Economy Current Affairs Quiz — Last 12 months
Daily news by your exam, state and topic — each with a short summary, key facts and MCQs.
What was India's Labour Force Participation Rate (15 years and above) in October–December 2025, as per the PLFS quarterly bulletin released on 10 February 2026?
Show answer
Correct answer: C — 55.8%
Overall LFPR rose to 55.8% from 55.1% in July–September 2025.
Female LFPR (15 years and above) in October–December 2025 rose to:
Show answer
Correct answer: B — 34.9%
Female LFPR rose to 34.9% from 33.7%, driven by rural female LFPR rising to 39.4%.
Consider the following about the PLFS quarterly bulletin for October–December 2025: 1. The urban unemployment rate for persons aged 15 and above fell to 6.7%. 2. It is the first quarterly bulletin to give estimates for rural areas. Which of the above is/are correct?
Show answer
Correct answer: A — 1 only
Only 1 is correct. Urban unemployment fell to 6.7% from 6.9%. The April–June 2025 bulletin was the first with rural and urban estimates; October–December 2025 is the third.
In which city was BIOFACH 2026, where India was 'Country of the Year', inaugurated on 10 February 2026?
Show answer
Correct answer: B — Nuremberg
BIOFACH 2026, the world's leading organic trade fair, opened in Nuremberg, Germany.
Which body organised India's participation at BIOFACH 2026, and which regulation did the Commerce Secretary highlight there?
Show answer
Correct answer: D — APEDA; National Programme for Organic Production
APEDA organised India's participation; the Commerce Secretary highlighted amendments to the National Programme for Organic Production (NPOP).
With which stock exchange did the Department of Posts sign an MoU on 10 February 2026 to distribute mutual funds through post offices?
Show answer
Correct answer: C — National Stock Exchange (NSE)
The Department of Posts signed the MoU with the National Stock Exchange of India to use its mutual fund platform.
How much investment did companies commit under the MoUs signed for PLI 1.2 (specialty steel) on 9 February 2026?
Show answer
Correct answer: D — ₹11,887 crore
The 55 companies committed ₹11,887 crore for 85 projects.
What specialty steel capacity is expected from the PLI 1.2 projects by FY 2031?
Show answer
Correct answer: C — 8.7 million tonnes
The PLI 1.2 projects are expected to add 8.7 million tonnes of specialty steel capacity by FY 2031.
Consider the following about the PLI Scheme for Specialty Steel: 1. The scheme was first launched in July 2021. 2. The MoUs signed on 9 February 2026 under PLI 1.2 were with 85 companies. Which of the above is/are correct?
Show answer
Correct answer: A — 1 only
Only 1 is correct. The scheme began in July 2021. The 9 February 2026 MoUs covered 85 projects of 55 companies, not 85 companies.
What was the gross NPA ratio of scheduled commercial banks for domestic operations at the end of September 2025, as stated on 9 February 2026?
Show answer
Correct answer: C — 2.15%
The SCB gross NPA ratio was a historic low of 2.15%; PSBs were at 2.50%, private banks 1.73% and foreign banks 0.80%.
In which year did the RBI initiate the Asset Quality Review that the Finance Ministry credited for the fall in gross NPAs?
Show answer
Correct answer: C — 2015
The RBI began the Asset Quality Review in 2015, followed by the government's 4R strategy.
For how much did NHAI accept Raajmarg Infra Investment Trust's offer for five National Highway assets, as announced on 9 February 2026?
Show answer
Correct answer: D — ₹9,500 crore
NHAI accepted RIIT's offer of ₹9,500 crore for five sections spanning over 260 km.
Which of the following highway sections is NOT among the five assets won by Raajmarg Infra Investment Trust in February 2026?
Show answer
Correct answer: A — Lucknow–Kanpur
The five assets are Gorhar–Barwa Adda (Jharkhand), Chilakaluripet–Vijayawada (Andhra Pradesh), Chennai Bypass and Chennai–Tada (Tamil Nadu) and Neelmangla–Tumkur (Karnataka).
Under the India–US framework for an Interim Trade Agreement announced on 7 February 2026, what reciprocal tariff will the US apply on originating goods of India?
Show answer
Correct answer: B — 18%
The US will apply a reciprocal tariff rate of 18% on originating goods of India.
How much in US goods does India intend to purchase over the next five years under the India–US framework of February 2026?
Show answer
Correct answer: D — USD 500 billion
India intends to purchase USD 500 billion of US energy products, aircraft and parts, precious metals, technology products and coking coal over the next five years.
The broader India–US Bilateral Trade Agreement (BTA) negotiations, reaffirmed by the February 2026 framework, were launched on:
Show answer
Correct answer: A — 13 February 2025
The BTA negotiations were launched by President Trump and PM Modi on 13 February 2025.
Consider the following about the India–US framework for an Interim Trade Agreement (February 2026): 1. India will eliminate or reduce tariffs on all US industrial goods. 2. Once the Interim Agreement is concluded, the US will remove the reciprocal tariff on goods such as generic pharmaceuticals, gems and diamonds, and aircraft parts. Which of the above is/are correct?
Show answer
Correct answer: C — Both 1 and 2
Both are correct as per the joint statement.
Consider the following about the India–US joint statement of February 2026: 1. India will receive a preferential tariff-rate quota for automotive parts. 2. India agreed to eliminate all tariffs on US dairy products. Which of the above is/are correct?
Show answer
Correct answer: A — 1 only
Only 1 is correct. The farm products listed for tariff cuts include DDGs, red sorghum, tree nuts, fruit, soybean oil, wine and spirits; dairy is not among them.
Until which date could stakeholders send feedback on the draft Income-tax Rules, 2026 released on 7 February 2026?
Show answer
Correct answer: B — 22 February 2026
The draft rules and forms were kept in the public domain for 15 days, up to 22 February 2026.
How many rules does the draft Income-tax Rules, 2026 contain, compared with 511 in the Income-tax Rules, 1962?
Show answer
Correct answer: C — 333
The draft has 333 rules and 190 forms, against 511 rules and 399 forms in the 1962 Rules.
Consider the following about the Income-tax Act, 2025 and its draft rules: 1. The Act comes into force on 1 April 2026. 2. The draft rules reduce the number of forms from 399 to 190. Which of the above is/are correct?
Show answer
Correct answer: C — Both 1 and 2
Both are correct. The Act, which received assent in August 2025, comes into force on 1 April 2026, and the draft rules cut forms from 399 to 190.
Advantage Vidarbha 2026 – Khasdar Audyogik Mahotsav, where a ₹10,080 crore solar and BESS plant MoU was signed on 7 February 2026, was held in:
Show answer
Correct answer: B — Nagpur
The event was held in Nagpur, and the plant will come up in Nagpur district.
The NSO's MCP server launched on 6 February 2026 is for which national portal for official statistics?
Show answer
Correct answer: D — eSankhyiki
The beta MCP server was launched for eSankhyiki, the national portal for official statistics.
How many data products did the beta version of NSO's MCP server include at launch on 6 February 2026?
Show answer
Correct answer: A — Seven
The beta covered seven data products: PLFS, CPI, ASI, IIP, NAS, WPI and Environmental Statistics.
The XV FC grants of over ₹1,133 crore announced on 6 February 2026 went to panchayats in which three states?
Show answer
Correct answer: D — Madhya Pradesh, Punjab and Telangana
The grants were released to Madhya Pradesh, Punjab and Telangana.
Consider the following about the Finance Commission under Article 280 of the Constitution: 1. It consists of a Chairman and four other members appointed by the President. 2. It recommends measures to augment a state's Consolidated Fund to supplement the resources of panchayats, based on the State Finance Commission's recommendations. Which of the above is/are correct?
Show answer
Correct answer: C — Both 1 and 2
Both are correct: Article 280(1) provides for a Chairman and four other members, and Article 280(3)(bb) covers measures to supplement panchayat resources.
What record monthly production of P&K fertilisers (DAP and NPKs) did India achieve in January 2026?
Show answer
Correct answer: C — 15.76 LMT
Domestic P&K production reached a record 15.76 lakh metric tonnes in January 2026.
The Black Swan Summit India addressed by President Murmu on 6 February 2026 was held in:
Show answer
Correct answer: A — Bhubaneswar
It was held in Bhubaneswar, organised by the Odisha government with the Global Finance and Technology Network.
Where were the Terms of Reference for the India–GCC Free Trade Agreement signed on 5 February 2026?
Show answer
Correct answer: B — Vanijya Bhawan, New Delhi
The ToR were signed at Vanijya Bhawan, New Delhi, in the presence of Commerce Minister Piyush Goyal.
According to the Commerce Ministry, the combined GDP of the GCC countries (about US$ 2.3 trillion) ranks where globally?
Show answer
Correct answer: C — 9th
The ministry said the GCC's US$ 2.3 trillion GDP at current prices ranks 9th globally.
What are the driver partners of the cooperative taxi service 'Bharat Taxi' called?
Show answer
Correct answer: D — Sarathis
Driver partners of Bharat Taxi are called 'Sarathis'; more than 1,200 attended the launch.
Consider the following about the launch of Bharat Taxi on 5 February 2026: 1. Sarathis will get free treatment up to ₹5 lakh. 2. MoUs were signed with nine institutions, including DMRC and SBI. Which of the above is/are correct?
Show answer
Correct answer: C — Both 1 and 2
Both are correct as per the Ministry of Cooperation release.
Under the revised startup recognition framework announced on 5 February 2026, what is the new turnover limit for a startup?
Show answer
Correct answer: D — ₹200 crore
The turnover limit for startup recognition was raised from ₹100 crore to ₹200 crore.
What age limit from incorporation applies to the new 'Deep Tech Startup' category?
Show answer
Correct answer: C — 20 years
For Deep Tech Startups the age limit was extended from 10 to 20 years, with a turnover limit of ₹300 crore.
Consider the following about the revised startup recognition framework (February 2026): 1. Multi-State Cooperative Societies registered under the Multi-State Cooperative Societies Act, 2002 are now eligible for startup recognition. 2. The turnover limit for a Deep Tech Startup is ₹200 crore, the same as for other startups. Which of the above is/are correct?
Show answer
Correct answer: A — 1 only
Only 1 is correct. Deep Tech Startups have a higher turnover limit of ₹300 crore; ₹200 crore applies to other startups.
What is the theme of PLASTINDIA 2026, which opened at Bharat Mandapam on 5 February 2026?
Show answer
Correct answer: A — Bharat Next
The 12th edition of the triennial exhibition is themed 'Bharat Next'.
Consider the following about the withdrawal of the wheat stock limit order on 5 February 2026: 1. The withdrawn order was dated 27 May 2025. 2. After withdrawal, wheat stockists no longer need to declare their stock on the food stock portal. Which of the above is/are correct?
Show answer
Correct answer: A — 1 only
Only 1 is correct. All wheat-stocking entities must still declare their stock every Friday on foodstock.dfpd.gov.in.
Which body has been designated as the India Centre for BRICS Industrial Competencies?
Show answer
Correct answer: A — National Productivity Council
The National Productivity Council (NPC) was designated as the India Centre for BRICS Industrial Competencies.
The BRICS Centre for Industrial Competencies was launched in partnership with which UN agency?
Show answer
Correct answer: B — UNIDO
The BCIC was launched in partnership with the United Nations Industrial Development Organization (UNIDO).
Consider the following about India joining the BRICS Centre for Industrial Competencies (February 2026): 1. India's participation was formalised through a Trust Fund Agreement between DPIIT and UNIDO. 2. The BCIC focuses on strengthening Industry 4.0 competencies of manufacturing companies and MSMEs. Which of the above is/are correct?
Show answer
Correct answer: C — Both 1 and 2
Both are correct as per the DPIIT release.
NMDC's first coal mine, inaugurated in January 2026, is Tokisud North in which state?
Show answer
Correct answer: B — Jharkhand
NMDC said its first coal mine, Tokisud North, is in Jharkhand.
The MoU signed on 3 February 2026 relates to the establishment of which entity?
Show answer
Correct answer: A — Bharat Container Shipping Line
The MoU was for establishing the Bharat Container Shipping Line (BCSL).
The BCSL MoU aligns with which scheme announced in the Union Budget 2026-27?
Show answer
Correct answer: B — Container Manufacturing Assistance Scheme
The Shipping Ministry said the MoU aligns with the Container Manufacturing Assistance Scheme (CMAS).
Consider the following about the MoUs signed on 3 February 2026: 1. The Container Corporation of India (CONCOR) is a signatory to the BCSL MoU. 2. The Outer Harbour project being financed is at Kandla (Deendayal Port). Which of the above is/are correct?
Show answer
Correct answer: A — 1 only
Only 1 is correct. The ₹15,000-crore Outer Harbour project is at V.O. Chidambaranar Port, Tuticorin.
AIM SUMVAAD, held on 3 February 2026, is the flagship annual conclave of which ecosystem?
Show answer
Correct answer: D — National incubation ecosystem
AIM SUMVAAD is the Atal Innovation Mission's flagship annual conclave for the national incubation ecosystem.
What were SAIL's record cumulative sales for April–January FY 2025-26, announced on 3 February 2026?
Show answer
Correct answer: B — 16.6 million tonnes
SAIL sold 16.6 MT in April–January FY26, up 16% from 14.3 MT a year earlier.
Under the Baggage Rules, 2026 notified on 2 February 2026, what is the general duty-free allowance for a resident passenger?
Show answer
Correct answer: C — ₹75,000
Residents, tourists of Indian origin and foreigners with a non-tourist visa get a ₹75,000 duty-free allowance.
What duty-free allowance do the Baggage Rules, 2026 give a tourist of foreign origin?
Show answer
Correct answer: D — ₹25,000
Tourists of foreign origin get ₹25,000; crew members get ₹2,500.
Under the weight-based jewellery allowance in the Baggage Rules, 2026, how much duty-free jewellery can an eligible female passenger bring?
Show answer
Correct answer: B — Up to 40 grams
Eligible female passengers may bring up to 40 g and others up to 20 g; the old value caps were removed.
Under the Baggage Rules, 2026, what is the transfer-of-residence cap for a person returning after more than two years abroad?
Show answer
Correct answer: C — ₹7.5 lakh
The caps are ₹1.5 lakh (up to 12 months), ₹3 lakh (1–2 years) and ₹7.5 lakh (above 2 years).
Consider the following about the Baggage Rules, 2026: 1. Duty-free import of one laptop by passengers above 18 years has been incorporated into the Rules. 2. Passengers arriving by land borders are entitled to the same ₹75,000 general allowance as air passengers. Which of the above is/are correct?
Show answer
Correct answer: A — 1 only
Only 1 is correct. Passengers arriving by land borders do not get any general duty-free allowance.
On 2 February 2026, President Trump announced that the US reciprocal tariff on Indian goods would be cut to 18% from what level?
Show answer
Correct answer: B — 25%
Trump said the reciprocal tariff would fall from 25% to 18%.
The separate additional 25% US tariff on Indian goods, which the White House said on 2 February 2026 would be dropped, had been imposed over what?
Show answer
Correct answer: D — India's purchases of Russian oil
The additional 25% tariff was imposed in August 2025 over India's purchases of Russian oil.
According to CNN, President Trump said on 2 February 2026 that India would replace its Russian crude imports with oil from which countries?
Show answer
Correct answer: B — The United States and Venezuela
CNN reported Trump said Modi agreed to replace Russian crude with oil from Venezuela and the United States.
Consider the following about the US tariff announcement of 2 February 2026: 1. With the additional 25% tariff also dropped, the combined US tariff on Indian goods falls from 50% to 18%. 2. PM Modi's post on X confirmed that India would stop buying Russian oil. Which of the above is/are correct?
Show answer
Correct answer: A — 1 only
Only 1 is correct. Modi's X post thanked Trump for the 18% tariff but did not mention Russian oil.
Miniratna Category-I status, granted to Yantra India Limited in February 2026, allows its board to approve capital expenditure up to what amount without government approval?
Show answer
Correct answer: D — ₹500 crore
Miniratna Category-I status empowers the board to incur capex up to ₹500 crore without government approval.
Yantra India Limited was formed when the Ordnance Factory Board was corporatised on 1 October 2021 into how many new DPSUs?
Show answer
Correct answer: B — Seven
The Ordnance Factory Board was corporatised into seven new DPSUs on 1 October 2021.
Consider the following about Yantra India Limited: 1. It is a Schedule 'A' DPSU under the Department of Defence Production. 2. It was the first of the DPSUs carved out of the Ordnance Factory Board to receive Miniratna Category-I status. Which of the above is/are correct?
Show answer
Correct answer: A — 1 only
Only 1 is correct. Munitions India, Armoured Vehicles Nigam and India Optel received Miniratna-I status earlier, in May 2025.
What is the sampling frame for MoSPI's Rapid Survey on Functional Cooperatives, proposed to start in April 2026?
Show answer
Correct answer: A — National Cooperative Database
The survey's sampling frame is the National Cooperative Database, using the list of functional cooperatives from the Ministry of Cooperation.
Which Union Minister chaired the second meeting of the committee to counter misleading publicity on processed foods on 2 February 2026?
Show answer
Correct answer: B — Chirag Paswan
Food Processing Industries Minister Chirag Paswan chaired the meeting in New Delhi.
SAIL signed an MoU with RITES on 2 February 2026 mainly for what?
Show answer
Correct answer: A — Leasing and maintenance of diesel locomotives
The MoU covers diesel locomotive leasing and maintenance for SAIL's internal rail network at plants and mines.
BAANKNET, whose mobile app was launched on 2 February 2026, is a platform for what?
Show answer
Correct answer: C — Auction of bank assets such as properties
BAANKNET stands for Bank Assets Auction Network; its app gives nationwide access to verified bank-auction properties.