026.
ASML, which signed an agreement with Tata Electronics in May 2026, is a leading supplier of which equipment for chip-making?
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Correct answer: C — High-precision lithography equipment
PIB describes ASML as a Dutch multinational and one of the leading suppliers of high-precision lithography equipment.
The Tata Electronics–ASML agreement of May 2026 supports India's first front-end semiconductor fab at:
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Correct answer: D — Dholera, Gujarat
The agreement supports the semiconductor fab at Dholera, Gujarat – India's first front-end fab.
According to a PIB backgrounder of May 2026, what share of global jaggery production does India account for?
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Correct answer: A — Over 70%
India accounts for over 70% of global jaggery production, making it the world's largest producer.
By how much did the value of India's jaggery exports increase between 2015-16 and 2024-25, as per PIB (May 2026)?
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Correct answer: D — 106.5%
Jaggery exports increased by 106.5% in value between 2015-16 and 2024-25.
On which date was the Government e Marketplace Special Purpose Vehicle (GeM SPV) incorporated?
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Correct answer: D — 17 May 2017
The GeM SPV was incorporated on 17 May 2017 under the Companies Act, 2013.
What is the legal form of the GeM SPV, according to the Ministry of Commerce (May 2026)?
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Correct answer: A — A Section 8 non-profit company under the Ministry of Commerce
GeM SPV is a Section 8 non-profit company under the Ministry of Commerce, incorporated under the Companies Act, 2013.
Under the ISPRL–ADNOC MoU signed during PM Modi's UAE visit in May 2026, ADNOC may store up to how much crude oil in India's Strategic Petroleum Reserves?
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Correct answer: C — 30 million barrels
The MoU covers potential ADNOC crude storage in India's SPR of up to 30 million barrels.
During PM Modi's UAE visit in May 2026, Emirates NBD announced a US$3 billion investment in which Indian entity?
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Correct answer: B — RBL Bank
Emirates NBD is to invest US$3 billion in RBL Bank; IHC is to invest US$1 billion in Sammaan Capital and ADIA up to US$1 billion with NIIF.
Consider the following statements about India–UAE relations, as per PIB (May 2026): 1. PM Modi's visit to the UAE in 2015 was the first by an Indian Prime Minister in 34 years. 2. India–UAE bilateral merchandise trade crossed US$100 billion for the first time in FY 2025-26. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Both are correct: the 2015 visit was the first by an Indian PM in 34 years, and trade reached US$101.25 billion in FY 2025-26.
Which Indian organisation signed a term sheet with UAE's G-42 in May 2026 to set up an 8-exaflop supercomputing cluster?
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Correct answer: D — CDAC
The term sheet for an 8-exaflop super computing cluster is between CDAC, India and G-42, UAE, as part of AI Mission India.
India's total exports (merchandise and services) in April 2026 were estimated at:
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Correct answer: C — US$80.80 billion
Total exports in April 2026 were estimated at US$80.80 billion, up 13.59% from US$71.13 billion in April 2025.
What were India's merchandise exports in April 2026?
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Correct answer: B — US$43.56 billion
Merchandise exports in April 2026 were US$43.56 billion, up 13.78% from US$38.28 billion in April 2025.
According to the PLFS monthly bulletin for April 2026, what was the urban unemployment rate for persons aged 15 years and above?
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Correct answer: A — 6.6%
The urban unemployment rate (15+) eased to 6.6% in April 2026 from 6.8% in March 2026.
Which body conducts the Periodic Labour Force Survey (PLFS)?
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Correct answer: A — National Statistics Office (NSO), MoSPI
The PLFS is conducted by the National Statistics Office (NSO) under the Ministry of Statistics and Programme Implementation.
Where is Rajasthan's first semiconductor plant, inaugurated in May 2026, located?
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Correct answer: D — Bhiwadi
Sahasra Semiconductors' ATMP/OSAT facility, Rajasthan's first semiconductor plant, is at Bhiwadi.
Which company's facility at Bhiwadi was described by MeitY in May 2026 as India's first SME-led semiconductor facility?
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Correct answer: A — Sahasra Semiconductors
MeitY described the ATMP/OSAT facility of Sahasra Semiconductors at Bhiwadi as India's first SME-led semiconductor facility.
In which city did the Kimberley Process Intersessional Meeting 2026 conclude under India's Chairship?
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Correct answer: D — Mumbai
The KP Intersessional 2026 concluded in Mumbai; the KP Plenary is to be held in New Delhi later in 2026.
What do the '3Cs' in the theme of India's Kimberley Process Chairship (2026) stand for?
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Correct answer: A — Credibility, Compliance and Consumer Confidence
India's KP Chairship theme is the 3Cs – Credibility, Compliance and Consumer Confidence.
Consider the following statements about the Kimberley Process: 1. The Kimberley Process Certification Scheme was established under UN General Assembly Resolution 55/56 of 2000 to prevent conflict diamonds from entering legitimate trade. 2. The KP Chair for 2026 is Suchindra Misra of India. 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 KPCS was established under UNGA Resolution 55/56 of 2000, and Suchindra Misra is KP Chair 2026.
Hindustan Copper Limited, which reported a record profit in FY 2025-26, is which category of CPSE under the Ministry of Mines?
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Correct answer: B — Miniratna
PIB describes Hindustan Copper Limited as a Miniratna CPSE under the Ministry of Mines.
What was India's annual WPI inflation rate (provisional) for April 2026?
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Correct answer: D — 8.30%
WPI inflation was 8.30% in April 2026; 3.88% was March, 9.17% primary articles and 24.71% fuel and power.
Which major group of the WPI recorded the highest annual inflation in April 2026?
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Correct answer: A — Fuel & Power
Fuel & Power inflation was 24.71%, against 9.17% for primary articles, 4.62% for manufactured products and 2.31% for the food index.
Consider the following statements about the Wholesale Price Index (WPI) in India: 1. The current WPI series has 2011-12 as its base year. 2. DPIIT releases the WPI on the 14th of every month with a time lag of two weeks of the reference month. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Both are correct, as stated in DPIIT's April 2026 WPI release (base year 2011-12; release on the 14th, or the next working day, with a two-week lag).
According to the Commerce Ministry (May 2026), India–Africa bilateral trade in 2025-26 stood at about:
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Correct answer: A — US$93.69 billion
Bilateral trade reached US$93.69 billion in 2025-26 (exports US$45.42 bn, imports US$48.27 bn); US$3.4 trillion is the value of AfCFTA.
Consider the following statements about India–Africa trade, as stated at the IAFS-IV business curtain raiser (May 2026): 1. In 2025-26, India's imports from Africa were higher than its exports to Africa. 2. India and Africa share the ambition of tripling bilateral trade by 2030. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Only 1 is correct: imports were US$48.27 bn against exports of US$45.42 bn. The stated ambition is doubling, not tripling, trade by 2030.
As per the Commerce Ministry, what was the European Union's rank among markets for Indian seafood exports in 2025-26?
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Correct answer: B — Third
The EU emerged as the third-largest market, with 18.94% of total export value (US$1.593 billion).
Consider the following statements about India's seafood exports to the EU (May 2026): 1. India had been omitted from the EU's Implementing Regulation (EU) 2024/2598 on third countries allowed to export from September 2026. 2. EU Delegated Regulation (EU) 2023/905 concerns the use of antimicrobials in animals whose products are exported to the EU. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Both are correct. India's omission was in Regulation (EU) 2024/2598, and Regulation (EU) 2023/905 requires exported animals and products to be free of antimicrobials used for growth promotion or reserved for humans.
For kharif marketing season 2026-27, which crop got the highest absolute increase in MSP over the previous year?
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Correct answer: C — Sunflower seed
Sunflower seed got the highest increase (₹622 per quintal), followed by cotton (₹557), nigerseed (₹515) and sesamum (₹500).
Under the kharif MSP 2026-27, the expected margin over cost of production is highest for which crop?
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Correct answer: D — Moong
Moong has the highest expected margin (61%), followed by bajra (56%), maize (56%) and tur/arhar (54%).
Consider the following statements about Minimum Support Prices (MSP): 1. Fixing MSP at least at 1.5 times the all-India weighted average cost of production was announced in the Union Budget 2014-15. 2. The MSP of paddy (common) for marketing season 2026-27 is ₹2,441 per quintal. Which of the statements given above is/are correct?
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Correct answer: B — 2 only
Only 2 is correct. The 1.5-times-cost principle was announced in the Union Budget 2018-19, as the Cabinet release states.
According to Commerce Minister Piyush Goyal (May 2026), India achieved record exports of about how much?
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Correct answer: C — US$863 billion
Goyal said India achieved record exports of US$863 billion and set an aspirational target of US$1 trillion for the current year.
As stated by Piyush Goyal in May 2026, over the last three and a half years India has covered how many developed economies through how many FTAs?
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Correct answer: D — 38 economies through 9 FTAs
India has covered 38 developed and prosperous economies through nine FTAs, four already operational and five expected within 12 months.
Which country's Foreign Minister, Francisco Pérez Mackenna, visited India in May 2026 for talks on an early conclusion of a CEPA?
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Correct answer: D — Chile
Francisco Pérez Mackenna is the Minister of Foreign Affairs of Chile; the talks focused on the India–Chile CEPA.
What was the aggregate net profit of public sector banks in FY 2025-26, as announced in May 2026?
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Correct answer: A — ₹1.98 lakh crore
Aggregate net profit rose 11.1% to a record ₹1.98 lakh crore; ₹3.21 lakh crore was the operating profit and ₹86,971 crore the recoveries.
Consider the following statements about public sector banks as of 31 March 2026: 1. Their gross NPA ratio was 1.93% and net NPA ratio 0.39%. 2. Their aggregate CRAR of 16.6% was above the regulatory requirement of 11.5%. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Both are correct, as per the Finance Ministry's FY 2025-26 PSB performance release.
FY 2025-26 marked which consecutive year of aggregate profitability for public sector banks?
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Correct answer: D — Fourth
The record ₹1.98 lakh crore profit marked the fourth consecutive year of aggregate profitability for PSBs.
What was India's CPI-based retail inflation (base 2024=100) for April 2026?
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Correct answer: C — 3.48%
Retail inflation was 3.48% (provisional) in April 2026; 3.40% was March, 4.20% food inflation and 3.16% urban inflation.
Consider the following statements about the CPI release for April 2026: 1. Food inflation (CFPI) was lower than headline CPI inflation. 2. Prices for the CPI are collected by the NSO from 1,407 urban markets and 1,465 villages. Which of the statements given above is/are correct?
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Correct answer: B — 2 only
Only 2 is correct. Food inflation (4.20%) was higher than headline CPI inflation (3.48%).
What is the size of the Bharat Maritime Insurance Pool launched by the Department of Financial Services in May 2026?
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Correct answer: B — US$1.5 billion
BMIP is a US$1.5 billion pool with a sovereign guarantee of US$1.4 billion (₹12,980 crore).
Which entity is the pool administrator of the Bharat Maritime Insurance Pool?
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Correct answer: D — GIC Re
GIC Re is the pool administrator; policies are issued by domestic member insurers such as New India Assurance.
How many limestone blocks were put up for auction in the second tranche launched in Jammu & Kashmir in May 2026?
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Correct answer: D — 12
A total of 12 limestone blocks across Anantnag, Rajouri and Poonch districts were put up under Tranche II.
The limestone blocks in J&K's second auction tranche (May 2026) are spread across which districts?
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Correct answer: A — Anantnag, Rajouri and Poonch
The 12 blocks are in Anantnag, Rajouri and Poonch districts.
Consider the following statements about the J&K limestone block auction (Tranche II, May 2026): 1. The auction is conducted under the Mineral (Auction) Rules, 2015. 2. All the blocks are at the G1 (detailed exploration) stage of the UNFC. Which of the statements given above is/are correct?
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Correct answer: A — 1 only
Only 1 is correct. The blocks are categorised under the G3 and G4 stages of the UNFC, not G1.
In the May 2026 MoU with I4C on mule accounts, 'RBIH' stands for:
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Correct answer: C — Reserve Bank Innovation Hub
RBIH is the Reserve Bank Innovation Hub, which signed the MoU with the Indian Cyber Crime Coordination Centre.
The Indian Cyber Crime Coordination Centre (I4C) functions under which ministry?
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Correct answer: B — Ministry of Home Affairs
I4C is part of the Ministry of Home Affairs, and its Suspect Registry data will feed RBIH's AI fraud detection.
At the 5th IGoM on West Asia on 11 May 2026, India's LPG rolling stock was reported to be enough for how many days?
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Correct answer: C — 45 days
India had 45 days of LPG rolling stock; crude oil and natural gas were 60 days each.
Consider the following statements about the 5th IGoM on West Asia (11 May 2026): 1. The meeting was chaired by the Minister of Petroleum and Natural Gas. 2. The fertiliser stock of 199.65 LMT covered more than half of the assessed Kharif 2026 requirement of 390.54 LMT. Which of the statements given above is/are correct?
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Correct answer: B — 2 only
Only 2 is correct. The IGoM was chaired by Raksha Mantri Rajnath Singh; Petroleum Minister Hardeep Singh Puri attended as a member.
As per the PLFS Quarterly Bulletin for January–March 2026, what was the overall LFPR for persons aged 15 years and above (CWS)?
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Correct answer: D — 55.5%
Overall LFPR was 55.5%; 55.8% was the previous quarter, 52.8% the WPR and 58.2% the rural LFPR.
Consider the following statements about the PLFS Quarterly Bulletin for January–March 2026: 1. The share of rural workers engaged in agriculture rose compared with the previous quarter. 2. On average, 57.4 crore persons aged 15 years and above were employed during the quarter. Which of the statements given above is/are correct?
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Correct answer: B — 2 only
Only 2 is correct. The rural share of workers in agriculture fell to 55.8% from 58.5% in October–December 2025.