1. The newly released Consumer Price Index (CPI) series uses which base year?
Answer: B. MoSPI's new CPI series moves the base from 2012 to 2024, reflecting spending patterns from the Household Consumption Expenditure Survey 2023–24.
2. How much weight did the 16th Finance Commission give to a State's contribution to GDP in horizontal devolution?
Answer: A. This new criterion carries a 10% weight, rewarding productive States, while total tax devolution is held at 41%.
3. The Defence Acquisition Council cleared the purchase of 114 fighter jets of which type?
Answer: D. The DAC gave Acceptance of Necessity for 114 Dassault Rafale multi-role aircraft to boost the Indian Air Force's combat strength.
4. Where will the National Large Optical–Near Infrared Telescope (NLOT) be set up?
Answer: C. The 13.7-metre segmented mirror telescope is planned for Hanle in Ladakh, whose high, dry setting suits astronomical observation.
5. What problem do RBI's draft guidelines on loan recovery agents mainly target?
Answer: E. The draft rules seek to end coercion, intimidation, repeated calls and public humiliation, giving borrowers stronger protection.
6. Through which instrument does the government intend to monetise real estate held by CPSEs?
Answer: C. The Budget suggests REITs, which pool investor money into income-producing property and pass rental income on as dividends.
7. IRDAI has clarified that which funds cannot be invested overseas through Alternative Investment Funds (AIFs)?
Answer: E. Insurers may not send policyholder money abroad via AIFs, a step meant to shield policyholders from foreign investment risk and keep the system stable.
8. Which practice would be prohibited under RBI's proposed recovery norms?
Answer: D. Harsh methods such as threats, repeated calls, intimidation and humiliating borrowers or their relatives in public are barred.
9. Which expense has RBI proposed to count among eligible farm loan expenses?
Answer: B. Agri-tech costs including soil testing, live weather forecasting tools and organic certification would be covered under Kisan Credit Card loans to encourage modern farming.
10. Roughly how much pulses does India produce domestically each year?
Answer: A. Annual output is about 2.5 crore tonnes against demand near 3 crore tonnes; imports fill the shortfall, which worries farmers.
11. The new CPI series released by MoSPI uses which base year?
Answer: D. The new series moved the base year from 2012 to 2024.
12. Which Article of the Constitution provides for the Finance Commission?
Answer: A. The notes describe it as a constitutional body under Article 280.
13. How many earlier labour laws did the Industrial Relations Code, 2020 replace, as per the notes?
Answer: B. It replaced the Trade Unions Act, Standing Orders Act and Industrial Disputes Act.
14. Which body granted Acceptance of Necessity for defence proposals worth about ₹3.6 lakh crore?
Answer: A. The DAC granted AoN.
15. Which agency implements the Ayushman Sahakar Scheme?
Answer: B. The scheme is run by the National Cooperative Development Corporation.