Economy Current Affairs Quiz — Last 3 months
Daily news by your exam, state and topic — each with a short summary, key facts and MCQs.
According to a Competere Foundation report released in July 2026, India's rank in structural and pro-competitive reforms improved from 82nd to which position?
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Correct answer: B — 57th
India advanced 25 places, from 82nd to 57th, between 2010 and 2023 on the Market Distortions Performance Index.
The Competere Foundation assesses India's reform performance (2010–2023) using which index?
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Correct answer: D — Market Distortions Performance Index
The report assesses India's performance under the Foundation's Market Distortions Performance Index.
In July 2026 APEDA facilitated the first-ever air shipment of Karnataka's Neelam and Totapuri mangoes to which country?
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Correct answer: B — Maldives
The first-ever air shipment of Neelam and Totapuri mangoes from Karnataka went to the Maldives, flagged off on 30 July 2026.
What is the new base year of India's Consumer Price Index (CPI) series released by MoSPI in 2026?
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Correct answer: D — 2024=100
MoSPI revised the CPI base year from 2012=100 to 2024=100; the new series was released on 12 February 2026.
How many weighted items are there in the All-India basket of the new CPI (2024=100) series?
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Correct answer: C — 358
The weighted items increased from 299 to 358 – goods from 259 to 308 and services from 40 to 50.
The item basket and weights of the new CPI (2024=100) series are based on which survey?
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Correct answer: A — Household Consumption Expenditure Survey 2023-24
MoSPI said the basket and weights are based on the results of the Household Consumption Expenditure Survey (HCES) 2023-24.
Consider the following statements about the new CPI (2024=100) series: 1. Monthly prices are collected from 1,465 rural and 1,395 urban markets. 2. Online markets have been added to capture e-commerce prices. 3. Its inflation figures can be directly compared with those of the 2012 series. Which of the statements given above is/are correct?
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Correct answer: A — 1 and 2 only
Prices come from 1,465 rural and 1,395 urban markets plus 12 online markets. MoSPI said a direct comparison with the old series is not feasible because of changes in basket, weights, coverage and methodology.
What was the value of India's total (merchandise plus services) exports in FY 2025-26?
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Correct answer: D — US$ 863.1 billion
India recorded its highest-ever exports of US$ 863.1 billion in FY 2025-26.
Consider the following statements about India's exports in FY 2025-26: 1. Services exports exceeded merchandise exports. 2. Merchandise exports were about US$ 441.8 billion. 3. The India–Oman CEPA came into effect during 2026. Which of the statements given above are correct?
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Correct answer: B — 2 and 3 only
Merchandise exports (US$ 441.8 bn) were higher than services exports (US$ 421.3 bn). The India–Oman CEPA took effect on 1 June 2026.
As per the Commerce Ministry's July 2026 data, what was the status of the India–New Zealand Free Trade Agreement?
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Correct answer: B — Signed, but yet to come into effect
The Ministry listed the India–New Zealand FTA as 'signed, yet to be effective'. It was the India–Oman CEPA that came into effect on 1 June 2026.
What was India's Index of Industrial Production (IIP) growth in June 2026 as per MoSPI's quick estimate?
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Correct answer: D — 7.3%
IIP grew 7.3% in June 2026. 5.1% was May's figure, 7.8% was manufacturing growth and 6.1% water supply & sewerage.
Which sector recorded the highest growth in the IIP for June 2026?
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Correct answer: C — Electricity & Gas Supply
Electricity & Gas Supply grew 10.6%, ahead of manufacturing (7.8%), water supply etc. (6.1%) and mining (1.0%).
The IIP quick estimates for June 2026 were compiled on which base year?
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Correct answer: C — 2022-23=100
The June 2026 quick estimates of IIP and Use-Based Index are on base 2022-23=100.
What was the gross NPA ratio of Public Sector Banks as on 31 March 2026?
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Correct answer: A — 1.9%
PSBs' GNPA fell to a historic low of 1.9% at end-March 2026; it was 2.6% in March 2025 and 3.5% in March 2024.
What was the aggregate net profit of Public Sector Banks in FY 2025-26?
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Correct answer: D — Rs 1.98 lakh crore
PSBs posted a highest-ever net profit of Rs 1.98 lakh crore in FY 2025-26, up from Rs 1.78 lakh crore in FY 2024-25.
Consider the following statements about Public Sector Banks in FY 2025-26: 1. Their capital adequacy ratio (CRAR) was 16.6% at end-March 2026. 2. MSME loans grew faster than agriculture loans. 3. Infrastructure loans recorded the fastest credit growth among sectors. Which of the statements given above are correct?
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Correct answer: A — 1 and 2 only
CRAR was 16.6%. MSME loans grew 19.6% against 16.2% for agriculture. Infrastructure loans grew only 4.9%, the slowest; retail (19.8%) was fastest.
In July 2026, Assam exported the first international consignment of Purabi ice cream to which country?
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Correct answer: C — Bhutan
CM Himanta Biswa Sarma flagged off 5,627 litres of Purabi ice cream to Bhutan from Guwahati on 28 July 2026.
The task force for the toy sector announced in July 2026 aims for what share of the global toy market by 2032?
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Correct answer: B — 5%
Piyush Goyal announced the task force with the goal of a 5% share in the global toy market by 2032.
The 'Team Up for Toys: Driving SCALE, Innovation and Exports' stakeholder meet, where the Toy Sector Playbook was launched, was organised by which body?
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Correct answer: D — DPIIT
The meet was organised by the Department for Promotion of Industry and Internal Trade (DPIIT) at Vanijya Bhawan, New Delhi.
Which of the following is NOT among the six objectives of the toy-sector task force announced on 27 July 2026?
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Correct answer: C — Imposing quantitative restrictions on toy imports
The six objectives are: integration with global value chains, strengthening manufacturing capabilities, resolving value-chain bottlenecks, creating a skilled workforce and employment, enabling design and innovation, and enhancing ease of doing business. Import restrictions are not among them.
On 27 July 2026, the Ministry of Tourism signed an MoU with which airline to promote India under the Incredible India brand?
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Correct answer: B — Air India
The Ministry of Tourism signed the MoU with Air India Limited in New Delhi.
The 3rd Bharat CPSEs' Consultative Conclave 2026 on Project and Asset Management concluded on 25 July 2026 at which institution?
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Correct answer: D — Gati Shakti Vishwavidyalaya, Vadodara
It concluded at Gati Shakti Vishwavidyalaya, Vadodara, organised by the Capacity Building Commission and the Department of Public Enterprises.
How many dedicated Chemical Parks will be set up under the BHAVYA Rasayan scheme approved by the Cabinet in July 2026?
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Correct answer: A — Three
BHAVYA Rasayan provides for three dedicated Chemical Parks.
What is the total financial outlay of the BHAVYA Rasayan scheme?
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Correct answer: C — ₹3,030 crore
Total outlay is ₹3,030 crore – ₹3,000 crore for common infrastructure and basic utilities and ₹30 crore for administrative expenditure.
Under BHAVYA Rasayan, the Centre's grant per Chemical Park is up to ₹1,000 crore subject to what minimum contribution by the State Government?
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Correct answer: D — ₹500 crore
The central grant of up to ₹1,000 crore per park is subject to a minimum State contribution of ₹500 crore.
Consider the following statements about the BHAVYA Rasayan scheme: 1. It was announced in the Union Budget 2026-27. 2. It will run from FY 2026-27 to FY 2030-31. 3. Its entire outlay is meant for land acquisition by States. 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: ₹3,000 crore is for Common Infrastructure Facilities and Basic Utilities inside the parks and ₹30 crore for administration.
As per RBI data shared in Parliament in July 2026, what was the value of India's services exports in FY 2025-26?
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Correct answer: C — USD 421.3 billion
Services exports were USD 421.3 billion in FY 2025-26, up from USD 387.5 billion in FY 2024-25.
Which sub-sector had the largest share (about 49%) of India's services exports in FY 2025-26?
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Correct answer: D — Telecommunications, computer and information services
Telecommunications, computer and information services earned USD 206.6 billion, 49.03% of the total; business services were second at 29.5%.
Which anniversary of Income Tax Day was celebrated by the CBDT on 24 July 2026?
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Correct answer: A — 167th
The CBDT celebrated the 167th Income Tax Day in New Delhi on 24 July 2026.
Which of the following is NOT one of the '5Rs of Responsive Tax Governance' outlined by the Finance Minister on Income Tax Day 2026?
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Correct answer: C — Revenue
The 5Rs are Recognise, Respond, Redress, Reflect and Reform. 'Revenue' is not one of them.
As informed in July 2026, how many products have been identified under the One District One Product (ODOP) initiative?
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Correct answer: B — 1,244
1,244 products have been identified across 773 districts under ODOP.
Under the final US Section 301 measures announced on 23 July 2026, what additional duty was imposed on imports from India?
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Correct answer: A — 10%
USTR imposed an additional 10% ad valorem duty on Indian imports, down from 12.5% proposed on 2 June 2026.
The US Section 301 investigation concluded in July 2026 related to which issue?
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Correct answer: C — Prohibitions on importing goods made with forced labour
The investigation covered 60 economies' acts, policies and practices on prohibiting imports of goods produced with forced labour.
Consider the following statements regarding the final US Section 301 measures (July 2026) as they apply to India: 1. About 45% of India's exports to the US remain outside the additional 10% duty. 2. Steel, aluminium and auto parts covered under Section 232 are also charged the additional 10% duty. 3. Generic pharmaceuticals and smartphones continue to remain outside its scope. Which of the statements given above are correct?
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Correct answer: B — 1 and 3 only
Statements 1 and 3 are correct. Statement 2 is wrong: products already under Section 232 measures are not subject to the additional 10% duty.
Where was the second round of India–Israel Free Trade Agreement negotiations held in July 2026?
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Correct answer: A — Vanijya Bhawan, New Delhi
The second round was held from 20 to 23 July 2026 at Vanijya Bhawan, New Delhi.
What was the total merchandise trade between India and Israel in FY 2025-26?
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Correct answer: B — USD 3.93 billion
India–Israel merchandise trade stood at USD 3.93 billion in FY 2025-26.
India's Trade Policy Review concluded at the WTO in Geneva on 23 July 2026 was its:
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Correct answer: D — Eighth
It was India's Eighth Trade Policy Review; 68 WTO Members participated.
Who led India's official delegation at its Eighth Trade Policy Review at the WTO in July 2026?
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Correct answer: B — Rajesh Agrawal
Commerce Secretary Rajesh Agrawal led the delegation.
The two Electronics Manufacturing Clusters at Manallur and Pillapaikkam, reported in July 2026, are in which State?
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Correct answer: D — Tamil Nadu
Both EMCs are in Tamil Nadu, with projects worth ₹1,012 crore.
As per MeitY (July 2026), approximately what share of mobile phones sold in India is now manufactured domestically?
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Correct answer: B — 99.2%
India now manufactures around 99.2% of the mobile phones sold in the country.
How many projects for API manufacturing have been approved in Telangana under the PLI Scheme for Bulk Drugs, as per the reply of July 2026?
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Correct answer: A — 13
13 projects under the PLI Scheme for Bulk Drugs; 16 applicants run 48 units under the PLI Scheme for Pharmaceuticals, 25 of them in Sangareddy.
What is the base year of the new Index of Core Industries series released in July 2026?
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Correct answer: B — 2022-23
The new ICI series has base year 2022-23 and replaces the 2011-12 series.
Which item has been added as a new core industry in the Index of Core Industries (base 2022-23)?
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Correct answer: A — Iron ore
Iron ore was added, raising the number of core industries from eight to nine.
Consider the following statements about the new Index of Core Industries (base year 2022-23): 1. The number of core industries has increased from eight to nine. 2. The steel index is compiled using net production data. 3. Coal middling and washed coal have been excluded, retaining only raw coal. Which of the statements given above are correct?
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Correct answer: C — 1 and 3 only
Statements 1 and 3 are correct. Statement 2 is wrong: the new series uses gross production for steel, replacing net production.
On 20 July 2026, India deposited its Instrument of Acceptance of which WTO agreement?
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Correct answer: B — Agreement on Fisheries Subsidies
India became a Party to the WTO Agreement on Fisheries Subsidies.
India is the ____ WTO Member to deposit its Instrument of Acceptance of the Agreement on Fisheries Subsidies.
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Correct answer: C — 123rd
India is the 123rd WTO Member to deposit its Instrument of Acceptance.
At which WTO Ministerial Conference was the Agreement on Fisheries Subsidies adopted?
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Correct answer: D — MC12, Geneva
The Agreement was adopted by consensus at the 12th Ministerial Conference in Geneva in June 2022.
Consider the following statements about the WTO Agreement on Fisheries Subsidies: 1. The Agreement entered into force on 15 September 2025. 2. Aquaculture and inland fisheries are covered by the Agreement. 3. The Agreement is the first multilateral WTO agreement with an environmental sustainability objective. Which of the statements given above are correct?
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Correct answer: A — 1 and 3 only
Statements 1 and 3 are correct. Statement 2 is wrong: aquaculture and inland fisheries are outside the Agreement's scope.
How many users were onboarded on UPI as of June 2026?
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Correct answer: B — 55.49 crore
NPCI informed that 55.49 crore users were onboarded on UPI as of June 2026.
What was the value of UPI transactions in FY 2025-26?
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Correct answer: D — ₹314.23 lakh crore
UPI transactions in FY 2025-26 were worth ₹314.23 lakh crore (24,161.69 crore transactions).
To which country did Uttarakhand make its first export of frozen French fries, facilitated by APEDA in July 2026?
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Correct answer: A — Iraq
The first 24-tonne consignment of frozen French fries from Uttarakhand was exported to Iraq.
From which place in Uttarakhand was the first consignment of frozen French fries exported?
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Correct answer: C — Kashipur, Udham Singh Nagar
The consignment was exported from Kashipur in Udham Singh Nagar district.
Where was the 3rd India–EU Trade and Technology Council (TTC) Ministerial Meeting, co-chaired by Piyush Goyal in July 2026, held?
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Correct answer: C — Brussels
Goyal co-chaired the 3rd India–EU TTC Ministerial Meeting in Brussels.
After the EU listed 21 more Indian fishery establishments at the 3rd India–EU TTC, what became the total number of approved Indian establishments?
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Correct answer: A — 625
With 21 more listed, the total of approved Indian fishery establishments reached 625.
With which country did India agree to advance technical talks on interoperability between UPI and that country's 'Bizum' payments platform during Piyush Goyal's July 2026 visit?
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Correct answer: D — Spain
India and Spain agreed to advance technical discussions on UPI–Bizum interoperability; Goyal also outlined the '10×10×10' vision for India–Spain ties.
Which State ranked first among Large States in NITI Aayog's Investment Friendliness Index released in July 2026?
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Correct answer: B — Gujarat
Gujarat ranked first among Large States, followed by Maharashtra and Tamil Nadu.
Which State topped the Hilly and North-Eastern States category of the Investment Friendliness Index?
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Correct answer: C — Uttarakhand
Uttarakhand ranked highest among Hilly and North-Eastern States, followed by Assam and Himachal Pradesh.
How many indicators does NITI Aayog's Investment Friendliness Index framework comprise?
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Correct answer: A — 84
The IFI framework has 84 indicators across eight pillars, including investor-perception measures.
Consider the following statements about the Investment Friendliness Index (IFI): 1. The IFI covers all 28 States and 8 Union Territories. 2. Goa topped the City States and Union Territories category. 3. The development of the IFI was announced in the Union Budget 2025–26. Which of the statements given above are correct?
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Correct answer: D — 1, 2 and 3
All three statements are correct as per NITI Aayog's release.
In which two States did self-enumeration under Phase I of Census 2027 begin on 17 July 2026?
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Correct answer: B — Tamil Nadu and Tripura
Self-enumeration began in Tamil Nadu and Tripura; houselisting field work was underway in Kerala and Nagaland.
By 17 July 2026, in how many States/UTs had the first phase (Houselisting and Housing Census) of Census 2027 been completed?
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Correct answer: A — 29
The release states that the first phase of Census 2027 has been completed in 29 States/UTs.
Consider the following statements about Census 2027 operations in Tamil Nadu and Tripura: 1. Self-enumeration is open till 31 July 2026. 2. House-to-house field enumeration will follow from 1 to 30 August 2026. 3. Information is collected under the Census Act, 1948. Which of the statements given above are correct?
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Correct answer: C — 1, 2 and 3
All three statements are correct as per the Ministry of Home Affairs release.
From which district of Uttar Pradesh were 12.5 tonnes of Dashehari and Langra mangoes exported by sea to Dubai, arriving on 17 July 2026?
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Correct answer: B — Amroha
The consignment was exported from Amroha, Uttar Pradesh.
The sea-route mango export protocol used for the Amroha–Dubai consignment was developed jointly by APEDA and which institute?
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Correct answer: D — ICAR-CISH, Lucknow
The protocol was developed jointly by ICAR–Central Institute for Subtropical Horticulture (ICAR-CISH), Lucknow, and APEDA.
Consider the following statements about the Amroha–Dubai mango sea shipment: 1. The mangoes were harvested on 22 June 2026 and reached Dubai on 17 July 2026. 2. Nearly 90% of the mangoes arrived in good marketable condition. 3. The consignment was flown to Dubai after sea transit was abandoned. 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. Statement 3 is wrong: the consignment went by sea in a 40-foot reefer container throughout.
Where is Bharat Tex 2026, described as the world's largest integrated textile event, being held?
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Correct answer: C — Bharat Mandapam, New Delhi
Bharat Tex 2026 is being held at Bharat Mandapam, New Delhi.
About how much textile investment was committed in the first three days of Bharat Tex 2026?
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Correct answer: B — ₹14,300 crore
Bharat Tex 2026 catalysed around ₹14,300 crore of textile investment commitments with 30+ MoUs.
To which country did APEDA flag off the first export of Areko cherries and Scentrose plums from Jammu & Kashmir on 16 July 2026?
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Correct answer: D — Singapore
The first export shipment of Areko cherries and Scentrose plums from Shopian and Pulwama went to Singapore.
The Areko cherries and Scentrose plums exported to Singapore in July 2026 came from which districts of Jammu & Kashmir?
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Correct answer: A — Shopian and Pulwama
The shipment came from Shopian and Pulwama.
On which date did the India–UK Comprehensive Economic and Trade Agreement (CETA) enter into force?
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Correct answer: B — 15 July 2026
CETA and the Double Contribution Convention entered into force on 15 July 2026.
India–UK CETA provides zero-duty access to approximately what share of India's exports to the UK?
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Correct answer: D — 99%
CETA gives zero-duty access to nearly 99% of India's exports, covering almost 100% of trade value.
Under the India–UK Double Contribution Convention that came into force with CETA, the exemption period for Indian workers on temporary assignment in the UK was raised to how many years?
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Correct answer: A — 5 years
The DCC exemption from UK social security contributions was increased from 3 years to 5 years.
Consider the following statements about the India–UK CETA: 1. Negotiations were concluded on 6 May 2025 after fourteen rounds. 2. CETA was signed in London on 24 July 2025. 3. The Double Contribution Convention was signed on the same day as CETA. 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. Statement 3 is wrong: the Double Contribution Convention was signed later, on 10 February 2026.