Economic & Political Developments

Study Material

Paper Prelims

PYQ Count 12

1. Union Budget 2025-26 placed fiscal consolidation and public investment at the centre of the current economic story.
2. to 6.25%.
3. Population Census 2027 became a major governance development when the Government announced a two-phase exercise with caste enumeration and a reference date of 2027-03-01 for most areas.
4. The 18th Lok Sabha began with a Rajasthan-linked constitutional fact: Om Birla, Member from Kota, was elected Speaker again on 2024-06-26.
5. On 2024-07-01, the Bharatiya Nyaya Sanhita, Bharatiya Nagarik Suraksha Sanhita and Bharatiya Sakshya Adhiniyam came into force, replacing the IPC, CrPC and Evidence Act framework for new criminal justice administration.
6. The 53rd GST Council meeting on 2024-06-22 belongs to tax-governance current affairs because it dealt with biometric authentication, compliance simplification and selected service exemptions.
7. PM JANMAN, approved in 2023 with ₹24,104 crore total outlay, focuses on Particularly Vulnerable Tribal Groups through 11 critical interventions across housing, roads, water, health, education, nutrition, electricity, telecom and livelihoods.
8. The India-Middle East-Europe Economic Corridor was announced through a G20 New Delhi memorandum on 2023-09-09.

Key facts

Union Budget 2025-26 placed fiscal consolidation and public investment at the centre of the current economic story.
to 6.25%.
Population Census 2027 became a major governance development when the Government announced a two-phase exercise with caste enumeration and a reference…
The 18th Lok Sabha began with a Rajasthan-linked constitutional fact: Om Birla, Member from Kota, was elected Speaker again on 2024-06-26.
On 2024-07-01, the Bharatiya Nyaya Sanhita, Bharatiya Nagarik Suraksha Sanhita and Bharatiya Sakshya Adhiniyam came into force, replacing the IPC, CrP…

Key Points at a Glance

1
Union Budget 2025-26 placed fiscal consolidation and public investment at the centre of the current economic story.
2
to 6.25%.
3
Population Census 2027 became a major governance development when the Government announced a two-phase exercise with caste enumeration and a reference date of 2027-03-01 for most areas.
4
The 18th Lok Sabha began with a Rajasthan-linked constitutional fact: Om Birla, Member from Kota, was elected Speaker again on 2024-06-26.
5
On 2024-07-01, the Bharatiya Nyaya Sanhita, Bharatiya Nagarik Suraksha Sanhita and Bharatiya Sakshya Adhiniyam came into force, replacing the IPC, CrPC and Evidence Act framework for new criminal justice administration.
6
The 53rd GST Council meeting on 2024-06-22 belongs to tax-governance current affairs because it dealt with biometric authentication, compliance simplification and selected service exemptions.
7
PM JANMAN, approved in 2023 with ₹24,104 crore total outlay, focuses on Particularly Vulnerable Tribal Groups through 11 critical interventions across housing, roads, water, health, education, nutrition, electricity, telecom and livelihoods.
8
The India-Middle East-Europe Economic Corridor was announced through a G20 New Delhi memorandum on 2023-09-09.

How do the Union Budget 2025-26 and Economic Survey 2024-25 frame current economic developments?

The Union Budget 2025-26 and the Economic Survey 2024-25 frame current economic developments through a shared story of fiscal consolidation, public investment, infrastructure-led growth and cautious macroeconomic resilience.

Union Budget 2025-26 placed fiscal consolidation and public investment at the centre of the current economic story.

The Ministry of Finance's PIB highlights for Union Budget 2025-26 stated that the fiscal deficit was estimated at 4.4% of GDP.

Document	Core fact	Growth / fiscal setting	Supporting themes
Union Budget 2025-26	The fiscal deficit estimate was 4.4% of GDP.	Capital expenditure of Rs. 11.21 lakh crore was earmarked for FY 2025-26.	The Budget states the fiscal arithmetic.
Economic Survey 2024-25	It gave the growth setting behind that Budget.	Real GDP growth for FY 2025-26 was projected in the 6.3% to 6.8% range.	Services, investment and external resilience were supporting themes.

Why They Should Be Read Together

The Budget states the fiscal arithmetic.
The Survey explains why infrastructure, deregulation, employment and private investment were treated as engines of growth.
Read together, the Budget gives the expenditure and deficit numbers, while the Survey supplies the economic reasoning behind those numbers.

Rajasthan Current-Affairs Angle

Central capex, interest-free state loans and rooftop-solar incentives influence:
- Roads.
- Power distribution companies.
- Urban local bodies in Jaipur, Kota, Jodhpur and smaller towns.
For a Rajasthan answer, the point is not to memorise the Union Budget in isolation; it is to connect national capex and state-support instruments with roads, DISCOM finances and urban infrastructure.

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PREDICTED Predicted RAS Questions

Based on PYQ trends and 2026 syllabus analysis

1 MCQ Which pair is correctly matched for Union Budget 2025-26?

A Fiscal deficit - 4.4% of GDP Correct answer
B Fiscal deficit - 8.2% of GDP
C Capital expenditure - ₹24,104 crore
D Repo rate - 7.25%

Explanation

The Budget estimate placed fiscal deficit at 4.4% of GDP. Option B uses the 2023-24 real GDP growth number. Option C belongs to PM JANMAN. Option D is not the February 2025 repo rate.