MCQ Test: India's Economy Shines: IMF Hails Growth, Digital Currency on the Horizon, and Third-Largest Economy Status by 2028

1. Who recently hailed India as a 'key growth engine' for the global economy and noted its resilience?

A) UK Prime Minister Keir Starmer B) IMF Managing Director Kristalina Georgieva C) NITI Aayog Chairman D) Union Minister Nitin Gadkari

2. What was India's real GDP growth in Q1 of FY 2025–26, as highlighted by the IMF?

A) 6.5% B) 7.0% C) 7.8% D) 8.2%

3. By what year did UK Prime Minister Keir Starmer project India to become the third largest economy?

A) 2025 B) 2028 C) 2030 D) 2035

4. India is preparing to launch its own digital currency, which will be backed by which institution?

A) State Bank of India (SBI) B) NITI Aayog C) Reserve Bank of India (RBI) D) Ministry of Finance

5. India is set to host which significant event related to technological advancement in financial systems?

A) Global Fintech Forum B) Digital Payments Summit C) AI Impact Summit D) Blockchain Innovation Conference

6. Which body proposed a major overhaul of India's tax enforcement framework, aiming to reduce criminal liability for tax offenses?

A) Ministry of Finance B) Central Board of Direct Taxes (CBDT) C) NITI Aayog D) Parliament of India

7. What was India's foreign exchange reserves for the week ending October 3?

A) $700.24 billion B) $699.96 billion C) $690.50 billion D) $710.10 billion

8. India's automobile sector has surged to become the world's third-largest, surpassing which country?

A) Germany B) United States C) Japan D) South Korea

9. What is the current estimated value of India's automobile industry, as announced by Union Minister Nitin Gadkari?

A) ₹15 lakh crore B) ₹18 lakh crore C) ₹22 lakh crore D) ₹25 lakh crore

10. Which of the following factors were attributed to India's impressive GDP growth in Q1 FY 2025-26?

A) Increased foreign investment and export subsidies B) Revival in consumption and recent GST rate reductions C) Government spending on infrastructure and agricultural reforms D) Decline in global oil prices and increased remittances

11. A primary aim of India's upcoming digital currency initiative is to:

A) Replace all physical cash transactions immediately B) Make financial services faster, safer, and more accessible C) Facilitate international trade without traditional banking D) Provide direct cash transfers to citizens without verification

12. Which bank scheduled maintenance on October 11, affecting services like UPI, IMPS, NEFT, RTGS, and YONO?

A) Punjab National Bank (PNB) B) HDFC Bank C) State Bank of India (SBI) D) ICICI Bank

13. Punjab National Bank (PNB) announced a festive offer for car loans with what key feature?

A) Interest rates starting from 8.5% with high processing fees B) Interest rates from 7.85% with zero processing fees C) Fixed interest rates for all customers, irrespective of credit score D) Mandatory prepayment charges for early closure

14. According to the NITI Aayog proposal, under what condition should criminal liability be retained for tax offenses?

A) For all tax offenses regardless of value B) Only for willful and high-value evasion C) For offenses involving digital transactions D) When the taxpayer is a foreign entity

15. Union Minister Nitin Gadkari expressed optimism for India to become a global leader in auto manufacturing within five years through advancements in:

A) Increased import of foreign technology and components B) Expansion of manual labor and traditional production methods C) Research, innovation, and alternative fuels D) Reduction of safety standards to boost production

ALL TN Comp Exams Prep

India's Economy Shines: IMF Hails Growth, Digital Currency on the Horizon, and Third-Largest Economy Status by 2028

Your Score: 0 / 0

1. Who recently hailed India as a 'key growth engine' for the global economy and noted its resilience?

2. What was India's real GDP growth in Q1 of FY 2025–26, as highlighted by the IMF?

3. By what year did UK Prime Minister Keir Starmer project India to become the third largest economy?

4. India is preparing to launch its own digital currency, which will be backed by which institution?

5. India is set to host which significant event related to technological advancement in financial systems?

6. Which body proposed a major overhaul of India's tax enforcement framework, aiming to reduce criminal liability for tax offenses?

7. What was India's foreign exchange reserves for the week ending October 3?

8. India's automobile sector has surged to become the world's third-largest, surpassing which country?

9. What is the current estimated value of India's automobile industry, as announced by Union Minister Nitin Gadkari?

10. Which of the following factors were attributed to India's impressive GDP growth in Q1 FY 2025-26?

11. A primary aim of India's upcoming digital currency initiative is to:

12. Which bank scheduled maintenance on October 11, affecting services like UPI, IMPS, NEFT, RTGS, and YONO?

13. Punjab National Bank (PNB) announced a festive offer for car loans with what key feature?

14. According to the NITI Aayog proposal, under what condition should criminal liability be retained for tax offenses?

15. Union Minister Nitin Gadkari expressed optimism for India to become a global leader in auto manufacturing within five years through advancements in:

India's Economy Shines: IMF Hails Growth, Digital Currency on the Horizon, and Third-Largest Economy Status by 2028

Your Score: 0 / 0

1. Who recently hailed India as a 'key growth engine' for the global economy and noted its resilience?

2. What was India's real GDP growth in Q1 of FY 2025–26, as highlighted by the IMF?

3. By what year did UK Prime Minister Keir Starmer project India to become the third largest economy?

4. India is preparing to launch its own digital currency, which will be backed by which institution?

5. India is set to host which significant event related to technological advancement in financial systems?

6. Which body proposed a major overhaul of India's tax enforcement framework, aiming to reduce criminal liability for tax offenses?

7. What was India's foreign exchange reserves for the week ending October 3?

8. India's automobile sector has surged to become the world's third-largest, surpassing which country?

9. What is the current estimated value of India's automobile industry, as announced by Union Minister Nitin Gadkari?

10. Which of the following factors were attributed to India's impressive GDP growth in Q1 FY 2025-26?

11. A primary aim of India's upcoming digital currency initiative is to:

12. Which bank scheduled maintenance on October 11, affecting services like UPI, IMPS, NEFT, RTGS, and YONO?

13. Punjab National Bank (PNB) announced a festive offer for car loans with what key feature?

14. According to the NITI Aayog proposal, under what condition should criminal liability be retained for tax offenses?

15. Union Minister Nitin Gadkari expressed optimism for India to become a global leader in auto manufacturing within five years through advancements in:

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