RBI Holds Repo Rate at 5.25%; SC Judges Bill Passed as Money Bill; FCRA Amendment Sparks Controversy

Cabinet Approves Rs 23,731 Cr GOBARdhan Scheme; Rajya Sabha Clears Rs 54,067 Cr Appropriation Bill

The UPSC Key article covers multiple critical topics: the Rajya Sabha cleared the Appropriation Bill for Rs 54,067 Cr excess expenditure, the Cabinet approved the Rs 23,731 Cr GOBARdhan scheme to boost CBG production, and new high-resolution images of the Sun's surface were captured. Also includes data on road safety Good Samaritans, school consolidation, and ethanol policy.

FCRA Amendment Bill 2026: Foreign Funding Limits, NGO Data, and Domestic Philanthropy Gaps

The government's proposed FCRA Amendment Bill 2026 tightens foreign funding rules, vesting assets in a designated authority upon cancellation. With 22,496 NGO registrations already cancelled, the article analyzes whether Indian domestic philanthropy (₹1.43 lakh crore) can fill the gap, making it a critical governance and polity topic for exams.

Centre's ₹62,500 Cr Mobile Scheme, RBI's $72.85 Bn Swap, and E20 Nationwide

The UPSC Key covers multiple critical topics: a new ₹62,500 crore mobile manufacturing scheme with two tracks, India-Mauritius fuel supply agreement, RBI's special forex swap attracting $72.85 billion, India-Bangladesh tensions over extradition, E20 ethanol fuel rollout, and unemployment data. This is a goldmine for Prelims and Mains questions across Economy, IR, Polity, and Environment.

SCO Bishkek Declaration, INS Nipun, Form 7 & Distinguished Jurist: UPSC Exam Focus

The UPSC Key article for September 2, 2026, covers the SCO Bishkek Declaration, Form 7 for electoral roll deletion, commissioning of INS Nipun, and the unused provision for appointing a distinguished jurist as SC judge, along with other exam-relevant topics like GDP growth, Indus Waters Treaty, and climate-health syndemic.

Taxation and Other Laws (Amendment) Bill 2026 Allows MDR on UPI: Subsidy Falls to ₹2,000 Cr in FY27

UPI, currently free for users, may become chargeable after the government introduced the Taxation and Other Laws (Amendment) Bill, 2026. The Bill allows the government to notify transactions that can attract Merchant Discount Rate (MDR), potentially ending the zero-MDR regime. For students, this is a key economy/polity topic linking digital payments, financial inclusion, and fiscal policy.

Madras HC Confers Legal Personhood on Tamirabharani River via Deity Status to Bypass SC Ruling

The Madurai Bench of the Madras High Court has ruled that the Tamirabharani river can be treated as a legal person by categorising it as a deity, effectively circumventing the Supreme Court's 2023 decision that non-human entities cannot be granted legal personhood. This allows the court to enforce pollution control measures against religious waste dumping, balancing Article 25 (religious freedom) and Article 21 (right to healthy environment).

Parliament Passes Mines and Minerals Amendment Act 2026 Overriding SC Ruling, Extinguishes Rs 2 Lakh Cr Dues

The Mines and Minerals (Development and Regulation) Amendment Act, 2026 restricts states from imposing specified levies on mineral rights and extinguishes ~Rs 2 lakh crore in unpaid dues. Mineral-rich states like Odisha and Jharkhand oppose it as a blow to federal fiscal autonomy, potentially losing thousands of crores annually. This reverses the financial impact of a landmark 2024 Supreme Court ruling that had empowered states to tax mineral-bearing lands.

Parliament Passes MMDR Amendment 2026 Restricting States' Levy Powers on Mineral Rights

Parliament has passed the Mines and Minerals (Amendment) Bill, 2026, limiting states' power to impose taxes on mineral rights, overriding a Supreme Court judgment that upheld such state powers. This move aims to boost investment certainty but has sparked concerns over fiscal federalism and state revenues, especially for mineral-rich states like Odisha, Jharkhand, and Chhattisgarh.