Business, Economy & Banking Current Affairs MCQs

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Recently, the Union Cabinet chaired by the Prime Minister approved the establishment of the Startup India Fund of Funds 2.0 (Startup India FoF 2.0). The Fund has been launched under the Startup India initiative to promote innovation and entrepreneurship across the country. It aims to accelerate the next phase of India’s startup ecosystem by mobilising long-term domestic capital, strengthening the venture capital framework, and supporting innovation-led enterprises. The scheme adopts a targeted and segmented funding approach to support deep-tech and technology-driven innovative manufacturing sectors that require patient and long-term capital investment.

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L&T Finance Ltd has launched a specialised programme called “Spoorthi” for women entrepreneurs to provide targeted financial support. The programme offers extended loan tenors up to 25 years for house property loans or Loan Against Property (LAP) for business expansion and working capital. Industrial LAP tenors of up to 12 years are also available, with enhanced eligibility norms, including higher debt-to-income ratios for greater financial flexibility. L&T Finance aims to leverage women borrowers’ strong repayment discipline to scale businesses and secure personal assets, promoting an inclusive financial ecosystem.

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National Bank for Agriculture and Rural Development (NABARD), with Gates Foundation and Dalberg Advisors, launched the National Climate Stack Innovation Challenge to strengthen India’s rural climate resilience. The initiative aims to build a National Climate Stack, integrating fragmented climate datasets into a unified digital platform. It will develop 10–15 year climate hazard forecasting frameworks for risks like heatwaves, floods, droughts, and cyclones affecting agriculture. The project will also create practical dashboards for agriculture, rural finance, and public planning decisions.

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National Mineral Development Corporation (NMDC) Limited became the first mining company in India to produce 50 million tonnes of iron ore in a single financial year (2025–26). NMDC Limited is a Navratna Central Public Sector Enterprise (CPSE) under the Ministry of Steel. It is the largest producer of iron ore in India and a key organisation for mineral resource development. Its aim is to explore, develop, and sustainably use mineral resources in India. It also ensures stable domestic supply of iron ore for the steel industry. NMDC supports India’s goal to expand steel production capacity to 300 million tonnes by 2030.

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Ministry of Statistics and Programme Implementation (MoSPI) released a new Gross Domestic Product (GDP) data series with base year 2022–23, replacing 2011–12. GDP data is crucial for economic policymaking, fiscal planning, investment decisions, and overall macroeconomic analysis in India. The new series includes updated methodologies and improved data collection techniques. Despite improvements, concerns remain over large statistical discrepancies in the data. Questions have also been raised about the accuracy and credibility of real GDP growth estimates.

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Tamil Nadu has become India’s top textile-exporting state, with shipments worth USD 7,997.17 million in 2024-25, a 29.12% increase over the last four years. In 2020-21, Tamil Nadu’s textile exports were USD 6,193 million, showing consistent growth under the Dravidian Model government, led by Chief Minister M. K. Stalin. The state now contributes 21.84% of India’s total textile exports, outpacing Gujarat (USD 5,646.01 million) and Maharashtra (USD 3,831.29 million). Data is reported through the National Import-Export Record for Yearly Analysis of Trade, providing real-time comprehensive foreign trade data.

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Project Insight (PI) is an AI-driven tax administration system in India that tracks financial transactions and detects tax evasion. It is implemented by the Income Tax Department (ITD), Ministry of Finance, Government of India. It aims to enhance voluntary tax compliance by nudging taxpayers to report accurate income and strengthen tax enforcement by identifying high-risk evasion cases.

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Annual Survey of Unincorporated Sector Enterprises (ASUSE) 2025 results released for January–December 2025 period. It is conducted by National Statistical Office (NSO) under Ministry of Statistics and Programme Implementation (MoSPI). The purpose is to provide inputs for Gross Domestic Product (GDP) estimation and National Accounts. It covers unincorporated non-agricultural sector, including manufacturing, trade, and services. Tracks key indicators like employment, Gross Value Added (GVA), wages, and digital usage. It helps in understanding the informal economy and Micro, Small and Medium Enterprises (MSMEs) sector.

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National Highways Authority of India (NHAI) launched its first public Infrastructure Investment Trust (InvIT), now listed on the Bombay Stock Exchange (BSE). InvIT (Infrastructure Investment Trust) is an investment vehicle similar to mutual funds/Real Estate Investment Trusts (REITs) for infrastructure assets. It allows investors to directly invest in infrastructure projects like highways. InvITs pool funds from investors, list on stock exchanges, and distribute income to unit holders. InvITs are regulated by Securities and Exchange Board of India (SEBI) under InvIT Regulations, 2014.

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The Union Minister highlighted 10 years of Bureau of Indian Standards (BIS) and its role in ensuring quality and standardisation in India. BIS (Bureau of Indian Standards) is the national standards body, established under the BIS Act, 2016. Earlier, it functioned under the BIS Act, 1986, evolved from the Indian Standards Institution (ISI), 1947. The headquarter is located in New Delhi.