Current Affairs - Economy

The National Agriculture Market (e-NAM) platform expanded its coverage by adding 9 new agricultural commodities, increasing the total tradable items to 247. The newly added commodities include Green Tea, Tea, Aswagandha Dry Roots, Mustard Oil, Lavender Oil, Mentha Oil, Virgin Olive Oil, Lavender Dried Flower, and Broken Rice. This expansion strengthens India’s digital agriculture ecosystem by providing farmers and traders greater access to markets, ensuring quality-based pricing, and reducing dependency on intermediaries. The Directorate of Marketing and Inspection (DMI) has set standardized quality parameters for these commodities, promoting transparency and fair trade across the platform.

The World Bank has upgraded India’s GDP growth forecast for FY26 to 6.5%, up from the earlier estimate of 6.3%. This upward revision is driven by strong domestic demand, a resilient rural economy, and the positive impact of Goods and Services Tax (GST) reforms that have enhanced revenue collection and formalization. India is expected to remain the fastest-growing major economy globally, supported by rising consumption, improved agricultural output, and infrastructure spending. Despite these optimistic projections, the World Bank has cautioned about potential risks from global economic uncertainty and external shocks, such as the U.S. tariff on Indian exports.

OpenAI achieved a $500 billion valuation following a $6.6 billion secondary share sale to SoftBank. This sale involved shares from current and former employees and reflects investor confidence in OpenAI’s rapid growth and strong revenue performance. The transaction did not dilute company capital but provided liquidity for early stakeholders. OpenAI’s revenue for the first half of 2025 reached $4.3 billion, driven by the expansion of ChatGPT Enterprise and Pro plans, integrations with Microsoft Copilot, and demand for custom AI solutions. SoftBank’s investment highlights the global interest in generative AI and positions OpenAI for potential strategic opportunities in technology and capital markets.

Union Home Minister Amit Shah inaugurated the Sabar Dairy Plant in Rohtak, Haryana. This dairy facility, built with an investment of ₹350 crore, is the largest in India and aims to significantly boost the dairy sector in the region. The plant is expected to enhance milk production capacity, improve quality standards, and strengthen supply chains across the National Capital Region (NCR). By providing a modern processing infrastructure, it will help farmers secure better income and contribute to rural economic growth. The project reflects the government’s focus on promoting self-reliance and efficiency in India’s dairy industry.

India’s Goods and Services Tax (GST) collections for September 2025 reached ₹1.89 lakh crore, marking a 9.1% year-on-year growth and 1.5% increase over August 2025. This strong performance came despite recent tax rate reductions under the GST 2.0 reforms, which lowered GST on 375 items to boost consumption. The robust collection reflects healthy consumer demand, improved compliance, and the positive impact of rate rationalisation. It also highlights India’s fiscal resilience and economic stability as the government continues implementing reforms to strengthen revenue growth amid evolving market conditions and festive demand.