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1.  
Using Budget 2026-27 figures (expenditure ₹ 53.5, non-debt receipts ₹ 36.5 lakh crore; FD 4.3% of GDP), the implied nominal GDP is about:

Correct Answer: D [₹ 395 lakh crore]

Explanation:

17.0 ÷ 0.043 ≈ 395.

2.  
Budget 2026-27: capital expenditure ₹ 12.2 lakh crore of total expenditure ₹ 53.5 lakh crore. Capex share is about:

Correct Answer: A [22.8%]

Explanation:

12.2 ÷ 53.5 ≈ 22.8%.

3.  
Revenue receipts 25, non-debt capital receipts 1, revenue expenditure 33, capital expenditure 9, interest 10 (₹ lakh crore). Which is/are correct?
I. Revenue deficit = 8.
II. Fiscal deficit = 16.
III. Primary deficit = 7.

Correct Answer: D [Only I and II]

Explanation:

RD 8; FD (33 + 9) − 26 = 16; PD 16 − 10 = 6.

4.  
2025-26 (PE): nominal GDP ₹ 346.36 lakh crore, real GDP ₹ 323.12 lakh crore. The GDP deflator (base 2022-23 = 100) is about:

Correct Answer: E [107.2]

Explanation:

346.36 ÷ 323.12 × 100 ≈ 107.2.

5.  
GDP 400, NFIA +3, depreciation 45. Which pair (GNP, NNP) is right?

Correct Answer: C [403, 358]

Explanation:

GNP 403; NNP 403 − 45 = 358.

6.  
How many are correct? (a) CPI base is 2024. (b) Economic Survey 2025-26 was tabled on 29 Jan 2026. (c) The 16th FC submitted its report on 17 Nov 2025. (d) The GST Council is under Article 280.

Correct Answer: A [3]

Explanation:

(a), (b), (c) true; GST Council – Article 279A.

7.  
Reverse question: total expenditure − (revenue receipts + non-debt capital receipts) gives the:

Correct Answer: B [Fiscal deficit]

Explanation:

Definition of FD.

8.  
With the repo rate at 5.50% (Oct 2026) and CPI inflation at 5.54% (Sep 2026), the approximate real policy rate is:

Correct Answer: A [−0.04%]

Explanation:

5.50 − 5.54 = −0.04 percentage points.

9.  
Arrange chronologically: Budget 2026-27, 16th FC report submitted, 16th FC constituted, Economic Survey 2025-26.

Correct Answer: E [16th FC constituted → report submitted → Economic Survey → Budget]

Explanation:

31 Dec 2023 → 17 Nov 2025 → 29 Jan 2026 → 1 Feb 2026.

10.  
Real GDP in Q1 2026-27 was ₹ 81.36 lakh crore against ₹ 75.46 lakh crore in Q1 2025-26. The growth rate is about:

Correct Answer: B [7.8%]

Explanation:

81.36 ÷ 75.46 − 1 ≈ 7.8% (MoSPI, 31 Aug 2026).

11.  
The combined fiscal deficit of States in FY25, as per the Economic Survey 2025-26, was:

Correct Answer: C [3.2% of GDP]

Explanation:

3.2% (up from a post-pandemic average of about 2.8%).

12.  
Odd one out (capital receipts):

Correct Answer: D [Dividends from PSUs]

Explanation:

Dividends are non-tax revenue receipts; the others are capital receipts.

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