CPI Base Revision Exercise Updates Basket of Goods and Services to Reflect 2024 Consumption Patterns

Manufacturing GVA: NSO's ₹38.6 Lakh Cr Estimate vs ASI-ASUSE ₹27.4 Lakh Cr Shows 40.9% Gap

The official National Accounts Statistics put manufacturing GVA at ₹38.6 lakh crore for 2023-24, but an alternative estimate using ASI and ASUSE data is only ₹27.4 lakh crore — a gap of 40.9%. Even after adding residual workers' potential output, ₹7.6 lakh crore (19.7%) remains unexplained, raising serious questions about the NSO's methodology. For exam aspirants, this is key to understanding GDP estimation, MCA-21 data use, and statistical reliability debates.

NITI Aayog Proposes Licensing Reforms in Law, Healthcare, Engineering; Services 55% of GDP

NITI Aayog has proposed wide-ranging regulatory reforms for professional services — law, accounting, architecture, engineering, and healthcare — covering licensing, business structures, interstate mobility, and mutual recognition with other countries. The report notes services form 55% of GDP and India is the seventh-largest services exporter with 4.3% global share. For aspirants, this is a high-yield governance/economy topic for Prelims data and Mains on services-led growth.

MoSPI: Better Informal Sector Data via ASUSE & PLFS Drives Downward Revision in Nominal GDP

India's new GDP series (base 2022-23) shows lower nominal GDP for past years, primarily because direct annual surveys (ASUSE, PLFS) now replace proxy-based estimates for the informal sector. This is a data quality improvement, not an economic slowdown — a critical distinction for exam questions on GDP measurement and methodology.

Tata Trusts’ 66% Stake & Affirmative Voting Rights under Articles 104B, 121: SC Verdict Explained

Tata Trusts, holding about 66% of Tata Sons, are challenging the reappointment of N Chandrasekaran as executive chairman, citing the affirmative voting rights of their nominee directors under the Articles of Association. The Supreme Court’s 2021 Tata-Mistry judgment upheld these special rights, making it the key legal backdrop to the current boardroom dispute. For exams, this news tests corporate governance, fiduciary duties, and the binding force of a company’s Articles.

India's QCO Reassessment: 88 to 765 Products Covered; Transition Facilitation Order 2026 for MSMEs

India rapidly expanded Quality Control Orders (QCOs) from 88 products (2019) to 765 (Dec 2024). A recent study reveals QCOs on inputs hurt MSME profitability by 47.6% and even larger firms' value addition. The 2026 Transition Facilitation Order aims to ease compliance, but reassessment of 600+ products remains critical for manufacturing competitiveness.

Anti-Dumping Duty on Chinese TiO2: DGTR Final Findings (Aug 3, 2026) - Centre Assures KMML, TTPL

The Centre has assured Kerala of imposing anti-dumping duty on Chinese titanium dioxide following DGTR's final findings. This protects PSUs like KMML and TTPL from low-cost imports. Key for Prelims: DGTR process, anti-dumping mechanism, and dates.

Make in India 12-Year Review: PLI Schemes Show Concentration, Manufacturing Growth Patchy

Make in India completes 12 years with mixed results: manufacturing growth has been inconsistent, PLI schemes attracted ₹2.4 lakh crore but concentrated in top 5 sectors, employment impact limited to 8.5 lakh direct jobs. Key data for exams: non-petroleum exports grew 53% to $388.3B, capacity utilisation remains below 80%.

ICAI Reviews CA Curriculum to Integrate AI, ESG, Forensic Auditing; Launches AURA 2.0 and International Programme

ICAI is overhauling the CA curriculum to include AI, data analytics, ESG, and forensic auditing to keep pace with global technological shifts. It is also developing an international CA programme for countries like Mauritius, Nepal, and African nations, and launching advanced AI training for members and students.