UPSC Prelims Practice Questions — War can cut 1% point off India’s FY27 GDP growth projection: EY

Question 1

Amid the West Asia conflict, the coordination of measures to secure India's crude oil supplies and address energy supply disruptions is operationalised primarily by which Union Ministry?

Accepted Answer

Ministry of Petroleum and Natural Gas

Answer

Ministry of External Affairs

Answer

Ministry of Commerce and Industry

Answer

Ministry of Finance

Question 2

The Union Minister who presented the Government's statement in Parliament on measures to address energy supply disruptions from the West Asia conflict heads which portfolio?

Accepted Answer

Petroleum and Natural Gas

Answer

Finance

Answer

Commerce and Industry

Answer

External Affairs

Question 3

With respect to the EY Economy Watch projections on the West Asia conflict's impact on India in FY27, consider the following statements:
1. EY's baseline FY27 real GDP growth is placed in the 6.6–6.8% range.
2. A full-year persistence of the conflict could erode real GDP growth by up to about 1 percentage point from baseline.
3. The same scenario could push CPI inflation up by about 1.5 percentage points above baseline.
Which of the statements given above is/are correct?

Accepted Answer

1, 2 and 3

Answer

1 and 2 only

Answer

2 and 3 only

Answer

1 and 3 only

Question 4

The 'Economy Watch' report that projected a possible 1 percentage point erosion in India's FY27 GDP growth is brought out by the India arm of which professional services firm?

Accepted Answer

Ernst & Young (EY)

Answer

Deloitte

Answer

KPMG

Answer

PwC

Question 5

Maritime security operations to safeguard India-bound energy shipments transiting international chokepoints such as the Strait of Hormuz are conducted primarily by which force?

Accepted Answer

Indian Navy

Answer

Indian Coast Guard

Answer

Border Security Force

Answer

Indian Army

Question 6

Regarding the Strait of Hormuz, consider the following statements:
1. It lies between Iran and Oman.
2. It connects the Persian Gulf directly with the Arabian Sea, bypassing the Gulf of Oman.
3. Roughly one-fifth of global oil consumption passes through it.
Which of the statements given above is/are correct?

Accepted Answer

1 and 3 only

Answer

1 and 2 only

Answer

2 and 3 only

Answer

1, 2 and 3

Question 7

An oil price spike widens India's current account deficit chiefly because the single largest item in India's merchandise import bill is which of the following?

Accepted Answer

Crude petroleum

Answer

Gold

Answer

Electronic goods

Answer

Coal

Question 8

India's current account deficit, as part of the Balance of Payments, is officially compiled and published by which institution?

Accepted Answer

Reserve Bank of India

Answer

Directorate General of Commercial Intelligence and Statistics

Answer

National Statistical Office

Answer

Controller General of Accounts

Question 9

In its April 2026 World Economic Outlook, 'Global Economy in the Shadow of War', the IMF projected global growth to slow to which rate in 2026?

Accepted Answer

3.1%

Answer

3.2%

Answer

2.8%

Answer

3.5%

Question 10

The import of urea on Government account and administration of the urea subsidy — exposing India to West Asian gas-feedstock and fertilizer supply risks — is handled by which Department?

Accepted Answer

Department of Fertilizers

Answer

Department of Agriculture and Farmers Welfare

Answer

Department of Food and Public Distribution

Answer

Department of Chemicals and Petrochemicals

Question 11

Regarding India's Strategic Petroleum Reserve (SPR) programme, consider the following statements:
1. The existing Phase-I reserves total 5.33 MMT across Visakhapatnam, Mangaluru and Padur.
2. Phase-II envisages additional facilities at Chandikhol and Padur with a combined capacity of 6.5 MMT.
3. The reserves are built and maintained by ISPRL under the Ministry of Defence.
Which of the statements given above is/are correct?

Accepted Answer

1 and 2 only

Answer

2 and 3 only

Answer

1 and 3 only

Answer

1, 2 and 3

UPSC Prelims Practice Questions — War can cut 1% point off India’s FY27 GDP growth projection: EY

Q1. Amid the West Asia conflict, the coordination of measures to secure India's crude oil supplies and address energy supply disruptions is operationalised primarily by which Union Ministry?

Q2. The Union Minister who presented the Government's statement in Parliament on measures to address energy supply disruptions from the West Asia conflict heads which portfolio?

Q4. The 'Economy Watch' report that projected a possible 1 percentage point erosion in India's FY27 GDP growth is brought out by the India arm of which professional services firm?

Q5. Maritime security operations to safeguard India-bound energy shipments transiting international chokepoints such as the Strait of Hormuz are conducted primarily by which force?

Q7. An oil price spike widens India's current account deficit chiefly because the single largest item in India's merchandise import bill is which of the following?

Q8. India's current account deficit, as part of the Balance of Payments, is officially compiled and published by which institution?

Q9. In its April 2026 World Economic Outlook, 'Global Economy in the Shadow of War', the IMF projected global growth to slow to which rate in 2026?

Q10. The import of urea on Government account and administration of the urea subsidy — exposing India to West Asian gas-feedstock and fertilizer supply risks — is handled by which Department?