📰 Today’s Highlights – 8 August 2025
India’s Prime Minister Narendra Modi pledged unwavering support for farmers amid escalating U.S. tariffs, including a 50% levy on Indian exports—calling India one of the most heavily targeted nations by Washington.
Meanwhile, the euro hit a record high of ₹102.3763, making travel to Europe significantly more expensive for Indian tourists.
Despite tariff shocks, the RBI maintained its repo rate at 5.50% with a neutral stance, retaining its GDP forecast of 6.5% and cautioning on secondary sanctions tied to Russian oil affordability.
Daily Current Affairs – MCQs (8 August 2025)
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What major announcement did PM Modi make today?A) Increased import dutiesB) Would never compromise farmers’ interestsC) Announced subsidy cut for agricultureD) Launch of new FDI policyAnswer: B) Would never compromise farmers’ interestsExplanation: PM Modi emphasized unwavering support for farmers amid steep U.S. tariffs targeting Indian exports.
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To what level has the euro risen against the rupee?A) ₹98.50B) ₹100.00C) ₹102.3763D) ₹95.25Answer: C) ₹102.3763Explanation: The euro reached a record high, making European travel more expensive for Indian consumers.
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What key action did the RBI take today?A) Raised repo rateB) Cut repo rateC) Held repo rate at 5.50%D) Introduced negative ratesAnswer: C) Held repo rate at 5.50%Explanation: RBI maintained a neutral stance, keeping the key rate steady amidst global trade tensions.
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What GDP growth estimate did the RBI reaffirm?A) 5%B) 6.5%C) 7.5%D) 4.5%Answer: B) 6.5%Explanation: Despite ongoing trade challenges, the RBI retained its 6.5% GDP growth projection for FY2026.
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Why have tariffs further strained India–U.S. relations?A) Tied to India's Russian oil purchasesB) Linked to tech exportsC) Retaliation over IT visasD) In reaction to space collaborationAnswer: A) Tied to India's Russian oil purchasesExplanation: Additional 25% tariffs were imposed as punishment for India’s continued import and resale of Russian oil, pushing total duties to 50%.
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How did markets react to today’s tariff escalation?A) Stock crashB) Rupee plummeted sharplyC) Limited reaction, thanks to RBI supportD) Surge in gold pricesAnswer: C) Limited reaction, thanks to RBI supportExplanation: Both the rupee and equity markets held steady as expectations of central bank intervention helped contain damage.
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What peak GDP growth is projected if trade tensions ease?A) 5%B) 6%C) 6.5%D) No growthAnswer: C) 6.5%Explanation: RBI’s forecast remains optimistic despite potential 80 bps drag from tariffs.
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Which sector is likely to be most hit by tariff-driven rupee depreciation?A) Indian tourismB) Gold importsC) Indian exportersD) Domestic agricultureAnswer: C) Indian exportersExplanation: Higher U.S. duties will make Indian goods largely uncompetitive in overseas markets.
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What's a possible long-term solution mentioned to ease tensions?A) Peg rupee to dollarB) Devalue rupeeC) Negotiate phased rollback including oil import adjustmentsD) Impose tariffs on U.S. goodsAnswer: C) Negotiate phased rollback including oil import adjustmentsExplanation: Analysts suggest that reducing oil imports from Russia could help reopen talks and stabilize trade ties.
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How did gold prices behave amid currency volatility?A) Fell sharplyB) StabilizedC) Notably increasedD) Stayed flatAnswer: C) Notably increasedExplanation: While today’s headlines didn’t emphasize it, gold had surged to record highs earlier in the week alongside rupee pressure.
🔍 Summary:
Today’s quiz focuses on revived U.S. tariff threats, elevated pressure on both rupee and exports, RBI’s steady policy stance, RBI forex defence, and a high euro rupee rate impacting inward travellers. Let me know if you'd like a quiz on another topic or for a different date!
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