Explanation:
Base year revisions improve GDP and GVA estimation accuracy by incorporating new economic realities and consumption patterns.
MCQ 7 – GIFT IFSC Development
Q7. The listing of foreign companies on NSE International Exchange (NSE IX) primarily promotes:
A) Agricultural exports
B) Offshore financial services growth
C) Direct tax reforms
D) Rural banking expansion
✅ Answer: B) Offshore financial services growth
Explanation:
GIFT IFSC is designed as an international financial hub, attracting global capital and cross-border listings.
MCQ 8 – Banking Regulation
Q8. RBI approval for acquisition of up to 99% stake in a private bank highlights:
A) Deregulation of banking
B) Banking sector consolidation under regulatory supervision
C) Nationalisation of banks
D) Abolition of private banks
✅ Answer: B) Banking sector consolidation under regulatory supervision
Explanation:
Major stake acquisitions require RBI approval to maintain financial stability and regulatory oversight.
MCQ 9 – Innovation Governance
Q9. State Innovation Missions (SIMs) primarily aim to:
A) Centralise startup regulation
B) Promote decentralised innovation ecosystems
C) Increase GST collection
D) Replace NITI Aayog
✅ Answer: B) Promote decentralised innovation ecosystems
Explanation:
SIMs encourage state-level innovation policies aligned with local economic strengths.
MCQ 10 – Sports Achievement
Q10. Jammu & Kashmir’s recent Ranji Trophy victory is significant because:
A) It was their second consecutive title
B) It marked their first-ever final appearance and title win
C) It ended a 50-year drought
D) It was a T20 format championship
✅ Answer: B) It marked their first-ever final appearance and title win
Explanation:
J&K scripted history by winning the Ranji Trophy in their maiden final appearance.
MCQ 11 – Important Days
Q11. World Civil Defence Day (March 1) primarily focuses on:
A) Environmental conservation
B) Disaster preparedness and emergency response
C) Nuclear disarmament
D) Climate negotiations
✅ Answer: B) Disaster preparedness and emergency response
Explanation:
The day promotes awareness about civil protection systems and disaster response mechanisms.
MCQ 12 – Social Awareness
Q12. Zero Discrimination Day (March 1) is globally observed to promote:
A) Digital inclusion
B) Financial literacy
C) Equality and non-discrimination
D) Climate justice
✅ Answer: C) Equality and non-discrimination
Month: Current Affairs - March 02, 2026
Category: