MCQs on Economy & Business Current Affairs (Aug 2026)

1.

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

2.

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)

3.

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

4.

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

5.

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

6.

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

Economy & Business MCQs - 2026-08-09