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Daily Current Affairs
27 & 28 April, 2025
1. Which Indian state recently announced the establishment of a Makhana Board to promote Makhana cultivation and exports?​
- A) Uttar Pradesh
- B) Bihar
- C) Madhya Pradesh
- D) West Bengal
- E) Odisha
Answer: B) Bihar Explanation: In the 2025 Union Budget, the Indian government announced the establishment of a Makhana Board in Bihar to promote Makhana (fox nut) cultivation and exports, recognizing the state’s significant contribution to Makhana production.
2. What is the name of the new tax regime introduced in the 2025 Union Budget that exempts income up to ₹12 lakh from income tax?​
- A) Simplified Tax Regime
- B) New Income Tax Bill
- C) Zero Tax Regime
- D) Revised Tax Code
- E) Income Tax Reform Act
Answer: B) New Income Tax Bill Explanation: The 2025 Union Budget introduced the New Income Tax Bill, which exempts individuals earning up to â‚ą12 lakh annually from paying income tax, aiming to simplify the tax regime and reduce the compliance burden.
3. Which initiative was launched to provide enhanced credit through Kisan Credit Cards (KCC) to farmers, fishermen, and dairy farmers?​
- A) PM Kisan Samman Nidhi
- B) Atmanirbhar Krishi Yojana
- C) Prime Minister Dhan-Dhaanya Krishi Yojana
- D) National Agricultural Credit Scheme
- E) Rural Prosperity Mission
Answer: C) Prime Minister Dhan-Dhaanya Krishi Yojana Explanation: The Prime Minister Dhan-Dhaanya Krishi Yojana was launched to facilitate short-term loans of up to â‚ą5 lakh through Kisan Credit Cards (KCC) for 7.7 crore farmers, fishermen, and dairy farmers, enhancing credit accessibility in the agricultural sector.
4. What is the name of the digital currency introduced by the Reserve Bank of India (RBI)?​
- A) e-Rupee
- B) Digital Rupee
- C) Bharat Coin
- D) RBI Coin
- E) e-INR
Answer: E) e-INR Explanation: The Reserve Bank of India introduced the e-INR, a Central Bank Digital Currency (CBDC), aiming to digitize money, enhance payment system resilience, and reduce the costs associated with physical currency management.
5. Which cooperative bank was involved in a ₹122 crore scam leading to RBI-imposed withdrawal restrictions?​
- A) Colour Merchants Cooperative Bank
- B) Ajantha Urban Co-op Bank
- C) New India Cooperative Bank
- D) Banaras Mercantile Co-operative Bank
- E) Durga Co-operative Urban Bank
Answer: C) New India Cooperative Bank Explanation: The New India Cooperative Bank was involved in a â‚ą122 crore scam, where funds were misappropriated over six years. The RBI imposed withdrawal restrictions and superseded the bank’s board following the discovery.
6. What action did the RBI take in May 2025 to inject liquidity into the banking system?
- A) Reduced the repo rate by 50 basis points
- B) Purchased bonds worth â‚ą1.25 trillion
- C) Increased the Cash Reserve Ratio (CRR)
- D) Launched a new quantitative easing program
- E) Introduced a new long-term repo operation (LTRO)
Answer: B) Purchased bonds worth â‚ą1.25 trillion Explanation: In May 2025, the RBI announced plans to purchase bonds worth â‚ą1.25 trillion to inject liquidity into the banking system, effectively functioning as a rate cut by reducing short-term interest rates.
7. What is the revised GDP growth forecast for India in the fiscal year 2024-25 according to the RBI?​
- A) 6.7%
- B) 6.5%
- C) 6.3%
- D) 6.0%
- E) 5.8%
Answer: B) 6.5% Explanation: The RBI revised India’s GDP growth forecast for the fiscal year 2024-25 from 6.7% to 6.5%, citing stable inflation and moderate GDP growth as factors influencing the accommodative monetary policy stance.
8. What is the primary reason for the dimmed economic outlook of India as per the Reuters poll?​
- A) Rising inflation rates
- B) Decline in agricultural output
- C) Proposed U.S. tariffs on Indian goods
- D) Decrease in foreign direct investment
- E) Increase in unemployment rates
Answer: C) Proposed U.S. tariffs on Indian goods Explanation: The Reuters poll indicated that India’s economic growth outlook has dimmed due to proposed U.S. tariffs on Indian goods and persistently weak private investment, leading to a downgrade in GDP growth forecast from 6.5% to 6.3%.
9. What is the expected average consumer inflation rate for India in the fiscal year 2024-25?​
- A) 3.5%
- B) 4.0%
- C) 4.5%
- D) 5.0%
- E) 5.5%
Answer: B) 4.0% Explanation: Consumer inflation in India is expected to average 4.0% in the fiscal year 2024-25, aligning with the RBI’s target and providing room for accommodative monetary policies to support economic growth.
10. How is the favorable monsoon forecast expected to impact India’s economy?​
- A) Increase in food prices
- B) Decrease in agricultural output
- C) Stabilization of food prices and potential interest rate cuts
- D) Rise in unemployment rates
- E) Decline in export revenues
Answer: C) Stabilization of food prices and potential interest rate cuts Explanation: A favorable monsoon forecast, with rains approximately 5% above average, is expected to stabilize food prices and may allow for interest rate cuts to spur economic growth amid global uncertainties.
