Economy

16 published UPSC current-affairs articles

Economy

EconomyGS-3

The Payment and Settlement Systems Act, 2007

The Central Government released an official clarification assuring citizens that everyday Person to Person (P2P) and general merchant UPI transactions will remain completely free. This reassurance followed widespread public apprehensions surrounding proposed amendments to Section 10A of the Payment and Settlement Systems Act (PSS Act), 2007, which were introduced through the Taxation and Other Laws (Amendment) Bill, 2026.

10 Aug 2026Read analysis →

Economy

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The ‘Seafarer-First’ initiative

Context: Union Minister of Ports, Shipping and Waterways launched a whole of government ‘Seafarer First’ response following attacks on two merchant vessels (MT Al Bahiyah and MT Mombasa) carrying Indian crew members in the Strait of Hormuz. About The ‘Seafarer First’ initiative: The ‘Seafarer First’ initiative is an emergency, whole of government contingency mechanism launched by India to safeguard, track, and support all Indian seafarers operating in high risk, conflict affected maritime zones across West Asia (including the Persian Gulf, Strait of Hormuz, and Gulf of Oman) regardless of the flag state of their vessels.

10 Aug 2026Read analysis →

Economy

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An Analysis of Financial Fraud Cases in India

The Union Ministry of Finance informed Parliament that Haryana recorded the third highest number of financial fraud cases in India over the past three financial years, following Maharashtra and Delhi. This disclosure underlines the rising scale of cyber enabled economic offenses across the country, prompting a closer look at institutional reporting mechanisms, state level recovery rates, and enforcement strategies deployed by bodies like the Indian Cyber Crime Coordination Centre.

10 Aug 2026Read analysis →

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Economy / Social Justice

The Venture Capital Fund for Scheduled Castes (VCF SC) was highlighted by the Government through a PIB feature showcasing how the scheme has enabled SC entrepreneurs to establish technology oriented enterprises, including advanced electronics manufacturing. Launched in December 2015 to promote entrepreneurship among Scheduled Castes through concessional finance. It seeks to shift the focus from job seeking to job creation by facilitating access to equity/venture capital for viable SC owned enterprises.

10 Aug 2026Read analysis →

Economy

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The Closing Auction Session (CAS)

Context: The Closing Auction Session (CAS) was introduced by Indian stock exchanges on August 3, 2026, for cash market stocks with derivatives, following SEBI ’s January 2026 directive. About The Closing Auction Session (CAS): The Closing Auction Session (CAS) is a dedicated 20 minute daily auction mechanism introduced in the cash market segment for equity stocks on which derivative (F&O) contracts are available.

10 Aug 2026Read analysis →

Economy

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Geographical Indications, Smart Materials, and the New Phase of the Khelo India Scheme

Researchers at DRDO’s Centre for Personnel Talent Management (CEPTAM) have developed a magnetorheological fluid based semi active vibration isolator for controlling vibrations in sensitive systems. Concurrently, developments span across the scaling of Geographical Indication tags toward a 2030 target and the allocation of ₹29,054 crore for the new phase of the Khelo India Scheme (2026 31) to target a top 10 finish at the 2036 Olympics.

10 Aug 2026Read analysis →

Economy

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Kazakhstan: Central Asian Pivot and India-Kazakhstan Strategic Partnership

India’s Chief Election Commissioner Gyanesh Kumar met Kazakhstan’s Ambassador Azamat Yeskarayev in New Delhi to discuss electoral management, capacity building, and staff training, highlighting growing institutional engagement between the two nations.

10 Aug 2026Read analysis →

Economy

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The National Urban Co-operative Finance and Development Corporation Limited

The Union Minister of Home Affairs and Cooperation inaugurated the new office of the National Urban Co operative Finance and Development Corporation Limited (NUCFDC) in Mumbai. This development in August 2026 also featured the launch of a specialized Security Operations Centre (SOC) for cybersecurity, marking a key milestone in the ongoing institutional expansion and modernization of India's cooperative banking framework.

9 Aug 2026Read analysis →

Economy

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Fiscal Federalism: Balancing Efficiency Versus Equity Concerns

The 16th Finance Commission released its report covering the period from 2026 to 2031. While maintaining vertical tax devolution at 41%, the commission has shifted its policy focus toward efficiency over equity in fiscal transfers. This shift involves halving the share of grants in aid from 19.4% to 8.3% and dismantling gap filling grants like Revenue Deficit Grants. These recommendations have triggered intense national and federal debates regarding their impact on fiscal federalism, the balance of power between the Union and States, and regional equity.

9 Aug 2026Read analysis →

Economy

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RBI Resumption of Urban Cooperative Bank Licensing after Two Decades

The Reserve Bank of India (RBI) has announced a landmark decision to resume the licensing of new Urban Cooperative Banks (UCBs) after a freeze lasting more than two decades. Alongside this development, the central bank intends to conduct a comprehensive review of the risk management guidelines governing rural cooperative banks. This dual initiative aims to strengthen and modernize the cooperative financial architecture. The RBI will soon release draft guidelines to invite feedback and inputs from various stakeholders, marking a major policy shift intended to enhance financial inclusion and promote a more robust cooperative banking sector across India.

7 Aug 2026Read analysis →

Economy

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The World Development Report 2026

The World Bank has released The World Development Report 2026. It has been published annually since 1978, each report provides in depth analysis and policy recommendations on a specific and important aspect of development The 2026 Report offers a clear framework to adopt, adapt, and advance for the road ahead to help countries capture AI’s benefits without wasting scarce resources or deepening dependence on any single supplier.

6 Aug 2026Read analysis →

Economy

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Quantum Shift in National Research Spending: Private Industry Surpasses Government

In the financial year 2023 24, private industry surpassed the government in India's total research and development (R&D) spending for the very first time. Private entities accounted for 51.8% of the total R&D expenditure, marking a significant structural shift in how national innovation is funded. This milestone highlights a growing transition where commercial and industrial sectors are taking a more active role in driving scientific and technological advancements within the country, even as overall national spending metrics present distinct challenges.

6 Aug 2026Read analysis →

Economy

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The Taxation and Other Laws (Amendment) Bill, 2026

The Lok Sabha has passed the Taxation and Other Laws (Amendment) Bill, 2026, which amends the Payment and Settlement Systems Act, 2007, the Income tax Act, 2025, and the Finance Act, 2026. The Bill seeks to boost Ease of Doing Business, attract Foreign Direct Investment (FDI), and strengthen India as a global investment hub. Crucially, it introduces a Merchant Discount Rate (MDR) for UPI transactions over ‣2,000 to ensure digital payment platform sustainability, provides tax exemptions on government securities for foreign institutional investors, relaxes tax conditions for offshore investment funds managed from India, and grants tax relief to electronics manufacturing and rough diamond trades in notified special zones.

5 Aug 2026Read analysis →

Economy

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Private Banks Step Up FCNR(B) Mobilisation with Higher Deposit Rates Ahead of RBI Swap Window Closure

With only two months remaining before the Reserve Bank of India's (RBI) concessional FCNR(B) swap window officially closes, leading private sector lenders—including HDFC Bank and ICICI Bank—have aggressively raised their FCNR(B) deposit rates. This strategic shift aims to enhance foreign currency inflow mobilisation and bridge the gap with public sector and foreign banks, which had previously captured a substantial share of these deposits. The move reflects heightened competition among domestic commercial banks to secure stable foreign currency liquidity and capitalise on the remaining duration of RBI's regulatory incentive before the concessional window lapses.

5 Aug 2026Read analysis →

Economy

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GI Tags: Scaling Traditional Wealth into Global Brands

Geographical Indication (GI) tags have emerged as a powerful tool for protecting India ’s cultural heritage while creating economic opportunities for local communities. A geographical indication (GI) is a sign used on products that have a specific geographical origin and possess qualities or a reputation that are due to that origin. In order to function as a GI, a sign must identify a product as originating in a given place.

4 Aug 2026Read analysis →

Economy

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Micro, Small and Medium Enterprises Development (Amendment) Bill, 2026

Rajya Sabha has passed the Micro, Small and Medium Enterprises Development (Amendment) Bill , 2026. Aim: To improve administrative structures and payment mechanisms while balancing interests of all parties. Settlement through TReDS mandatory for CPSEs: Every central public sector enterprise (CPSE) must settle all invoices for procurement of goods or services from MSMEs on the Trade Receivables Discounting System (TReDS).

4 Aug 2026Read analysis →

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