MCQ Test: India's Economy and Business: Key Updates on Fiscal Health, Trade, and Regulatory Changes

1. What was the primary driver for India's fiscal deficit reaching 36.5% of the full-year target in the first half of the current financial year (FY26)?

A) Muted gross tax revenue B) Robust capital expenditure growth C) Increase in government subsidies D) Decline in foreign direct investment

2. Which of the following primarily contributed to the decrease in India's foreign exchange reserves for the week ending October 24?

A) Decline in foreign direct investment B) Reduction in foreign currency assets and gold reserves C) Increase in the import bill D) Outflow of portfolio investments

3. Indian exporters diversified their markets in the first half of 2025 primarily to mitigate the impact of what anticipated trade measure?

A) Global supply chain disruptions B) 50% US tariffs C) Increased import duties from China D) Brexit-related trade restrictions

4. Which of the following product categories was specifically mentioned as benefiting from India's market diversification efforts in 2025?

A) Pharmaceuticals B) Automobiles C) Textiles D) Software services

5. What percentage of import duty did India impose on yellow peas, effective November 1, 2025?

A) 10% B) 20% C) 30% D) 40%

6. The imposition of a 30% import duty on yellow peas by India primarily aims to achieve which of the following?

A) Increase government revenue B) Boost exports of yellow peas C) Support domestic prices and curb cheap imports D) Fulfill international trade agreements

7. The new simplified GST registration framework, part of the GST 2.0 initiative, allows for automatic approval of new GST registrations within how many working days?

A) One B) Three C) Five D) Seven

8. New RBI regulations, effective November 1, 2025, mandate banks to offer customers the choice to nominate or opt out for which of the following?

A) Only deposit accounts B) Only safe deposit lockers C) Deposit accounts, safe deposit lockers, and articles in safe custody D) Only articles in safe custody

9. Which country granted India a six-month sanctions waiver for its operations at Iran's Chabahar Port?

A) Russia B) China C) United States D) United Kingdom

10. The US sanctions waiver for India's operations at Chabahar Port is primarily seen as a strategic concession supporting what aspect of India's foreign policy?

A) India's nuclear energy program B) India's regional connectivity plans C) India's defense modernization efforts D) India's space exploration initiatives

ALL TN Comp Exams Prep

India's Economy and Business: Key Updates on Fiscal Health, Trade, and Regulatory Changes

Your Score: 0 / 0

1. What was the primary driver for India's fiscal deficit reaching 36.5% of the full-year target in the first half of the current financial year (FY26)?

2. Which of the following primarily contributed to the decrease in India's foreign exchange reserves for the week ending October 24?

3. Indian exporters diversified their markets in the first half of 2025 primarily to mitigate the impact of what anticipated trade measure?

4. Which of the following product categories was specifically mentioned as benefiting from India's market diversification efforts in 2025?

5. What percentage of import duty did India impose on yellow peas, effective November 1, 2025?

6. The imposition of a 30% import duty on yellow peas by India primarily aims to achieve which of the following?

7. The new simplified GST registration framework, part of the GST 2.0 initiative, allows for automatic approval of new GST registrations within how many working days?

8. New RBI regulations, effective November 1, 2025, mandate banks to offer customers the choice to nominate or opt out for which of the following?

9. Which country granted India a six-month sanctions waiver for its operations at Iran's Chabahar Port?

10. The US sanctions waiver for India's operations at Chabahar Port is primarily seen as a strategic concession supporting what aspect of India's foreign policy?

India's Economy and Business: Key Updates on Fiscal Health, Trade, and Regulatory Changes

Your Score: 0 / 0

1. What was the primary driver for India's fiscal deficit reaching 36.5% of the full-year target in the first half of the current financial year (FY26)?

2. Which of the following primarily contributed to the decrease in India's foreign exchange reserves for the week ending October 24?

3. Indian exporters diversified their markets in the first half of 2025 primarily to mitigate the impact of what anticipated trade measure?

4. Which of the following product categories was specifically mentioned as benefiting from India's market diversification efforts in 2025?

5. What percentage of import duty did India impose on yellow peas, effective November 1, 2025?

6. The imposition of a 30% import duty on yellow peas by India primarily aims to achieve which of the following?

7. The new simplified GST registration framework, part of the GST 2.0 initiative, allows for automatic approval of new GST registrations within how many working days?

8. New RBI regulations, effective November 1, 2025, mandate banks to offer customers the choice to nominate or opt out for which of the following?

9. Which country granted India a six-month sanctions waiver for its operations at Iran's Chabahar Port?

10. The US sanctions waiver for India's operations at Chabahar Port is primarily seen as a strategic concession supporting what aspect of India's foreign policy?

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