Current Affairs

The Reserve Bank of India (RBI)

The Reserve Bank of India (RBI) has signed a Memorandum of Understanding (MoU) with the European Securities and Markets Authority (ESMA) during the recent visit of the President of the European Council and the President of the European Commission to India.

National Payments Corporation of India

Credit-focused fintech platform ZET has received approval from the National Payments Corporation of India (NPCI) to operate as a Third-Party Application Provider (TPAP), enabling it to enter the Unified Payments Interface (UPI) ecosystem.

The International Monetary Fund (IMF)

The International Monetary Fund (IMF) has upgraded its forecast for Indias real gross domestic product (GDP) growth in the current fiscal year 2025 26 (FY26) to 7.3 percent. This represents a significant upward revision of 0.7 percentage point compared with the IMFs previous estimates from late 2025.

The Reserve Bank of India (RBI)

The Reserve Bank of India (RBI) has issued the Foreign Exchange Management (Guarantees) Regulations, 2026, providing a comprehensive framework for guarantees involving persons resident outside India.

The UN Department of Economic and Social Affairs (UNDESA)

The UN Department of Economic and Social Affairs (UNDESA) released the World Economic Situation and Prospects 2026 report. It predicts that India will grow at 6.6 percent in the 2026-27 financial year and 6.8 percent in the 2027-28 financial year.

Indias real GDP growth rate

Indias real GDP growth rate has been projected at 7.4 percent for FY 2025 26, up from 6.5 percent in FY 2024 25, according to the advanced estimates released by the Ministry of Statistics and Programme Implementation on 7 January 2026.

Indias pharmaceutical exports reached $30.47 billion in FY 2024 25

Indias pharmaceutical exports reached $30.47 billion in FY 2024 25, registering a year-on-year growth of 9.4 percent, and are on track to surpass last years performance in the current financial year, the Pharmaceuticals Export Promotion Council of India (PHARMEXCIL) informed Commerce Secretary Rajesh Agrawal on 5 January 2026.

Goods and Services Tax (GST)

Tobacco products and pan masala products are set to face a new tax structure from February 1. This comes as the Centre rolls out additional excise duty and a health cess, above the current GST rates.

Goods and Services Tax (GST)

The gross Goods and Services Tax (GST) collections for December 2025 were at Rs.1.75 lakh crore. The collection rose 6.1 against Rs.1.64 lakh crore in December 2024. Local GST revenue rose 1.2 year-on-year to Rs.1.22 lakh crore.