CURRENT AFFAIRS

The World Economic Forum recently released its Chief Economists Outlook Report (May 2026). The report predicts a weakening of global economic growth. However, India and the United States are identified as relatively strong economies. The report also highlights the West Asia crisis, the blockade of the Strait of Hormuz, inflation, and the impact of artificial intelligence (AI).

PM SVANidhi has emerged as a major initiative supporting vendors working across India’s informal urban economy. Beyond providing collateral-free loans, the scheme has encouraged digital adoption, improved access to institutional credit and expanded social security coverage. 

The Indian Rupee recently fell beyond ₹96 per US Dollar, showing strong pressure on India’s foreign exchange system.

Recently, in the context of rising concerns over the Indian economy amid the West Asia crisis, the “3F” framework—Fuel, Fertiliser, and Foreign Exchange—has been highlighted.

Recently, during the inauguration of the Defence Manufacturing Complex of private sector company NIBE Limited (NIBE Group) at Shirdi, Maharashtra, the Defence Minister stated that the private sector can play a decisive role in transforming India into a Global Defence Manufacturing Hub. 

Due to rapid economic activity, increasing urbanization, and changing weather patterns, electricity demand in India is reaching record levels.

The Ministry of Textiles recently launched the Bharat Tex 2026 Event App.

The Government of India has banned sugar exports until September 30, 2026.

The number of self-employed small traders and unregistered businesses in India is growing rapidly, but their incomes remain extremely low.

The Indian government has implemented a new Standard Operating Procedure (SOP) to expedite and make the foreign direct investment (FDI) approval process more transparent.