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1.  
GDP ₹ 320, NFIA −₹ 6, depreciation ₹ 36 (lakh crore). NNP is:

Correct Answer: A [₹ 278 lakh crore]

Explanation:

GNP 314; NNP 314 − 36 = 278.

2.  
Revenue receipts 28, non-debt capital receipts 1, revenue expenditure 36, capital expenditure 10, interest 11 (₹ lakh crore). The fiscal deficit is:

Correct Answer: E [₹ 17 lakh crore]

Explanation:

(36 + 10) − (28 + 1) = 17.

3.  
For the same data, the primary deficit is:

Correct Answer: B [₹ 6 lakh crore]

Explanation:

PD = 17 − 11 = 6.

4.  
A price index moves from 150 to 159 in a year. Inflation is:

Correct Answer: C [6%]

Explanation:

9 ÷ 150 × 100 = 6%.

5.  
As per the Provisional Estimates (5 June 2026), real GDP growth in 2025-26 was:

Correct Answer: D [7.7%]

Explanation:

7.7% (8.9% is nominal growth; 7.4% was the first advance estimate on the old base).

6.  
The Economic Survey 2025-26 projected real GDP growth for 2026-27 at:

Correct Answer: A [6.8% to 7.2%]

Explanation:

6.8% to 7.2%.

7.  
Match the article with its subject:
(i) Article 110 (ii) Article 266 (iii) Article 267 (iv) Article 280
(p) Contingency Fund of India (q) Consolidated Fund of India (r) Finance Commission (s) Money Bill

Correct Answer: D [i-s, ii-q, iii-p, iv-r]

Explanation:

Direct look-up.

8.  
About Budget 2026-27 (BE), which is/are correct?
I. Total expenditure is ₹ 53.5 lakh crore.
II. Capital expenditure is ₹ 12.2 lakh crore.
III. Debt-to-GDP is estimated at 45.6%.

Correct Answer: C [Only I and II]

Explanation:

I and II true; debt-to-GDP 55.6%.

9.  
All-India CPI inflation for September 2026 (MoSPI, 12 Oct 2026) was:

Correct Answer: B [5.54%]

Explanation:

5.54% (food 7.74%; urban 4.88%; rural 6.08%).

10.  
Odd one out (revenue expenditure):

Correct Answer: E [Construction of a highway]

Explanation:

Building a highway creates an asset – capital expenditure.

11.  
A sustained rise in prices together with stagnant output and high unemployment is:

Correct Answer: A [Stagflation]

Explanation:

Stagflation.

12.  
India's forex reserves cited in the Economic Survey 2025-26 (as on 16 Jan 2026) were:

Correct Answer: C [USD 701.4 billion]

Explanation:

USD 701.4 billion – about 11 months of imports.

13.  
Trick Spotter: "CPI's new base is 2022-23" – which shortcut catches the error?

Correct Answer: B [22 – 24 – 22]

Explanation:

GDP 2022-23, CPI 2024, IIP 2022-23.

14.  
Which law sets the framework for India's deficit and debt reduction?

Correct Answer: D [FRBM Act, 2003]

Explanation:

FRBM Act, 2003.

15.  
Which institution compiles the Wholesale Price Index (WPI)?

Correct Answer: E [Office of the Economic Adviser, DPIIT]

Explanation:

WPI – Office of the Economic Adviser, DPIIT; CPI – MoSPI.

16.  
Remittances from Indians abroad appear in which part of the balance of payments?

Correct Answer: B [Current account (secondary income)]

Explanation:

Remittances are current transfers.

17.  
Raising the repo rate is an instrument of:

Correct Answer: B [monetary policy (RBI)]

Explanation:

Repo – RBI's monetary policy; taxes and spending are fiscal policy.

18.  
As per the Economic Survey 2025-26, private final consumption expenditure in FY26 was about:

Correct Answer: C [61.5% of GDP]

Explanation:

PFCE 61.5% of GDP; GFCF 30%.

19.  
Under the Fifteenth Finance Commission, the States' share of the divisible pool was:

Correct Answer: E [41%]

Explanation:

41% (for 28 States).

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