India Export Target: Union Commerce and Industry Minister announced India’s target of achieving $1 trillion exports in 2026 and $2 trillion exports within the next five years. The India Export Target is a national export expansion strategy aimed at transforming India into a globally competitive manufacturing and services hub through export-led growth, domestic industrial strengthening, […]
Category: Economics Current Affairs
ICRA Cuts India’s FY27 GDP Growth Forecast to 6.2% Amid Rising Crude Oil Prices
ICRA Cuts India’s FY27 GDP Growth Forecast to 6.2% Amid Rising Crude Oil Prices: ICRA has lowered India’s FY27 GDP growth forecast to 6.2% from 6.5%, citing higher crude oil prices due to the West Asia crisis. The revision raises concerns over inflation, exports, industrial growth, and the broader economic outlook.Domestic rating agency ICRA has […]
Common Criteria Development Board
Common Criteria Development Board: India has been nominated as the Chair of the Common Criteria Development Board (CCDB) from April 2026 to April 2028. It serves as the technical core of the Common Criteria Recognition Arrangement (CCRA). It focuses on the technical standards and evaluation criteria that secure global IT products. The Common Criteria Recognition […]
Government Revises SOP for FDI Approvals
Government Revises SOP for FDI Approvals: The Ministry of Commerce issued a revised Standard Operating Procedure (SOP) for processing Foreign Direct Investment (FDI) applications to improve transparency and efficiency. The updated SOP fixes a maximum processing timeline of 12 weeks for FDI applications, compared to the earlier 10-week limit under the 2017 SOP. All FDI […]
India’s Forex Stress and the Call for Economic Austerity
India’s Forex Stress and the Call for Economic Austerity: The Prime Minister urged citizens to reduce non-essential gold purchases, overseas travel and fuel consumption amid concerns over India’s foreign exchange reserves, which declined by USD 38 billion in two months to around USD 691 billion as of May 2026.The pressure was driven largely by a […]
European Central Bank (ECB)
European Central Bank (ECB): The Reserve Bank of India (RBI) and the European Central Bank (ECB) signed a Memorandum of Understanding (MoU) to enhance cooperation in central banking. European Central Bank (ECB) is the prime monetary authority of the European Union and the central component of the Eurosystem and the European System of Central Banks […]
Electronic Gold Receipts
Electronic Gold Receipts: The National Stock Exchange of India (NSE) launched Electronic Gold Receipts (EGRs) as a new trading segment. EGRs are dematerialised securities that represent ownership of physical gold. The underlying gold is stored in SEBI-regulated vaults, and investors hold the receipts in their demat accounts — similar to shares or ETFs. Vault Manager […]
UDGAM Portal
UDGAM Portal: The Reserve Bank of India (RBI) recently told the Supreme Court that 30 banks have been integrated into its centralised web portal, UDGAM, to enable legal heirs to trace funds belonging to deceased account holders. UDGAM (Unclaimed Deposits-Gateway to Access inforMation) is an online portal developed by the Reserve Bank of India (RBI). […]
India Allows 100% FDI In Insurance Sector Under Automatic Route
India Allows 100% FDI In Insurance Sector Under Automatic Route: India had allowed the 100% foreign direct investment in the insurance sector under the automatic route. The central government has notified the new amendments to the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 on the 2nd May, 2026. After this move it is expected that […]
Reserve Bank of India Says 98.47% of ₹2,000 Notes Returned to Banking System
Reserve Bank of India Says 98.47% of ₹2,000 Notes Returned to Banking System: The Reserve Bank of India have announced that 98.47% of ₹2,000 Indian currency notes have been returned to the central banking system. ₹2,000 denominations notes were withdraw by the RBI three years ago. It marks the significant milestone in the India’s currency […]
