Current Context: Government will implement the next-generation GST reform from 22 September 2025 with a simplified two-rate structure and digital filing. ABOUT GST REFORM 2025 New Structure: Two main GST slabs – 5% and 18%. New High Rate: 40% GST on luxury and sin goods (pan masala, cigarettes, etc.). Ease of Filing: Faster refunds, digital filing, and reduced disputes. BENEFITS OF REFORMS Social Protection: Exemption on GST for insurance and essential medicines. Lower Prices, Higher Demand: Reduced rates increase consumption and savings. Support for MSMEs: Lower input costs for cement, auto parts, handicrafts. Ease of Living: Simpler structure → fewer....Read More

Current Context : Jane Street Group (US firm) filed an appeal in the Securities Appellate Tribunal (SAT) against SEBI, alleging market manipulation. About SAT Established under: SEBI Act, 1992. Type: Quasi-judicial statutory body. Jurisdiction: Entire India. Headquarters: Mumbai. Functions Hears appeals against orders of: SEBI, IRDAI, Can be approached by any aggrieved person (companies, investors, intermediaries). Composition Presiding Officer: Retired or sitting SC Judge / Chief Justice / HC Judge with 7+ years experience. Judicial Members: HC Judges (5+ years). Technical Members: Senior govt. officials or experts with 15+ years experience in finance/securities. Appointed by: Central Government in consultation with....Read More

Current Context : India’s Foreign Direct Investment (FDI) inflows rose 15% year-on-year to USD 18.62 billion in April–June FY26, compared to USD 16.17 billion in the same quarter last year. USA emerged as the largest investor, with inflows tripling to USD 5.61 billion. ABOUT FDI Meaning: Investment by a company or individual from one country into business interests in another country. Law: Governed under Foreign Exchange Management Act (FEMA). Regulator: Reserve Bank of India (RBI). RELEVANT DATA : Total FDI (Equity + Reinvested Earnings + Other Capital): USD 25.2 billion. Top Sources: USA (USD 5.61 bn), Singapore (USD 4.59 bn),....Read More

Current Context : Indian Highways Management Company Limited (IHMCL), promoted by NHAI, signed an agreement with ICICI Bank. India’s first comprehensive MLFF tolling system to be implemented at Choryasi Fee Plaza, Gujarat (NH-48). About MLFF System A barrier-less tolling technology. Uses: FASTag reading Vehicle Registration Number (VRN) via RFID Readers & ANPR Cameras About NHAI Statutory body under Ministry of Road Transport & Highways. Established: 1995 (under NHAI Act, 1988). Composition: Chairman + max. 5 full-time Members 4 part-time Members (Secretaries of RT&H, Expenditure, Planning, and DG Roads). Mandate: Develop, maintain, and manage National Highways.Read More

Current Context : The Quarterly PLFS (April–June 2025) and Monthly PLFS (July 2025) have been released. ABOUT PLFS Conducted by: National Statistics Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI). Objective: To provide data on: Labour Force Participation Rate (LFPR) Worker Population Ratio (WPR) Unemployment Rate (UR) Distribution of workers by employment status and industry of work. Coverage & Frequency Monthly Estimates: For rural and urban areas under Current Weekly Status (CWS). Annual Estimates: For both rural and urban areas under Usual Status (US) and CWS. Reference Periods: CWS: 7 days US: 365 daysRead More

Current Context : The National Payments Corporation of India (NPCI) may discontinue pull transactions on UPI in the future to reduce fraud. ABOUT PUSH AND PULL TRANSACTIONS Push Transactions: Initiated by the payer. Example: Scanning QR code or entering UPI ID to make payment. Pull Transactions: Initiated by the beneficiary. Transaction completes once payer enters PIN for approval. Examples: Cheques, debit card payments.Read More

Current Context : The Comptroller and Auditor General (CAG) has reported that as of 2023-24, the Central Government has failed to transfer ₹3.69 lakh crore worth of cess collections to their designated funds. ABOUT CESS Definition: A cess is a tax on tax levied for a specific purpose until the required funds are collected. Examples: Swachh Bharat Cess for cleanliness drives Key Features: Paid by the public, added to their basic tax liability Imposed over and above existing taxes Difference from Regular Taxes: Collection & Use: Taxes like income tax → kept in Consolidated Fund of India (CFI) and used....Read More

Current Context: The Reserve Bank of India has given ‘in-principle’ approval to AU Small Finance Bank to change into a universal bank. It is the first such approval in 10 years. About Universal Bank Licence: Allows a bank to offer all types of banking services (commercial + investment) under one roof. Last given in 2014 to Bandhan Bank and IDFC Bank. Eligibility for Small Finance Bank to Become a Universal Bank: Scheduled bank status for at least 5 years. Listed on a recognised stock exchange. Minimum net worth: ₹1,000 crore. Profits in the last 2 years. Low bad loans –....Read More

Current Context : United States President Donald Trump has issued an executive order doubling tariffs on Indian imports to 50 percent due to India’s ongoing purchases of Russian crude oil. ABOUT THE EXECUTIVE ORDER Tariff Hike: Existing 25 percent increased by an additional 25 percent, now total 50 percent. Effective Timeline: 21 days from signing date. Scope: Applies to all goods entering the United States from India (excluding already shipped items). Reason Behind the Move To penalise India for its continued imports of Russian oil. Cited under United States Executive Orders 14024 and 14066 regarding Russia-Ukraine conflict. India’s Response Ministry....Read More

CURRENT CONTEXT : India officially became the world’s 5th largest aviation market, according to the World Air Transport Statistics (WATS) released by the International Air Transport Association (IATA). India handled 241 million air passengers, showing a growth of 11.1 percent from 2023. The Mumbai–Delhi air route was ranked as the 7th busiest air route in the world. ABOUT INDIA’S AVIATION GROWTH Passengers Handled (2024): 241 million Growth from 2023: 1 percent 2023 Passenger Data: 211 million India Overtook: Japan (205 million passengers) Top 4 Countries: United States – 876 million passengers China – 741 million passengers United Kingdom – 261....Read More