Solved UPSC Prelims Economy PYQs With Explanation 2025 

1. With reference to investments, consider the following:

I. Bonds

II. Hedge Funds

III. Stocks

IV. Venture Capital

How many of the above are treated as Alternative Investment Funds?

(a) Only one

(b) Only two

(c) Only three

(d) All

1.Ans-b

Explanation

Alternate Investment Fund (“AIF”)

Alternative Investment Fund or AIF means any fund established or incorporated in India which is a privately pooled investment vehicle which collects funds from sophisticated investors, whether Indian or foreign, for investing it in accordance with a defined investment policy for the benefit of its investors. 

Alternative Investment Funds can be of different types based on their investment strategy and types of assets under management

Venture Capital Fund (VCF) 

VCF means “an AIF which invests primarily in unlisted securities of start-ups, emerging or early-stage venture capital undertakings mainly involved in new products, new services, technology or intellectual property right based activities or a new business model and shall include an angel fund.

Angel Fund 

Angel Fund means “a sub-category of Venture Capital Fund under Category I AIF that raises funds from angel investors and invests in accordance with the SEBI (AIF) Regulations

Private Equity Fund

Private Equity Fund PE Fund means “an AIF which invests primarily in equity or equity linked instruments or partnership interests of investee companies according to the stated objective of the fund.

Special Situation Fund 

Special Situation Fund means a Category I AIF that invests in special situation assets in accordance with its investment objectives and may act as a resolution applicant under the Insolvency and Bankruptcy Code, 2016

Debt Fund Debt

Debt Fund Debt Fund means “an AIF which invests primarily in debt securities of listed or unlisted investee companies or in securitised debt instruments according to the stated objectives of the Fund

Infrastructure Fund 

Infrastructure Fund means “an AIF which invests primarily in unlisted securities or partnership interest or listed debt or securitised debt instruments of investee companies or special purpose vehicles engaged in or formed for the purpose of operating, developing or holding infrastructure projects 

SME Fund 

SME Fund means “an AIF which invests primarily in unlisted securities of investee companies which are SMEs or securities of those SMEs which are listed or proposed to be listed on a SME exchange or SME segment of an exchange

Hedge Fund 

Hedge Fund means “an AIF which employs diverse or complex trading strategies and invests and trades in securities having diverse risks or complex products including listed and unlisted derivatives”. 

Social Venture Fund 

Social Venture Fund means “an AIF which invests primarily in securities or units of social ventures and which satisfies social performance norms laid down by the fund and whose investors may agree to receive restricted or muted returns”. 

Social venture is a trust or society or company or venture capital undertaking or limited liability partnership formed with the purpose of promoting social welfare or solving social problems or providing social benefits. 

Hence 2 and 4 are correct

Bond 

A bond is a contract between the borrower (the issuer) and the lender (the investor). In other words, a bond allows a company to raise money from a large number of investors by breaking up the total amount borrowed into small, equal components. Investors can subscribe to these bonds as per their investible surplus.

Stocks

Stocks/Shares represent part-ownership in a business. Each shareholder holds ownership commensurate with the number of shares held in a company out of the total issued shares.

Stocks are financial securities representing ownership in companies , Stocks of company gets divided into shares i.e . a unit  of stock is share . 

2. Which of the following are the sources of income for the Reserve Bank of India?

I. Buying and selling Government bonds

II. Buying and selling foreign currency

III. Pension fund management

IV. Lending to private companies

V. Printing and distributing currency notes

Select the correct answer using the code given below:

(a) I and II only

(b) II, III and IV

(c) I, III, IV and V

(d) I, II and V

2. Ans-a

Explanation

The size of the Reserve Bank’s balance sheet increased by 11.08 per cent for the year ended March 31, 2024. While income for the year increased by 17.04 per cent, expenditure decreased by 56.30 per cent. The year ended with an overall surplus of ₹2,10,873.99 crore as against ₹87,416.22 crore in the previous year, resulting in an increase of 141.23 per cent.  

Trends in Income, Expenditure, Net Income and Surplus Transferred to the Central Government

RBI Expenditure

The Reserve Bank incurs expenditure in the course of performing its statutory functions by way of agency charges/commission, printing of notes, expenditure on remittance of currency, besides employee related and other expenses .

Hence 5 is incorrect

RBI Income

The components of Reserve Bank’s income are ‘Interest’ and

‘Other Income’ including 

(i) Discount 

(ii) Exchange 

(iii) Commission 

(iv) Amortisation of premium/ discount on Foreign and Rupee Securities 

(v) Profit/ Loss on sale and redemption of Foreign and Rupee Securities 

(vi) Depreciation on Rupee Securities inter portfolio transfer 

(vii) Rent Realised 

(viii) Profit/ Loss on sale of Bank’s property, and 

(ix) Provision no longer required and Miscellaneous Income. 

Certain items of income  interest on LAF repo, Repo in foreign security and exchange gain/ loss from foreign exchange transactions 

Hence 1 and 2 are correct

Pension fund management and Lending to private companies are not functions of RBI 

Hence 3 and 4 are incorrect 

3) With reference to the Government of India, consider the following information:

In how many of the above rows is the information correctly matched?

(a) Only one
(b) Only two
(c) All the three
(d) None

3.Ans-a

Explanation

The Directorate of Enforcement or the ED under  Department of Revenue , Ministry of Finance is a multi-disciplinary organization mandated with investigation of economic crimes and violations of foreign exchange laws.

With the onset of the process of economic liberalization, FERA, 1973, which was a regulatory law, was repealed and in its place, a new law viz. the Foreign Exchange Management Act, 1999 (FEMA) came into operation w.e.f. 1st June 2000. Further, in tune with the International Anti Money Laundering regime, the Prevention of Money Laundering Act, 2002 (PMLA) was enacted and ED was entrusted with its enforcement w.e.f. 1st July 2005. Recently, with the increase in number of cases relating to economic offenders taking shelter in foreign countries, the Government has passed the Fugitive Economic Offenders Act, 2018 (FEOA) and ED is entrusted with its enforcement with effect from 21st April, 2018 

Hence 1st row is incorrectly matched

The Directorate of Revenue Intelligence is the apex anti-smuggling agency of India, working under the Central Board of Indirect Taxes & Customs, Department of Revenue, Ministry of Finance, Government of India. It is tasked with detecting and curbing smuggling of contraband, including drug trafficking and illicit international trade in wildlife and environmentally sensitive items, as well as combating commercial frauds related to international trade and evasion of Customs duty. Its mandate includes detecting and preventing the smuggling of contraband such as drugs, illicit wildlife products, and environmentally sensitive items, as well as tackling commercial frauds and Customs duty evasion under the Customs Act, 1962. 

Hence 2nd row is correctly matched

The Central Board of Indirect Taxes & Customs, Department of Revenue, Ministry of Finance,  has initiated a number of projects aimed at harnessing Information & Communication Technology (ICT) The DG (Systems& Data Management) has been entrusted with the implementation of the projects related to Information & Communication Technology.

The Directorate General of Systems & Data Management

• is responsible for the design, development, programming, testing, implementation and maintenance of Customs and Central Excise automated systems, and for overseeing and managing the projects sanctioned by CBIC related to IT.
• is responsible for the management of all Centrally deployed Customs and Central Excise computer facilities, hardware, software, data communications
• in the automated environment, acts as a point of reference and validation concerning procedural changes in Customs and Central Excise, in addition to being a resource centre on business process issues.
• is responsible for identifying and evaluating new technologies for application to automated systems within the department.
• is responsible for developing and maintaining all policy and subsequently, on the implementation of centralized systems, the operational aspects of the Department’s Computer Security.
• Establishes requirements for computer-to-computer interfaces between the department and various trading partners and government agencies
• Represents Customs and Central Excise on matters related to automated processing and systems development
• Implements information resource and data management

Directorate General of Systems & Data Management is not associatedwith big data analytics

Hence 3rd row is incorrectly matched

4. Consider the following statements:

I. The Reserve Bank of India mandates all the listed companies in India to submit a Business

Responsibility and Sustainability Report (BRSR).

II. In India, a company submitting a BRSR makes disclosures in the report that are largely non-financial in nature.

Which of the statements given above is/are correct?

(a) I only

(b) II only

(c) Both I and II

(d) Neither I nor II

4. Ans-b

Explanation

Securities and Exchange Board of India (SEBI) has introduced the Business Responsibility and Sustainability Reporting (BRSR) guidelines for listed companies.

Hence, statement 1 is incorrect.

Business Responsibility and Sustainability Reporting (BRSR) is an integrated reporting framework. Its purpose is to increase the level of reporting on environmental, social, and governance (ESG) performance. BRSR requires enterprises to report ESG performance indicators to ensure that they practise responsible business and achieve sustainable development.

Hence, statement 2 is  correct.

5. Consider the following statements:

Statement I: In India, income from allied agricultural activities like poultry farming and wool rearing in rural areas is exempted from any tax.

Statement II: In India, rural agricultural land is not considered a capital asset under the provisions of the Income-tax Act, 1961.

Which one of the following is correct in respect of the above statements?

(a) Both Statement I and Statement II are correct and Statement II explains Statement I

(b) Both Statement I and Statement II are correct but Statement II doesnot explain Statement I

(c) Statement I is correct but Statement II is not correct

(d) Statement I is not correct but Statement II is correct

5. Ans-d

Explanation

Agricultural income is exempted from tax under the Income-tax Act, 1961. It is important to note that income from allied agricultural activities like poultry farming, wool rearing, etc. are not considered as agricultural income. Hence, tax may be levied on incomes from such activities. However, many states levy a tax on agricultural income as per their respective State’s policy

Hence, statement 1 is incorrect.

Agricultural land in rural areas in India is not considered a capital asset under section 45 of the Income-tax Act,1961. Therefore any gains from its sale are not taxable under the head ‘Capital Gains’. 

Hence, statement 2 is  correct.

6. Consider the following statements:

I. India has joined the Minerals Security Partnership as a member.

II. India is a resource-rich country in all the 30 critical minerals that it has identified.

III. The Parliament in 2023 has amended the Mines and Minerals (Development and Regulation) Act, 1957 empowering the Central Government to exclusively auction mining lease and composite license for certain critical minerals.

Which of the statements given above are correct?

(a) I and II only

(b) II and III only

(c) I and III only

(d) I, II and III

6.Ans-c

Explanation

Mineral Security Partnership (MSP)- It is a US-led collaboration of 23 countries that aims to catalyse public and private investment in critical mineral supply chains globally. 

India’s inclusion assumes significance given that one of the key elements is the ambitious shift in the mobility space through the conversion of a large part of public and private transport to electric vehicles.

Hence, statement 1 is correct.

A total of 30 minerals were found to be most critical for India , India is 100% import-dependent for certain elements.

Hence, statement 2 is incorrect.

Amended Mines and Minerals (Development and Regulation) Act, 1957 empowers  the Central Government to exclusively auction mining lease and composite licence for certain critical minerals .

Hence, statement 3 is correct.

7. Consider the following statements:

Statement I: As regards returns from an investment in a company, generally, bondholders are considered to be relatively at lower risk than stockholders.

Statement II: Bondholders are lenders to a company whereas stockholders are its owners.

Statement III: For repayment purpose, bondholders are prioritized over stockholders by a company.

Which one of the following is correct in respect of the above statements?

(a) Both Statement II and Statement III are correct and both of them explain Statement I

(b) Both Statement I and Statement II are correct and Statement I explains Statement II

(c) Only one of the Statements II and III is correct and that explains Statement I

(d) Neither Statement II nor Statement III is correct

7. Ans-a

Explanation

Bond 

A bond is a contract between the borrower (the issuer) and the lender (the investor). In other words, a bond allows a company to raise money from a large number of investors by breaking up the total amount borrowed into small, equal components. Investors can subscribe to these bonds as per their investible surplus.

Bondholders are providing capital to a company in return for interest payments. Bonds inherently carry less risk compared to stocks..

Stocks

Stocks and shares represent partial ownership in a business. Each shareholder’s ownership stake is proportional to the number of shares they own relative to the total issued shares of the company.

Stocks are financial securities representing ownership in companies , Stocks of company gets divided into shares i.e . a unit  of stock is share . 

Investing in stocks offers shareholders the potential for profit through capital appreciation and income through dividends, although it does carry a higher level of risk.

Hence Both Statement II and Statement III are correct and both of them explain Statement I

8. Consider the following statements:

I. India accounts for a very large portion of all equity option contracts traded globally thus exhibiting a great boom.

II. India’s stock market has grown rapidly in the recent past even overtaking Hong Kong’s at some point of time.

III. There is no regulatory body either to warn the small investors about the risks of options trading or to act on unregistered financial advisors in this regard.

Which of the statements given above are correct?

(a) I and II only

(b) II and III only

(c) I and III only

(d) I, II and III

8.Ans-a

Explanation

Equity options trading in India has cooled this year after exponential growth since the pandemic. Fees from options traded on the NSE grew just 2% this year through April, sharply lower than the 92% growth in the same period last year, according to exchange data. 

The slowdown was triggered by Sebi, which imposed several restrictions on trading options including higher minimum investment limits and an increase in lot sizes since November to protect retail traders — 90% of whom lost money trading options.

Hence, statement 1 is correct & statement 3 is incorrect

In mid-September 2024 India had market cap 17 per cent higher than Hong Kong’s. Now, Hong Kong’s market cap exceeds India’s .

Hence statement 2 is correct

9.Consider the following statements:

Statement I: Circular economy reduces the emissions of greenhouse gases.

Statement II: Circular economy reduces the use of raw materials as inputs.

Statement III: Circular economy reduces wastage in the production process.

Which one of the following is correct in respect of the above statements?

(a) Both Statement II and Statement III are correct and both of them explain Statement I

(b) Both Statement II and Statement III are correct but only one of them explains Statement I

(c) Only one of the Statements II and III is correct and that explains Statement I

(d) Neither Statement II nor Statement III is correct

9. Ans-a

Explanation

Our current economic system can be considered a “linear economy”, built on a model of extracting raw materials from nature, turning them into products, and then discarding them as waste. Currently, only 7.2 percent of used materials are cycled back into our economies after use. This has a significant burden on the environment and contributes to the climate, biodiversity, and pollution crises.

Circular economy refers to a system that aims to minimize the use of energy, natural resources, and waste generation by closing loops of utilities and materials flows. It involves minimizing inputs of raw materials, reducing waste outputs, and reintegrating products into the system when they reach the end of their life .

For Example – In buildings and construction, circular solutions can include reducing virgin material use, re-using existing materials in circulation, or substituting carbon-intensive materials for regenerative alternatives such as timber.

Besides helping tackle the problem of pollution, circular economy can play a critical role in solving other complex challenges such as climate change and biodiversity loss.

Hence, statement 2 is correct & statement 3 is correct and explain statement 1

10. Consider the following statements:

I. Capital receipts create a liability or cause a reduction in the assets of the Government.

II. Borrowings and disinvestment are capital receipts.

III. Interest received on loans creates a liability of the Government.

Which of the statements given above are correct?

(a) I and II only

(b) II and III only

(c) I and III only

(d) I, II and III

10.Ans-a

Explanation

Capital Receipts- All those receipts of the government which create liability or reduce financial assets are termed as capital receipts.

Capital Receipts include recovery of loans , Borrowings and other liabilities, Other receipts (mainly PSU disinvestment) 

Hence, statements 1& 2  are correct

Revenue Receipts: Revenue receipts are those receipts that do not lead to a claim on the government.They are divided into tax and non-tax revenues. Non-tax revenue of the central government mainly consists of interest receipts on account of loans by the central government, dividends and profits on investments made by the government, fees and other receipts for services rendered by the government. Cash grants-in-aid from foreign countries and international organisations are also included 

Hence, statement 3 is incorrect

11.Suppose the revenue expenditure is Rs.80,000 crores and the revenue receipts of the Government are Rs.60,000 crores. The Government budget also shows borrowings of Rs.10,000 crores and interest payments of Rs.6,000 crores. 

Which of the following statements are correct?

I. Revenue deficit is Rs.20,000 crores.

II. Fiscal deficit is Rs.10,000 crores.

III. Primary deficit is Rs.4,000 crores.

Select the correct answer using the code given below.

(a) I and II only

(b) II and III only

(c) I and III only

(d) I, II and III

11.Ans-d

Explanation

Revenue Deficit: The revenue deficit refers to the excess of government’s revenue expenditure over revenue receipts 

Revenue deficit = Revenue expenditure – Revenue receipts (60000-80000cr )= 20000 crore

Hence statement 1 is correct 

Fiscal Deficit: Fiscal deficit is the difference between the government’s total expenditure and its total receipts excluding borrowing 

The fiscal deficit will have to be financed through borrowing. Thus, it indicates the total borrowing requirements of the government from all sources  =  Rs.10,000 crore

Hence statement 2 is correct 

Primary Deficit: We must note that the borrowing requirement of the government includes interest obligations on accumulated debt. The goal of measuring primary deficit is to focus on present fiscal imbalances. To obtain an estimate of borrowing on account of current expenditures exceeding revenues, we need to calculate what has been called the primary deficit. It is simply the fiscal deficit minus the interest payments =   Rs.10,000 crore –   Rs.6000 crore =   Rs.4,000 crore

Hence statement 3 is correct 

12.A country’s fiscal deficit stands at Rs.50,000 crores. It is receiving Rs.10,000 crores through non-debt creating capital receipts. The country’s interest liabilities are Rs.1,500 crores. What is the gross primary deficit?

(a) Rs.48,500 crores

(b) Rs.51,500 crores

(c) Rs.58,500 crores

(d) None of the above

12. Ans-a

Explanation

Gross primary deficit = Gross fiscal deficit – Net interest liabilities (50000-1500=48500 crore)

Net interest liabilities consist of interest payments minus interest receipts by the government on net domestic lending

13. Which of the following statements with regard to recommendations of the 15th Finance Commission of India are correct?

I. It has recommended grants of ₹ 4,800 crores from the year 2022-23 to the year 2025-26 for incentivizing States to enhance educational outcomes.

II. 45% of the net proceeds of Union taxes are to be shared with States.

III. ₹ 45,000 crores are to be kept as performance-based incentive for all States for carrying out agricultural reforms.

IV. It reintroduced tax effort criteria to reward fiscal performance.

Select the correct answer using the code given below.

(a) I, II and III

(b) I, II and IV

(c) I, III and IV

(d) II, III and IV

13. Ans-c

Explanation

XVFC has recommended grants of Rs. 4,800 crore (Rs. 1,200 crore each year) from 2022-23 to 2025-26 for incentivising the States to enhance educational outcomes.

Hence statement  1 is correct

45000 crore for implementation of agricultural reforms

Hence statement 3 is correct

XVFC has recommended maintaining the vertical devolution at 41 per cent – the same as in our report for 2020-21. It is at the same level of 42 per cent of the divisible pool as recommended by FC-XIV. However, it has made the required adjustment of about 1 per cent due to the changed status of the erstwhile State of Jammu and Kashmir into the new Union Territories of Ladakh and Jammu and Kashmir.

Hence statement 2 is incorrect

Horizontal devolution:

Based on principles of need, equity and performance, overall devolution formula is as follows.

Hence statement 4  is correct

14. Consider the following statements in respect of the International Bank for Reconstruction and Development (IBRD) :

I. It provides loans and guarantees to middle income countries.

II. It works single-handedly to help developing countries to reduce poverty.

III. It was established to help Europe rebuild after the World War II.

Which of the statements given above are correct?

(a) I and II only

(b) II and III only

(c) I and III only

(d) I, II and III

14. Ans-c

Explanation

The International Bank for Reconstruction and Development (IBRD) is a global development cooperative owned by 189 member countries. 

As the largest development bank in the world, it supports the World Bank Group’s mission by providing loans, guarantees, risk management products, and advisory services to middle-income and creditworthy low-income countries, as well as by coordinating responses to regional and global challenges. 

Hence statement  1 is correct

Created in 1944 to help Europe rebuild after World War II, IBRD joins with IDA, fund for the poorest countries, to form the World Bank. 

Hence statement  3 is correct  

They work closely with all institutions of the World Bank Group and the public and private sectors in developing countries to reduce poverty and build shared prosperity.

Hence statement  2 is incorrect

15. Consider the following statements in respect of RTGS and NEFT :

I. In RTGS, the settlement time is instantaneous while in case of NEFT, is takes some time to settle payments.

II. In RTGS, the customer is charged for inward transactions while that is not the case for NEFT.

III. Operating hours for RTGS are restricted on certain days while this is not true for NEFT.

Which of the statements given above is/are correct?

(a) I only

(b) I and II

(c) I and III

(d) III only

15. Ans-a

Explanation

The acronym ‘RTGS’ stands for Real Time Gross Settlement, which can be explained as a system where there is continuous and real-time settlement of fund-transfers, individually on a transaction-by-transaction basis (without netting). ‘Real Time’ means the processing of instructions at the time they are received; ‘Gross Settlement’ means that the settlement of funds transfer instructions occurs individually.

Funds settlement takes place in the books of the Reserve Bank of India (RBI), the payments are final and irrevocable.

RTGS is available 24x7x365 with effect from December 14, 2020.

The RTGS system is primarily meant for large value transactions. The minimum amount to be remitted through RTGS is ₹ 2,00,000/- with no upper or maximum ceiling.

service charges levied by banks for offering funds transfer through RTGS system, a broad framework of charges has been mandated as under:

a) Inward transactions – Free, no charge to be levied. Hence statement  2 is incorrect

b) Outward transactions – ₹ 2,00,000/- to 5,00,000/-: not exceeding ₹ 25/- (exclusive of tax, if any)

Above ₹ 5,00,000/-: not exceeding ₹ 50 (exclusive of tax, if any)

Banks may decide to charge a lower rate but cannot charge more than the rates prescribed by RBI.

National Electronic Funds Transfer (NEFT) is an electronic fund transfer system in which the transactions received up to a particular time are processed in batches. Contrary to this, in RTGS, the transactions are processed continuously on a transaction-by-transaction basis throughout the day.

The NEFT system is available round the clock throughout the year on all days, i.e., on 24x7x365 basis. NEFT presently operates in batches on half-hourly intervals throughout the day. So its not instant like RTGS , it takes some time . 

Hence statement  1 is correct

Besides funds transfer, NEFT system can be used for a variety of transactions including payment of credit card dues to the card issuing banks, payment of loan EMI, inward foreign exchange remittances, etc.

Customer charges levied by bank for NEFT transactions

There are no charges to be levied for inward transactions at destination bank branches for giving credit to beneficiary accounts.

For outward transactions undertaken using the NEFT system, RBI stopped levying processing charges on member banks from July 01, 2019.

Also, in order to give further impetus to digital retail payments, banks have been advised to not levy any charges from their savings bank account holders for NEFT funds transfers initiated online with effect from January 01, 2020.

The maximum charges which originating bank can be levy from its customers for other outward transactions, if they so desire, are given below: –

– For transactions up to ₹10,000 : not exceeding ₹2.50 (+ Applicable GST)

– For transactions above ₹10,000 up to ₹1 lakh: not exceeding ₹5 (+ Applicable GST)

– For transactions above ₹1 lakh and up to ₹2 lakhs: not exceeding ₹15 (+ Applicable GST)

– For transactions above ₹2 lakhs: not exceeding ₹25 (+ Applicable GST)

Hence statement 3 is incorrect  

16. Consider the following countries :

I. United Arab Emirates

III. France

III. Germany

IV. Singapore

V. Bangladesh

How many countries amongst the above are there other than India where international merchant payments are accepted under UPI?

(a) Only two

(b) Only three

(c) Only four

(d) All the five

16. Ans-b

Explanation

NPCI has launched UPI Global Acceptance (International Merchant Payments), a feature that enables users to make QR code-based payments at select international merchant locations directly from their Indian bank accounts via UPI-powered applications.

List of countries where international merchant payments are accepted at select merchant outlets – Bhutan , France , Mauritius , Nepal , Singapore , Srilanka , UAE

17. Consider the following statements about ‘PM Surya Ghar Muft Bijli Yojana’ :

I. It targets installation of one crore solar rooftop panels in the residential sector.

II. The Ministry of New and Renewable Energy aims to impart training on installation, operation, maintenance and repairs of solar rooftop systems at grassroot levels.

III. It aims to create more than three lakhs skilled manpower through fresh skilling, and upskilling, under scheme component of capacity building.

Which of the statements given above are correct?

(a) I and II only

(b) I and III only

(c) II and III only

(d) I, II and III

17. Ans-d

Explanation

The PM Surya Ghar: Muft Bijli Yojana, the world’s largest domestic rooftop solar initiative, is transforming India’s energy landscape with a bold vision to supply solar power to one crore households by March 2027. 

The Ministry of New and Renewable Energy (MNRE) intends to impart training on installation, operation, maintenance and repairing of solar roof top systems at grass root level. 

Aims to create more than 3 lakh skilled manpower, through fresh skilling, and up-skilling, under scheme component of capacity building, out of which at least 1,00,000 will be Solar PV Technicians. 

Hence statements  1,2& 3 are  correct