Economy and Business MCQs: July 2026 Current Affairs Practice

21.

In the Monetary Policy Statement of July 2026, what was the repo rate maintained by the Reserve Bank of India (RBI)?

A 6.50%

B 6.75%

C 6.25%

D 6.00%

22.

What is a likely immediate implication of the RBI maintaining a status quo on key policy rates in July 2026 for commercial banks?

A Stable lending and borrowing rates for banks

B A significant increase in the cost of funds for banks

C Mandatory reduction in interest rates on deposits

D Direct intervention in stock market operations

23.

Which body within the Reserve Bank of India is responsible for deciding on the key policy rates, such as the Repo Rate, in July 2026?

A Monetary Policy Committee (MPC)

B Central Board of Directors

C Financial Stability and Development Council (FSDC)

D Department of Economic and Policy Research (DEPR)

24.

The Reserve Bank of India (RBI) maintaining a status quo on key policy rates in July 2026 primarily indicates its focus on which of the following?

A Managing inflation within the target band

B Stimulating immediate economic growth at any cost

C Increasing government borrowing

D Devaluing the Indian Rupee

25.

A key international agency's projection for India's GDP growth in 2026, often cited in economic reports, would typically highlight which of the following?

A India as the fastest-growing major economy

B A significant contraction due to global slowdown

C Dependence solely on agricultural output

D A decline in foreign direct investment (FDI)

26.

Which government initiative is likely to play a crucial role in boosting India's manufacturing output and contributing to GDP growth in 2026?

A Production Linked Incentive (PLI) schemes

B Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA)

C National Food Security Act (NFSA)

D Pradhan Mantri Jan Dhan Yojana (PMJDY)

27.

What is a primary factor expected to drive India's strong GDP growth in 2026?

A Robust domestic consumption and investment

B Significant decline in global crude oil prices

C Stagnation in the manufacturing sector

D Decrease in government capital expenditure

28.

The 'Global Market Access Initiative' is expected to provide support in areas such as:

A Only financial assistance and subsidies.

B Market intelligence, trade facilitation, and regulatory support.

C Domestic infrastructure development only.

D Skill development for non-exporting industries.

29.

Which ministry is typically responsible for launching and overseeing export promotion schemes in India?

A Ministry of Finance

B Ministry of Commerce and Industry

C Ministry of External Affairs

D Ministry of Home Affairs

30.

The Indian government has launched a new export promotion scheme named 'Global Market Access Initiative' in early 2026. What is its primary objective?

A To provide subsidies to domestic manufacturers.

B To facilitate access for Indian goods and services to international markets.

C To reduce import duties on essential goods.

D To promote tourism within India.

Economy & Business MCQs