CURRENT AFFAIRS

The government has authorised private entities accredited by the Quality Council of India (QCI) to act as Accredited Prospecting Agencies (APAs) under the Mines and Minerals (Development and Regulation) Act, 1957.

The International Monetary Fund (IMF), in its 2025 Article IV Staff Report, has once again awarded India’s national accounts—including GDP statistics—a C-grade, indicating the presence of methodological or coverage-related shortcomings that hinder effective economic surveillance.

The Union Government has approved the Textiles Focused Research, Assessment, Monitoring, Planning and Start-up (Tex-RAMPS) Scheme aimed at modernising India’s textile sector through innovation, data systems, and start-up support.

Economists project that India’s GDP growth for Q2 of FY26 will exceed the RBI’s estimate of 7%, potentially touching 7.3%—slightly below Q1’s strong 7.8% expansion. Despite the late-August 50% U.S. tariff hike, India’s economic momentum remains resilient.

The Ministry of Steel has launched a simplified registration facility called SARAL SIMS under the Steel Import Monitoring System (SIMS).The facility became effective on November 21 and aims to ease import procedures for small consignments and export-oriented shipments.

The Government of India has officially notified all Four Labour Codes, consolidating 29 labour laws into a unified, modern regulatory framework. This marks one of the most significant labour reforms since Independence, aimed at enhancing labour welfare, workplace safety, social security, and improving the ease of doing business.

Amidst growing global trade uncertainties and the imposition of a 50% tariff on Indian goods by the US, the Union Cabinet has approved a comprehensive Export Promotion Mission (EPM) worth ₹25,060 crore.

RBI’s Floating Rate Bonds (FRBs) have recently seen a surge in investor demand, as individuals move away from equities, gold, and traditional bank deposits toward safer, government-backed instruments offering higher and market-linked returns.

The 7th India-Canada Ministerial Dialogue on Trade and Investment was held in New Delhi on November 13, 2025.

A report by the G20 group, led by Nobel laureate Joseph Stiglitz, warns that global inequality has reached emergency levels.