Gross GST collections rise 14.7% to over ₹2.03 lakh crore in September 2026
Data released on 1 October 2026 showed gross GST collections for September 2026 rose 14.7% to ₹2,03,521 crore. Revenue from imports grew 25.9% to ₹65,525 crore, and net collections after refunds rose 18.1% to ₹1,76,520 crore. It was the third month in a row in which collections stayed above ₹2 lakh crore.
Cabinet raises Rabi MSP for 2027-28: wheat at ₹2,610 a quintal; safflower gets highest hike of ₹675
On 30 September 2026, the Union Cabinet raised the minimum support prices of all Rabi crops for the 2027-28 marketing season. Wheat MSP rose by ₹25 to ₹2,610 per quintal, while safflower got the highest increase of ₹675 (to ₹7,215) followed by rapeseed and mustard (₹413, to ₹6,613). The expected margin over cost is highest for wheat at 106%.
Exam angleWheat MSP 2027-28; crop with highest hike (safflower)
Cabinet approves ₹1.86 lakh crore Green Energy Corridor Phase-III to evacuate 135 GW of renewable power
On 30 September 2026, the Union Cabinet approved the third phase of the Green Energy Corridor (GEC-III) to strengthen intra-state transmission and integrate up to 135 GW of renewable energy by 2032-33. The outlay is over ₹1.86 lakh crore, including ₹1.36 lakh crore for intra-state transmission and, for the first time, ₹50,000 crore for 50 GWh of battery energy storage. Central financial assistance is ₹54,082 crore.
Exam angleGEC-III target (135 GW) and battery storage (50 GWh)
SEMICON India 2026, the fifth edition, opens at Yashobhoomi, New Delhi, on 17 September
The Prime Minister inaugurated the fifth edition of SEMICON India at Yashobhoomi, Dwarka, New Delhi, on 17 September 2026. He said 12 semiconductor projects have been approved and plants at Mohali and Surat have begun commercial chip production. He also spoke of the second phase of the India Semiconductor Mission and said 70,000 engineering students have been trained against a target of one lakh.
Exam angleSEMICON India 2026 edition and venue (Yashobhoomi)
Cabinet raises EPFO wage ceiling for mandatory coverage from ₹15,000 to ₹25,000 a month
On 16 September 2026, the Union Cabinet approved raising the wage ceiling for mandatory coverage under the Employees' Provident Fund Organisation (EPFO) from ₹15,000 to ₹25,000 per month. Over 51 lakh more employees will come under provident fund (EPF), pension (EPS) and insurance (EDLI) cover. The ceiling was last revised in September 2014; the extra yearly cost is estimated at ₹11,339 crore.
Exam angleNew EPFO wage ceiling (₹25,000); Labour & Employment Ministry
India's real GDP grows 7.8% in April–June 2026 (Q1 FY27), above RBI's 7% estimate
The Ministry of Statistics and Programme Implementation (MoSPI) released data on 31 August 2026 showing India's real GDP grew 7.8% in April–June 2026, the first quarter of 2026-27, against 6.9% a year earlier and the RBI's estimate of 7%. Real GVA grew 8.2% and nominal GDP 10.3%. Manufacturing grew 9.2% and gross fixed capital formation 11.9%.
UPI completes 10 years; launched by NPCI on 25 August 2016, now in 11 countries
The Unified Payments Interface (UPI), launched by the National Payments Corporation of India (NPCI) on 25 August 2016, completed 10 years on 25 August 2026. Annual transactions grew from 1.78 crore in 2016-17 to over 24,162 crore in 2025-26, and the IMF calls it the world's largest real-time payment system by volume. UPI now works in 11 countries, including the UAE, France, Singapore and Mauritius.
Exam angleUPI launch date 25 Aug 2016; developer NPCI
Cabinet approves ₹23,731-crore GOBARdhan National Circular Bioenergy Scheme for compressed biogas
On 6 August 2026, the Union Cabinet approved the GOBARdhan (Galvanizing Organic Bio-Agro Resources Dhan) National Circular Bioenergy Scheme with an outlay of ₹23,731 crore for 2026-27 to 2035-36. Run by the Ministry of Petroleum and Natural Gas, it aims to raise compressed biogas (CBG) output nearly tenfold. CBG blending targets are 3% in 2026-27, 4% in 2027-28 and 5% from 2028-29.
Exam angleOutlay ₹23,731 crore; CBG blending 5% from 2028-29
RBI keeps repo rate unchanged at 5.25% with neutral stance; FY27 growth forecast raised to 6.7%
On 5 August 2026, the RBI's Monetary Policy Committee under Governor Sanjay Malhotra unanimously kept the policy repo rate at 5.25% and retained a neutral stance. The SDF rate stayed at 5% and the MSF rate and Bank Rate at 5.5%. The RBI projected real GDP growth of 6.7% for 2026-27.
CCEA approves BHAVYA-Rasayan scheme for three dedicated chemical parks (₹3,030 crore)
On 24 July 2026, the Cabinet Committee on Economic Affairs approved the BHAVYA-Rasayan scheme, announced in the Union Budget 2026-27, to set up three dedicated chemical parks. The outlay is ₹3,030 crore for 2026-27 to 2030-31. The Centre will give up to ₹1,000 crore per park, and each state must contribute at least ₹500 crore.
Exam angleNumber of parks and Centre's grant per park
India joins WTO Agreement on Fisheries Subsidies as the 123rd member to accept it
On 20 July 2026, India deposited its instrument of acceptance of the WTO Agreement on Fisheries Subsidies, becoming the 123rd WTO member to accept it. The agreement was adopted at the 12th Ministerial Conference (MC12) in Geneva in June 2022 and entered into force on 15 September 2025. It bans subsidies for illegal, unreported and unregulated fishing and for fishing overfished stocks.
Exam angleIndia's position (123rd); where the agreement was adopted
India–UK trade agreement (CETA) and Double Contribution Convention come into force
The India–UK Comprehensive Economic and Trade Agreement (CETA) and the Double Contribution Convention came into force on 15 July 2026. The UK gives zero-duty access to about 99% of India's exports. Under the convention, eligible Indian professionals on temporary assignments in the UK are exempt from paying social security there for up to five years. CETA was signed in London in July 2025.
Exam angleDate of entry into force; DCC exemption period
Cabinet approves ₹62,500-crore Mobile Phone Manufacturing Scheme for 2026-27 to 2030-31
On 15 July 2026, the Union Cabinet approved the Mobile Phone Manufacturing Scheme with an outlay of ₹62,500 crore for five years (2026-27 to 2030-31). It gives an incentive of 2.25% to 5% on eligible sales, up to 1.5% extra for domestic sourcing of components and an additional 3% for Indian brands' design and R&D. It targets about 60,000 direct jobs.
Modified UDAN scheme launched with ₹28,840 crore outlay over 10 years
On 4 July 2026 at Jodhpur, the Prime Minister launched the Modified UDAN (regional connectivity) Scheme with an outlay of ₹28,840 crore over the next 10 years. It plans 100 aerodromes from existing unserved airstrips, about 200 helipads, operations and maintenance support and viability gap funding for regional flights. The Union Cabinet had approved it on 25 March 2026.
Exam angleOutlay and duration of Modified UDAN; launch city
On 19 June 2026 PM Narendra Modi disbursed incentives worth about Rs 2,400 crore under the Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY). It is an employment-linked incentive scheme that supports first-time employees, encourages employers to create jobs and widens social security coverage. Nearly 10 lakh beneficiaries have received incentives after completing six months in their first jobs.
Exam anglePM-VBRY: employment-linked incentive for first-time employees
UPI launched at Galeries Lafayette in Nice, France on 16 June; goes live in Greece through Eurobank
On 16 June 2026 Commerce Minister Piyush Goyal launched UPI payments at Galeries Lafayette in Nice, France, with NPCI International (NIPL) and Lyra Collect, so Indian travellers can pay through familiar apps. On 30 June he said UPI is now live in Greece through Eurobank. Earlier, on 3 June, UPI was launched in Cambodia through a QR payment link with Bakong's KHQR.
Exam angleUPI in June 2026: Cambodia, France (Nice), Greece (Eurobank)
RBI's Monetary Policy Committee keeps repo rate unchanged at 5.25% with a neutral stance
In the bi-monthly policy announced by Governor Sanjay Malhotra on 5 June 2026, the RBI's Monetary Policy Committee unanimously kept the policy repo rate unchanged at 5.25% with a neutral stance. The RBI cut its GDP growth projection for the year to 6.6% from 6.9% and raised its CPI inflation projection to 5.1% from 4.6%. The MPC is a six-member body chaired by the RBI Governor.
India–Oman CEPA comes into force: duty-free access on 98% of Oman's tariff lines
The India–Oman Comprehensive Economic Partnership Agreement (CEPA) came into force on 1 June 2026. India gets duty-free access on 98% of Oman's tariff lines, covering over 99% of India's exports to Oman, benefiting textiles, pharma, gems and jewellery and MSMEs. Oman has also committed to lift its decades-old ban on exporting unpolished marble, so craftsmen in Rajasthan and Andhra Pradesh can source raw material directly.
Exam angleIn force 1 June 2026; 98% tariff lines duty-free
RBI approves record surplus transfer of about Rs 2.86 lakh crore to the Centre for 2025-26
On 22 May 2026 the 623rd meeting of the RBI Central Board, chaired by Governor Sanjay Malhotra, approved a record surplus transfer of about Rs 2.86 lakh crore to the Central Government for 2025-26. This is above the previous record of Rs 2.69 lakh crore for 2024-25. The board kept the Contingent Risk Buffer at 6.5% of the RBI balance sheet.
Rs 175 crore 'Coffees of Nagaland' Mission launched to build a premium coffee economy
On 18 May 2026 Union Minister of Development of North Eastern Region Jyotiraditya Scindia launched the Rs 175 crore 'Coffees of Nagaland' Mission, a cluster-based coffee value chain mission. Pilot clusters are Tuophema village (Kohima district) for Arabica and Ghotovi village (Niuland district) for Robusta. It will promote organic certification, GI tagging and traceability.
Cabinet raises MSP of 14 kharif crops for 2026-27; paddy (Grade A) at Rs 2,461 per quintal
On 13 May 2026 the Union Cabinet approved higher Minimum Support Prices for 14 kharif crops for marketing season 2026-27. The biggest rise was for sunflower seed (Rs 622 per quintal), followed by cotton (Rs 557). MSP for Grade A paddy was fixed at Rs 2,461 and for bajra at Rs 2,900 per quintal. The expected payout to farmers is about Rs 2.6 lakh crore.
Rs 37,500 crore scheme to promote surface coal and lignite gasification approved
On 13 May 2026 the Union Cabinet approved a Scheme for Promotion of Surface Coal and Lignite Gasification Projects with an outlay of Rs 37,500 crore. It aims to gasify about 75 million tonnes of coal and lignite to make syngas and downstream products. The same meeting approved a 134-km semi-high-speed rail corridor linking Dholera with Ahmedabad at a cost of Rs 20,667 crore.
Cabinet approves Bharat Maritime Insurance Pool with a sovereign guarantee of Rs 12,980 crore
On 18 April 2026 the Union Cabinet approved the Bharat Maritime Insurance (BMI) Pool, backed by a sovereign guarantee of Rs 12,980 crore. Member insurers will cover hull and machinery, cargo, protection and indemnity (P&I) and war risks for Indian-flagged ships and vessels trading to or from India, with combined capacity of about Rs 950 crore. It aims to cut reliance on the International Group of P&I Clubs.
Exam angleBMI Pool: sovereign guarantee Rs 12,980 crore
India's total exports reach a record USD 860.09 billion in 2025-26, up 4.22%
Commerce Minister Piyush Goyal announced on 16 April 2026 that India's total exports (goods and services) reached a record USD 860.09 billion in 2025-26, up 4.22 per cent from USD 825.26 billion in 2024-25. He said the milestone was reached despite global headwinds.
Exam angleFY26 exports: USD 860.09 bn (record), up 4.22%
RBI keeps repo rate unchanged at 5.25% with neutral stance in first MPC meeting of 2026-27
On 8 April 2026 the RBI's Monetary Policy Committee unanimously kept the repo rate at 5.25 per cent and the stance neutral in its first meeting of 2026-27. It projected CPI inflation for 2026-27 at 4.6 per cent. The MPC cited the West Asia conflict and high crude oil prices as risks.
Exam angleRepo rate 5.25% (unchanged), neutral stance, April 2026
River Basin Management Scheme extended to 2030-31 with an outlay of Rs 2,183 crore
In April 2026 the Centre approved continuing the River Basin Management (RBM) Scheme for the 16th Finance Commission period, 2026-27 to 2030-31, with Rs 2,183 crore. The previous phase (2021-22 to 2025-26) had Rs 1,276 crore. The Ministry of Jal Shakti scheme supports basin-level water planning, with special focus on the Brahmaputra, Barak, Teesta and Indus basins.
Exam angleRBM Scheme: Jal Shakti; Rs 2,183 crore for 2026-31
Cabinet approves Modified UDAN for 10 years with Rs 28,840 crore: 100 airports, 200 helipads
On 25 March 2026 the Union Cabinet approved the Regional Connectivity Scheme – Modified UDAN for ten years, FY 2026-27 to FY 2035-36, with an outlay of Rs 28,840 crore. It plans to develop 100 airports from unserved airstrips and 200 helipads, and gives operation and maintenance support to regional aerodromes.
Cabinet approves BHAVYA: Rs 33,660 crore for 100 plug-and-play industrial parks
On 18 March 2026 the Union Cabinet approved the Bharat Audyogik Vikas Yojna (BHAVYA) with an outlay of Rs 33,660 crore to develop 100 plug-and-play industrial parks of 100 to 1,000 acres. Parks get central support of up to Rs 1 crore per acre and are chosen in challenge mode. It is implemented through NICDC under DPIIT and is expected to create about 15 lakh direct jobs.
Exam angleBHAVYA: 100 parks, Rs 33,660 crore, via NICDC (DPIIT)
Small Hydro Power Development Scheme approved for 2026-27 to 2030-31 with Rs 2,584 crore
On 18 March 2026 the Union Cabinet approved the Small Hydro Power Development Scheme for 2026-27 to 2030-31 with an outlay of over Rs 2,584 crore. It aims to add about 1,500 MW of small hydro capacity and draw about Rs 15,000 crore of investment, mainly in remote and hilly areas. States will also get help to prepare project reports for about 200 more projects.
Exam angleTarget about 1,500 MW small hydro by 2030-31
Hurun Global Rich List 2026: India has 308 billionaires, third after the US and China
The Hurun Global Rich List 2026, released in March 2026, counted 308 billionaires in India. India remained the third-largest billionaire hub after the United States and China. Mukesh Ambani was the richest Indian and Asian, and Elon Musk topped the global list; the number of billionaires worldwide crossed 4,000 for the first time.
Exam angleIndia: 308 billionaires, 3rd globally; richest Indian Mukesh Ambani
PM inaugurates Micron's semiconductor ATMP plant at Sanand; first made-in-India memory modules shipped
On 28 February 2026, PM Narendra Modi inaugurated the semiconductor Assembly, Test and Packaging (ATMP) facility of Micron Semiconductor Technology India at Sanand, Gujarat. Commercial production and shipment of the first made-in-India semiconductor memory modules began from the plant. The PM said that while oil shaped the last century, microchips will shape this one.
India–US interim trade agreement framework: US tariff on Indian goods cut from 50% to 18%
Following the India–US joint statement on the framework for an Interim Trade Agreement, Commerce Minister Piyush Goyal said on 7 February 2026 that the US reciprocal tariff on Indian exports falls from 50% to 18%, and items such as spices, tea, coffee, cashew and mango will face zero US duty. Maize, wheat, rice, sugar, soybean, poultry and dairy were kept out of India's concessions to protect farmers.
RBI keeps repo rate unchanged at 5.25% in last policy of 2025-26
On 6 February 2026, in the sixth and final bi-monthly policy of 2025-26, RBI Governor Sanjay Malhotra announced that the Monetary Policy Committee had unanimously kept the repo rate at 5.25%. The RBI had cut the rate by 25 basis points in December 2025. It also proposed a framework to compensate customers up to ₹25,000 for losses in small-value fraudulent electronic transactions.
Budget: ₹10,000 crore Biopharma SHAKTI, India Semiconductor Mission 2.0, ECMS outlay raised to ₹40,000 crore
The Union Budget 2026-27 announced Biopharma SHAKTI with ₹10,000 crore over 5 years to build domestic production of biologics and biosimilars, including 3 new NIPERs and upgrading 7 existing ones. It also launched India Semiconductor Mission (ISM) 2.0, raised the Electronics Components Manufacturing Scheme outlay to ₹40,000 crore, and announced a scheme for rare earth permanent magnets, 3 chemical parks and a ₹10,000 crore container manufacturing scheme.
Budget: ₹10,000 crore SME Growth Fund; STT on futures raised from 0.02% to 0.05%
The Union Budget 2026-27 set up a dedicated ₹10,000 crore SME Growth Fund to create 'Champion' SMEs and topped up the Self-Reliant India Fund with ₹2,000 crore. TReDS is to become the settlement platform for all CPSE purchases from MSMEs. Securities Transaction Tax on futures was raised from 0.02% to 0.05%, and on options premium and exercise to 0.15%.
India and the EU announce conclusion of their free trade agreement, India's biggest FTA
At the India–EU Summit in New Delhi on 27 January 2026, India and the European Union announced the conclusion of negotiations on their free trade agreement, dubbed the 'mother of all deals'. Prime Minister Narendra Modi called it India's biggest free trade deal.
Exam anglePartner of India's biggest FTA; date announced
Cabinet extends Atal Pension Yojana to 2030-31 and approves ₹5,000 crore equity for SIDBI
On 21 January 2026, the Union Cabinet approved continuing the Atal Pension Yojana up to 2030-31, with support for promotion and gap funding; it had over 8.66 crore subscribers, and gives a guaranteed pension of ₹1,000–5,000 a month from age 60. The Cabinet also approved ₹5,000 crore equity support to SIDBI, to be released in three tranches (₹3,000 crore in 2025-26 and ₹1,000 crore each in 2026-27 and 2027-28).
Exam angleAPY extended up to 2030-31; SIDBI equity ₹5,000 crore
Startup India completes 10 years on National Startup Day; over 2 lakh DPIIT-recognised startups
On 16 January 2026, National Startup Day, Prime Minister Narendra Modi attended a programme at Bharat Mandapam, New Delhi, marking ten years of Startup India, launched on 16 January 2016. More than 2 lakh startups have been recognised by DPIIT, and the Prime Minister described India as the world's third-largest startup ecosystem.
Exam angleLaunch date of Startup India; National Startup Day (16 Jan)
NSO's First Advance Estimates put India's real GDP growth for 2025-26 at 7.4%
On 7 January 2026, the National Statistics Office (MoSPI) released the First Advance Estimates of GDP for 2025-26. Real GDP is estimated to grow by 7.4%, against 6.5% in 2024-25, and nominal GDP by 8.0%. Real GVA is estimated to grow by 7.3%, led by services.
Exam angleFAE real GDP growth 2025-26; releasing body (NSO, MoSPI)
India and New Zealand conclude FTA talks in nine months; zero duty on 100% of Indian exports
On 22 December 2025, India and New Zealand announced the conclusion of Free Trade Agreement negotiations launched on 16 March 2025, India's fastest FTA with a developed country. New Zealand will give zero-duty access to 100% of India's exports and committed USD 20 billion of investment over 15 years. India kept dairy, sugar, onions, spices and edible oils out of market access.
Exam angleFastest FTA with a developed country; USD 20 bn investment pledge
India and Oman sign CEPA in Muscat; zero duty on 98.08% of Oman's tariff lines
On 18 December 2025, in the presence of PM Narendra Modi and Sultan Haitham bin Tarik, India and Oman signed a Comprehensive Economic Partnership Agreement in Muscat. Oman gives zero-duty access on 98.08% of its tariff lines, covering 99.38% of India's exports by value. It was India's second FTA in six months after the UK and includes the first-ever commitment by any country on traditional medicine services.
Parliament passes Sabka Bima Sabki Raksha Bill allowing up to 100% FDI in insurance companies
On 17 December 2025, Parliament passed the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025. It allows up to 100% FDI in Indian insurance companies and amends the Insurance Act, 1938, the LIC Act, 1956 and the IRDA Act, 1999. The net owned fund requirement for foreign reinsurance branches was cut from ₹5,000 crore to ₹1,000 crore, and a Policyholders' Education and Protection Fund was created.
Exam angleInsurance FDI cap 100%; three Acts amended
RBI cuts repo rate by 25 bps to 5.25%; 2025-26 GDP growth forecast raised to 7.3%
On 5 December 2025, the RBI's Monetary Policy Committee unanimously cut the policy repo rate by 25 basis points to 5.25% and kept a neutral stance. The SDF rate became 5.00% and the MSF rate and Bank Rate 5.50%. GDP growth for 2025-26 was projected at 7.3% (up from 6.8%) and CPI inflation at 2.0%.
Exam angleRepo 5.25%; GDP projection 7.3%; CPI projection 2.0%