Economic & Political Developments

Paper P

Unit 0

Reading Time 6 min read

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.

CORE 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.

CORE Budget and Survey Baseline

Union Budget 2025-26 placed fiscal consolidation and public investment at the centre of the current economic story. The fiscal deficit estimate was 4.4% of GDP, while capital expenditure of ₹11.21 lakh crore was earmarked for FY 2025-26. The Economic Survey 2024-25 gave the growth setting behind that Budget: real GDP growth for FY 2025-26 was projected in the 6.3% to 6.8% range, with services, investment and external resilience as supporting themes. These two documents should be read together because the Budget states the fiscal arithmetic and the Survey explains why infrastructure, deregulation, employment and private investment were treated as engines of growth. Rajasthan's current-affairs angle is direct: central capex, interest-free state loans and rooftop-solar incentives influence roads, power distribution companies and urban local bodies in Jaipur, Kota, Jodhpur and smaller towns.

PREDICTED Predicted RAS Questions

Based on PYQ trends and 2026 syllabus analysis

1 1M Which pair is correctly matched for Union Budget 2025-26? 1 marks · 0 words

Model Answer

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.

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CORE Key Points at a Glance

CORE Budget and Survey Baseline

PREDICTED Predicted RAS Questions