Current Affairs for Govt Exams

The Organisation for Economic Co-operation and Development (OECD) and the Food and Agriculture Organization (FAO) released their joint Agricultural Outlook 2026-2035, a 10-year assessment of agricultural commodities, biofuels and fish across global markets. It projects global agricultural and fish production to rise 13% over the decade, driven by productivity gains in Asia, Latin America and Sub-Saharan Africa. Southeast Asia and India are expected to account for about 39% of global consumption growth, while China's share declines. The report supports tracking SDG 2 (Zero Hunger). The OECD-FAO Agricultural Outlook is a joint annual report.

The International Monetary Fund (IMF), in its July 2026 World Economic Outlook (WEO) Update, lowered India's real GDP growth forecast for FY2026-27 to 6.4%, down from the 6.5% projected in April 2026, citing elevated global energy prices and trade uncertainty. The IMF raised India's FY28 forecast to 6.7% (from 6.5%), describing the dip as transient. India remains the world's fastest-growing major economy, well ahead of China (4.6%) and the United States (2.3%). The IMF retained global growth at 3.0% for 2026 and 3.4% for 2027. India's growth is powered by strong private consumption and a resilient services sector.

The Central Electricity Authority's Long-Term National Resource Adequacy Plan (2026-27 to 2035-36) estimates India will need 174 GW / 888 GWh of energy storage (BESS + pumped storage) by 2035-36, with peak demand projected at 458.7 GW (about 300 GW in FY27, after touching 271 GW in May 2026). The IESA 'India BESS Market Review' (released at India Energy Storage Week) reported installed BESS capacity jumped 11-fold in six months — 0.78 GWh (Dec 2025) to 8.7 GWh (H1 2026).

UNCTAD's World Investment Report 2026, titled "International Investment in a Turbulent Era", ranked India 11th globally in FDI inflows (up 2 places), with 2025 inflows surging ~44% to USD 38.89 billion. Top destinations: USA (USD 277 bn), Singapore (USD 151 bn), Hong Kong (USD 116 bn). Global FDI rose 6% to USD 1.6 trillion after two years of decline. On outflows, India climbed to 18th among source economies (outward FDI up 47% to USD 35.66 bn). Strategic sectors (semiconductors, digital infrastructure, AI, advanced manufacturing, energy transition) made up 44% of global greenfield project value in 2025, up from 16% in 2024.

Global Citizen Solutions released the 5th annual Global Passport Index 2026: Sweden topped (96.05), followed by Switzerland, Finland, Germany, Netherlands; Singapore 10th. India ranked 125th of 197 with a composite score of 45.1 — its highest in 5 years (down one place from 124th). Category-wise: 136th in Enhanced Mobility (50% weight), 118th in Quality of Life (up 11) and 94th in Investment (up 3). Do not confuse with the Henley Passport Index, where India stands 80th.

REC Limited and Power Finance Corporation approved a merger scheme effective 28 June 2026 with an 88:100 share exchange ratio, creating a power-sector financing giant with a combined loan book over Rs 11 lakh crore (subject to regulatory approvals).

India's foreign exchange reserves crossed $700 billion in June 2026, reaching about $702.78 billion as of 27 June, recovering from a May dip as the RBI defended a weak rupee (around 94/USD in mid-June).

At its 19 June 2026 Board meeting, SEBI approved reforms across buy-backs, AIFs, mutual funds and debt markets, reintroducing open-market buy-backs through stock exchanges from 1 August 2026 and aligning securitisation governance with the RBI framework.

In its Global Economic Prospects report, the World Bank raised India's FY 2026-27 GDP forecast to 6.6%, keeping India the fastest-growing major economy, with growth seen rebounding to 7.2% in FY28.

The World Bank's Global Economic Prospects projected global growth slowing to 2.5% in 2026, citing the Middle East conflict and energy price spikes, with South Asia moderating to 6.2% before recovering to 6.5% in 2027.

The RBI lowered its FY27 GDP growth forecast to 6.6% (from 6.9%) and raised its inflation forecast to 5.1% (from 4.6%), citing the West Asia conflict, higher energy prices and monsoon/El Nino uncertainty.

India's Index of Industrial Production expanded 4.9% year-on-year in April 2026 (released in June), above the 3.9% expected, with manufacturing rising a sharper 6.2%.

Retail (CPI) inflation rose to about 3.9% for May 2026 (released in June) from 3.5% in April - the highest in 16 months but below the RBI's 4% midpoint - with food inflation near 4.8% amid the West Asia conflict.

India's merchandise trade deficit widened to a record $28.4 billion in April 2026, with exports up 13.8% to $41.6 billion and imports up 10% to $71.9 billion, driven by a surge in oil, fuel and coal prices.

The RBI expanded the FAR to include all new 15-, 30- and 40-year government securities, removed investment and concentration limits for FPIs under the General Route, and raised equity caps for NRIs and OCIs.

Union Home and Cooperation Minister Amit Shah launched Bharat Taxi in Gujarat, India's first cooperative ride-hailing platform, designed to give drivers better earnings and ownership than commercial aggregators.

India's total exports (merchandise plus services) rose 4.22% to about $860.09 billion in FY26, though imports grew faster, widening the overall trade deficit.

Reporters Without Borders (RSF) ranked India 157th of 180 countries in the 2026 World Press Freedom Index, a fall of six places from the previous year.

NPCI introduced a UPI safety feature that displays the recipient's verified bank-registered name whenever users scan a QR code or enter a mobile number, replacing custom names and aliases to curb fraud.