National Affairs 1. Union Government Pushes Fiscal Discipline Ahead of Union Budget 2026 The Union Ministry of Finance reaffirmed commitment to fiscal consolidation with a medium-term target to reduce the fiscal deficit below 4.5% of GDP by FY 2026–27. Capital expenditure allocation for infrastructure is expected to remain above ₹11 lakh crore, focusing on railways,…
Q1. Which state government is expected to announce its final decision on the restoration of the Old Pension Scheme (OPS) on 3 January 2026? A) KeralaB) KarnatakaC) Tamil NaduD) Andhra Pradesh Correct Answer: C) Tamil Nadu Q2. Which of the following airlines received a No Objection Certificate (NOC) from the Government of India to start…
Q1. According to RBI stress tests released in January 2026, what is the projected Gross NPA ratio of Indian banks by March 2027? A. 2.9%B. 2.5%C. 1.9%D. 1.5% Correct Answer: C. 1.9% Q2. Which category of financial institutions has been highlighted by RBI as facing rising asset-quality risks in 2026? A. Cooperative BanksB. Microfinance InstitutionsC….
Q1. According to the RBI’s Financial Stability assessment, what is the major systemic risk highlighted for the Indian financial sector in 2026? A. Rising inflation in rural marketsB. High exposure of banks to agriculture loansC. Tight financial linkages between banks and NBFCsD. Decline in foreign direct investment Correct Answer: C. Tight financial linkages between banks…
National Affairs (India) Union Government Reviews Economic Performance of FY 2025 India’s GDP growth for FY 2024–25 projected at 7.1%, driven by manufacturing, infrastructure spending, and domestic consumption. Gross Tax Revenue crossed ₹34.8 lakh crore, reflecting improved GST and direct tax compliance. Fiscal deficit contained at 5.6% of GDP, aligning with medium-term fiscal consolidation targets….
Q1. As of December 2025, India’s gross tax collections crossed which of the following figures? A. ₹21.5 lakh croreB. ₹22.9 lakh croreC. ₹23.8 lakh croreD. ₹25.2 lakh crore Correct Answer: C. ₹23.8 lakh crore Q2. By November 2025, UPI recorded more than how many transactions in a single month? A. 12 billionB. 13.5 billionC. 15…
National Affairs (India) Union Government Reviews FY 2025–26 Fiscal Position Gross tax collections crossed ₹23.8 lakh crore by December 2025, reflecting a year-on-year growth of approximately 13%. Direct tax collections contributed over 55% of total tax revenue, indicating improved compliance and widening of the tax base. Fiscal deficit stood close to 58% of the Budget…
National Affairs (India) Union Government Reviews Fiscal Consolidation Roadmap The Ministry of Finance reaffirmed its commitment to reduce the fiscal deficit to below 4.5% of GDP by FY 2026. Gross tax revenue collection for FY 2025–26 (till November 2025) crossed ₹21.4 lakh crore, reflecting steady growth in GST and direct taxes. Capital expenditure focus remains…
National Affairs The Union Government of India approved the Phase-II expansion of the PM Gati Shakti National Master Plan, integrating additional 14 infrastructure ministries, raising the total to 44 ministries for unified logistics planning. The Ministry of Rural Development reported that over 9.25 crore households have been provided employment under MGNREGA during FY 2025–26 so…
National Affairs (India) The Government of India approved the National Digital Agriculture Mission (NDAM) Expansion Phase with an additional outlay of ₹9,800 crore, aiming to onboard 6 crore farmers onto AI-based advisory platforms by 2027. The Ministry of Road Transport and Highways inaugurated 12 new National Highway stretches across Uttar Pradesh, Madhya Pradesh, and Maharashtra,…
