Background
The Government replaced the Planning Commission with a new institution named NITI Aayog, constituted on 01-January-2015.
The Prime Minister of India is the Chairperson.
The Governing Council comprises the Chief Ministers of all the States and the Lt. Governors of Union Territories.
The Vice-Chairperson is appointed by the Prime Minister, as is the Chief Executive Officer, for a fixed tenure in the rank of Secretary to the Government of India.
A maximum of 4 members of the Union Council of Ministers are nominated as ex-officio members.
Regional Councils are formed for issues affecting more than one state or a region, convened by the Prime Minister.
Constituted on:
01-January-2015
Chairperson:
Prime Minister of India
Governing Council:
Chief Ministers of all States and Lt. Governors of Union Territories
Ex-officio members:
Maximum of 4
Why it matters for exams: Its composition and its replacement of the Planning Commission are standard polity and economy questions.
Kerala PSCUPSC
In plain words
Aayog Commission (Hindi) — The Hindi word for a commission.
Special invitees Experts nominated by the PM — Domain experts nominated by the Prime Minister.
Background
The Reserve Bank of India Act, 1934 provides the statutory basis of the functioning of the Bank.
The Bank commenced operations on April 1, 1935.
It was set up on the basis of the recommendations of the Hilton Young Commission.
It was originally set up as a shareholder's bank and was nationalised in 1949.
Parent Act:
Reserve Bank of India Act, 1934
Commenced operations:
April 1, 1935
Set up on recommendation of:
Hilton Young Commission
Nationalised:
1949
Why it matters for exams: Establishment year, parent Act and the commission behind it are staple banking-history questions.
Kerala PSCUPSC
In plain words
Nationalisation Transfer to state ownership — Taking a privately held institution into government ownership.
Background
Nepal Rastra Bank, the central bank, unveiled a flexible monetary policy for FY 2026/27.
It supports the government's target of 7% economic growth and aims to hold average inflation at around 5.5% in the fiscal year.
It aims to keep foreign exchange reserves sufficient to cover at least seven months of imports of goods and services.
The bank rate, policy rate and standing deposit facility rate remain unchanged, and the CRR and SLR have also been left intact.
Governor Dr. Bishwo Nath Poudel said commercial banks will be encouraged to invest in foreign government securities to absorb excess liquidity.
Government growth target supported:
7%
Average inflation target:
around 5.5%
Reserve cover:
seven months of imports
Why it matters for exams: Central bank policy tools and targets are standard economy questions; compare with RBI's repo-based framework.
Kerala PSCUPSC
In plain words
CRR Cash Reserve Ratio — Share of deposits banks must keep with the central bank.
SLR Statutory Liquidity Ratio — Share of deposits banks must hold in liquid assets.
Background
Nepal recorded a net surplus of Rs18.76 billion from electricity trade in fiscal 2025-26.
Exports earned Rs29.32 billion, up from Rs17.45 billion the year before (a rise of about 68 percent), while imports fell 18.29 percent to Rs10.55 billion.
Nepal sold power to India through the Indian Energy Exchange and NTPC Vidyut Vyapar Nigam, and to Bangladesh under a trilateral power-trade arrangement.
The Nepal Electricity Authority's figures show imports from India fell as hydropower, especially in the monsoon, met more of domestic demand.
Net surplus:
Rs18.76 billion
Exports:
Rs29.32 billion
Imports:
Rs10.55 billion
Previous-year exports:
Rs17.45 billion
Why it matters for exams: Hydropower trade ties Nepal's economy to India and Bangladesh; a common question on South Asian energy links.
Kerala PSCUPSC
In plain words
NEA Nepal Electricity Authority — Nepal's state power utility.
6 October 2026
APEDA facilitated the export of 1 MT of popped makhana from Purnea, Bihar, to Greece. It was sourced by Indo Global Export (Purnea) and exported through S. S Foods Exports Pvt. Ltd. (New Delhi) by sea from Mundra Port to Piraeus Port. The export achieved higher price realization than domestic market rates. Bihar accounts for 80-85% of India's makhana output, grown over 35,000 hectares across 10 districts. India exported over 7000 MT of makhana and value-added products worth USD 22 million in FY 2025-26. Bihar Agriculture Minister Vijay Kumar Sinha chaired the flag-off ceremony.
Consignment:
1 MT
Route:
Mundra Port to Piraeus Port
Bihar share of output:
80-85%
FY 2025-26 exports:
USD 22 million
Why it matters for exams: Bihar's makhana (fox nut) leadership and APEDA's export role are regular agriculture-economy topics.
UPSC
In plain words
APEDA Agricultural and Processed Food Products Export Development Authority — A Government of India body promoting agri-food exports.
Makhana Fox nut / lotus seed — A pond-grown seed eaten popped.
6 October 2026
India approved temporary electricity exports to Nepal for 18 hours daily through 31 December.
The approval followed catastrophic floods triggered by a glacier collapse on the China-Nepal border.
At least 12 hydropower projects were damaged, and Nepal halted its own power exports and began importing from India.
India's power ministry said it would review the quantum of power to be exported in December talks.
It said the measure would help Nepal meet its power requirements during this difficult period.
Daily supply:
18 hours
Valid until:
31 December
Hydropower projects damaged:
at least 12
Why it matters for exams: India-Nepal energy cooperation and disaster support are recurring neighbourhood-policy topics.
Kerala PSCUPSC
6 October 2026
The Ministry of Steel reported growth in India's steel sector in the first half of FY 2026-27. Crude steel production was 85.1 million tonnes against 82.7 million tonnes a year earlier, a rise of 2.9 per cent. Finished steel consumption was 84.9 million tonnes against 79.0 million tonnes, up 7.5 per cent. Finished steel imports were 4,141.8 thousand tonnes worth ₹43,690.1 crore, and exports were 3,547.8 thousand tonnes worth ₹28,263.7 crore. India was a net importer by volume.
Crude steel:
85.1 million tonnes
Consumption growth:
7.5 per cent
Import value:
₹43,690.1 crore
Why it matters for exams: Production and consumption figures for core industries appear in economy and report-based questions.
Kerala PSCUPSC
In plain words
Crude steel Steel in its first solid form — Steel produced from the furnace before it is rolled into finished products.
6 October 2026
The Union Cabinet approved the establishment of the Integrated Transport and Logistics Authority (ITLA), set up as a Special Purpose Vehicle. It will act as the apex body for integrated transport and logistics planning, research, project evaluation and monitoring, policy support and data analysis. ITLA will develop national transport master plans spanning ten years or more. It will technically evaluate infrastructure projects costing 500 crore rupees or more. It will also set up a National Transport Data Repository integrating GSTN e-way bills, FASTag, GPS and urban traffic data.
Project threshold:
₹500 crore or more
Master plan horizon:
Ten years or more
Data platform:
National Transport Data Repository
Why it matters for exams: Logistics-cost reduction and infrastructure planning bodies are recurring topics in economy and governance papers.
Kerala PSCUPSC
In plain words
SPV Special Purpose Vehicle — A separate entity created for one defined purpose.
6 October 2026
The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the Government of India's commitment of ₹10,000 crore towards the establishment of the SME Growth Fund. The fund is meant for direct equity investment in small and medium enterprises. It targets growth capital for enterprises in manufacturing, services, technology and innovation-driven sectors. The Cabinet noted a structural gap in equity development capital for such enterprises. A majority of the funds is to go to small and medium manufacturing enterprises.
Fund size:
₹10,000 crore (Government of India commitment)
Mode:
Direct equity investment
Why it matters for exams: Equity-support schemes for MSMEs and Cabinet decisions on economy are regular exam material.
Kerala PSCUPSC
In plain words
Equity Ownership stake in a company — Money raised by selling a share of ownership rather than borrowing.
6 October 2026
The eighth batch of new professions was officially recognised on 9 September 2026 by the Ministry of Human Resources and Social Security and other departments; Xinhua's 6 October 2026 report highlights it.
The batch has 11 new occupations and 23 new job types.
Low-altitude economy roles include drone swarm flight planners and low-altitude logistics specialists.
Digital economy roles include AI engineering technicians and embodied intelligent robot application technicians.
Since 2019 China has released eight batches totalling 121 new occupations.
New occupations in this batch:
11
New job types in this batch:
23
Total since 2019:
121 new occupations
Why it matters for exams: Labour-market and skills classification changes link economy, technology and employment questions.
UPSCSSCBank
In plain words
Low-altitude economy Low-altitude economy — Economic activity using airspace close to the ground, such as drone logistics.
6 October 2026
China's Ministry of Agriculture and Rural Affairs said at a press conference on 29 September 2026 that China is on track for a bumper grain harvest in 2026.
Summer grain output exceeded 150 million tonnes for the first time.
Early rice output remained above 28 million tonnes for the sixth consecutive year.
Annual grain output has stayed above 700 million tonnes for two consecutive years, 2024 and 2025.
Per capita grain availability has surpassed 500 kg, higher than the global average.
Last year (2025), meat production exceeded 100 million tonnes for the first time.
The contribution of science and technology to agricultural development has exceeded 64 percent.
Summer grain output:
above 150 million tonnes
Early rice output:
above 28 million tonnes
Per capita grain availability:
above 500 kg
Why it matters for exams: Grain output records and food-security figures are regular agriculture and economy questions.
Kerala PSCUPSCSSC
In plain words
Early rice Early rice — The first rice crop of the year, harvested before the late rice crop.
6 October 2026
Minister of Water Resources Li Guoying outlined the plan on 30 September 2026.
By 2030 the national water network is to cover 82% of China's territory.
Reservoir storage is to rise by 15 billion cubic meters, and 91% of key levees are to meet standards.
Irrigated farmland is to grow by 40 million mu, and tap water coverage in rural areas is to reach 98%.
A national water network dispatch center is to be set up.
The network is one of six prioritised networks of the 15th Five-Year Plan period (2026-2030).
Territorial coverage by 2030:
82%
Added reservoir storage:
15 billion cubic meters
Rural tap water coverage:
98%
Why it matters for exams: Water security and Five-Year Plans link economy, environment and governance questions.
UPSCSSC
In plain words
Five-Year Plan 15th Five-Year Plan — China's medium-term national development plan, here covering 2026-2030.
6 October 2026
Xinhua reported on 4 October 2026 that China's holiday consumption market posted steady growth.
On 1 October, railway passengers hit 25.2 million, a single-day record.
Authorities projected 2.13 billion cross-regional trips over the seven days, averaging 300 million a day.
Foot traffic at 78 major shopping districts rose 3.4% year on year and revenue rose 5.3% from 1 to 3 October.
The trade-in programme generated 19.63 billion yuan and benefited 3.48 million consumers.
Highway tolls were waived for private vehicles, and local governments are handing out some 310 million yuan in consumer vouchers and subsidies over the month-long tourism campaign.
Railway passengers on 1 October:
25.2 million
Trade-in programme turnover:
19.63 billion yuan
Projected cross-regional trips:
2.13 billion over seven days
Why it matters for exams: Holiday-consumption data and stimulus tools such as trade-in subsidies show how China steers domestic demand.
UPSCSSCBank
In plain words
Trade-in programme Consumer goods trade-in programme — A subsidy scheme encouraging consumers to replace old cars and appliances.
6 October 2026
The People's Bank of China announced enhanced financial support for the economy on Tuesday, 29 September 2026.
The one-year Pledged Supplementary Lending (PSL) rate was cut from 1.75% to 1.5%.
PSL support now extends to the 'six networks': water networks, new-type power grids, computing power networks, communication networks, urban underground pipelines and logistics networks.
The sci-tech innovation relending quota rose by 200 billion yuan, from 1.2 trillion to 1.4 trillion yuan.
The private enterprise relending facility quota rose from 1 trillion to 1.3 trillion yuan.
From 1 October 2026, interest subsidies for housing loans will apply for one year.
One-year PSL rate:
1.75% to 1.5%
Sci-tech relending quota:
1.2 trillion to 1.4 trillion yuan
Private enterprise relending quota:
1 trillion to 1.3 trillion yuan
Why it matters for exams: Central-bank rate tools and relending quotas are staple economy questions, and China's policy moves are tracked in international affairs.
UPSCSSCBank
In plain words
PSL Pledged Supplementary Lending — A central-bank loan facility for policy banks, set at a stated interest rate.
Relending Relending quota — Central-bank funds lent on to banks for use in targeted sectors.
6 October 2026
The Assam Cabinet approved the Assam Sustainable Wetland and Integrated Fisheries Transformation (SWIFT) Project at a total cost of ₹796.88 crore.
It includes an Asian Development Bank loan of ₹637.504 crore and a state contribution of ₹159.376 crore.
The project will restore at least 102 derelict community beels, the floodplain wetlands of Assam.
ADB's own project page records approval of a US$71.90 million loan on 12 December 2025.
Its aim is to raise the income of beel fishermen through better management and diversified livelihoods.
Total cost:
₹796.88 crore
ADB loan:
₹637.504 crore
State contribution:
₹159.376 crore
Beels to be restored:
at least 102
Why it matters for exams: Wetlands, externally aided projects and fisheries policy are common in environment and economy questions.
Kerala PSCUPSC
In plain words
Beel Floodplain wetland — A beel is a floodplain wetland in Assam that supports fisheries.
ADB Asian Development Bank — A multilateral development bank financing projects in Asia.
6 October 2026
The ILO's preliminary assessment says the late-August flash floods in northern Nepal have disrupted jobs far beyond the flooded area.
The floods were triggered by a glacier collapse on the border with China.
More than 1,450 people were killed and 5,786 are still missing, according to the authorities.
About 21,400 employed people live within four kilometres of the flood footprint.
Informal, daily-wage and self-employed workers are at heightened risk; women may face lost pay and more unpaid care.
The ILO recommends immediate income support, employment-intensive reconstruction and skills development.
People killed:
more than 1,450
People still missing:
5,786
Workers within 4 km of flood footprint:
about 21,400
Why it matters for exams: Links a climate-driven disaster to labour markets and informal employment.
UPSC
In plain words
ILO International Labour Organization — The UN agency for labour standards and decent work.
6 October 2026
The 10th edition of the India Mobile Congress will be held at Yashobhoomi, Dwarka, New Delhi, from 7 to 10 October 2026, with Prime Minister Narendra Modi inaugurating it on 8 October.
The theme is "Scale Without Boundaries".
Union Communications Minister Jyotiraditya M. Scindia reviewed the final preparations on 5 October.
Organisers expect over 1.5 lakh attendees, 500+ exhibitors and partners, 600+ startups and 900+ thought leaders.
The release cites 1.01 billion broadband subscribers, 5G coverage in 99.9 per cent of districts and 4G in 98.7 per cent of villages.
India is described as the fifth country to develop its own indigenous 4G stack.
Edition:
10th
Venue:
Yashobhoomi, Dwarka
5G district coverage:
99.9 per cent
Villages with 4G:
98.7 per cent
Why it matters for exams: Telecom coverage figures and national tech events feature in UPSC prelims, SSC and banking general awareness.
UPSCSSCBank
In plain words
IMC India Mobile Congress — Asia's large annual telecom and technology forum held in New Delhi.
DoT Department of Telecommunications — The Union department that works with industry bodies to organise IMC.
6 October 2026
Chief Minister V D Satheesan inaugurated the distribution of 'She Scooters' on Monday, 5 October 2026, as part of the Government's 100-day action programme.
The scheme gives women from fishing communities an electric scooter for selling fish; the Fisheries Department had invited applications with a subsidy of ₹1 lakh towards the scooter, with the balance to be met by the beneficiary through a bank loan.
Applicants must not own a two-wheeler, must live permanently in a fishing village, be members of the Fishermen's Welfare Fund Board and have sold fish for at least two years; the minimum education is Class 10.
The age limit is 45 for fisherwomen and 50 for SAF entrepreneurs.
The scheme runs through the Society for Assistance to Fisherwomen (SAF), and was announced in the State Budget with a pilot for 100 women.
Subsidy per scooter:
₹1 lakh
Balance cost:
Bank loan by the beneficiary
Implementing society:
SAF (Society for Assistance to Fisherwomen)
Pilot size:
100 women
Age limit:
45 years (fisherwomen), 50 years (SAF entrepreneurs)
Why it matters for exams: New State welfare schemes for fisherfolk, with their eligibility rules and implementing agencies, are likely Kerala PSC questions.
Kerala PSC
In plain words
SAF Society for Assistance to Fisherwomen — A society under the Fisheries Department that supports livelihood activities of fisherwomen.
Subsidy Subsidy — A part of the cost paid by the Government so that the buyer pays less.
6 October 2026
Thrissur District Collector Shikha Surendran has directed the National Highways Authority of India (NHAI) to examine a barrier-free tolling system at the Paliyekkara toll plaza in Thrissur, on the lines of the Tambaram model in Tamil Nadu.
The direction came at a meeting of the National Highway Task Force chaired by the Collector, held to address traffic delays, safety concerns and gaps along the stretch.
The NHAI Project Director for NH 66 said the issues in an earlier joint inspection report, including safety concerns, waterlogging and pedestrian difficulties, have been resolved; the police and the Motor Vehicles Department will verify this on site.
A proposal for streetlights on a four-kilometre dark stretch of NH 66 will be sent to NHAI headquarters.
A special committee of the Police, Motor Vehicles Department, Revenue Department and NHAI will find parking spots for heavy vehicles; a 6,000-square-foot plot near the Kodungallur Bypass has been identified.
Model to be examined:
Tambaram, Tamil Nadu
Body chaired by:
Thrissur District Collector Shikha Surendran
Dark stretch of NH 66:
4 km
Heavy-vehicle parking plot:
6,000 sq ft near Kodungallur Bypass
Why it matters for exams: Toll collection, NHAI's role and district-level task forces on highway safety are recurring topics for Kerala PSC and UPSC governance papers.
Kerala PSCUPSC
In plain words
NHAI National Highways Authority of India — The statutory body that builds, maintains and operates national highways and their toll plazas.
Barrier-free tolling Barrier-free tolling — Toll is collected electronically without vehicles stopping at a boom barrier.
Background
A release of the Ministry of Commerce and Industry describes Bihar's agri-ecosystem as home to a diverse range of high-potential produce, from Shahi Litchi, Jardalu Mango, Mithila Makhana and Magahi Pan to staple grains and a mix of fruits and vegetables. The Geographical Indication (GI) tags attached to several of these products elevate their global appeal. Exports of this produce are supported by the Agricultural and Processed Food Products Export Development Authority (APEDA), which has opened a regional office in Patna; exporters from Bihar had earlier been served from the APEDA regional office in Varanasi. The release records work on sustainable packaging for GI-tagged Shahi Litchi in Muzaffarpur and collaboration with agri-research bodies including NRC Litchi and NRC Makhana. The National Research Centre for Makhana (NRCM), Darbhanga is a facility dedicated to Makhana research and innovation; its work includes high-yield makhana and thornless water chestnut varieties, water-efficient and integrated farming systems, and Makhana-cum-fish farming. A reply of the Ministry of Agriculture and Farmers Welfare records that makhana cultivation has expanded from approximately 13,000 to 35,000 hectares across multiple states.
GI-tagged produce named for Bihar:
Shahi Litchi, Jardalu Mango, Mithila Makhana, Magahi Pan
National Research Centre for Makhana:
Darbhanga
District linked to GI-tagged Shahi Litchi:
Muzaffarpur
Makhana area across states:
approximately 13,000 to 35,000 hectares
Why it matters for exams: Geographical Indication questions are usually set as a product-to-state match, and makhana, litchi and the research centres behind them are the ones most often attached to Bihar.
Kerala PSCUPSC
In plain words
Geographical Indication GI — A sign used on products with a specific geographical origin and qualities owed to that origin.
APEDA Agricultural and Processed Food Products Export Development Authority — The central authority that promotes the export of agricultural and processed food products.
Makhana — The popped seed of the prickly water lily, grown in ponds and shallow wetlands.