1. Which Indian state recently saw the announcement of a Makhana Board to promote Makhana cultivation and exports?
Answer: A. The 2025 Union Budget announced a Makhana Board in Bihar to promote fox nut cultivation and exports, recognising the state's big role in its production.
2. What is the name of the measure in the 2025 Union Budget that exempts income up to ₹12 lakh from income tax?
Answer: C. The New Income Tax Bill from the 2025 Union Budget frees people earning up to ₹12 lakh a year from tax, simplifying the system and lightening compliance.
3. Which initiative was launched to extend enhanced credit via Kisan Credit Cards (KCC) to farmers, fishermen and dairy farmers?
Answer: D. This yojana makes short-term loans of up to ₹5 lakh available through KCC to 7.7 crore farmers, fishermen and dairy farmers, widening access to credit.
4. Which cooperative bank was caught up in a ₹122 crore scam that led the RBI to restrict withdrawals?
Answer: D. Funds were misappropriated over six years at New India Cooperative Bank, after which the RBI limited withdrawals and superseded its board.
5. In May 2025, what step did the RBI take to put liquidity into the banking system?
Answer: E. The RBI announced it would buy bonds worth ₹1.25 trillion to add liquidity, which works much like a rate cut by lowering short-term interest rates.
6. According to the RBI, what is the revised GDP growth forecast for India for fiscal year 2024-25?
Answer: A. The RBI lowered its 2024-25 growth forecast from 6.7% to 6.5%, with stable inflation and moderate growth shaping its accommodative stance.
7. According to the Reuters poll, what is the main reason India's economic outlook has dimmed?
Answer: B. The poll said growth prospects weakened because of proposed U.S. tariffs and persistently weak private investment, cutting the GDP forecast from 6.5% to 6.3%.
8. What average consumer inflation rate is expected for India in fiscal year 2024-25?
Answer: C. Consumer inflation is projected to average 4.0% in 2024-25, in line with the RBI's target and leaving space for accommodative policy to support growth.
9. What effect is the favorable monsoon forecast expected to have on India's economy?
Answer: D. With rains forecast to be about 5% above average, food prices should steady, which may leave room for rate cuts to spur growth amid global uncertainty.
10. By which date did India hope to finalise an early BTA tranche with the US?
Answer: B. India hoped to finalise it by July 8, 2025, before the tariff pause expires.
11. In which year was the Kailash Mansarovar Yatra initiated under an India-China bilateral agreement?
Answer: B. The pilgrimage began in 1981.
12. Which UN body received India's revised Arabian Sea extended continental shelf submissions?
Answer: A. The submissions went to the Commission on the Limits of the Continental Shelf.
13. What does SBaaS stand for in the INSPACe initiative?
Answer: C. SBaaS means Satellite Bus as a Service.
14. Five cheetah cubs were recently born in which national park under Project Cheetah?
Answer: B. The cubs were born at Kuno National Park, Madhya Pradesh.
15. According to the World Bank report, India's extreme poverty at $2.15 per day fell to what level in 2022-23?
Answer: B. It dropped from 16% in 2011-12 to 2.3% in 2022-23.