Answer: (B)
Industrial Outlook Survey (IOS)
 Conducted by the Reserve Bank of India (RBI).
 A quarterly, forward-looking survey of the manufacturing sector.
 Assesses business sentiment on production, order books, capacity utilisation,
employment, prices, and financial conditions.
 Based on qualitative responses from manufacturing firms.
 Used by the RBI as an input for monetary policy formulation. Hence, statement 1 is
correct.
Consumer Confidence Survey (CCS)
 Conducted by the Reserve Bank of India (RBI).
 A periodic (usually bi-monthly) survey of households.
 Captures perceptions on economic conditions, inflation, income, employment, and
spending.
 Generates indices such as Current Situation Index (CSI) and Future Expectations Index
(FEI).
 Helps RBI assess consumption demand and inflation expectations. Hence, statement 2
is correct.
Annual Survey of Industries (ASI)
 Conducted by the National Statistical Office (NSO) under MoSPI.
 An annual statutory survey of registered manufacturing units.
 Provides quantitative data on output, input, employment, investment, and value added.
 Covers the entire organised manufacturing sector.
 Serves as the primary source of official industrial statistics for policy and national
accounts. Hence, statement 3 is incorrect. Therefore, option B is the correct
answer

Which of the following is not covered under the provisions of the Right to Information (RTI)
Act, 2005?
CARES Fund)
National Disaster Response Fund (NDRF)
1. The Prime Ministers Citizen Assistance and Relief in Emergency Situations Fund (PM
2. 3. 4. Prime Minister's National Relief Fund (PMNRF)
National Defence Fund in India

Answer: (C)
PM CARES Fund is a charitable trust and has been stated by the Government that it is not
substantially financed by the Consolidated Fund of India. Hence, it does not fall within the
definition of a public authority under Section 2(h) of the RTI Act. Hence, statement 1 is
correct.
National Disaster Response Fund (NDRF) is a statutory fund created under the Disaster
Management Act, 2005, financed by the Government and audited by the CAG, therefore it is
subject to RTI. Hence, statement 2 is Incorrect.
PMNRF is based on voluntary contributions and is not a statutory body nor substantially
financed by the Government. Hence, statement 3 is correct.
National Defence Fund is also funded through voluntary public donations and does not
qualify as a public authority under the RTI Act. Hence, statement 4 is correct. Hence, option
C is the correct answer

With reference to the Prime Minister’s Employment Generation Programme (PMEGP), consider
the following statements:
1. It is a credit-linked subsidy programme aimed at generating self-employment
opportunities through micro-enterprises.
2. The Khadi and Village Industries Commission (KVIC) is the implementing agency for
this programme.

Answer: (C)
While the PMEGP is indeed a credit-linked subsidy programme for self-employment, it targets
the establishment of micro-enterprises in the non-farm sector. The goal is to help traditional
artisans and unemployed youth set up small-scale units. Statement 1 is correct.
The Khadi and Village Industries Commission (KVIC) is the single nodal agency at the
national level for implementing the scheme. At the state level, it is implemented through State
KVIC Directorates, State Khadi and Village Industries Boards (KVIBs), District Industries
Centres (DICs), and banks. Statement 2 is Corre

Consider the following statements regarding Gravitational Waves:
1. 2. 3. Light is unaffected by gravity because photons have no mass.
Gravity affects the passage of time.
The strength of gravity increases as the distance between two objects incr

Answer: (A)
Light is affected by gravity.
According to General Relativity, gravity bends the path of light (gravitational lensing) and
affects its frequency (gravitational redshift), even though photons have no rest mass. Hence,
statement 1 is incorrect.
Gravity affects the passage of time. This is known as gravitational time dilation, where time
runs slower in stronger gravitational fields. Hence, statement 2 is correct.
The strength of gravity decreases, not increases, as the distance between two objects increases
(inverse-square law). Hence, statement 3 is incorrect. Therefore, A is the right answe

1) Which one of the following best describes an Offer for Sale ?
(a) When an unlisted company issues new shares or sells its existing shares to the public
for the first time.
(b) When a listed company offers fresh shares or convertible securities, or sells existing
shares, to the public.
(c) It allows company promoters to sell their shares directly to investors, without the
company raising new capital.
(d) A company purchases its own shares from shareholders, reducing its outstanding
shares.

1) Answer: (C)
Offer For Sale (OFS) is a simpler method of sale of shares through the exchange platform for
listed companies. The mechanism was first introduced by SEBI in 2012, to make it easier for
promoters of publicly-traded companies to cut their holdings and comply with the minimum
public shareholding (MPS) norms. The method was largely adopted by listed companies, both
state-run and private, to adhere to the SEBI norms of minimum public shareholding.
Initial Public Offer (IPO): When an unlisted company makes either a fresh issue of shares or
convertible securities or offers its existing shares or convertible securities for sale or both for
the first time to the public, it is called an IPO. This paves way for listing and trading of the
issuer's shares or convertible securities on the Stock Exchanges.
Further Public Offer (FPO): When an already listed company makes either a fresh issue of
shares or convertible securities to the public or an offer for sale to the public, it is called FPO.
Buyback of Shares: Buyback is the repurchase by a company of its shares from the existing
shareholders that reduces the number of its shares in the open market. Companies buy back
their shares for a number of reasons:
i. To increase the value of shares held by promoters.
ii. To eliminate any threats by minority shareholders who may be looking for a controlling
stake.
iii. For CPSEs, buyback is a tool for Govt. of India to disinvest the equity held by GoI in
CPSEs and to make proper utilization of idle cash left with CPSEs

2) Consider the following statements:
1. Gold Exchange Traded Funds (ETFs) can be redeemed for physical gold by investors at
any time.
2. Chit funds in India fall under the Concurrent list of the Indian Constitution.
3. Equalisation Levy is an indirect tax imposed on non-resident digital service providers
offering specified services in India

Answer: (B)
 Gold ETFs generally cannot be redeemed for physical gold by retail investors at any
time. Redemption in physical form, if permitted, is usually allowed only in large
creation-unit sizes and primarily for institutional investors. Hence, statement 1 is
incorrect.
 Chit funds fall under the Concurrent List (Entry 7, List III – Contracts, including
partnership, agency, contracts of carriage, and other special forms of contracts).
Accordingly, Parliament enacted the Chit Funds Act, 1982, while states administer it
through the Registrar of Chits. Hence, statement 2 is correct.
 The Equalisation Levy is not an indirect tax. It is a special levy imposed on non-
resident digital service providers and is treated as a direct tax, though it is outside the
Income Tax Act framework. Hence, statement 3 is incorrect.
 Therefore, option B is the correct answe

Consider the following statements:
1. NRIs are permitted to purchase agricultural land and farmhouses in India.
2. NRIs can buy equity shares of Indian companies like Indian citizens, without any
restrictions

Answer: (D)
NRIs are allowed to purchase multiple residential or commercial properties in India without a
numerical restriction, NRIs are not permitted to purchase agricultural land, plantation
property, or farmhouses in India. They can acquire such property only through inheritance or
with specific RBI approval.. Hence, Statement 1 is incorrect.
NRIs can invest in equity shares of Indian companies in accordance with FEMA and SEBI
rules. Although NRIs can invest in equity shares of Indian companies, they cannot do so
without restrictions. Under the Union Budget 2026, the individual investment limit for a
person resident outside India (including NRIs) in listed Indian companies has been increased
from 5 % to 10 % of a company’s paid-up capital, and the aggregate limit for all such investors
has been raised from 10 % to 24 %, allowing them to take larger equity positions than before.
Hence, Statement 2 is incorrec

With reference to the National Human Rights Commission (NHRC) of India, consider the
following statements:
1. It is a statutory body constituted under a specific Act of Parliament,
2. The Chairperson of NHRC should be either a former Chief Justice of India or a former
Judge of the Supreme Court.
3. Its recommendations are binding on the government.
4. The National Human Rights Commission can visit prisons to examine inmates’
conditions and suggest corrective measures.