Current Affairs - Economy

India's Index of Core Industries (ICI) recorded a year-on-year growth of 5% in June 2026, according to the provisional estimates released by the Office of Economic Adviser under the Department for Promotion of Industry and Internal Trade (DPIIT). The data was published under the revised 2022-23 base year series, which introduced methodological improvements such as the inclusion of Iron Ore as the ninth core industry. Growth was mainly driven by strong performance in Electricity, Iron Ore, Cement, Coal, and Steel, reflecting improved industrial activity and strengthening momentum in infrastructure-related sectors during the first quarter of FY 2026-27.

The National Stock Exchange (NSE) launched Electronic Gold Receipts (EGRs) to provide investors with a transparent, secure, and efficient way to invest in gold without physically holding it. Each EGR represents ownership of a specified quantity of physical gold stored in SEBI-regulated vaults and is held in dematerialised form through a demat account. Investors can buy, sell, and redeem EGRs on the exchange while benefiting from standardised quality, transparent price discovery, enhanced liquidity, and secure storage. The initiative is expected to strengthen India's organised gold market, reduce dependence on informal trading channels, and encourage greater participation from institutional and retail investors.

Gujarat secured the top position among India's large states in the first Investment Friendliness Index (IFI) released by NITI Aayog, achieving a score of 56.6 out of 100. The state performed exceptionally well due to its strong infrastructure, efficient ports, and reliable power supply, making it an attractive destination for investments. The index evaluates states and Union Territories across eight pillars, including infrastructure, business climate, regulatory ease, and government policy. It is intended to help governments identify strengths and areas for improvement to create a more investment-friendly environment and support economic growth across the country.

As of July 13, India’s net direct tax collections reached ₹6.51 lakh crore, compared to ₹5.59 lakh crore during the same period in the previous financial year. This represents a year-on-year growth of 16.4%. The increase was driven by higher corporate tax collections and improved non-corporate tax receipts, reflecting stronger corporate profitability, better tax compliance, rising incomes, and a healthy equity market. This growth was achieved despite the government issuing significantly higher tax refunds, highlighting the strength of overall tax revenue performance and the country's improving fiscal position.

India's Wholesale Price Index (WPI) inflation increased to 9.87% in June 2026, up from 9.68% in May 2026. The rise was primarily driven by higher prices of food products, mineral oils, basic metals, and chemicals, reflecting continued cost pressures across multiple sectors. During the same period, the Wholesale Price Index increased from 109.9 to 110.2. While fuel and power inflation moderated compared to the previous month, elevated food and manufacturing-related prices continued to keep wholesale inflation at a high level, indicating persistent inflationary trends in the economy.