Economy & Business MCQs

PLI schemes are instrumental in boosting domestic manufacturing of key components for renewable energy and green hydrogen production, such as electrolyzers and solar panels.

Sectors like steel and cement, which require high temperatures and are difficult to decarbonize with electrification alone, are prime candidates for using green hydrogen as a clean fuel.

The National Green Hydrogen Mission aims to make India a global leader in the production and export of green hydrogen, a clean energy alternative.

CBDCs have the potential to streamline cross-border payments by reducing the need for intermediaries, thereby lowering transaction costs and accelerating settlement times.

The Reserve Bank of India (RBI) is the central bank responsible for the development, issuance, and piloting of the Digital Rupee (e-INR).

Programmable money allows for the embedding of specific conditions or rules into the digital currency, enabling its use for targeted purposes like direct benefit transfers or specific policy implementations.

The expanded pilot is exploring advanced use cases like programmable money for targeted subsidies, cross-border payments, and integration with tokenized assets, going beyond basic retail transactions.

The e-INR is designed to be a digital form of fiat currency, complementing existing payment methods and improving the overall efficiency and accessibility of the payment system, not to replace cash entirely or facilitate speculation.

A dovish monetary policy stance generally involves lower interest rates and increased money supply, which encourages borrowing, credit growth, and investment, thereby supporting economic expansion.

As of April 4, 2026, leading financial institutions have revised India's GDP growth projections for FY27 upwards to a range of 7.5% to 8.2%.