The Indian government is set to reduce the funding for its key rural tap water program, the Jal Jeevan Mission, by almost 60% in the revised estimates for the 2025-26 financial year. This decision comes as the Ministry of Jal Shakti waits for Cabinet approval to extend the scheme until 2028, and amid reports of slow spending and past irregularities in how the program was carried out. The news highlights challenges in executing large-scale public schemes and raises questions about achieving full rural water coverage.

The Securities and Exchange Board of India (SEBI) has introduced a revised framework that lets stock brokers offer services usually handled by other regulators like the Reserve Bank of India (RBI) and the Insurance Regulatory and Development Authority of India (IRDAI). This step is meant to help brokers grow their business by providing more financial services through one platform, while keeping the right regulator in charge of each part.

The Pro-Active Governance and Timely Implementation (PRAGATI) platform has successfully helped commission 43 out of 53 power sector projects reviewed by Prime Minister Narendra Modi, totaling Rs 3.02 lakh crore. This update highlights how regular monitoring has resolved delays in key energy infrastructure, improving India's power availability and supporting national development goals.

The release of October 2025 GST collection data shows an overall 4.6 percent year-on-year growth to Rs 1.96 lakh crore, driven by festive spending, but highlights concerns as 20 states and Union Territories experienced revenue declines, underscoring persistent gaps where post-GST revenues lag behind pre-GST levels for most states, as revealed in recent analyses of state finances.

The United States has imposed direct sanctions on two of Russia's largest oil companies, Rosneft and Lukoil, escalating its pressure campaign to force Moscow to end the Ukraine war. This move, announced on October 22, 2025, by the Trump administration, freezes assets of these firms and bars US entities from dealing with them, while carrying the implicit threat of secondary sanctions on third-country buyers like India. As India's top oil supplier—accounting for over 35% of its crude imports this year—these sanctions could sharply reduce Russian oil flows to Indian refineries, prompting a swift reassessment of energy procurement strategies amid ongoing US-India trade negotiations strained by earlier 25% tariffs on Indian goods.

The Madras High Court has made a landmark ruling by recognizing cryptocurrency as "property" under Indian law, providing legal protection to digital assets for the first time in a judicial decision. This came in a case where an investor's XRP holdings on the WazirX exchange were frozen after a 2024 cyberattack, allowing the court to grant interim relief and assert jurisdiction over such assets. The decision boosts investor confidence in a market where crypto is already taxed as virtual digital assets, but lacks full regulatory clarity, amid growing adoption in India with over 100 million users.

Recent blockbuster deals, including Blackstone's $705 million stake in Federal Bank and Emirates NBD's $3 billion takeover of 60% in RBL Bank, have spotlighted India's banking sector as a hotbed for foreign investment. These moves, part of a $15 billion surge in 2025 mergers and acquisitions—a 127% rise from 2024—highlight surging global trust in India's economic stability and digital banking boom, even as regulators fine-tune ownership rules to balance openness with control.

The Reserve Bank of India (RBI) has proposed new guidelines in a draft circular to speed up the crediting of cross-border inward remittances, mandating same-day credits for payments received during foreign exchange market hours. This initiative addresses delays in fund transfers that currently affect millions of recipients, including Non-Resident Indians (NRIs) and businesses, and aligns with broader efforts to modernize India's payment systems amid record-high remittances of $135.46 billion in FY25.

Commerce and Industry Minister Piyush Goyal announced substantial headway in India-EU Free Trade Agreement (FTA) talks following his three-day visit to Brussels from October 26-28, 2025, stating that 10 out of 20 chapters have been finalized and 4-5 more broadly agreed upon. This comes amid a 12% dip in India's September 2025 exports to the US due to steep tariffs imposed by President Donald Trump, underscoring the urgency to secure stable markets like the EU, where India's merchandise exports reached $82 billion in FY25—nearly matching the $86.5 billion to the US. Both sides reaffirmed a commitment to conclude the deal by year-end 2025, aligning with directives from PM Narendra Modi and EU Commission President Ursula von der Leyen.

On October 29, 2025, the US Federal Reserve, in a closely divided vote, reduced its benchmark interest rate by 25 basis points to a range of 3.75-4.00 percent, marking a cautious easing to support economic growth amid uncertainties from a potential government shutdown and delayed jobs data. The central bank also announced purchases of Treasury securities to ease liquidity strains in money markets, a move aimed at preventing shortages that could ripple through global finance. This decision, dissenting from two policymakers who favored a deeper cut, comes as inflation shows signs of moderation but remains above targets, signaling the Fed's balancing act between growth and price stability—key for emerging economies like India facing capital flow volatility.

The University Grants Commission (UGC) has approved 17 foreign universities to establish campuses in India, including nine from the UK announced during PM Modi's visit to the UK in October 2025. These include institutions like the University of Southampton in Gurugram and the University of York, focusing on cities like Mumbai, NCR, Chennai, and Bengaluru. This surge aligns with the National Education Policy (NEP) 2020's push for internationalization, aiming to reduce outbound student mobility costs (currently $13.6 lakh per student for UG in the UK) and attract global talent amid rising global competition in higher education.

The International Monetary Fund's (IMF) latest Fiscal Monitor report, released in October 2025, has flagged a sharp rise in global public debt, forecasting it to exceed 100% of GDP by 2029—the highest level since 1948. This comes amid growing pressures from higher interest rates and increased spending needs, raising alarms about fiscal stability worldwide. For India, with its public debt at around 81.4% of GDP, the report underscores relative resilience but warns of potential vulnerabilities if deficits persist, as echoed in analyses from The Economic Times and The Hindu.

After back-to-back good monsoons in 2024 and 2025, India is facing a surplus in key crops like rice, wheat, and soyabean, leading to wholesale prices dropping well below the minimum support prices (MSP). This has reversed the earlier focus on curbing high food inflation that hurt consumers, now putting pressure on farmers with low returns, prompting potential policy changes to support the farm sector.

The Reserve Bank of India released its October 2025 bulletin on October 20, highlighting positive signs in domestic demand for September based on high-frequency data like vehicle sales and GST e-way bills. It also downplayed the impact of high US tariffs on India's growth, emphasizing the role of recent GST rate cuts in boosting consumption and offsetting external pressures, amid ongoing global trade tensions.

India and Brazil have agreed to expand the existing Preferential Trade Agreement between India and the MERCOSUR trading bloc, which includes Brazil, Argentina, Uruguay, and Paraguay. This decision came during a meeting in New Delhi between Commerce Minister Piyush Goyal and Brazilian Vice President Geraldo Alckmin, aiming to increase trade volumes and reduce barriers amid growing economic partnerships.

RBI Governor Sanjay Malhotra spoke at the annual meeting of the IMF and World Bank in Washington DC, where he called on other central banks to focus on Central Bank Digital Currencies (CBDCs) instead of stablecoins for handling payments across borders. This comes as more countries are accepting stablecoins, and it shows India's push for safer digital money options that protect national control over currency, especially when private cryptos could affect economic policies.

China has expanded its export controls on rare earth elements and technologies, adding five more elements to its restricted list effective October 9, 2025, amid escalating US-China trade tensions. This move has prompted US Treasury Secretary Scott Bessent to call for support from allies like India against China's actions, potentially accelerating stalled India-US trade negotiations as Indian officials visit Washington this week to address the 50% tariffs imposed on Indian exports due to Russian oil imports, highlighting shared concerns over critical minerals supply chains.

China has recently tightened export controls on rare earth technologies and materials, adding more elements to its restricted list amid rising tensions with the US over tariffs. This move has disrupted global supply chains for key technologies like electric vehicles and wind turbines, prompting India to plan a national stockpile of rare earth elements to protect its growing needs in clean energy and manufacturing sectors.

The Trump administration's 50% tariffs imposed in August 2025 led to a 12% sharp decline in India's merchandise exports to the US in September, but overall exports grew 6.74% to $36.38 billion, mainly driven by growth to China and UAE, while a surge in gold, silver, and fertilizer imports pushed the trade deficit to a one-year high of $31.15 billion, highlighting global trade challenges and India's diversification strategy.

The Reserve Bank of India released the minutes of its Monetary Policy Committee meeting held between September 19 and October 1, 2025, where the panel unanimously decided to keep the repo rate unchanged at 5.5% for the second straight time, emphasizing caution due to global trade uncertainties like US tariffs, while lowering inflation forecasts and raising GDP growth estimates to support India's economic stability.

The Centre is pushing for the Reserve Bank of India (RBI) to oversee two key state-owned institutions—the Employees' Provident Fund Organisation (EPFO) and the Post Office Savings Bank (POSB)—following a Rs 96 crore fraud in POSB and growing concerns over the management of massive social security funds. This move aims to strengthen regulatory controls and improve governance in these critical entities handling trillions in public savings.

China has ramped up its crude oil stockpiling, adding nearly 160 million barrels worth over $10 billion to its reserves in the first nine months of 2025, driven by low global prices and expanding storage capacity. This move, amid ongoing US-China trade tensions and risks of tighter sanctions on key suppliers like Russia and Iran, highlights Beijing's focus on energy security, influencing global oil markets by absorbing excess supply and keeping prices stable.

The International Monetary Fund (IMF) has issued a caution in its latest World Economic Outlook update, drawing similarities between the current boom in Artificial Intelligence (AI) investments and the dot-com bubble of the late 1990s, warning that unmet expectations could lead to sharp market corrections. This comes as global tech giants like Google announce massive AI investments, including a $15 billion commitment to build an AI data centre in India's Andhra Pradesh, underscoring the rapid influx of capital into AI and its potential implications for economic stability worldwide, including in emerging markets like India.

The Employees' Provident Fund Organisation (EPFO) has introduced significant reforms to make partial withdrawals easier for its over 30 crore members, as approved in the 238th meeting of the Central Board of Trustees on October 13, 2025. These changes merge complex rules into three simple categories, allow up to 100% withdrawal of eligible balance while requiring a 25% minimum contribution balance, and reduce minimum service periods, aiming to enhance financial flexibility without compromising long-term retirement security.

The Royal Swedish Academy of Sciences has awarded the 2025 Nobel Prize in Economic Sciences to Joel Mokyr, Philippe Aghion, and Peter Howitt for their pioneering research that explains how innovation and the process of creative destruction have transformed economic stagnation into sustained growth over the past two centuries. Announced on October 13, 2025, this recognition highlights the shift from historical economic flatlines to ongoing progress, offering insights into managing technological changes amid global challenges like AI advancements and trade barriers, which are crucial for countries like India aiming for self-reliant development.

US President Donald Trump recently moderated his threats of imposing 100% tariffs on Chinese goods after a sharp drop in American stock markets, while China firmly stated it would not back down and would fight to protect its interests. This development, following China's new controls on rare earth exports, exposes the limits of using tariffs to fix trade imbalances and provides important hints for India, which is dealing with US tariffs up to 50% on its goods and additional penalties for importing Russian oil, pushing New Delhi toward reforms and stronger ties with Asian economies.

India's ethanol blending program, aimed at reducing oil imports and supporting farmers, has seen a major shift where grains like maize and rice now contribute more to ethanol production than sugarcane-based sources. This transition, highlighted in recent data for the 2024-25 supply year, is driven by favorable pricing policies and poor sugarcane harvests due to droughts, raising concerns about sustainability, food security, and the sugar industry's future amid the push for 20% blending by 2025-26.

China has announced the addition of five more rare earth elements—holmium, erbium, thulium, europium, and ytterbium—to its export control list, effective from November 8, 2025. This move tightens Beijing's grip on the global supply of these critical materials ahead of upcoming talks between US President Donald Trump and Chinese President Xi Jinping, escalating trade tensions and highlighting concerns over national security and high-tech dependencies.

Union Home Minister Amit Shah, while inaugurating the expansion of Sabar Dairy in Gujarat on October 3, 2025, highlighted that India's dairy sector has grown by 70% over the past 11 years, making it the fastest-growing in the world. This announcement underscores the sector's role in boosting rural incomes and national GDP, amid ongoing initiatives like White Revolution 2.0 and recent GST reductions on dairy products to further accelerate growth.

The Centre has announced the identification of 100 Aspirational Agriculture Districts across 29 states and Union Territories under the Prime Minister Dhan-Dhaanya Krishi Yojana (PMDDKY), with Uttar Pradesh leading the list with 12 districts. This move, approved by the Union Cabinet with an annual outlay of ₹24,000 crore, aims to boost agricultural productivity, promote sustainable practices, and achieve self-reliance in underperforming agricultural regions through the convergence of 36 existing schemes.

Chief Economic Adviser V Anantha Nageswaran, speaking at the Bengal Chamber of Commerce and Industry in Kolkata on September 19, 2025, pointed out important choices India must make in shifting to cleaner energy. He stressed that while India aims for sustainability, it cannot let this slow down economic growth or harm finances, especially as the country works towards becoming a developed nation by 2047. This comes amid global talks on climate change and India's push for more renewable energy.

The Comptroller and Auditor General of India (CAG) has unveiled a pioneering decadal study on the finances of all 28 Indian states, spanning from 2013-14 to 2022-23. This report spotlights a dramatic threefold rise in combined public debt, climbing from Rs 17.57 lakh crore to Rs 59.60 lakh crore, amid warnings about states increasingly borrowing for everyday expenses rather than long-term investments, potentially jeopardizing economic stability.

The US Federal Reserve, the central bank of the United States, cut interest rates by 25 basis points on September 17, 2025, bringing the target range to 4-4.25 percent. This move comes at a time when both inflation and unemployment are going up together, making it hard for the Fed to meet its two main goals of keeping prices stable and ensuring as many people as possible have jobs. Fed Chair Jerome Powell shared his thoughts in a press meet, pointing out the tough choices ahead, especially with political pressure from US President Donald Trump. This situation is important for India because US policies affect global trade, oil prices, and the value of the Indian rupee.

The Indian government has set up a special committee to make Quality Control Orders (QCOs) simpler and less strict. This will help over 6 crore micro, small, and medium enterprises (MSMEs) import affordable raw materials without long delays or high costs. The move comes after MSMEs complained that current rules block cheap imports and raise their production expenses. The committee, led by former Cabinet Secretary Rajiv Gauba, will give monthly suggestions to cut red tape while keeping product safety intact.

On September 17, 2025, the European Union released its New Strategic EU-India Agenda, a detailed plan to strengthen ties in key areas like trade, technology, and defence. This comes as leaders from both sides push to wrap up a Free Trade Agreement by the end of 2025 and set up a formal security partnership. The move highlights India's growing role in global affairs and the need for stronger links to handle issues like supply chain risks and regional security, with Prime Minister Narendra Modi calling it a step toward mutual benefits.

Amid apprehensions that businesses might not fully pass on the benefits of recent GST rate reductions to consumers, the Union Finance Ministry has directed its field formations to compile detailed monthly price data on a range of common-use items before and after the new rates take effect on September 22, 2025. This move follows the GST Council's decision to simplify the tax structure into a two-slab system, aiming to ensure transparency and prevent profiteering as part of the broader GST 2.0 initiative.

The Reserve Bank of India (RBI) has been steadily reducing its investments in US Treasury securities as part of a broader strategy to diversify its foreign exchange reserves, with holdings dropping to $227.4 billion in June 2025 from $242 billion a year earlier. This move, which includes boosting gold reserves, comes amid escalating US-India trade tensions under President Donald Trump's administration, which has imposed 50% tariffs on Indian exports, potentially prompting further reductions in US debt holdings to mitigate risks.

European Union's top commissioners for trade and agriculture are arriving in Delhi this week with a 30-member negotiating team to accelerate discussions on the India-EU Free Trade Agreement. This visit follows a recent phone call between Prime Minister Narendra Modi and EU leaders Ursula von der Leyen and Antonio Costa, where they emphasized an early conclusion to the deal. The talks have gained momentum due to the ongoing US tariff war, prompting India to seek concessions similar to those the EU recently offered the US on climate-related trade measures.

The 56th GST Council meeting has introduced significant rate reductions on inputs in key sectors like textiles and fertilizers, easing the inverted duty structure where input taxes exceed output taxes. However, persistent wide gaps between these rates continue to raise concerns among industries, primarily due to delays in input tax credit refunds and resulting working capital blockages, prompting calls for faster processing mechanisms.

Prime Minister Narendra Modi has introduced sweeping GST reforms aimed at stimulating domestic consumption and economic resilience amid escalating global trade tensions and looming U.S. tariffs. The changes involve streamlining the tax structure, providing immediate relief to consumers and MSMEs, and potentially repositioning India’s growth trajectory.