Current Affairs August 2026 — MCQs with Answers (Set 8)

A positive Indian Ocean Dipole (IOD) can offset El Niño’s effect, but the IMD predicted neutral IOD conditions for 2026, removing that cushion.

Only 7 of India’s 16 El Niño years since 1950 saw below-normal monsoon rainfall, showing the link isn’t automatic.

The Second Stage Forecast set rainfall at 90% of LPA, revised down from the First Stage Forecast’s 92%.

The PPI has three parts: Output PPI, Input PPI, and Service PPI. There is no separate Import PPI.

The Office of Economic Adviser under the Department for Promotion of Industry and Internal Trade (DPIIT) released the revised series.

The WPI base year moved to 2022-23, with the revised series released 15 June 2026.

The RBI lowered its CPI inflation projection to 5.0%, from 5.1%, expecting inflation to peak in the October-December quarter.

The MPC unanimously kept the repo rate unchanged at 5.25% in its August 2026 review.

Remittances from overseas Indians rose to $43.5 billion in Q4 FY26, from $33.9 billion a year earlier, alongside stronger services exports.

Q4 FY25 posted a larger surplus of $13.7 billion (1.4% of GDP), nearly double the Q4 FY26 figure.

India ran a full-year current account deficit of $25.2 billion (0.6% of GDP) in FY26, even though Q4 alone posted a surplus.

The RBI released this data as part of its report on India’s Balance of Payments.

Meta invested $5.7 billion in Jio Platforms in 2020, the earlier tie-up this new data centre deal builds on.

The two deals add up to nearly 1 gigawatt of new renewable capacity, from CleanMax (837 MW) and Fourth Partner Energy (88 MW).

The ₹4,001 crore Shipbreaking Credit Note Scheme offers this 40% credit, linking ship recycling to Indian shipbuilding. The other three are real government schemes, just for different sectors.

India’s global ship recycling share rose to 35.4% in 2025. Option B, 30.1%, was India’s actual share the year before, in 2024.

Accommodation and Food led at 37.2% growth. The other three options are also real, fast-growing sub-sectors from the same April 2026 trial data, just not the fastest.

Debjani Ghosh chairs the Technical Advisory Committee behind the ISP. The other three are real economists/statisticians, but not this committee’s chair.

MoSPI released the ISP’s trial indices on 14 July 2026, covering FY 2025-26 and April 2026.

The ISP tracks services output monthly, the way the IIP tracks manufacturing, mining, and utilities.

Jardalu is GI-tagged to Bihar’s Bhagalpur district. Kuttiattoor is actually from Kerala, Himsagar from West Bengal, and Appemidi from Karnataka.

IIP grew 5.1% in May 2026, up from 4.9% the previous month and above the 4.7% market expectation.

The book centres on Sage Agatthiyar (Agastya), revered equally in North and South Indian traditions.

The book was written by O. Shama Bhat and Dr. M.N. Sudha, both from Mysuru.

The book was published by Kalaimagal, a Tamil literary magazine with over 95 years of history.