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 was the procurement price of onions for the Price Stabilisation Buffer raised from 4 July 2026?
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Correct answer: B — Rs 2,125 per quintal
The procurement price was raised by 13%, from Rs 1,875 to Rs 2,125 per quintal.
Which agencies procure onions for the government's Price Stabilisation Buffer?
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Correct answer: C — NAFED and NCCF
Procurement of onions for the Price Stabilisation Buffer is being done through NAFED and NCCF.
The first export shipment of Areko cherries and Scentrose plums from Jammu and Kashmir to the UAE (July 2026) was sourced from which districts?
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Correct answer: D — Shopian and Pulwama
The one-tonne consignment was sourced from farmers in Shopian and Pulwama districts.
How many priority districts are covered by the 90-day export drive announced at the Board of Trade meeting on 3 July 2026?
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Correct answer: C — 120
The 90-day export drive will cover 120 priority districts across 27 States and UTs under the Districts as Export Hubs initiative.
What is the outlay of the Export Promotion Mission that Piyush Goyal said will drive MSME-led export growth?
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Correct answer: D — Rs 25,000 crore
Shri Goyal said the Rs 25,000 crore Export Promotion Mission will drive MSME-led export growth.
Which of the following countries is NOT a member of the European Free Trade Association (EFTA), India's partner in TEPA?
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Correct answer: D — Denmark
EFTA comprises Iceland, Liechtenstein, Norway and Switzerland; Denmark is not a member.
How much investment into India does the India-EFTA TEPA aim to facilitate?
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Correct answer: B — USD 100 billion
TEPA carries an ambition to facilitate USD 100 billion in investments into India and support one million direct jobs.
Under India-EFTA TEPA, which EFTA country eliminated its 55% import duty on feed, including fish feed?
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Correct answer: A — Iceland
Iceland eliminated its 55% duty on feed including fish feed; Norway removed a 13.16% duty and Switzerland cut fish fats and oils from 18.05% to zero.
Where was the India-France Economic and Financial Dialogue co-chaired by Nirmala Sitharaman and Roland Lescure held on 3 July 2026?
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Correct answer: B — Aix-en-Provence
The Ministers co-chaired the EFD in Aix-en-Provence.
Who co-chaired the India-France Economic and Financial Dialogue on 3 July 2026 for France?
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Correct answer: D — Roland Lescure
Roland Lescure, France's Minister of Economy, Finance, Industrial, Energy and Digital Sovereignty, co-chaired with Nirmala Sitharaman.
Where was India's first Made-in-India EXIM shipping container for Maersk unveiled on 3 July 2026?
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Correct answer: B — Maersk-CONCOR ICD, Dadri, Uttar Pradesh
Sarbananda Sonowal unveiled the container at the Maersk-CONCOR Inland Container Depot in Dadri, Uttar Pradesh.
What is the outlay of the Container Manufacturing Promotion Scheme (CMPS) announced in the Union Budget 2026?
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Correct answer: D — Rs 10,000 crore
The release refers to the Rs 10,000 crore CMPS framework announced in the Union Budget 2026 for domestic container manufacturing.
With which company did Maersk place an order for 1,000 more India-made containers on 3 July 2026?
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Correct answer: C — DCM Shriram Group
Maersk placed an order for 1,000 additional India-manufactured shipping containers with DCM Shriram Group.
According to the Ministry of Coal, what was the share of imports in India's total coal consumption in April 2026?
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Correct answer: D — 19.68%
Coal imports as a share of total consumption fell from 21.69% in April 2025 to 19.68% in April 2026.
According to UNCTAD estimates cited by the Ports Ministry in July 2026, India's share of worldwide ship recycling in 2025 was:
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Correct answer: C — 35.4%
India's share in worldwide ship recycling rose from 30.1% in 2024 to 35.4% in 2025.
As of July 2026, how many Indian ship recycling facilities had completed all compliance procedures and become eligible to apply for inclusion under the EU Ship Recycling Regulation?
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Correct answer: A — Three
More than 30 yards applied, six are in the compliance process and three have completed all procedures and are eligible to apply.
With which European Commissioner did Sarbananda Sonowal review the EU recognition process for Indian ship recycling yards on 1 July 2026?
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Correct answer: B — Jessika Roswall
The talks were with Jessika Roswall, European Commissioner for Environment, Water Resilience and a Competitive Circular Economy.
In July 2026 the Competition Commission of India approved the acquisition of 100% shareholding of which company by a consortium including Big Banyan Holdings and Times Internet?
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Correct answer: C — Royal Challengers Sports Pvt Ltd
The CCI approved the acquisition of 100% shareholding of Royal Challengers Sports Private Limited (RCB).
The 24 kg of foreign-origin gold seized by DRI in Nadia district, West Bengal (July 2026) was seized under which law?
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Correct answer: A — Customs Act, 1962
The gold, about 24 kg worth about Rs 34 crore, was seized under the provisions of the Customs Act, 1962.
MECON Limited, granted Miniratna Category-I status in July 2026, is headquartered in:
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Correct answer: A — Ranchi
MECON Limited, established in 1959, is headquartered in Ranchi and is under the Ministry of Steel.
The Ministry of MSME notification of 30 June 2026 makes it mandatory for which entities to settle invoices from MSME suppliers through TReDS platforms?
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Correct answer: A — All operating Central Public Sector Enterprises
The notification mandates all operating CPSEs to route the settlement of invoices for goods and services procured from MSMEs through RBI-authorised TReDS platforms.
TReDS (Trade Receivables Discounting System) platforms are authorised and regulated by:
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Correct answer: C — Reserve Bank of India
TReDS is an RBI-regulated electronic platform, and the CPSE mandate is for settlement through TReDS platforms authorised by the RBI.
Since which year has the TReDS platform for discounting trade receivables of MSMEs been operational?
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Correct answer: B — 2017
TReDS is an RBI-regulated electronic platform, operational since 2017, for financing and discounting MSME trade receivables through competitive bidding by multiple financiers.
Which of the following is NOT among the five TReDS platforms currently operational, as listed by the Ministry of MSME in July 2026?
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Correct answer: D — GeM
The five operational TReDS platforms are RXIL, M1xchange, Invoicemart, C2treds and DTX. GeM is the Government e-Marketplace, not a TReDS platform.
Consider the following statements about the TReDS mandate for CPSEs (June 2026): 1. Financing on TReDS is collateral-free and without recourse to the seller. 2. CPSEs must obtain a statutory auditor's certificate of TReDS registration and compliance during their annual audit. 3. Invoice discounting on TReDS was Rs 3.47 lakh crore in FY 2021-22. Which of the statements given above are correct?
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Correct answer: C — 1 and 2 only
Statements 1 and 2 are correct. Invoice discounting rose from Rs 40,000 crore in FY 2021-22 to Rs 3.47 lakh crore in FY 2025-26, so statement 3 is wrong.
UPI services went live in Greece on 30 June 2026 through NIPL's partnership with which bank?
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Correct answer: D — Eurobank
Piyush Goyal witnessed the live demonstration of the Eurobank-NIPL partnership enabling UPI services at Eurobank headquarters.
In which city did Piyush Goyal witness the launch of UPI in Greece in June 2026?
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Correct answer: B — Athens
The launch was witnessed at Eurobank headquarters in Athens.
Under the merger scheme approved by the boards of PFC and REC in June 2026:
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Correct answer: B — REC will merge into PFC
The scheme provides for merger of REC (Transferor Company) into PFC (Transferee Company).
What is the share exchange ratio fixed for the proposed merger of REC into PFC (June 2026)?
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Correct answer: D — 88 PFC shares for every 100 REC shares
REC shareholders will get 88 equity shares of PFC of Rs 10 each for every 100 equity shares of REC of Rs 10 each.
The PFC-REC Scheme of Merger (June 2026) was approved under which provisions of the Companies Act, 2013?
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Correct answer: A — Sections 230 to 232
The boards approved the Scheme under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013.
According to Raksha Mantri Rajnath Singh at the Vibrant Gujarat Regional Conference (June 2026), India's domestic defence production has reached a record:
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Correct answer: A — Rs 1.78 lakh crore
Domestic defence production has surged to a record Rs 1.78 lakh crore from Rs 46,000 crore in 2014.
What all-time high figure for India's defence exports did Rajnath Singh cite in Vadodara on 30 June 2026?
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Correct answer: D — Rs 38,424 crore
Defence exports, earlier less than Rs 1,000 crore, have soared to an all-time high of Rs 38,424 crore.
In June 2026 the full customs duty exemption on imports of critical petrochemical products, given in view of the West Asia conflict, was extended till:
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Correct answer: C — 15 July 2026
The exemption, due to end on 30 June 2026, was extended by 15 days to 15 July 2026.
Who became the first Union MSME Minister to visit Ladakh, reviewing MSME schemes in Leh during 29-30 June 2026?
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Correct answer: A — Jitan Ram Manjhi
Union MSME Minister Jitan Ram Manjhi reviewed MSME schemes in Leh and was described as the first MSME Minister to visit Ladakh.
VISHWAS, 2026, which came into force on 29 June 2026 as part of the EPF Scheme, 2026, is meant for:
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Correct answer: A — Settlement of disputes over EPF damages and penalties
VISHWAS, 2026 is a one-time dispute resolution initiative to settle disputes over damages under Section 14B of the EPF & MP Act, 1952 and penalties under Section 128 of the Code on Social Security, 2020.
The EPFO Amnesty Scheme, 2026 grants retrospective exemption to establishments running recognised Provident Fund Trusts under which section of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952?
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Correct answer: B — Section 17
Amnesty is granted retrospectively under Section 17 of the EPF & MP Act, 1952 and Section 143 of the Code on Social Security, 2020. Section 14B deals with damages and Section 7Q with interest.
Under VISHWAS, 2026, damages for a default of more than four months, pertaining to the period before 14 June 2024, are recalculated at:
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Correct answer: C — 1.00% per month
The reduced rates are 0.25% a month for defaults up to two months, 0.50% for two to less than four months, and 1.00% for defaults exceeding four months.
Consider the following statements about the EPFO schemes notified in June 2026: 1. Both VISHWAS, 2026 and the Amnesty Scheme, 2026 are part of the EPF Scheme, 2026 notified vide G.S.R. 525(E) dated 29 June 2026. 2. The Amnesty Scheme is open for six months from notification. 3. Cases involving fraud or deliberate falsification of records can be settled under VISHWAS, 2026. Which of the statements given above are correct?
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Correct answer: D — 1 and 2 only
Statements 1 and 2 are correct. Cases of fraud, misappropriation or deliberate falsification of records are excluded from VISHWAS, 2026, so statement 3 is wrong.
What was the theme of the 20th Statistics Day observed by MoSPI on 29 June 2026?
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Correct answer: C — Unlocking the Potential of Administrative Data
The theme for the 20th Statistics Day was 'Unlocking the Potential of Administrative Data'.
Statistics Day is observed in India on 29 June every year in honour of the birth anniversary of:
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Correct answer: A — Prasanta Chandra Mahalanobis
Statistics Day honours Professor Prasanta Chandra Mahalanobis, the architect of India's modern statistical system and a pioneer in economic planning; 2026 marked his 133rd birth anniversary.
Who received the Sukhatme National Award in Statistics for 2026 on the 20th Statistics Day?
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Correct answer: B — Dr. Arup Bose
Dr. Arup Bose, retired Professor of the Indian Statistical Institute, Kolkata, received the Sukhatme National Award in Statistics for 2026.
After the additional Rs 30,000 crore approved by the Union Cabinet in June 2026, the Government of India's total investment commitment to NIIF stands at:
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Correct answer: C — Rs 60,000 crore
The additional Rs 30,000 crore takes the Government of India's total commitment to NIIF to Rs 60,000 crore. About Rs 40,000 crore is the capital NIIF currently manages.
What is the Government of India's shareholding in the National Investment and Infrastructure Fund (NIIF)?
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Correct answer: A — 49%
The Government of India is a 49% shareholder in NIIF, which is professionally managed by National Investment and Infrastructure Fund Limited.
According to MoSPI's release of 29 June 2026, India's Index of Industrial Production grew by how much year-on-year in May 2026?
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Correct answer: D — 5.1%
IIP grew 5.1% in May 2026. The 5.5% figure is the growth of the manufacturing sector.
Which sector recorded 9.9% growth in the IIP for May 2026?
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Correct answer: B — Electricity and gas supply
Electricity and gas supply grew 9.9% in May 2026, while manufacturing grew 5.5%.
In the revised IIP series (base 2022-23) released in June 2026, which index replaced the Wholesale Price Index as the deflator for item groups reported in value terms?
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Correct answer: A — Output Producer Price Index
MoSPI adopted the Output Producer Price Index, released by DPIIT with base 2022-23 on 15 June 2026, in place of WPI for 234 of 463 item groups (36.02% of weight).
Piyush Goyal led an Indian business delegation to Athens, Greece, in June 2026 after concluding a visit to which country?
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Correct answer: B — United Kingdom
Goyal concluded his visit to the United Kingdom with the India-UK 'Partners in Progress' Business Plenary in London before leading the delegation to Greece.
Which United Nations theme for MSME Day 2026 did Vice-President C.P. Radhakrishnan refer to on 27 June 2026?
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Correct answer: A — Human-Centered Entrepreneurship in an AI-Driven Future
The Vice-President referred to this year's UN theme, 'Human-Centered Entrepreneurship in an AI-Driven Future'.
The National Small Industries Corporation (NSIC) was felicitated on MSME Day 2026 for its upgradation to:
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Correct answer: D — Schedule 'A' CPSE
NSIC was felicitated on its upgradation from a Schedule 'B' to a Schedule 'A' Central Public Sector Enterprise.
The GI-tagged Ponduru Khadi presented to the Vice-President on MSME Day 2026 comes from which district of Andhra Pradesh?
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Correct answer: C — Srikakulam
Ponduru Khadi is a traditional GI-tagged textile from Srikakulam district of Andhra Pradesh.
On MSME Day 2026 the ministry enabled access to MSME portals in all 22 Scheduled Indian languages. These languages are listed in which Schedule of the Constitution of India?
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Correct answer: B — Eighth Schedule
The 22 Scheduled languages are those included in the Eighth Schedule of the Constitution, as listed by the Department of Official Language.
Import of firecrackers into India is 'Restricted' and requires licences from the DGFT and which other body under the Explosives Rules, 2008?
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Correct answer: D — Petroleum and Explosives Safety Organisation (PESO)
Firecracker imports need valid licences from both the DGFT and the Petroleum and Explosives Safety Organisation (PESO) under the Explosives Rules, 2008.
Through which port did the DRI foil attempts to smuggle Chinese-origin firecrackers worth Rs 35 crore, as reported on 27 June 2026?
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Correct answer: C — Chennai Port
DRI foiled two attempts to smuggle Chinese-origin fireworks and firecrackers into India through Chennai Port.
The first commercial export of GI-tagged Rewa Sundarja mangoes from Madhya Pradesh, facilitated by APEDA in June 2026, was sent to:
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Correct answer: D — United Arab Emirates
The first commercial consignment of Rewa Sundarja mangoes was exported to the United Arab Emirates on 26 June 2026.
From which airport was the first export consignment of Rewa Sundarja mangoes flown to the UAE in June 2026?
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Correct answer: B — Varanasi
After packing at Bhadohi, Uttar Pradesh, the consignment was transported to Varanasi Airport for air shipment to the UAE.
What was the size of the first commercial export consignment of Rewa Sundarja mangoes shipped on 26 June 2026?
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Correct answer: A — 1 metric tonne
The first commercial consignment comprised one metric tonne of GI-tagged Rewa Sundarja mangoes, exported by Salt Range Foods Pvt. Ltd.
In which city did Piyush Goyal lead the India-UK 'Partners in Progress' Business Plenary on the India-UK CETA in June 2026?
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Correct answer: C — London
Goyal led the India-UK 'Partners in Progress' Business Plenary in London.
Section 29 of the Drugs and Cosmetics Act, 1940, omitted under the Jan Vishwas Act, 2026 reforms operationalised in June 2026, had penalised:
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Correct answer: B — Use of a Government Analyst's report for advertising a drug or cosmetic
Section 29 prescribed a penalty of up to Rs 1 lakh for the use of a Government Analyst's report for advertising any drug or cosmetic; it has been omitted.
Under the Jan Vishwas Act, 2026 amendments to the Food Safety and Standards Act, 2006, the imprisonment term for interfering with seized items was changed:
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Correct answer: D — From 6 months to 3 months
The punishment for interfering with seized items has been rationalised, with imprisonment reduced from six months to three months.
How many advisory personnel did Piyush Goyal announce, at UK-India Week in London on 26 June 2026, would be deployed across India to help businesses use the India-UK CETA?
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Correct answer: D — 1,000
Goyal announced the deployment of 1,000 advisory personnel across the country and an upgraded trade portal.
According to Piyush Goyal (June 2026), the India-UK CETA gives eligible Indian professionals working in the UK an exemption from social security contributions for:
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Correct answer: B — Five years
The agreement provides a five-year exemption from social security contributions for eligible Indian professionals working in the United Kingdom.
Goa's new Captain of Ports Terminal Building, inaugurated in Panaji on 26 June 2026, overlooks which river?
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Correct answer: D — Mandovi
The new terminal, inspired by the form of a ship docked along the riverbank, overlooks the Mandovi River.
While inaugurating the Captain of Ports Terminal in June 2026, Sarbananda Sonowal noted that Goa was the first state to implement which law?
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Correct answer: B — Inland Vessels Act, 2021
Sonowal noted that Goa became the first state to implement the Inland Vessels Act, 2021.
Which port was described by the Ports Ministry in June 2026 as India's first Green Port and the first to introduce Green Ship Incentives?
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Correct answer: A — Mormugao Port
Sonowal said Mormugao Port has become India's first Green Port and the first to introduce Green Ship Incentives.
According to the Directorate of Revenue Intelligence (26 June 2026), its cocaine seizures and arrests since May 2026 stood at about:
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Correct answer: B — 26 kg and 22 arrests
DRI has cumulatively seized approximately 26 kg of cocaine since May 2026 and arrested 22 persons, including 14 foreign nationals.