Answer: A

Explanation:

Statement 1 is correct: The SME Growth Fund provides patient, growth-oriented equity capital to fill a structural gap in equity financing for scaling-up SMEs, moving away from a traditional debt-heavy or loan-based approach.

Statement 2 is correct: The government’s commitment of ₹10,000 crore will be channeled through an Alternative Investment Fund (AIF) framework set up under SEBI guidelines.

Statement 3 is incorrect: The fund targets small and medium enterprises (not just micro/small) across manufacturing, services, technology, and innovation, with a strong focus on balanced regional development across Tier II and Tier III cities (and industrial clusters), rather than being restricted to metropolitan areas.

Answer: D

Explanation:

Statement 1 is correct: Under the revised MSME classification guidelines, the government eliminated the distinction between the manufacturing and services sectors, implementing a composite criteria of investment and annual turnover for both.

Statement 2 is correct: The threshold parameters for a micro enterprise are defined as investment in plant and machinery or equipment not exceeding ₹2.5 crore and annual turnover not exceeding ₹10 crore.

Statement 3 is correct: MSMEs are structural drivers of India's international trade, accounting for approximately 48.58% of India's total exports, which validates the statement of being more than 45%.

Answer: D

Explanation:

Statement 1 is correct: In October 2026, the six-member MPC chaired by RBI Governor Sanjay Malhotra unanimously decided to hike the policy repo rate by 25 basis points from 5.25% to 5.50%. This marked the first repo rate hike by the RBI since February 2023.

Statement 2 is correct: The MPC shifted its overarching monetary policy stance from 'neutral' to 'calibrated tightening' to signal a more proactive and firmer response against persistent retail inflation pressures (such as inflation ticking up to 4.82% in August 2026).

Statement 3 is correct: With the repo rate at 5.50%, the corridor adjustment placed the Standing Deposit Facility (SDF) rate at 5.25%, while both the Marginal Standing Facility (MSF) rate and the Bank Rate were adjusted to 5.75%.

Answer: A

Explanation:

Statement 1 is correct: In the October 2026 policy review, the RBI projected Consumer Price Index (CPI) inflation for 2026-27 at 5.2% (revised up from the earlier 5.0%), driven by elevated crude oil prices, geopolitical disruptions in West Asia, and persistent food and core price pressures.

Statement 2 is correct: Despite tightening monetary conditions, the RBI revised its real GDP growth projection for 2026-27 upward by 40 basis points to 7.1%, noting that domestic economic activity remained resilient.

Statement 3 is incorrect: The rate hike was not due to stagnation or deflation. Instead, it was a pre-emptive and reactive tightening cycle triggered by rising retail inflation (surpassing comfort levels), global commodity/crude headwinds, external sector pressures, and synchronized global tightening trends.

Answer: C

Explanation:

Statement 1 is incorrect: The Supreme Court noted that the ECI is a multi-member constitutional body and decisions must adhere to the prescribed statutory and institutional decision-making process. Unilateral actions taken outside the majority or consensus framework by the CEC can be legally challenged and potentially annulled by the courts.

Statement 2 is correct: Form 6 is used by eligible citizens to apply for inclusion in electoral rolls. It operates under the statutory framework of the Representation of the People Act, 1950 and the Registration of Electors Rules, 1960 (framed under Section 28 of the Act after consulting the ECI).

Statement 3 is correct: The Chief Election Commissioner and Other Election Commissioners Act, 2023 provides for collective decision-making and a prescribed majority mechanism to resolve differences of opinion among the CEC and other Election Commissioners.

Answer: B

Explanation:

Statement 1 is incorrect: The Union Cabinet approved the setting up of ITLA as a Special Purpose Vehicle (SPV) and an apex institutional mechanism, rather than a statutory body created directly through an Act of Parliament.

Statement 2 is correct: ITLA will formulate a comprehensive National Transport Master Plan with a planning horizon of 10 years or more, encompassing roads, railways, ports and shipping, civil aviation, inland waterways, coastal shipping, urban mobility, and logistics.

Statement 3 is incorrect: ITLA will exclusively undertake the technical appraisal of Government infrastructure projects costing ₹500 crore or more, whereas the financial appraisal will continue to be handled through existing mechanisms.