Current Affairs - Economy

Amul, managed by the Gujarat Cooperative Milk Marketing Federation (GCMMF), secured the No. 1 global ranking in the 2025 ICA World Cooperative Monitor, followed by IFFCO at second place. This milestone highlights India’s leadership in cooperative governance and its success in promoting inclusive rural growth. Amul’s three-tier cooperative model connects millions of dairy farmers to national and international markets, ensuring fair income and empowerment for producers. Its achievements in innovation, value addition, and sustainability have transformed India’s dairy sector into a global model of cooperative excellence. The recognition also strengthens India’s vision of “Sahkar Se Samriddhi.”

India’s Goods and Services Tax (GST) revenue grew by 4.6% year-on-year in October 2025, reaching ₹1.96 lakh crore — the highest in five months but marking the slowest growth in over four years. Despite the moderation, revenues remained above ₹1.8 lakh crore for the tenth straight month, reflecting consistent economic activity and strong tax compliance. The slowdown was partly due to the government’s restructuring of GST slabs, which simplified the tax system by reducing higher-rate categories. This reform is expected to stimulate consumption and investment over time, helping sustain fiscal stability and support India’s long-term economic growth trajectory.

India’s foreign exchange reserves crossed the $700 billion mark in October 2025, reaching $702 billion according to the Reserve Bank of India (RBI). This milestone reflects strong macroeconomic fundamentals and resilience amid global financial volatility. The rise was largely driven by an increase of $6.1 billion in gold reserves, supported by higher global gold prices, even as foreign currency assets declined due to RBI’s market interventions. Maintaining such high reserves provides India with a crucial financial cushion against global uncertainties, stabilises the rupee, enhances investor confidence, and ensures sufficient import cover for over ten months, reinforcing economic stability.

Deloitte India’s latest India Economic Outlook report projects India’s GDP growth for FY26 in the range of 6.7–6.9%, reflecting confidence in the country’s strong domestic demand and supportive policy environment. The upward revision of 0.3 percentage points from earlier estimates highlights renewed optimism in the Indian economy. Key drivers include robust private investment, rising consumer spending, and government-led reforms such as GST 2.0. The projection aligns closely with the Reserve Bank of India’s 6.8% growth forecast, emphasizing a broad consensus on India’s economic resilience despite challenges like global trade uncertainty, inflation pressures, and geopolitical risks.

In September 2025, India’s Infrastructure Output, measured by the Index of Eight Core Industries (ICI), registered a growth rate of 3% year-on-year. This indicates moderate expansion in the infrastructure sector, driven by positive growth in key areas such as steel, cement, electricity, and fertilizers. Although the growth rate was lower than August’s revised figure of 6.5%, it still reflects ongoing momentum in core industrial activity, contributing to the overall economic stability and infrastructural development of the country.