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MCQs 2026

61.
Under the 'Global Market Access Initiative 2.0', which of the following activities would most likely receive government support to boost exports?
A Subsidizing raw material imports for domestic consumption
B Providing financial assistance for participation in international trade fairs and buyer-seller meets
C Regulating the prices of essential commodities in the domestic market
D Offering tax holidays for companies focused solely on domestic sales
62.
Which Union Ministry is primarily responsible for formulating and implementing schemes like the 'Global Market Access Initiative 2.0' to promote India's foreign trade?
A Ministry of Finance
B Ministry of External Affairs
C Ministry of Commerce & Industry
D Ministry of Micro, Small & Medium Enterprises (MSME)
63.
The Government of India has launched the 'Global Market Access Initiative 2.0' primarily with which of the following objectives?
A To increase imports of essential goods
B To boost India's exports by providing support for market diversification and promotion
C To regulate foreign direct investment (FDI) inflows
D To reduce the domestic consumption of goods
64.
Maintaining the repo rate at 6.25% amidst global pressures, as done by the RBI, typically aims to achieve which of the following outcomes in the domestic economy?
A Encourage higher borrowing and spending, potentially leading to increased inflation
B Signal stability and predictability, helping to anchor inflation expectations and support economic growth
C Directly increase the value of the Indian Rupee against major currencies
D Reduce the government's fiscal deficit immediately
65.
What does the term 'Repo Rate' primarily signify in the context of the Reserve Bank of India's monetary policy?
A The rate at which commercial banks lend money to the RBI
B The rate at which the RBI lends money to commercial banks against government securities
C The rate at which commercial banks lend money to each other
D The rate at which the RBI borrows from the government
66.
In the context of the Reserve Bank of India maintaining the repo rate at 6.25% amidst global pressures, what is the primary objective of the Monetary Policy Committee (MPC) in setting this rate?
A Maximizing government revenue
B Ensuring price stability while keeping growth in mind
C Promoting exports exclusively
D Managing foreign exchange reserves only
67.
The 2026 G7 Summit communiquΓ© emphasized the importance of upholding international law and the rules-based order. Which specific principle was highlighted as crucial for maintaining global peace and security?
A The principle of unilateral intervention in sovereign states.
B The principle of non-interference in the internal affairs of other nations.
C The principle of prioritizing economic interests over territorial integrity.
D The principle of revising established international borders by force.
68.
To bolster security cooperation, the G7 leaders at the 2026 Summit agreed to strengthen collaboration in which critical area to counter emerging threats?
A Space exploration and asteroid mining.
B Cybersecurity and combating disinformation campaigns.
C Artificial intelligence in agriculture.
D Global tourism promotion.
69.
During the 2026 G7 Summit, leaders expressed concerns over escalating geopolitical tensions in which specific region, leading to discussions on enhanced security cooperation?
A The Arctic region due to climate change impacts and resource competition.
B The Indo-Pacific region, citing concerns over maritime security and regional stability.
C Sub-Saharan Africa, focusing on internal conflicts and humanitarian crises.
D The Balkan Peninsula, due to historical ethnic disputes.
70.
A significant outcome of the 2026 G7 Summit regarding global economic stability was the commitment to reform which international financial institution to better address the needs of developing economies?
A World Trade Organization (WTO)
B International Monetary Fund (IMF)
C World Bank
D Bank for International Settlements (BIS)
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