Current Affairs - Economy

Pune is the city selected to host the ‘Gau-Tech 2026’ exhibition, organised by the Maharashtra Goseva Commission in collaboration with the Global Confederation of Cow-Based Industries. The event will take place at the Agriculture College and focuses on promoting cow-based agriculture and rural economic development. It aims to showcase innovative technologies, support sustainable farming practices, and create new business opportunities. The initiative also aligns with the broader national vision of strengthening village industries and contributing to long-term economic growth through rural empowerment.

Tata Steel is the company that partnered with the University of Science and Technology Beijing to advance research in low-carbon steelmaking technologies. The collaboration focuses on areas such as scrap-based steel production, waste valorisation, carbon capture, and improving end-product performance. By leveraging advanced research facilities, the partnership aims to scale innovative solutions for industrial use. This initiative aligns with broader sustainability goals, helping reduce carbon emissions in the steel sector and promoting environmentally responsible manufacturing practices through global cooperation and technological advancement.

India holds the leading position in global coconut production with a share of over 30%, specifically around 30.37%. This dominance highlights the importance of coconut cultivation in the country’s agricultural economy and rural livelihoods. Millions of farmers depend on this sector, making it a crucial source of income and employment. The government has further supported this industry through initiatives like the Coconut Promotion Scheme introduced in Budget 2026-27. This scheme aims to enhance productivity, replace old trees with high-yielding varieties, and promote sustainable farming practices, ensuring long-term growth and competitiveness in global markets.

4.9% was the overall unemployment rate recorded in India for February 2026 among individuals aged 15 years and above. This marked a slight decline from January 2026, when the rate stood at 5.0%, indicating a modest improvement in the labour market. The data reflect stable employment conditions across both rural and urban areas. Urban unemployment showed a small decrease, while rural unemployment remained steady. Additionally, female unemployment declined notably during this period. These trends suggest gradual recovery and consistency in employment opportunities, as captured by the Periodic Labour Force Survey conducted by the National Statistics Office.

2.13% was the Wholesale Price Index (WPI) inflation rate recorded in India for February 2026. This marked an increase from January’s 1.81%, indicating a continued upward trend in wholesale prices. The rise was mainly driven by higher costs in food articles, non-food items, and manufactured products such as textiles and basic metals. Food inflation, especially in items like pulses and potatoes, contributed significantly to the increase. Although vegetable prices showed some easing and fuel prices remained in deflation, the overall inflation reflected growing cost pressures in the production and supply chain across various sectors.