IBPS GK Questions 2026

It was the first union budget in India not to be printed.

A receipt is capital if it either creates a liability for the government or reduces an asset it holds.

Nominal GDP is measured at current prices and real GDP at the prices of a base year, so the ratio between them isolates the effect of the change in prices.

The real rate of interest is the nominal rate less the rate of inflation, an approximation known as the Fisher equation.

The wholesale price index is built entirely from the prices of goods traded in bulk, and it has exactly three major groups: primary articles, fuel and power, and manufactured products, of which manufactured products carry the largest weight.

The Monetary Policy Committee set up under the amended Reserve Bank of India Act has six members.

If the inflation rate falls from seven per cent to five per cent, prices are still higher than last year but they are rising more slowly.

A loan is repaid in a fixed number of rupees, and inflation reduces what those rupees can buy. The borrower therefore returns money of smaller real value than the money received, so the real burden of the debt falls.

The word joins stagnation and inflation, and it describes the awkward situation in which prices are rising fast while output is flat and unemployment is high.

It is described in the classic phrase as too much money chasing too few goods.

The wholesale price index is compiled and released every month by the Office of the Economic Adviser in the Department for Promotion of Industry and Internal Trade, under the Ministry of Commerce and Industry.

When the flexible inflation targeting framework was adopted after the amendment of the Reserve Bank of India Act in 2016, the combined rural and urban consumer price index released by the National Statistical Office was made the nominal anchor, as the Urjit Patel Committee had recommended.

Virtualization creates a software layer over the physical processor, memory and storage of a machine, so that one server can be divided into several virtual machines, each running its own operating system as though it had hardware of its own.

The Banking Ombudsman is a senior officer appointed by the Reserve Bank of India to hear and settle customer complaints about deficiency in banking service.

Computer memory is counted in powers of two because a binary machine addresses memory in twos, so each step up the ladder is 1024 of the unit below it, not 1000.

A computer works on binary digital signals, and an output device turns the processed result into a form a person can see, hear or hold: a monitor shows it as a picture, a printer puts it on paper, a speaker turns it into sound and a plotter draws it.

MS Word is a word processor made by Microsoft, and any program written to do a particular job for the user is application software.

The American computer scientist John McCarthy is called the father of artificial intelligence because he coined the term itself in his proposal for the Dartmouth summer research project of 1956, the meeting at which the field was born.

Competition policy in India rests on the Competition Act of 2002, which was passed on the advice of the Raghavan Committee after liberalisation, and it replaced the older monopolies law.

In zero based budgeting every item of expenditure starts from a zero base and has to be justified afresh for the coming period, instead of being carried over because it existed last year.