UPSC 2025 Economy PYQs with Answers

PM Surya Ghar targets one crore residential rooftop-solar installations and includes training/capacity building to create large skilled manpower for rooftop systems. All three statements are correct.

Among the listed countries, international merchant payments are accepted under UPI in the UAE, France and Singapore; they are not accepted in Germany and Bangladesh. Hence three countries apart from India.

RTGS settles in real time while NEFT works in batches/deferred settlement. Inward RTGS is not charged to customers and both systems are broadly available round the clock, so only statement I is correct.

IBRD lends and guarantees mainly to middle-income/creditworthy countries and was created to help rebuild Europe after World War II. It works as part of the World Bank Group, not single-handedly.

The 15th Finance Commission recommended education-outcome grants, agriculture-reform performance incentives, and reintroduced tax effort. It did not recommend 45% tax devolution; the share was 41%.

Gross primary deficit equals fiscal deficit minus interest liabilities: 50,000 - 1,500 = 48,500 crore.

Wet-bulb temperatures above 35 C threaten survival because perspiration cannot cool the body effectively; the report also implies severe climate risks such as floods, cyclones and droughts for India.

The United States produces more ethanol than Brazil, so Statement I is incorrect. Brazil primarily uses sugarcane whereas the US primarily uses corn.

INSTC connects India with Central Asia/Russia/Europe through Iran and onward routes.

Revenue deficit is 80,000 - 60,000 = 20,000 crore. Borrowings indicate fiscal deficit of 10,000 crore, and primary deficit is fiscal deficit minus interest payments = 4,000 crore.

Capital receipts either create liabilities or reduce assets; borrowings create liabilities and disinvestment reduces assets. Interest received is revenue receipt and does not create government liability.

Circular economy reduces raw-material use and waste, which in turn reduces emissions. Statements II and III both explain Statement I.

India has seen a very large share of global equity-options trading and its stock market has grown rapidly, briefly overtaking Hong Kong by market value. SEBI/regulators do warn and act against unregistered advisers, so statement III is incorrect.

Bondholders are lenders and have priority over shareholders in repayment, making them generally lower-risk than stockholders. Statements II and III both explain Statement I.

India joined the Minerals Security Partnership and the 2023 MMDR amendment empowered the Centre regarding auction of specified critical minerals. India is not resource-rich in all 30 identified critical minerals.

Allied activities such as poultry and wool rearing are not automatically exempt as agricultural income. Rural agricultural land is excluded from capital asset definition under the Income-tax Act, so Statement II alone is correct.

BRSR submission is mandated by SEBI for specified listed entities, not RBI. BRSR disclosures are largely ESG/non-financial in nature, so only Statement II is correct.

DRI (Customs Act enforcement) and the Directorate General of Systems and Data Management (big-data analytics for tax officers) are both correctly matched with the Department of Revenue. The Enforcement Directorate is also under the Department of Revenue, not MHA, so only two rows are correct.

RBI earns income from operations in government securities and foreign currency assets. It does not earn as a pension-fund manager or lender to private companies, and printing/distributing notes is a currency function rather than income source as listed.

Under SEBI rules, hedge funds and venture capital funds fall under Alternative Investment Funds. Ordinary bonds and listed stocks are conventional investment instruments, so only two are AIFs.