CURRENT AFFAIRS DESTINATION FOR UPSC & STATE CIVIL SERVICES EXAMINATIONS
In line with the Union Budget 2026–27 announcement by the Union Minister for Finance and Corporate Affairs, the Central Board of Indirect Taxes and Customs (CBIC) has introduced a new facilitation measure enabling deferred payment of Customs duty for a newly notified category of importers called Eligible Manufacturer Importers (EMIs). The guidelines have been issued through Circular No. 08/2026-Customs dated 28 February 2026. Key Features of the EMI Scheme Under Read More …
The Securities and Exchange Board of India (SEBI) has introduced a new mutual fund category called Life Cycle Funds, while discontinuing the existing Retirement Fund and Children’s Fund categories. Life Cycle Funds SEBI stated that Life Cycle Funds will have: These funds are designed to align investments with different life stages of investors, offering structured long-term financial planning options. Introduction of Sectoral Debt Funds In a significant move, SEBI has Read More …
India and the European Union have agreed to grant each other Most Favoured Nation (MFN) status for five years after their proposed free trade agreement (FTA) comes into force. This means neither side can offer more favourable tariff terms to other trading partners during this period. On January 27, the two sides announced that negotiations for the FTA had concluded. The pact—described as the “mother of all deals”—is expected to Read More …
India’s real GDP is projected to grow at 7.6 per cent in the current financial year 2025–26, according to estimates released by the Ministry of Statistics and Programme Implementation (MoSPI). Nominal GDP growth, which accounts for inflation, is expected to expand by 8.6 per cent. Growth Momentum Continues The Indian economy has shown steady performance in recent years: Earlier, official data recorded growth of 8.7% in 2021–22 and 7.2% in Read More …
The Union Ministry of Ports, Shipping & Waterways (MoPSW) has approved the development of a dedicated jetty with allied facilities for handling green hydrogen, ammonia and other liquid cargo at Paradip Port at an estimated cost of ₹797.17 crores.
The Controller General of Accounts (CGA) on 27 February unveiled two major initiatives — the Government Bank Dashboard and the Government Bank Manual — aimed at enhancing governance, transparency, and operational efficiency in banks handling government transactions. The CGA functions under the Department of Expenditure, Ministry of Finance. Government Bank Manual The Government Bank Manual provides a comprehensive and standardised framework for banks conducting government business. It clearly lays down: Read More …
The Government of India launched a Central Bank Digital Currency (CBDC)-based food subsidy distribution pilot under the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) in the Union Territory of Puducherry. The initiative integrates the Digital Rupee into India’s Direct Benefit Transfer framework to improve efficiency and transparency in food subsidy delivery. What is the Digital Rupee? The Digital Rupee (e-rupee) is a tokenised digital version of the Indian rupee issued Read More …
During the recent visit of the President of France to India, the two countries signed a protocol amending the India–France Double Taxation Avoidance Convention (DTAC), originally signed on 29 September 1992. Key Changes in the Amending Protocol What Is BEPS? The Organisation for Economic Co-operation and Development (OECD) / G20 BEPS Project includes: Over 140 countries participate in the BEPS Inclusive Framework. Why It Matters Sources: PIB & OECD
Union Finance Minister Nirmala Sitharaman has launched the second phase of the asset monetisation programme for Central ministries and public sector entities in New Delhi. The second phase, prepared by NITI Aayog in consultation with infrastructure ministries, is based on the Asset Monetisation Plan 2025–30 announced in the Union Budget 2025–26. Key Highlights of NMP 2.0 The Finance Minister noted that about 90% of the ₹6 lakh crore target under Read More …
The Ministry of Statistics and Programme Implementation (MoSPI) has initiated the process of revising the base year of India’s National Accounts to FY 2022–23, aiming to better reflect structural changes in the economy and improve GDP measurement. As part of this effort, an Advisory Committee on National Account Statistics (ACNAS) has been constituted under the chairmanship of noted economist B.N. Goldar. The panel will recommend updated methodologies and identify new Read More …
Union Commerce and Industry Minister Piyush Goyal on 20 February launched seven new interventions under the government’s Export Promotion Mission, aimed at boosting micro, small, and medium enterprises (MSMEs) and strengthening India’s global export competitiveness. The new initiatives focus on simplifying export procedures, improving MSME access to credit, raising quality standards, ensuring compliance with international regulations, and expanding global logistics and warehousing networks. The Mission seeks to address key bottlenecks Read More …
The Ministry of Fisheries Animal Husbandry and Dairying (MoFAHD) launched an Access Pass for Fishing in India’s Exclusive Economic Zone (EEZ) at KCC Ground Veraval, marking a major step toward modern and sustainable offshore fisheries governance. Purpose of the Access Pass The initiative aims to: India’s EEZ spans nearly 24 lakh sq km, offering huge potential for fisheries development, exports and livelihood generation. Why It Matters Most Indian fishing vessels Read More …
The Directorate General of Commercial Intelligence and Statistics (DGCI&S), under the Ministry of Commerce and Industry, has revised the base year of India’s Merchandise Trade Indices from 2012–13 to 2022–23 (2022–23 = 100) to reflect major structural changes in the economy and evolving trade patterns. What Are Merchandise Trade Indices? Merchandise Trade Indices measure changes in the unit values (prices) of India’s exports and imports over time.They help track price Read More …
Alphabet Inc., the parent of Google, has issued ultra-long-term debt known as century bonds, with maturities stretching into the 22nd century—financial instruments designed to outlast most of today’s workforce. Key Highlights What Are Century Bonds? Century bonds are rare debt securities with 100-year maturities, allowing issuers to lock in funding for generations.They are more commonly issued by governments or large institutions than corporations. Typical investors include pension funds and insurers Read More …
The Food Corporation of India (FCI) and the World Food Programme (WFP) signed a Memorandum of Understanding (MoU) on 18 February 2026 to supply rice for global humanitarian operations aimed at combating hunger. Key Highlights of the MoU The agreement will support WFP’s humanitarian food assistance programmes worldwide. About the Organisations Food Corporation of India (FCI): World Food Programme (WFP): Significance of the Agreement Source: PIB