According to the release, the Central Government's fiscal deficit in FY26 stood at:

The correct answer is A-. The agency moved both the long-term foreign currency issuer rating and the long-term local currency issuer rating up by exactly one notch, from BBB+ to A-, and kept the outlook at stable. Option A, A+, is two notches above the new rating and was not awarded; a single-notch move from BBB+ cannot reach it. Option C, AA-, is higher still and belongs to a different rating band altogether. Option D, BBB, is below the rating India already held, so it would have been a downgrade rather than an upgrade. Note also that the country ceiling, which is a separate measure, was raised by one notch to A, one step above the new sovereign rating. Candidates should hold the two apart: A- is the issuer rating and A is the ceiling that applies to borrowers inside the country.

The correct answer is the Asian Development Bank. It is a multilateral development bank that lends to its member countries; it is not a credit rating agency and assigns no sovereign ratings, so it cannot appear in this list. The release names three agencies that upgraded India over the preceding year. Morningstar DBRS acted first, in May 2025. S&P Global Ratings followed in August 2025. Rating and Investment Information, Inc., which like JCR is based in Japan, upgraded India in September 2025. The Japan Credit Rating Agency's move is therefore the fourth such decision in roughly a year, which is why the release presents it as evidence of a steady strengthening of India's economic fundamentals rather than a one-off judgement. Options A, B and C are all named in the release and are all genuine rating agencies.

The correct answer is the Insolvency and Bankruptcy Code. JCR pointed to three things behind the better asset quality of Indian banks: the establishment of this Code, the capital the Government infused into banks, and stronger supervision by the Reserve Bank of India. It added that capital adequacy and profitability in banking have stayed sound, and that asset quality and capital adequacy in the non-banking financial sector have improved as well, which strengthens the financial system as a whole. Option B, the Companies Act, governs how companies are incorporated and run and was not cited here. Option C, the Competition Act, deals with anti-competitive conduct and combinations, a different subject entirely. Option D, the Foreign Trade Policy, concerns exports and imports. Only the Insolvency and Bankruptcy Code is named in the release in connection with bank asset quality.

The correct answer is USD 140 billion. The Commerce and Industry Minister said India's trade with the European Union had already doubled over the last decade to nearly this figure, which is why the conclusion of the Free Trade Agreement matters so much to both sides. Option D is drawn straight from another part of the same speech, where the Minister said the semiconductor mission would collectively catalyse nearly USD 70 billion worth of investment in India, and a candidate who remembers the digits but not the context will reach for it. Option A and option C are values placed on either side of the correct one, the standard way of testing whether a figure has been learnt exactly or only approximately. Keep the economic figures from this speech separate in memory by attaching each to its own subject: trade with the EU at USD 140 billion, the FTA market at USD 24 trillion, and the target of a USD 30 trillion economy by 2047.

The correct answer is the second-largest. Shri Goyal said that Belgium stands at the gateway of the opportunity created by the India-EU FTA, and noted that the Port of Antwerp-Bruges is Europe's second-largest seaport. He described it as the doorway through which the promise of the agreement would physically arrive in Europe or be dispatched to India, combining Antwerp's inland barge, rail and road networks with the seabridges, deepwater and roll-on roll-off strengths of Bruges. Belgian Prime Minister Bart De Wever, who was present, had himself called the port an important logistical link between India and Europe. Option A, the largest, is the most tempting wrong answer, because a port spoken of in such terms sounds like the biggest of all. Options C and D shift the ranking further down and are easier to reject. Rankings of this kind are favourite question material precisely because one word carries the whole fact.