Which of the following is included in India’s GDP?
Anonymous Quiz
9%
A. Transfer payments
11%
B. Sale of second-hand goods
77%
C. Government expenditure on salaries
3%
D. Purchase of shares
Per capita income is calculated as:
Anonymous Quiz
71%
A. National income ÷ Population
9%
B. GDP ÷ Working population
17%
C. Net National Product ÷ Total area
3%
D. Gross Domestic Product ÷ Labour force
Which institution estimates National Income in India?
Anonymous Quiz
9%
A. Reserve Bank of India
23%
B. Ministry of Finance
6%
C. NITI Aayog
63%
D. National Statistical Office
Repo rate is the rate at which:
Anonymous Quiz
54%
A. RBI lends to commercial banks
23%
B. Banks lend to RBI
17%
C. Banks lend to customers
6%
D. Government borrows from RBI
Which of the following is a direct tax?
Anonymous Quiz
18%
A. GST
20%
B. Customs Duty
63%
C. Income Tax
0%
D. Excise Duty
CURRENT AFFAIRS – 9 FEBRUARY (AIR / PIB)
1️⃣ Aadhaar Biometric Update Drive for Children
News:
UIDAI has completed 1 crore+ biometric updates for children aged 5–15 years under a nationwide mission.
Why Important:
Strengthens Digital Public Infrastructure (DPI)
Prevents exclusion from welfare schemes linked with Aadhaar
Free biometric update till Sept 2026
UPSC Angle:
GS 2: Governance, e-governance, service delivery
Prelims: Aadhaar lifecycle, UIDAI functions
2️⃣ India to Host Global AI Impact Summit 2026
News:
India announced hosting of AI Impact Summit 2026, first major AI summit in the Global South.
Key Themes (“Seven Chakras”):
Human Capital
Inclusive AI
Safe & Trusted AI
Innovation & Resilience
Science & Research
Democratization of AI resources
Economic & Social Impact
UPSC Angle:
GS 2: Global governance, tech diplomacy
GS 3: Emerging technologies, ethics of AI
Essay: AI for inclusive development
3️⃣ Union Budget 2026–27 – Key PIB Takeaways
News:
Government emphasized growth with fiscal discipline.
Key Points:
Fiscal Deficit target: ~4.3% of GDP
Continued push for capital expenditure (infrastructure)
Major income-tax relief for middle class
Focus on manufacturing, innovation & green growth
UPSC Angle:
GS 3: Indian economy, fiscal policy
Prelims: Deficit, CapEx, revenue vs capital expenditure
4️⃣ Government Focus on Market-Friendly Borrowing
News:
Centre reaffirmed commitment to non-disruptive borrowing strategy despite high capital spending.
Why Important:
Maintains macro-economic stability
Keeps inflation & bond yields in check
UPSC Angle:
GS 3: Public finance, debt management
Prelims: Fiscal consolidation concepts.
1️⃣ Aadhaar Biometric Update Drive for Children
News:
UIDAI has completed 1 crore+ biometric updates for children aged 5–15 years under a nationwide mission.
Why Important:
Strengthens Digital Public Infrastructure (DPI)
Prevents exclusion from welfare schemes linked with Aadhaar
Free biometric update till Sept 2026
UPSC Angle:
GS 2: Governance, e-governance, service delivery
Prelims: Aadhaar lifecycle, UIDAI functions
2️⃣ India to Host Global AI Impact Summit 2026
News:
India announced hosting of AI Impact Summit 2026, first major AI summit in the Global South.
Key Themes (“Seven Chakras”):
Human Capital
Inclusive AI
Safe & Trusted AI
Innovation & Resilience
Science & Research
Democratization of AI resources
Economic & Social Impact
UPSC Angle:
GS 2: Global governance, tech diplomacy
GS 3: Emerging technologies, ethics of AI
Essay: AI for inclusive development
3️⃣ Union Budget 2026–27 – Key PIB Takeaways
News:
Government emphasized growth with fiscal discipline.
Key Points:
Fiscal Deficit target: ~4.3% of GDP
Continued push for capital expenditure (infrastructure)
Major income-tax relief for middle class
Focus on manufacturing, innovation & green growth
UPSC Angle:
GS 3: Indian economy, fiscal policy
Prelims: Deficit, CapEx, revenue vs capital expenditure
4️⃣ Government Focus on Market-Friendly Borrowing
News:
Centre reaffirmed commitment to non-disruptive borrowing strategy despite high capital spending.
Why Important:
Maintains macro-economic stability
Keeps inflation & bond yields in check
UPSC Angle:
GS 3: Public finance, debt management
Prelims: Fiscal consolidation concepts.
👏1
F2S IAS ACADEMY
Learn through MCQs Topic: Economy key concepts👇
LEARN through MCQs
Continuation ....👇
Continuation ....👇
Net National Income (NNI) is obtained by:
Anonymous Quiz
14%
A. GDP – Depreciation
49%
B. GNP – Depreciation
35%
C. NNP at factor cost + Indirect taxes
3%
D. GDP + Net factor income from abroad
Balance of Payments (BoP) records:
Anonymous Quiz
6%
A. Only trade in goods
6%
B. Only foreign investments
84%
C. Economic transactions between residents and rest of the world
3%
D. Government transactions only
Current Account includes:
1.Trade in goods
2.Trade in services 3.Foreign direct investment Which are correct?
1.Trade in goods
2.Trade in services 3.Foreign direct investment Which are correct?
Anonymous Quiz
48%
A. 1 and 2 only
15%
B. 2 and 3 only
6%
C. 1 only
30%
D. 1, 2 and 3
Which of the following best describes stagflation?
Anonymous Quiz
9%
A. High growth and low inflation
57%
B. Low growth and high inflation
17%
C. High growth and high inflation
17%
D. Low growth and deflation
Disinvestment refers to:
Anonymous Quiz
0%
A. Closure of PSUs
25%
B. Transfer of management to private sector
75%
C. Sale of government equity in PSUs
0%
D. Merger of PSUs