MCQs on Current Affairs 01.02.2026

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Q1. The proposed Regional Medical Hubs under the Union Budget aim to achieve which of the following objectives?

  1. Promote India as a global destination for Medical Value Tourism
  2. Integrate medical services with education and research
  3. Generate employment for healthcare professionals
  4. Provide exclusively AYUSH-based healthcare services

Select the correct answer using the code given below:

  1. 1, 2 and 3 only
  2. 1 and 4 only
  3. 2 and 3 only
  4. 1, 2, 3 and 4

Correct Option: 1. 1, 2 and 3 only
Explanation:
• The Regional Medical Hubs are intended to position India as a preferred destination for Medical Value Tourism (Statement 1 is correct).
• These hubs are envisioned as integrated healthcare complexes, combining medical services, education and research under one umbrella (Statement 2 is correct).
• The hubs are also expected to create diverse employment opportunities for doctors and Allied Health Professionals (Statement 3 is correct).
• However, the hubs are not exclusively AYUSH-based; they include AYUSH Centres along with modern medical services and advanced infrastructure (Statement 4 is incorrect).

Q2. With reference to the initiatives announced for strengthening the AYUSH sector, consider the following statements:

  1. The Union Budget proposes the establishment of three new All India Institutes of Ayurveda.
  2. Upgradation of AYUSH Drug Testing Laboratories aims to improve quality standards and certification.
  3. The WHO Global Traditional Medicine Centre at Jamnagar focuses on clinical service delivery alone.

Which of the statements given above are correct?

  1. 1 and 2 only
  2. 1 and 3 only
  3. 2 and 3 only
  4. 1, 2 and 3

Correct Option: 1. 1 and 2 only
Explanation:
• The Budget announcement includes setting up three new All India Institutes of Ayurveda to expand education, clinical care and research (Statement 1 is correct).
• Upgradation of AYUSH pharmacies and Drug Testing Laboratories is aimed at ensuring higher standards of quality, certification, and skilled manpower (Statement 2 is correct).
• The WHO Global Traditional Medicine Centre, Jamnagar, is intended to strengthen evidence-based research, training and global awareness, not merely clinical service delivery (Statement 3 is incorrect).

Q3. ‘SHE-Mart’, as announced in the Union Budget, primarily aims to:

  1. Provide credit support to urban women startups
  2. Establish community-owned retail outlets for SHG products
  3. Promote export of women-led MSMEs
  4. Replace existing rural haats

Correct Option: 2. Establish community-owned retail outlets for SHG products
Explanation:
‘SHE-Mart’ will create community-owned retail outlets in every district to provide market access to products made by Self-Help Groups and rural women, enabling their transition from subsistence livelihoods to entrepreneurship.

Q4. Under the 16th Finance Commission, direct transfers to panchayats amount to:

  1. ₹35,000 crore
  2. ₹45,500 crore
  3. ₹55,900 crore
  4. ₹75,000 crore

Correct Option: 2. ₹55,900 crore
Explanation:
More than ₹55,900 crore will be transferred directly to panchayats, nearly doubling direct transfers compared to the earlier five-year period.p.

Q5. Which of the following are initiatives announced in Union Budget 2026–27 to strengthen India’s export competitiveness in manufacturing?

  1. Biopharma SHAKTI
  2. India Semiconductor Mission 2.0
  3. Development of Rare Earth Corridors
  4. Tax holidays for domestic IT companies only

Select the correct answer:

  1. 1, 2 and 3 only
  2. 1 and 4 only
  3. 2, 3 and 4 only
  4. 1, 2, 3 and 4

Correct Option: 1. 1, 2 and 3 only
Explanation:
• Statement 1 is correct: Biopharma SHAKTI is a flagship initiative to boost domestic pharmaceutical manufacturing.
• Statement 2 is correct: India Semiconductor Mission 2.0 aims to scale semiconductor manufacturing and reduce import dependence.
• Statement 3 is correct: Rare Earth Corridors are being developed to support strategic material production for high-tech manufacturing.
• Statement 4 is incorrect: Tax holidays mentioned in the Budget relate to foreign companies providing global cloud services through India-based data centres, not domestic IT companies.

Q6. With reference to trade facilitation and MSME support in the Union Budget 2026–27, which of the following statements are correct?

  1. Electronic sealing of export cargo and automated customs processes will reduce transaction costs and improve predictability.
  2. MSMEs will benefit from a ₹10,000 crore SME Growth Fund and enhanced credit guarantee mechanisms.
  3. Removal of value caps on courier exports will only apply to domestic shipments.

Select the correct answer:

  1. 1 and 2 only
  2. 2 and 3 only
  3. 1 and 3 only
  4. 1, 2 and 3

Correct Option: 1. 1 and 2 only
Explanation:
• Statement 1 is correct: The Budget proposes electronic sealing, automated customs processes, trusted supply-chain recognition, and other reforms to reduce logistics costs and improve ease of doing business.
• Statement 2 is correct: MSMEs are supported through a ₹10,000 crore SME Growth Fund, integration of GeM with TReDS, mandatory TReDS usage by CPSEs, and enhanced credit guarantee mechanisms to improve financing and scalability.
• Statement 3 is incorrect: The removal of the ₹10 lakh value cap on courier exports applies to cross-border shipments, not just domestic ones, enabling small exporters and e-commerce-led trade globally.

Q7. Which of the following best describes the tax incentive announced for AI and cloud data centres in the Union Budget FY 2026–27?

  1. A 10-year tax holiday for all domestic data centre companies
  2. A tax holiday till 2047 for foreign cloud service providers using Indian data centres to serve global customers
  3. A reduced GST rate for AI data centre hardware imports
  4. A production-linked incentive for AI software companies

Correct Option: 2. A tax holiday till 2047 for foreign cloud service providers using Indian data centres to serve global customers
Explanation:
• The Budget proposes a tax holiday till 2047 specifically for foreign companies providing cloud services globally using data centre services located in India.
• The incentive is designed to attract long-term foreign investment into India’s AI and cloud infrastructure.
• Option 1 is incorrect because the incentive is not limited to domestic companies and is not for a fixed 10-year period.
• Option 3 is incorrect as it does not mention GST reductions on hardware imports.
• Option 4 is incorrect because the incentive targets infrastructure (data centres), not AI software development.

Q8. What is the primary focus of the India Semiconductor Mission (ISM) 2.0 as announced in the Union Budget FY 2026–27?

  1. Setting up only semiconductor fabrication (fabs) in India
  2. Expanding consumer electronics assembly units
  3. Developing the entire semiconductor ecosystem including equipment, materials, design, and talent
  4. Providing export subsidies to semiconductor manufacturers

Correct Option: 3. Developing the entire semiconductor ecosystem including equipment, materials, design, and talent.
Explanation:
ISM 2.0 aims to broaden India’s semiconductor capabilities beyond fabrication, focusing on:
• Semiconductor equipment manufacturing
• Materials used in chip production
• A large design ecosystem
• Talent development
Option 1 is incorrect because ISM 2.0 is not limited to fabs.
Option 2 is incorrect as consumer electronics assembly is covered under other schemes like ECMS.
Option 4 is incorrect because the article does not mention export subsidies.

Q9. Which of the following correctly matches the “Three Kartavyas” outlined in the Union Budget 2026–27?

  1. Growth – Welfare – Fiscal Consolidation
  2. Growth & Competitiveness – Capacity Building of People – Inclusive Access to Resources
  3. Infrastructure – Manufacturing – Digital Governance
  4. Sabka Vishwas – Sabka Prayas – Sabka Vikas

Correct Option: 2. Growth & Competitiveness – Capacity Building of People – Inclusive Access to Resources
Explanation:
The Budget explicitly states three Kartavyas:
1. Accelerate and sustain economic growth by improving productivity, competitiveness, and resilience.
2. Fulfil aspirations and build capacity of people, making them partners in growth.
3. Inclusive development aligned with Sabka Saath, Sabka Vikas, ensuring access to resources and opportunities.
Option A and C oversimplify and do not reflect the official articulation.
Option D uses popular governance phrases but not the Budget’s Kartavya framework.

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