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1.  
About the GDP data, which is/are correct?
I. The new GDP series has base year 2022-23.
II. Provisional Estimates put real GDP growth for 2025-26 at 7.7%.
III. Real GDP grew 6.9% in Q1 2026-27.

Correct Answer: C [Only I and II]

Explanation:

I and II true; Q1 2026-27 growth was 7.8% (6.9% was Q1 2025-26).

2.  
About the Economic Survey 2025-26, which is/are correct?
I. It reported the gross NPA ratio of SCBs at 2.2% (September 2025).
II. It put services at 56.4% of GVA in FY26.
III. It reported remittances of USD 135.4 billion in FY25.

Correct Answer: D [All of I, II and III]

Explanation:

All three are correct.

3.  
About Budget 2026-27, which is/are correct?
I. Gross market borrowings are ₹ 17.2 lakh crore.
II. Net tax receipts of the Centre are ₹ 36.5 lakh crore.
III. The Budget highlights (PIB) say ₹ 1.4 lakh crore is provided to States as Finance Commission grants for 2026-27.

Correct Answer: E [Only I and III]

Explanation:

I and III true; net tax receipts ₹ 28.7 lakh crore (₹ 36.5 lakh crore is all non-debt receipts).

4.  
About the Sixteenth Finance Commission, which is/are correct?
I. It was constituted on 31 December 2023.
II. Its award period is 2026-27 to 2030-31.
III. It was set up under Article 279A.

Correct Answer: A [Only I and II]

Explanation:

I and II true; Article 280.

5.  
About CPI inflation for September 2026, which is/are correct?
I. Rural inflation was higher than urban inflation.
II. Food inflation was above headline inflation.
III. Headline inflation was outside the RBI's 2–6% band.

Correct Answer: B [Only I and II]

Explanation:

Rural 6.08 > urban 4.88; food 7.74 > 5.54; headline 5.54 is within 2–6%.

6.  
Revenue receipts 32, non-debt capital receipts 2, revenue expenditure 40, capital expenditure 12, interest 13 (₹ lakh crore). Which is/are correct?
I. Fiscal deficit is 18.
II. Primary deficit is 5.
III. Revenue deficit is larger than primary deficit.

Correct Answer: D [All of I, II and III]

Explanation:

FD 52 − 34 = 18; PD 5; RD 8 > 5 – all correct.

7.  
Match the indicator with its new base:
(i) GDP (ii) CPI (iii) Old GDP base (iv) Old CPI base
(p) 2012 (q) 2022-23 (r) 2024 (s) 2011-12

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

Explanation:

GDP 2022-23 (old 2011-12); CPI 2024 (old 2012).

8.  
About inflation terms, which is/are correct?
I. Core inflation excludes food and fuel.
II. Deflation is a fall in the general price level.
III. Cost-push inflation arises from excess demand.

Correct Answer: E [Only I and II]

Explanation:

I and II true; excess demand causes demand-pull inflation.

9.  
About GST, which is/are correct?
I. It came into force on 1 July 2017.
II. The GST Council is chaired by the Union Finance Minister.
III. IGST applies to intra-State supplies.

Correct Answer: C [Only I and II]

Explanation:

I and II true; IGST is for inter-State supplies and imports.

10.  
Odd one out (released by MoSPI):

Correct Answer: A [Union Budget]

Explanation:

The Budget is presented by the Finance Ministry; the others are MoSPI statistics.

11.  
About the Budget 2026-27 numbers (computed), which is/are correct?
I. The fiscal deficit in rupees is ₹ 17 lakh crore.
II. Net market borrowing finances about 69% of the fiscal deficit.
III. Total expenditure grows about 15% over RE 2025-26.

Correct Answer: C [Only I and II]

Explanation:

53.5 − 36.5 = 17; 11.7 ÷ 17 ≈ 69%; growth ≈ 7.9%, not 15%.

12.  
About Budget 2026-27 tax measures, which is/are correct?
I. STT on futures was raised from 0.02% to 0.05%.
II. TCS on LRS remittances for education and medical was cut from 5% to 2%.
III. The new Income-tax Act, 2025 takes effect from April 2027.

Correct Answer: D [Only I and II]

Explanation:

I and II true; the new Act takes effect from April 2026.

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