📰 Today’s Highlights – 9 August 2025
India welcomed the upcoming summit between U.S. President Trump and Russian President Putin, calling it a hopeful step toward ending the Ukraine conflict.
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India approved ₹300 billion (~USD 3.4 billion) in compensation for state-run refiners to offset cooking gas losses, helping subsidize fuel costs and support ongoing gas procurement and capex needs.
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Moody’s warned that the 50% U.S. tariffs could significantly hinder India’s manufacturing drive, especially in advanced sectors like electronics, potentially dragging GDP growth by about 0.3 percentage points.
Daily Current Affairs – MCQs (9 August 2025)
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What diplomatic event did India welcome today?A) G20 SummitB) U.S.–Russia summit in AlaskaC) UN Climate ConferenceD) ASEAN trade meetingAnswer: B) U.S.–Russia summit in AlaskaExplanation: India described the planned August 15 Alaska summit as a step toward ending the Ukraine war.
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How much support was approved for cooking gas subsidization?A) ₹100 billionB) ₹200 billionC) ₹300 billionD) ₹400 billionAnswer: C) ₹300 billionExplanation: The cabinet approved ₹300 billion for state-run oil firms to offset losses incurred from cooking gas subsidies.
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Which firms are set to benefit from this subsidy?A) Reliance, ONGC, ShellB) Indian Oil, BPCL, HPCLC) Adani, Petronet, GAILD) Tata Power, NTPC, IOCLAnswer: B) Indian Oil, BPCL, HPCLExplanation: Compensation will be disbursed to Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum.
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By how much might GDP growth be trimmed due to the 50% U.S. tariffs?A) 0.1 percentage pointsB) 0.3 percentage pointsC) 0.5 percentage pointsD) No impactAnswer: B) 0.3 percentage pointsExplanation: Moody’s estimates the tariffs could reduce India’s real GDP by about 0.3% for FY2025–26.
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Which sector could be most affected by the tariffs?A) AgricultureB) Manufacturing, especially electronicsC) IT servicesD) TourismAnswer: B) Manufacturing, especially electronicsExplanation: Moody’s highlighted risks to India’s ambitions in advanced manufacturing sectors, particularly electronics.
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What did India say about the U.S.–Russia meeting's significance?A) It’s a military allianceB) It’s a venture to ban oilC) It’s a diplomatic step toward peaceD) It’s an economic summitAnswer: C) It’s a diplomatic step toward peaceExplanation: India emphasized that this era shouldn't be one of war and welcomed diplomacy to end hostilities.
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What is the key purpose of the cooking gas payout?A) To increase petroleum pricesB) To support gas import businessesC) To offset losses from subsidized cooking gas salesD) To fund refinery expansionAnswer: C) To offset losses from subsidized cooking gas salesExplanation: The payout helps state refiners manage losses while continuing fuel distribution and investments.
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Which challenge did Moody’s warn India will face long-term?A) Loss of exports to EuropeB) Weak mid-tier banking sectorC) Manufacturing growth stifled by tariffsD) Tourism shortfallsAnswer: C) Manufacturing growth stifled by tariffsExplanation: India’s manufacturing push may face reversal in gains due to steep U.S. tariffs.
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What fiscal measure offsets gas price shocks?A) Gold subsidyB) Cooking gas subsidy compensationC) Lower income taxD) Petrol tax waiverAnswer: B) Cooking gas subsidy compensationExplanation: The ₹300 billion payout is meant to mitigate cooking fuel cost burdens.
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What is India's broader message about the global environment?A) Trade wars are unavoidableB) Revive the Cold WarC) Diplomacy should replace conflictD) India stays neutralAnswer: C) Diplomacy should replace conflictExplanation: India stressed that today's era shouldn't be one of war—welcoming diplomatic efforts to ease tensions.
✅ Summary:
This quiz highlights India’s response to steep U.S. tariffs—including economic support to refiners, potential GDP impact, and diplomatic overtures urging peace—as well as broader messaging for dialogue over conflict.
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