Centre’s FY 2026–27 Fiscal Outlook: Former RBI Governor C. Rangarajan and D.K. Srivastava assessed the Centre’s FY 2026–27 fiscal outlook, noting that strong non-tax revenues and capital spending could keep the fiscal deficit near the 4.6% target, despite tax, subsidy and geopolitical pressures. The Centre’s fiscal outlook represents the projected health of Union government finances […]
Category: Economics Current Affairs
India’s Trade Agreements in Action
India’s Trade Agreements in Action: The Government has highlighted India’s growing use of Free Trade Agreements, showing early export gains, rising preferential Certificate of Origin issuance and wider product diversification across FTA partner markets.Over the past decade, India has expanded its network of Free Trade Agreements (FTAs) across major global markets, reflecting its growing economic […]
Regional Rural Banks
Regional Rural Banks: The Ministry of Finance recently said that Regional Rural Banks (RRBs) have recorded strong growth in credit delivery during the financial year 2025-26. RRBs are financial institutions established to provide financial services to rural areas. They are formed in collaboration by the Central Government, State Governments, and Sponsoring Commercial Banks to give […]
The Foreign Currency Non-Resident (Bank) — FCNR(B) Deposits
The Foreign Currency Non-Resident (Bank) — FCNR(B) Deposits: The Reserve Bank of India (RBI) advanced the deadline for fresh Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits to qualify for its special USD–INR forex swap window to August 31, 2026.An FCNR(B) deposit is a term/fixed deposit account maintained in approved foreign currencies by Non-Resident Indians (NRIs) and […]
Government Approves Polymer Banknotes for Field Trials
Government Approves Polymer Banknotes for Field Trials: The Government has approved the Reserve Bank of India (RBI) proposal under Section 25 of the Reserve Bank of India Act, 1934 to introduce one billion pieces each of Rs 10 and Rs 20 polymer banknotes for field trials. Polymer notes will be issued alongside existing paper-substrate banknotes […]
What Is Cess?
What Is Cess? The Himachal Pradesh government imposed a widow and orphan cess of 60 paise per litre on petrol and high-speed diesel. A cess is a specialized, targeted tax levied by the government over and above basic taxes to generate revenue for a specific, pre-determined purpose (e.g., education, road development, worker welfare). Once the […]
NAVYA Programme
NAVYA Programme: The Minister of State (Independent Charge), Ministry of Skill Development and Entrepreneurship (MSDE) informed the Lok Sabha about the NAVYA Programme. The NAVYA (Nurturing Aspirations through Vocational training for Young Adolescent Girls) was launched in 2025. It aims to empower adolescent girls (AGs) aged 16–18 years in aspirational districts by equipping them with […]
Merchant Discount Rate
Merchant Discount Rate: The Govt recently said the proposed merchant discount rate (MDR) for UPI transactions will be nominal and apply only to a limited set of merchants for transactions above a threshold. Merchant Discount Rate (MDR) is the fee charged to a merchant for accepting a digital payment. When a customer pays a business […]
What is the Care Economy?
What is the Care Economy? NITI Aayog has released the report “Reimagining Care: Strategies for Empowering Caregivers in Viksit Bharat@2047”, proposing a roadmap to build a professional, inclusive, and future-ready caregiving ecosystem while positioning India as a global hub for skilled caregivers. NITI Aayog’s “Reimagining Care” report proposes a comprehensive roadmap to professionalise India’s caregiving […]
Licensing Urban Cooperative Banks
Licensing Urban Cooperative Banks: Reserve Bank of India (RBI) Governor announced that the central bank will soon issue draft guidelines for the resumption of on-tap licensing of Urban Cooperative Banks (UCBs).Licensing Urban Cooperative Banks (UCBs) refers to the regulatory authorization granted by the Reserve Bank of India under Section 22 (read with Section 56) of […]
