MCQs 2026

The International Monetary Fund (IMF) is a key international organization that regularly publishes economic forecasts, including GDP growth projections for various countries like India, as part of its World Economic Outlook reports.

The expenditure method of calculating GDP includes Consumption (C), Investment (I), Government Spending (G), and Net Exports (X-M). Government final consumption expenditure falls under 'G'.

In India, the fiscal year (FY) runs from April 1st to March 31st. Therefore, FY27 refers to the period from April 1, 2026, to March 31, 2027.

Schemes to boost MSME exports typically focus on addressing their specific challenges, such as providing easier access to credit, offering credit guarantees, and supporting market development activities like participation in international trade fairs and market research.

The Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce & Industry, is the nodal agency responsible for formulating and implementing the Foreign Trade Policy (FTP) and related procedures to promote exports and regulate imports.

MSMEs often struggle with limited access to affordable export finance, lack of awareness about international markets, and complex export procedures, which hinder their ability to compete globally.

The Repo Rate is the rate at which commercial banks borrow money from the RBI. An increase in the Repo Rate directly makes borrowing more expensive for commercial banks, which in turn can lead to higher lending rates for consumers and businesses.

The Cash Reserve Ratio (CRR) is a quantitative tool where commercial banks are required to keep a certain percentage of their net demand and time liabilities as reserves with the RBI, directly impacting the liquidity available for lending.

The primary objective of the MPC, as per the RBI Act, 1934, is to maintain price stability while keeping in mind the objective of growth. This is achieved by targeting a specific inflation rate.

Recognizing the growing digital landscape, India and ASEAN agreed to form a joint working group to address cybersecurity threats and enhance digital cooperation in 2026.