Economy & Business MCQs - 2026-07-29

The initiative aims to significantly boost renewable energy capacity, targeting to achieve 50% share in the country's total energy mix by the year 2030.

The Ministry of New and Renewable Energy (MNRE) was the lead ministry in announcing and formulating this significant investment plan for the renewable energy sector.

The government announced a major investment initiative of $120 billion in the renewable energy sector in July 2026, focusing on expanding solar and wind energy capacities.

The international agency revised India's GDP growth forecast for FY 2026-27 upwards by 10 basis points in its July 2026 update, from 6.7% to 6.8%.

The international agency attributed the upward revision to stronger-than-expected domestic demand, particularly in consumption, and a sustained momentum in manufacturing.

The International Monetary Fund (IMF), in its July 2026 World Economic Outlook update, projected India's GDP growth at 6.8% for the fiscal year 2026-27.

The RBI's Monetary Policy Committee, in its July 2026 review, projected the GDP growth rate for FY 2026-27 at 7.5%.

The Monetary Policy Committee (MPC) is mandated to determine the policy repo rate required to meet the inflation target, while keeping in mind the objective of maintaining price stability, inter alia, while ensuring that the objective of growth is also taken into account.

As per the RBI's Monetary Policy Statement released in July 2026, the repo rate was kept unchanged at 6.50%.