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Daily-mcqs 05 Jan 2026

Current Affairs MCQs for UPSC & State PSC Exams 05 Jan 2026

Current Affairs MCQs for UPSC & State PSC Exams

Q1:

With reference to the Export Promotion Mission (EPM), consider the following statements:

1.   It aims to replace multiple fragmented export promotion schemes with a unified, outcome-based mechanism.

2.   It focuses exclusively on merchandise exports and excludes services.

3.   It is designed as a digitally driven system to address structural bottlenecks in exports.

Which of the statements given above are correct?

A: 1 and 2 only

B: 1 and 3 only

C: 2 and 3 only

D: 1, 2, and 3

Show

Answer: B

Explanation:

Statement 1 is correct: EPM replaces fragmented schemes with a single, outcome-based mechanism.

Statement 2 is incorrect: The mission does not limit itself exclusively to merchandise exports; it broadly addresses export ecosystem bottlenecks.

Statement 3 is correct: EPM is explicitly described as digitally driven to improve transparency and efficiency.

Q2:

Consider the following statements regarding the Collateral Support for Export Credit under EPM:

1.   It is implemented in partnership with the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).

2.   It provides higher guarantee coverage to micro and small exporters than to medium exporters.

3.   The maximum guarantee coverage is uniform across all exporter categories.

Which of the statements given above are correct?

A: 1 and 2 only

B: 2 only

C: 2 and 3 only

D: 1, 2, and 3

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Answer: A

Explanation:

Statement 1 is correct: The scheme is implemented with CGTMSE.

Statement 2 is correct: Guarantee coverage is up to 85% for micro and small exporters and 65% for medium exporters.

Statement 3 is incorrect: Coverage is not uniform; it varies by exporter category.

Q3:

With reference to cheating and financial fraud in India in 2025, consider the following statements:

1.   The total monetary loss due to cheating and financial fraud exceeded ₹19,000 crore.

2.   More than 20 lakh complaints were registered on the National Cyber Crime Reporting Portal.

3.   Fraudulent investment schemes accounted for more than half of the total monetary losses.

Which of the statements given above are correct?

A: 1 and 2 only

B: 1 and 3 only

C: 2 and 3 only

D: 1, 2, and 3

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Answer: D

Explanation:

Statement 1 is correct: Total losses were ₹19,812.96 crore, exceeding ₹19,000 crore.

Statement 2 is correct: Over 21.7 lakh complaints were recorded on the portal.

Statement 3 is correct: Fraudulent investment schemes alone accounted for about 77% of total monetary losses, well above half.

Q4:

With reference to the Electronics Components Manufacturing Scheme (ECMS), consider the following statements:

1.   It was launched in April 2025 by the Ministry of Electronics and Information Technology.

2.   It is a production-linked incentive (PLI)–style scheme.

3.   It focuses exclusively on finished electronic products and excludes components.

Which of the statements given above are correct?

A: 1 and 2 only

B: 1 and 3 only

C: 2 and 3 only

D: 1, 2, and 3

Show

Answer: A

Explanation:

Statement 1 is correct: ECMS was launched in April 2025 by MeitY.

Statement 2 is correct: It is explicitly a PLI-style scheme.

Statement 3 is incorrect: ECMS focuses primarily on electronic components and parts, not finished products.

Q5:

With reference to the Carbon Border Adjustment Mechanism (CBAM), consider the following statements:

1.   CBAM seeks to impose a carbon price on imports equivalent to the price paid by EU producers under the Emissions Trading System (ETS).

2.   CBAM applies only to finished goods and excludes intermediate products.

3.   The primary objective of CBAM is to prevent carbon leakage.

Which of the statements given above is/are correct?

A: 1 and 2 only

B: 1 and 3 only

C: 2 and 3 only

D: 1, 2, and 3

Show

Answer: B

Explanation:

Statement 1 – Correct: CBAM extends the EU’s carbon pricing (ETS) to imports to ensure parity between domestic and foreign producers.

Statement 2 – Incorrect: CBAM applies to specific sectors and products, including intermediate goods like steel and aluminium.

Statement 3 – Correct: The core rationale is to prevent carbon leakage, where production shifts to countries with weaker climate regulations.