Current Economic Affairs: Survey, Budget, RBI, SEBI: Indian Economy Notes for UPSC

Current Economic Affairs: Survey, Budget, RBI, SEBI

Key points

Survey and Budget numbers, labelled by type.
RBI hike and SEBI reforms.

Prelims box: facts and traps

The Economic Survey 2025-26 was tabled on 29 January 2026 by the Ministry of Finance.
After the new GDP series was released in February 2026, the Chief Economic Adviser raised the FY27 projection to 7–7.4%.
Context: the repo rate had been cut by 125 basis points in total, from 6.50% to 5.25% by December 2025, before this hike.
The next MPC meeting is scheduled for 2–4 December 2026.

Economic Survey 2025-26 and Union Budget 2026-

27 This is a current-affairs feed, refreshed as events happen. Each figure below is labelled: measured or estimated data, budget estimates (BE), revised estimates (RE), or projections. Do not mix them in answers.

The Economic Survey 2025-26 was tabled on 29 January 2026 by the Ministry of Finance. Estimate: real GDP growth for FY26 of 7.4% (First Advance Estimate). Projection: FY27 growth of 6.8–7.2%, and India’s potential growth was revised to about 7%. After the new GDP series was released in February 2026, the Chief Economic Adviser raised the FY27 projection to 7–7.4%.

Union Budget 2026-27 (presented 1 Feb 2026)	Figure	Type
Fiscal deficit FY26	4.4% of GDP	Revised estimate
Fiscal deficit FY27	4.3% of GDP	Budget estimate (target)
Debt-to-GDP FY27	55.6%	Budget estimate
Debt-to-GDP goal	50 ± 1% by 2030-31	Medium-term target
Public capital expenditure FY27	₹12.2 lakh crore	Budget estimate
Total expenditure FY27	₹53.5 lakh crore	Budget estimate
Vertical devolution to states	41%	16th Finance Commission, accepted

Union Budget 2026-27 speech and Budget at a Glance.

RBI and SEBI

RBI policy (measured decision): at its 63rd meeting on 5–7 October 2026 the Monetary Policy Committee raised the repo rate by 25 basis points to 5.50%, the first hike in nearly four years, and changed its stance from neutral to ‘calibrated tightening’. The standing deposit facility rate is 5.25% and the marginal standing facility rate and Bank Rate are 5.75%. Reasons given: higher crude prices after renewed conflict in West Asia and inflation expected to average almost 5.8% over the next three quarters (a projection).

Context: the repo rate had been cut by 125 basis points in total, from 6.50% to 5.25% by December 2025, before this hike. The next MPC meeting is scheduled for 2–4 December 2026.

SEBI: its board meeting of 24 September 2026 approved new Portfolio Managers Regulations, a revised settlement framework, a common advertising code, wider access for foreign portfolio investors to non-agricultural commodity derivatives, and measures for REITs, InvITs and alternative investment funds.

Mains box: analysis and answer points

27 This is a current-affairs feed, refreshed as events happen.
Each figure below is labelled: measured or estimated data, budget estimates (BE), revised estimates (RE), or projections.
Estimate: real GDP growth for FY26 of 7.4% (First Advance Estimate).
Likely next angle: Debt anchor vs deficit

Practice

Write an answer

In 150 words, explain the significance of Current Economic Affairs with one recent example.

Flashcards (14)

Economic Survey 2025-26 tabled?

29 January 2026.

FY27 growth projection (Survey)?

6.8–7.2%.

Revised FY27 projection (CEA)?

7–7.4%.

Potential growth (Survey)?

About 7%.

Fiscal deficit target FY27?

4.3% of GDP (BE).

Fiscal deficit FY26 (RE)?

4.4% of GDP.

Capex FY27 (BE)?

₹12.2 lakh crore.

Debt-to-GDP goal?

50 ± 1% by 2030-31.

Vertical devolution (16th FC)?

41%.

Repo rate after Oct 2026?

5.50%.

New RBI stance?

Calibrated tightening.

SDF and MSF?

5.25% and 5.75%.

Total cuts before hike?

125 bps (6.50% to 5.25%).

IMF FY27 India projection?

7.0%.

Next topic · 16.2 →Current Economic Affairs: IMF, World Bank, WTO and indices