Quest Daily CA Quiz 02-02-2026

Quest Daily CA Quiz 02-02-2026

Test your knowledge with today's current affairs

  1. Question 1: Which of the following airports has been renamed after Sri Sant Guru Ravidas Ji?

    • The Halwara Airport in Punjab
    • The Adampur Airport in Punjab
    • The Chandigarh International Airport
    • The Shaheed Bhagat Singh International Airport, Mohali

  2. Question 2: Consider the following statements regarding Saint Ravidas: I. Saint Ravidas was a prominent Bhakti saint who preached social equality, rejected caste-based discrimination, and ritualism. II. The concept of Begumpura, associated with Saint Ravidas, represents an ideal society free from sorrow, fear, injustice, and caste distinctions. III. The devotional hymns (Bani) of Saint Ravidas were included in the Guru Granth Sahib, indicating his influence beyond Hinduism and acceptance within the Sikh tradition. Which of the statements given above are correct?

    • I and II only
    • II and III only
    • I and III only
    • I, II and III

  3. Question 3: Consider the following items: I. Borrowing from the market II. Disinvestment proceeds III. Recovery of loans and advances IV. Capital expenditure on defence V. Loans and advances given to State Governments Which of the above are classified as Capital Receipts in the Capital Budget?

    • I, II and III only
    • I, II, III and IV only
    • II, III, IV and V only
    • I, II, III, IV and V

  4. Question 4: Which of the following statements are correct with respect to the Securities Transaction Tax (STT)? I. It is an indirect tax levied on the purchase and sale of securities. II. It is levied on the purchase and sale of equity shares, debentures and units of equity-oriented mutual funds on recognised stock exchanges. III. It is levied only on the sell-side transaction of derivatives. IV. It is also applicable on unlisted shares sold under an Offer for Sale (OFS) to the public as part of an Initial Public Offering (IPO). V. The Union Budget 2026 proposed an increase in STT on futures and options. Select the correct answer using the code given below:

    • I, II, III and IV only
    • II, III and IV only
    • III, IV and V only
    • I, II, III, IV and V

  5. Question 5: Consider the following statements regarding the trend in tax receipts (as a percentage of GDP): I. The share of direct taxes in GDP shows a gradual increase from 2019–20 to 2026–27 (BE). II. The share of indirect taxes in GDP has shown a declining trend after 2021–22. III. In 2026–27 (BE), the share of direct taxes in GDP is higher than that of indirect taxes. Which of the statements given above are correct?

    • I and II only
    • II and III only
    • I and III only
    • I, II and III.

  6. Question 6: As per the Union Budget 2026–27, consider the following statements: I. Corporation tax is the largest source of receipts and is higher than borrowings and liabilities. II. On the expenditure side, the States’ share of taxes is the largest component and is higher than interest payments. Which of the statements given above is/are incorrect?

    • I only
    • II only
    • Both I and II
    • Neither I nor II

  7. Question 7: Consider the following statements: I. Promethium is excluded from the list of commercially exploited rare earth elements because it is radioactive and occurs only in trace quantities. II. All rare earth elements identified for strategic and industrial use are non-radioactive in nature. Which of the statements given above is/are NOT correct?

    • I only
    • II only
    • Both I and II
    • Neither I nor II

  8. Question 8: Consider the following statements with reference to Union Budget 2026-27: Statement I: The fiscal deficit of the Union Government represents the excess of its total expenditure over its total non-debt receipts in a financial year. Statement II: A reduction in fiscal deficit as a percentage of GDP helps in lowering the government’s debt burden and interest payment obligations over time. Which one of the following is correct in respect of the above statements?

    • Both Statement I and Statement II are correct and Statement II explains Statement I
    • Both Statement I and Statement II are correct but Statement II does not explain Statement I
    • Statement I is correct but Statement II is not correct
    • Statement I is not correct but Statement II is correct