News on Indian Economy
The new mission represents a major increase from the ₹76,000 crore allocated under the first phase and was announced as part of the Union Budget 2026–27. ISM 2.0 is designed to accelerate the development of a complete semiconductor ecosystem, covering chip design, manufacturing, semiconductor equipment, raw materials, indigenous intellectual property, and resilient supply chains.
The achievement comes nearly a decade after AGEL commissioned its first renewable energy project at Kamuthi, Tamil Nadu, in 2016. During FY26, the company added 5,051 MW of renewable energy capacity, marking one of the largest annual additions by any renewable energy company outside China.
Domestic GST collections stood at ₹1.35 lakh crore, reflecting a 6.5% increase compared to the same month last year. Meanwhile, GST collected on imports surged 34.6% to ₹60,038 crore, making it the biggest contributor to the month’s overall growth.
Shri Piyush Goyal said that the launch marks another important milestone in the global expansion of India’s digital payment ecosystem. He said that, with UPI now live in Greece, eligible customers can transfer money instantly, securely, and seamlessly, with transaction costs reduced significantly to a fraction of those associated with conventional money transfer methods.
The project seeks to commercialize an indigenous next-generation load sensing technology designed for elevators, material handling systems, cable machinery, industrial automation, and other safety-critical applications.
The framework will be uniformly applicable across projects being implemented under various modes of construction, thereby creating a consistent quality assurance mechanism across different project delivery formats.
The outcome was not accidental. It was the result of years of preparation, diversified sourcing, refinery flexibility, emergency regulation, consumer protection measures and coordinated work between the Centre, oil marketing companies, refineries, state governments and infrastructure regulators.
The May 2026 data is important because it comes under the new IIP series with base year 2022–23. The release also marks a methodological transition in the compilation of industrial production data, with MoSPI adopting the Output Producer Price Index as the deflator in place of the Wholesale Price Index for item groups where production is reported in value terms. This change affects 234 out of 463 item groups in the IIP basket, representing 36.02 percent of the total index weight.
The temporary measures were introduced on 12 June 2026 during the disruption caused by the West Asia crisis. At that time, international fuel prices had risen sharply, while the Government continued to protect retail consumers by keeping petrol and diesel prices stable. This created a wide difference between retail fuel prices and the rates applicable to bulk consumers.
A major part of the programme includes interactions at The Athens Startup Business Incubator, where Indian representatives are expected to engage with startup founders, innovators and enterprise leaders. The platform is being used to showcase next-generation business ideas and explore partnerships in technology, digital solutions and emerging industries.
