10 October 2026
The Reserve Bank of India released Working Paper No. 01/2026, titled 'Data Gaps in State-Level Inflation: An Assessment for the Covid Period', on October 9, 2026.
It is written by Purnima Shaw and R. K. Sinha.
Official State-wise CPI inflation data are missing for four pandemic months, namely April and May 2020 and April and May 2021.
The authors use the granular data of the Reserve Bank's Inflation Expectations Survey of Households, which continued on a bimonthly basis during the pandemic, to estimate State-wise CPI-U inflation for those four months.
The estimates combine urban consumers' inflation perceptions, their three-months-ahead inflation expectations and past realised State-wise CPI-U inflation.
When aggregated, the State-wise estimates closely follow the all-India official CPI inflation series.
The paper argues that such estimates can support future research using State-level inflation time series, since State-wise inflation data matter under India's inflation-targeting framework.
Paper:
RBI Working Paper No. 01/2026
Authors:
Purnima Shaw and R. K. Sinha
Missing months:
April and May 2020, April and May 2021
Survey used:
Inflation Expectations Survey of Households (IESH)
Why it matters for exams: The paper links two examinable ideas, the CPI series and the Reserve Bank's Inflation Expectations Survey of Households, under the inflation-targeting framework.
Kerala PSCUPSCBank
In plain words
CPI Consumer Price Index — The retail price index whose combined all-India inflation rate is the Reserve Bank's nominal anchor under inflation targeting.
IESH Inflation Expectations Survey of Households — A bimonthly Reserve Bank survey of urban households on their perception of current inflation and their expectations for the months ahead.
10 October 2026
The Reserve Bank of India announced on 9 October 2026 an open market operation sale of Government of India securities for an aggregate amount of ₹25,000 crore.
The auction will be held on October 13, 2026 through a multi-security auction using the multiple price method, with no security-wise notified amount.
Six securities are on offer, including 7.88% GS 2030 maturing on 19-Mar-2030, 6.10% GS 2031 maturing on 12-Jul-2031, 7.95% GS 2032, 7.26% GS 2033, 7.18% GS 2033 and 7.10% GS 2034 maturing on 08-Apr-2034.
An OMO sale drains rupee liquidity from the banking system, because buyers pay the Reserve Bank for the securities they take.
It is the mirror image of an OMO purchase, which injects liquidity, and it sits alongside the variable rate reverse repo auctions the Reserve Bank has been conducting through October 2026.
Aggregate amount:
₹25,000 crore
Auction date:
October 13, 2026
Method:
multi-security auction, multiple price method
Securities on offer:
6, from 7.88% GS 2030 to 7.10% GS 2034
Why it matters for exams: Open market operations as a liquidity tool, and the difference between an OMO sale and an OMO purchase, are repeatedly asked in bank and UPSC economy papers.
Kerala PSCUPSCBank
In plain words
OMO Open Market Operations — Purchase or sale of government securities by the central bank to inject or drain liquidity in the banking system.
10 October 2026
The Reserve Bank of India announced on 9 October 2026 that it has cancelled the Certificate of Registration of 13 non-banking financial companies.
The cancellation was ordered in exercise of the powers conferred on the Reserve Bank by Section 45-IA(6) of the Reserve Bank of India Act, 1934.
The companies include Nakodar Finance Private Limited, Astrol Dealcom Pvt Ltd, Bhagyashri Trading Pvt Ltd, Britex Financial Services Pvt. Ltd., Delta Capital Market Ltd., Sarla Finance Pvt. Ltd. and Rajesh Fiscal Services Private Limited.
Once the certificate is cancelled, these companies cannot transact the business of a non-banking financial institution as defined in the Act.
A registration under Section 45-IA is the basic legal requirement for an NBFC to commence or carry on business, and the Reserve Bank can cancel it on grounds such as ceasing to carry on business or failing to comply with its conditions and directions.
Companies affected:
13 NBFCs
Legal provision:
Section 45-IA(6) of the Reserve Bank of India Act, 1934
Date:
9 October 2026
Why it matters for exams: The section of the RBI Act under which an NBFC registration is granted and cancelled is a standard banking awareness question.
Kerala PSCUPSCBank
In plain words
NBFC Non-Banking Financial Company — A company that lends and invests like a bank but cannot accept demand deposits or issue cheques drawn on itself.
10 October 2026
The Department of Posts, under the Ministry of Communications, and Blue Dart Express Limited signed an agreement in New Delhi on 9 October 2026 for India Post parcel services across the country.
Under it Blue Dart will use India Post's network of 1.64 lakh post offices to deliver parcels in urban, semi-urban and rural areas, including remote locations with limited facilities.
The service will cover prepaid as well as COD parcels, with OTP-based delivery authentication and real-time shipment tracking.
The stated aim is faster delivery, better coordination and a simpler parcel process built on easy-to-use technology.
For the Department of Posts it means growth in parcel business and closer links with the organised logistics sector; for Blue Dart it means wider reach and better service in remote areas.
The partnership is intended to strengthen logistics for India's growing e-commerce sector.
Parties:
Department of Posts and Blue Dart Express Limited
Date and place:
9 October 2026, New Delhi
Post office network:
1.64 lakh post offices
Delivery features:
COD parcels, OTP-based delivery authentication, real-time shipment tracking
Why it matters for exams: The size of the India Post network is a frequently asked figure, and public-private tie-ups in logistics are standard economy material.
Kerala PSCSSCBank
In plain words
COD Cash on Delivery — A payment option where the buyer pays for the parcel when it is handed over, not in advance.
10 October 2026
A detailed note on Next-Gen GST Process Reforms, flowing from the recommendations of the 57th GST Council meeting, was issued on 9 October 2026.
Registered taxpayers have risen from about 60 lakh in 2017 to about 1.70 crore as of September 2026.
As on 30 September 2026 the system had processed 3,053 crore invoice uploads and 833.82 crore e-way bills, while gross GST collections in April-September 2026 were about ₹12.46 lakh crore, up 11.6% year on year.
On registration, amendments to particulars will be accepted automatically except for a change in the Principal Place of Business, and cancellation applications will be auto-accepted in phases once pending returns are filed and dues paid.
On refunds, the acknowledgement period falls from 15 days to 10 days with deemed acknowledgement if no response issues, and 90% of claimed amounts are to be sanctioned for zero-rated and inverted duty cases based on risk assessment.
On disputes, no show cause notice will issue where the tax involved is below ₹10,000, the minimum penalty of ₹10,000 is removed for non-fraud cases, and the maximum general penalty falls from ₹25,000 to ₹10,000.
Late fees are waived for delayed returns of taxpayers with prior year turnover up to ₹5 crore if filed by the end of the due month.
GST was introduced on 1 July 2017.
Registered taxpayers:
about 1.70 crore as of September 2026
Invoice uploads:
3,053 crore as on 30 September 2026
E-way bills:
833.82 crore
Gross collections, April-September 2026:
₹12.46 lakh crore, up 11.6%
Refund acknowledgement period:
reduced from 15 days to 10 days
Why it matters for exams: GST numbers such as the taxpayer base and half-yearly collections, and the new refund and penalty thresholds, are frequent economy questions.
Kerala PSCUPSCSSCBank
In plain words
ITC Input Tax Credit — Credit a registered business can claim for the GST already paid on its purchases of goods and services.
PPoB Principal Place of Business — The main business location declared in a GST registration; changing it still needs approval.
10 October 2026
The 3rd International Bharat 6G Symposium 2026 was held at Yashobhoomi, Dwarka, New Delhi, alongside the India Mobile Congress 2026, and was organised by the Bharat 6G Alliance.
Five new agreements were exchanged with GSMA, one6G, the GTI Alliance, the 6G Innovation Forum (6G IF) Taiwan and VOICE, for joint research, testing and information sharing.
The Alliance released ten white papers and reports, including a progress report on shared 6G principles.
The symposium had over 75 speakers, including more than 30 international experts, and covered spectrum and WRC-27, AI-native networks, testbeds and global standards for IMT-2030.
The valedictory session was addressed by Dr Chandra Sekhar Pemmasani, Minister of State for Communications and Rural Development, who said India is moving from being a large telecom market to a telecom technology nation.
He said affordability, access and coverage should be design requirements for 6G rather than afterthoughts, and that terrestrial and satellite networks together can reach remote villages, islands and oceans.
The Department of Telecommunications also presented a curtain raiser for the Emerging Science, Technology and Innovation Conclave (ESTIC) 2026, to be held on 27-29 October 2026 at Bharat Mandapam.
The Bharat 6G Alliance was founded in July 2023 as an industry-led platform bringing together operators, startups, academia and research institutions.
Agreements exchanged:
5 (GSMA, one6G, GTI Alliance, 6G IF Taiwan, VOICE)
White papers released:
10
Venue:
Yashobhoomi, Dwarka, New Delhi
Bharat 6G Alliance founded:
July 2023
Why it matters for exams: The Bharat 6G Alliance, its founding year and its international partners are a likely science and technology question.
Kerala PSCUPSC
In plain words
IMT-2030 International Mobile Telecommunications-2030 — The ITU framework of requirements under which sixth generation mobile standards are being defined.
10 October 2026
Raksha Mantri Rajnath Singh presented the SIDM Champion Awards 2026 at the 8th Annual Session of the Society of Indian Defence Manufacturers in New Delhi on 9 October 2026.
Fifteen Champion Awards were given for indigenous technology development, product innovation, design, import substitution, manufacturing excellence and export contribution.
He said India's defence exports reached a record ₹38,424 crore in FY 2025-26, and that the target is ₹50,000 crore by 2029.
He recalled his call to raise the private sector's share of total defence production from about 24% to 50%.
Spending on research and development, he said, should be treated as an investment that strengthens operational readiness and competitiveness.
He added that national security increasingly depends on India's own capacity to design, develop, manufacture and control the technology its armed forces use.
Defence Secretary Rajesh Kumar Singh, Director General (Acquisition) A. Anbarasu and SIDM office bearers were present.
Defence exports, FY 2025-26:
₹38,424 crore
Export target by 2029:
₹50,000 crore
Private share of defence production:
about 24%, target 50%
Awards presented:
15 Champion Awards
Why it matters for exams: The defence export figure and the 24% to 50% private share target are directly quotable numbers for both PSC and UPSC answers.
Kerala PSCUPSCBank
In plain words
SIDM Society of Indian Defence Manufacturers — An industry body of Indian defence manufacturers that works as an interface between industry and the Ministry of Defence.
10 October 2026
The Scheduled Castes, Scheduled Tribes and Backward Classes Welfare Department said on 9 October 2026 that it had completed the 32 projects announced for it under the State's 100-day action plan.
The 'Dakshayani' self-employment assistance scheme, named after Dakshayani Velayudhan, gives a subsidy of up to ₹3.75 lakh to an individual Scheduled Caste woman entrepreneur and up to ₹11.25 lakh to a group.
The 'Priyadarshini' scheme offers an interest-free loan of up to ₹5 lakh to start a new production unit or expand an existing one.
'Panchami Gramam', a pilot for the comprehensive development of Scheduled Caste colonies, began in the Kongad constituency in Palakkad district and can be taken up wherever at least three Scheduled Caste families live.
A Special Purpose Vehicle was appointed for the Wayanad Tribal University and its office began functioning.
The department completed 1,000 study rooms for students and development work in 50 Ambedkar villages.
The State Backward Classes Development Corporation disbursed ₹200 crore in loans to 16,000 beneficiaries, and a Forest Rights Act portal was launched to issue rights documents online.
Projects completed:
32
Dakshayani subsidy, individual:
up to ₹3.75 lakh
Dakshayani subsidy, group:
up to ₹11.25 lakh
Loans by Backward Classes Development Corporation:
₹200 crore to 16,000 beneficiaries
Why it matters for exams: Scheme names, subsidy limits and the persons they are named after are a frequent Kerala PSC question pattern in welfare administration.
Kerala PSCUPSC
In plain words
SPV Special Purpose Vehicle — A separate body created to carry out one defined project, here the setting up of the Wayanad Tribal University.
FRA Forest Rights Act — The 2006 central law that recognises the forest land and resource rights of forest-dwelling Scheduled Tribes and other traditional forest dwellers.
10 October 2026
At Thennurkonam on the Vizhinjam-Poovar road in Thiruvananthapuram district on 9 October 2026, Chief Minister V.D. Satheesan laid the foundation stone for a new fishing harbour, opened the renovation of the existing harbour and distributed livelihood compensation.
The new fishing harbour costs ₹260 crore and is being built by Adani Vizhinjam Port Pvt. Ltd. as government-funded work under the concession agreement for the international port.
Its components include a 235 m breakwater, a 340 m fish landing wharf, a 400 m reclamation bund, two modern auction halls and about 12,285 sq m of parking.
The renovation of the existing Vizhinjam fishing harbour costs ₹90 crore, is to be completed in two years and is funded by the State through VISL.
A new breakwater costing ₹125 crore is being built by the Harbour Engineering Department to reduce wave turbulence inside both harbours.
A modern fish market of about 8,212 sq ft costing ₹2.76 crore will have 30 fish display outlets, shop rooms and freezer rooms.
Livelihood compensation of ₹35 crore was paid into the bank accounts of 1,335 beneficiaries whose boats must travel farther because of the international port's breakwater.
Fisheries Minister V.E. Abdul Gafoor presided over the function.
New fishing harbour:
₹260 crore
Renovation of existing harbour:
₹90 crore
New breakwater:
₹125 crore
Livelihood compensation:
₹35 crore to 1,335 beneficiaries
Modern fish market:
₹2.76 crore, about 8,212 sq ft
Why it matters for exams: Vizhinjam project figures and the fisheries works funded by the State under the port's concession agreement are a standing Kerala PSC and UPSC infrastructure topic.
Kerala PSCUPSC
In plain words
Breakwater Breakwater — A wall built out into the sea to break incoming waves and make the water inside a harbour calm.
9 October 2026
Brazil's national statistics institute IBGE reported that the IPCA, the country's official consumer price index, rose 0.82 per cent in September.
The 12-month accumulated rate reached 4.58 per cent.
The index has risen 3.95 per cent so far in 2026.
Housing was the group with the largest increase, at 2.31 per cent, contributing 0.35 percentage point to the month's result.
Residential electricity rose 7.98 per cent in September.
Fernando Gonçalves is the manager of the IPCA at IBGE.
IPCA, September:
0.82%
Accumulated over 12 months:
4.58%
Accumulated in 2026:
3.95%
Housing group:
2.31%
Residential electricity:
7.98%
Why it matters for exams: Brazil's IPCA is the inflation measure the Banco Central do Brasil targets, so its monthly figure is a standard economy question.
Kerala PSCUPSC
In plain words
IPCA Índice Nacional de Preços ao Consumidor Amplo — Brazil's official broad consumer price index, compiled by IBGE.
IBGE Instituto Brasileiro de Geografia e Estatística — Brazil's national institute of geography and statistics, its census and price-index agency.
9 October 2026
Senate President Davi Alcolumbre scheduled the first-round vote on PEC 221/2019 in the Senate plenary for Wednesday.
The proposal, already approved by the Câmara dos Deputados, reduces the working week to 40 hours without any cut in pay.
It is under discussion in the Senate plenary, with sessions held on 6, 7 and 8 October.
The rapporteur, Senator Omar Aziz of the PSD from Amazonas, rejected all 36 amendments filed up to that point.
Under Senate rules a proposed constitutional amendment needs five discussion sessions before the first-round vote and three more before the second-round vote.
Senators may still file amendments in the plenary.
Proposal:
PEC 221/2019
Working week after change:
40 hours
Amendments rejected by rapporteur:
36
Discussion sessions needed before first-round vote:
5
Why it matters for exams: It shows how a constitutional amendment moves through Brazil's two-chamber Congress and names the working-hours change at stake.
Kerala PSCUPSC
In plain words
PEC Proposta de Emenda à Constituição — A proposed amendment to Brazil's Constitution, which must pass two rounds of voting in each house of Congress.
6x1 scale six days of work followed by one day of rest — A shift pattern common in Brazilian retail and services that the amendment seeks to end.
9 October 2026
Medida Provisória nº 1.395, de 8 de outubro de 2026 opens extraordinary credit of R$ 7.520.000.000,00 in favour of the Ministério de Minas e Energia.
Of that amount, R$ 6.170.000.000,00 is for an economic subsidy for the production and import of road-use diesel oil, under Medida Provisória nº 1.363, de 2026.
The remaining R$ 1.350.000.000,00 is for an economic subsidy for the production and import of petroleum-derived fuels, under Medida Provisória nº 1.358, de 2026.
Both subsidies are carried in the budget unit of the Agência Nacional do Petróleo, Gás Natural e Biocombustíveis (ANP).
The measure takes effect on the date of its publication, and the official text notes publication in the Diário Oficial da União of 9.10.2026.
The Senate's own news service recorded the release as R$ 7,52 bilhões for fuel subsidies.
Total extraordinary credit:
R$ 7.520.000.000,00
For road diesel subsidy:
R$ 6.170.000.000,00
For petroleum-derived fuels:
R$ 1.350.000.000,00
Beneficiary ministry:
Ministério de Minas e Energia
Why it matters for exams: It is a clear example of a government using a provisional measure to open extraordinary credit for fuel subsidies, a recurring economy and governance theme.
Kerala PSCUPSC
In plain words
Medida Provisória Provisional Measure — An act with the force of law issued by Brazil's President in cases of urgency, which Congress must later confirm.
ANP Agência Nacional do Petróleo, Gás Natural e Biocombustíveis — Brazil's regulator for oil, natural gas and biofuels.
DOU Diário Oficial da União — Brazil's official federal gazette, where laws and measures are published.
9 October 2026
Defence Minister Rajnath Singh presented the SIDM Champion Awards 2026 at the 8th Annual Session of the Society of Indian Defence Manufacturers in New Delhi on 9 October 2026. Fifteen awards were given to organisations for indigenous technology development, product innovation, design, import substitution, manufacturing excellence and exports. Defence exports reached a record ₹38,424 crore in 2025-26, more than 60 per cent above the previous financial year. The target is ₹50,000 crore of defence exports by 2029. He recalled his call to raise the private sector's share of total defence production from about 24 per cent to 50 per cent. The theme of the session was 'Sovereign Capabilities, Contested Frontiers: Accelerating India's Strategic Autonomy in an Era of Disruption'. SIDM was founded in 2017. Of the 2025-26 exports, defence public sector undertakings accounted for 54.84 per cent and the private sector for 45.16 per cent.
Defence exports 2025-26:
₹38,424 crore
Growth over previous year:
more than 60 per cent
Export target:
₹50,000 crore by 2029
Awards presented:
15
Share of defence PSUs in exports:
54.84 per cent
Why it matters for exams: The latest defence export figure and the export target are among the most frequently asked defence economy facts.
Kerala PSCUPSCSSC
In plain words
SIDM Society of Indian Defence Manufacturers — An industry body founded in 2017 representing large defence firms, MSMEs, startups, academia and foreign original equipment manufacturers.
iDEX Innovations for Defence Excellence — A Ministry of Defence programme that funds startups and innovators to build defence technologies.
Positive Indigenisation List Positive Indigenisation List — A list of items that the armed forces may procure only from Indian sources after a stated date.
9 October 2026
The Reserve Bank of India announced on 9 October 2026 that it has launched the 75th round of its Order Books, Inventories and Capacity Utilisation Survey, known as OBICUS.
The reference period of this round is July to September 2026, the second quarter of 2026-27.
The Reserve Bank has been conducting OBICUS of the manufacturing sector on a quarterly basis since 2008.
The survey collects new orders received during the reference quarter, the backlog of orders at the beginning of the quarter, pending orders at the end of the quarter, and total inventories with a break-up between finished goods, work-in-progress and raw material.
It also collects item-wise production in quantity and value against installed capacity, and the reasons for changes in production or installed capacity. The level of capacity utilisation is estimated from these responses.
Selected manufacturing companies are approached by the Bank, and other manufacturing companies may take part by downloading the questionnaire from the Reserve Bank's website. Company level data are treated as confidential and never disclosed.
The survey is run by the Division of Enterprise Surveys, Department of Statistics and Information Management, and provides input for monetary policy formulation.
Round:
75th
Reference period:
July - September 2026 (Q2:2026-27)
Conducted since:
2008, quarterly
Sector covered:
Manufacturing
Why it matters for exams: Bank and civil services papers regularly ask which Reserve Bank survey measures capacity utilisation, its round number and its reference quarter.
Kerala PSCUPSCBank
In plain words
OBICUS Order Books, Inventories and Capacity Utilisation Survey — A quarterly Reserve Bank survey of manufacturing firms from which capacity utilisation is estimated.
Capacity utilisation Capacity utilisation — The share of installed production capacity that a factory actually uses.
9 October 2026
The Steeple Renewables Project, a solar farm in Nottinghamshire, was granted development consent by the Department for Energy Security and Net Zero, the Planning Inspectorate announced.
The project provides for approximately 450MW of solar energy generation and approximately 150MW of Battery Energy Storage System capacity.
The applicant is Steeple Solar Farm Limited.
The application was submitted on 14 May 2025 and accepted for examination on 11 June 2025, with a six-month examination.
The Examining Authority made its recommendations to the Secretary of State on 10 July 2026, and the decision was published on 9 October 2026.
The decision was made by Baroness Curran on behalf of the Energy Secretary's legal authority.
The Planning Inspectorate said this was the 115th energy application out of 183 applications examined to date, and that it was completed within the statutory timescale laid down in the Planning Act 2008.
Solar capacity:
approximately 450MW
Battery storage capacity:
approximately 150MW
County:
Nottinghamshire
Recommendation to Secretary of State:
10 July 2026
Why it matters for exams: It gives a named project with megawatt figures and shows how the United Kingdom consents large energy projects through a central Secretary of State rather than a local council.
UPSCSSC
In plain words
BESS Battery Energy Storage System — A battery installation that stores electricity and releases it when the grid needs it.
Development consent Development Consent Order — The single permission the UK grants for a nationally significant infrastructure project.
9 October 2026
The Ministry of Defence announced that Kuwait will buy an advanced air defence system worth £370 million from MARSS Systems Limited, an EOS company.
The system combines jammers, radars and interceptors managed through MARSS's NiDAR platform, an AI-enabled command and control centre.
The deal creates 100 new UK jobs in skilled engineering and manufacturing roles, with production based in Bristol, and will expand the company's UK offices.
The sale is part of the UK's Taskforce Sabre, which helps Gulf states quickly secure defence systems and weapons.
MARSS will integrate the sensors and effectors through 2027.
The United Kingdom has previously supplied Kuwait with Rapid Sentry, a ground-based air defence missile system, and the Royal Air Force's ORCUS system.
Luke Pollard MP, Minister for Defence Readiness and Industry, issued the statement.
Deal value:
£370 million
Supplier:
MARSS Systems Limited
UK jobs created:
100
Production base:
Bristol
Programme:
Taskforce Sabre
Why it matters for exams: Defence export deals with named values, named systems and a named programme are standard current affairs material, and this one shows how the UK uses a taskforce to sell into the Gulf.
UPSCSSC
In plain words
NiDAR NiDAR — MARSS's AI-enabled command and control platform that links jammers, radars and interceptors.
Taskforce Sabre Taskforce Sabre — A UK programme that helps Gulf states quickly secure defence systems and weapons.
9 October 2026
Speaking at the Innovation Nation Summit in Manchester, Prime Minister Andy Burnham announced £1 billion from UK Research and Innovation over the next four years for high-growth innovation clusters in the priority sectors of the Industrial Strategy.
The first partnerships to be set up by No.10 North cover the Northern Growth Corridor and the Oxford to Cambridge Growth Corridor, in life sciences, digital and technology, and advanced manufacturing.
Established mayoral strategic authorities in England are to receive dedicated devolved research and development funding.
The Local Innovation Partnerships Fund is to be devolved to established Mayors from 2028, and Good Growth Funds are to give local leaders a single, flexible, long-term growth budget.
The Local Innovation Partnerships Fund announcement applies only to England, and the government said it will work with Scotland, Wales and Northern Ireland on extending local empowerment.
The Prime Minister said in the speech, 'We can be the world's innovation nation.'
UKRI funding announced:
£1 billion
Period:
Next four years
Local Innovation Partnerships Fund devolved from:
2028
Venue:
Innovation Nation Summit, Manchester
Why it matters for exams: It pairs a named funding figure with the UK's devolution machinery, which is the kind of governance detail examiners use to test understanding of a unitary state with devolved administrations.
Kerala PSCUPSC
In plain words
UKRI UK Research and Innovation — The United Kingdom's main public body for funding research and innovation.
Mayoral strategic authority Mayoral strategic authority — An English sub-national body led by a directly elected mayor to which central powers and budgets are devolved.
9 October 2026
World trade reached a record $35 trillion in 2025, the UN trade and development agency UNCTAD said on Friday 9 October 2026. UNCTAD said developing countries were held back from greater participation in the global economy because of new technological and policy barriers. Senior UNCTAD official Anastasia Nesvetailova said only a fraction of investment by companies is now driven by traditional concerns such as low labour costs, and that value is moving into strategic sectors, semiconductors, artificial intelligence, clean energy and advanced computing, where the barriers to entry are high and rising. The agency identified increasing export controls, investment screening and supply-chain pre-conditions as the reasons why strategic sectors were harder for developing countries to access. Higher trade values this year continue to be driven by price hikes linked to the global energy shock caused by the US-Iran war. Trade between China and the United States has fallen by more than 20 per cent since 2024, while East Asian countries have expanded their trade links with both China and North America. UNCTAD said Asia will contribute 60 per cent of global growth this year.
World trade in 2025:
$35 trillion
Fall in China-United States trade since 2024:
more than 20 per cent
Asia's contribution to global growth this year:
60 per cent
Why it matters for exams: A single headline figure for world trade plus the shift of trade away from the China-United States corridor is the kind of report detail that appears in economy and index questions.
UPSCSSCBank
In plain words
UNCTAD United Nations Conference on Trade and Development — The UN body that works on trade, investment and development, based in Geneva.
Export controls Export controls — Government restrictions on selling certain goods or technologies abroad.
9 October 2026
US President Donald Trump announced on 9 October 2026 a deal under which Russia would release diesel to the American and global marketplace. Trump said President Vladimir Putin had agreed to release 300,000 tonnes of diesel immediately, followed by 500,000 tonnes in November and another million after that, with a further three million tonnes to follow within a short period depending on the condition of Russia's refineries. Shortly after the announcement the US Treasury formally issued a temporary licence allowing Russian diesel into the market, and the Treasury is suspending sanctions on Russian diesel exports until 7 April as part of the deal, while other Russian assets such as those in American banks remain frozen. Ukraine's President Zelensky said the deal was a gift to Putin that amounts to an investment in a war that must be ended, not prolonged. Putin said Russia confirmed its willingness to supply oil and petroleum products to the US market and global markets at large. The average diesel price in the United States is $6.28 a gallon according to the AAA, down from a record high of $6.53 recorded at the end of September, while Brent crude remains above $103 a barrel. The International Energy Agency estimates Russian diesel production has fallen by nearly 30 per cent after Ukrainian drone strikes on Russian refineries.
Immediate release:
300,000 tonnes
November tranche:
500,000 tonnes
US average diesel price:
$6.28 a gallon
Brent crude:
above $103 a barrel
Why it matters for exams: An energy and sanctions story with hard figures, and a reversal in the direction of sanctions that examiners use to test understanding of oil benchmarks and export curbs.
UPSCBank
In plain words
Brent crude Brent crude oil — The global benchmark grade against which much of the world's crude oil is priced.
IEA International Energy Agency — A Paris-based agency that tracks world energy supply and demand.
9 October 2026
The National Land Monetisation Corporation has invited bids for the monetisation of a prime freehold land parcel of 5.119 acres, or 20,722.93 sq. metres, belonging to HIL (India) Limited.
The plot is at Najafgarh Industrial Area, Rohtak Road, Shivaji Marg, New Delhi.
The reserve price is ₹829.69 crore and the earnest money deposit is ₹16.60 crore.
The minimum bid increment is ₹1 crore per acre, and the auction processing fee is ₹24 lakh plus GST and other applicable taxes, payable only by the H1 Bidder.
The e-auction notification was issued on October 8, 2026, the pre-bid meeting is set for November 3, 2026 and the last date for registration, technical bid and EMD or Bank Guarantee submission is November 19, 2026.
The release states that this is the third e-auction publicly advertised by NLMC in the last two months.
Land parcel:
5.119 acres (20,722.93 sq. metres)
Owner:
HIL (India) Limited
Reserve price:
₹829.69 crore
Earnest money deposit:
₹16.60 crore
Minimum bid increment:
₹1 crore per acre
Why it matters for exams: Asset monetisation by the National Land Monetisation Corporation, a special purpose vehicle under the Department of Public Enterprises, is a standing economy topic, and reserve price and EMD figures are directly askable.
Kerala PSCUPSC
In plain words
NLMC National Land Monetisation Corporation — A government company set up to monetise surplus land and building assets of central public sector enterprises and government agencies.
EMD Earnest Money Deposit — A deposit a bidder places as proof of a serious bid, refundable to unsuccessful bidders.