Business, Economy & Banking Current Affairs MCQs

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Nagaland recorded the highest Goods and Services Tax growth in India at 37 percent, above the national average of 6.8 percent till December 2025. The achievement was announced by Governor Ajay Kumar Bhalla during the Budget Session of the Nagaland Assembly. Goods and Services Tax collections reached ₹987.38 crore by 31 January 2026. This exceeded the 2025–26 target of ₹949 crore. The figures show strong revenue performance and robust financial growth in the State.

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L&T Finance Ltd has launched a specialised programme called “Spoorthi” for women entrepreneurs to provide targeted financial support. The programme offers extended loan tenors up to 25 years for house property loans or Loan Against Property (LAP) for business expansion and working capital. Industrial LAP tenors of up to 12 years are also available, with enhanced eligibility norms, including higher debt-to-income ratios for greater financial flexibility. L&T Finance aims to leverage women borrowers’ strong repayment discipline to scale businesses and secure personal assets, promoting an inclusive financial ecosystem.

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India became the largest supplier of cotton products (apparel and home textiles) to the United States in 2025, replacing China, according to the United States Department of Agriculture (USDA). US imports of cotton products remained stable at 3.3 million tonnes, close to the 15-year average. Imports from China fell to about 0.5 million tonnes, while India exported around 0.6 million tonnes to the US. High US tariffs on China (10–125%) and diversification of supply chains reduced dependence on China. India benefits from vertically integrated textile supply chains, helping meet traceability standards. The Uyghur Forced Labor Prevention Act (UFLPA) and geopolitical risks also reduced US sourcing from China.

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Project Insight (PI) is an AI-driven tax administration system in India that tracks financial transactions and detects tax evasion. It is implemented by the Income Tax Department (ITD), Ministry of Finance, Government of India. It aims to enhance voluntary tax compliance by nudging taxpayers to report accurate income and strengthen tax enforcement by identifying high-risk evasion cases.

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Ministry of Micro Small and Medium Enterprises implements MSE-CDP (Micro and Small Enterprises Cluster Development Programme) to improve productivity and competitiveness of MSEs (Micro and Small Enterprises). The scheme provides financial assistance to set up Common Facility Centres (CFCs) and upgrade infrastructure in industrial clusters. It is a demand-driven scheme with proposals from States and Union Territories based on needs. 242 CFCs have been approved across India including 6 in Punjab, while 513 clusters approved under SFURTI (Scheme of Fund for Regeneration of Traditional Industries) since 2015–16.

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National Highways Authority of India (NHAI) launched its first public Infrastructure Investment Trust (InvIT), now listed on the Bombay Stock Exchange (BSE). InvIT (Infrastructure Investment Trust) is an investment vehicle similar to mutual funds/Real Estate Investment Trusts (REITs) for infrastructure assets. It allows investors to directly invest in infrastructure projects like highways. InvITs pool funds from investors, list on stock exchanges, and distribute income to unit holders. InvITs are regulated by Securities and Exchange Board of India (SEBI) under InvIT Regulations, 2014.

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The Reserve Bank of India has released the “Payments Vision 2028” roadmap with the theme “Shaping India’s Payment Frontier” to guide the future of digital payments. The vision outlines 15 key initiatives and marks a shift beyond the earlier “4Es” (Everyone, Everywhere, Every time) toward consumer trust, system resilience, and global expansion. It proposes a shared liability framework, where both the sender’s and receiver’s banks will jointly bear responsibility for unauthorised digital transactions. It aims to bring e-commerce marketplaces and payment aggregators under direct RBI regulation, strengthening oversight of digital payments.

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The Insurance Regulatory and Development Authority of India has recently introduced Indian Accounting Standards (Ind AS) for the insurance sector to modernise financial reporting practices. Ind AS were originally notified in 2015 by the Ministry of Corporate Affairs and are largely converged with the International Financial Reporting Standards, thereby aligning India’s accounting system with global norms. These standards follow a principle-based approach, focusing on fair value measurement, improved transparency, and enhanced financial disclosures, which helps in better decision-making and comparability.

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Skill India Digital Hub (SIDH) has been integrated with the e-Shram Portal to provide skilling opportunities to registered workers across all States. Through this integration, e-Shram beneficiaries can directly access training courses and upskilling programmes available on SIDH. SIDH enables issuance of digitally verifiable and tamper-proof credentials, improving trust, portability, and recognition of skills. The platform is integrated with Bhashini, allowing translation into 22 regional languages, promoting inclusivity.

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The Reserve Bank of India has launched a pilot Benchmark Issuance Strategy (BIS) to streamline state government borrowings starting from FY 2026–27. The strategy will be implemented across nine states, namely Andhra Pradesh, Bihar, Chhattisgarh, Kerala, Madhya Pradesh, Maharashtra, Rajasthan, Telangana, and Uttar Pradesh. Under this strategy, states will issue State Development Loans in predefined benchmark tenor buckets based on a pre-announced borrowing calendar. The BIS aims to bring greater structure, predictability, and standardisation to state borrowings in the debt market.