<aside> ❓ Q.1 Consider the following statements:

  1. Purchasing Power Parity (PPP) exchange rates are calculated by comparing the prices of the same basket of goods and services in different countries.
  2. In terms of PPP dollars, India is the sixth largest economy in the world.

Which of the statements given above is/are correct?

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<aside> ❓ Q2. Consider the following statements with regards to inflation and interest rates:

  1. A 5% inflation implies the general price level in April this year was 5% more than what it was in March this year.
  2. The technical definition of a recession requires an economy to contract for two consecutive quarters; a quarter is a period of three months.
  3. Raising interest rates by the RBI is an attempt to achieve lower inflation.

Choose the correct code:

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<aside> ❓ Q2. Consider the following statements with regards to taxation on Virtual Digital Assets in India: (Level – Difficult)

  1. A tax deducted at source (TDS) of 1 per cent will be levied on the transfer of VDAs effective July 1 if the value of transactions exceeds Rs 10,000 in a year.
  2. The CBDT has defined four primary VDAs — bitcoin, ether, USD Tether and USD Coin — for the purpose of tax deduction on lesser-known cryptocurrencies.
  3. If two different cryptocurrencies, say bitcoin and ether, are being exchanged, both the persons would be considered buyers as well as sellers. Therefore, none of them would pay any tax with respect to the transfer of the cryptocurrency. </aside>

<aside> 📢 Q3. Which of the following statement/s is/are correct with respect to salt production in India? (Difficulty level- Difficult)

  1. India is the world’s largest producer of salt.
  2. Among the states, Rajasthan accounts for the largest salt production in India.
  3. Salt produced from mining accounts for around 30% of the total salt production in India. </aside>

<aside> 📢 Q4. Which of the following statement/s is/are correct? (Difficulty level- Medium)

  1. The levy and collection of GST compensation cess has been extended till March 2026.
  2. The revenue collected from this cess will be used to compensate the states for any shortfall in their revenue collections under the GST system until March 2026. </aside>