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RAS question

Match List I with List II with reference to figures in the 11 May 2026 PIB release after the 5th Informal Group of Ministers meeting on West Asia and select the correct code: List I (Item) A. Crude oil stock B. LPG rolling stock C. OMC daily under-recovery D. India's foreign exchange reserves; List II (Figure) 1. USD 703 billion 2. 60 days 3. 45 days 4. Rs 1,000 crore

Correct answer: (B) A-2, B-3, C-4, D-1.

In the 11 May 2026 PIB release after the 5th IGoM on West Asia, crude oil stock was 60 days, LPG rolling stock was 45 days, OMC daily under-recovery was close to Rs 1,000 crore, and India's foreign exchange reserves were USD 703 billion.

  1. (A)

    A-3, B-2, C-4, D-1

  2. (B)

    A-2, B-3, C-4, D-1

  3. (C)

    A-2, B-3, C-1, D-4

  4. (D)

    A-1, B-2, C-3, D-4

Explanation

The matching turns on reading the PIB figures as a set, not on estimating them from general economic trends. The release says India had 60 days of crude oil stock and 45 days of LPG rolling stock, while foreign exchange reserves stood at USD 703 billion. It also states that oil marketing companies had absorbed losses close to Rs 1,000 crore a day, described as under-recoveries, because domestic petroleum prices were being held steady despite high international crude prices. Therefore List I maps as: crude oil stock to 60 days, LPG rolling stock to 45 days, OMC daily under-recovery to Rs 1,000 crore, and India's foreign exchange reserves to USD 703 billion.

Why the other options are wrong

  • (A) It reverses the two stock-duration figures by assigning crude oil to 45 days and LPG rolling stock to 60 days, while the PIB release gives crude oil as 60 days and LPG as 45 days.
  • (C) It correctly places crude oil at 60 days and LPG at 45 days, but wrongly assigns USD 703 billion to OMC under-recovery and Rs 1,000 crore to foreign exchange reserves.
  • (D) It misreads all four figures by treating USD 703 billion as crude oil stock, 45 days as OMC under-recovery, and Rs 1,000 crore as foreign exchange reserves.

Concept

This tests current-affairs-based Indian Economy, especially energy security, external-sector buffers, and fiscal pressure from petroleum under-recoveries. RAS often uses PIB releases for match-the-following questions because they combine policy context with precise official figures.

Source

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