Economy

CGSMFI-2.0 was introduced by the Central Government on March 20, 2026. The scheme provides guarantee cover to banks and financial institutions through the National Credit Guarantee Trustee Company Limited against expected losses on financial assistance extended to NBFC-MFIs and MFIs. These institutions then lend the funds onward to small borrowers. As of the latest update, loans worth ₹770 crore have already been sanctioned under the scheme.

GeM was created to make government buying more transparent, faster and more accessible. The platform allows central ministries, state departments, public sector undertakings and other government-linked institutions to buy goods and services through a digital system. Digital India describes GeM as a unified platform for end-to-end procurement, built on the principles of efficiency, transparency and inclusivity.

The timing of the move is important because the monsoon season places heavy pressure on highway drainage systems. Waterlogging, blocked drains, silt accumulation and damaged road shoulders can reduce road safety and affect traffic movement. By mandating mechanized cleaning of lined drains in urban and built-up areas of National Highways and Expressways, NHAI is giving drainage maintenance a more preventive and time-bound structure.

The first shipment, dispatched on 7 June 2026, consisted of one metric tonne of GI-tagged Tezpur Litchi. The fruit is widely known for its bright red appearance, rich sweetness, pleasant aroma and superior eating quality. Tezpur’s litchi-growing belt produces several well-known varieties such as Bombaya, Bilati, Elaichi, Piyaji and Sahi, each valued for its distinct flavour and quality.

The numbers show the scale of ambition. India’s space economy, valued at about 8.4 billion dollars in 2023, is officially projected to reach around 44 billion dollars by 2033 and about 100 billion dollars by 2040. This means India wants to raise its share in the global space economy from a small base to a much larger position over the coming decade.

SBI’s payout also reflects the strength of India’s banking system. For FY26, SBI reported a net profit of ₹80,032 crore, recording 12.88 percent year-on-year growth. Its fourth-quarter net profit stood at ₹19,684 crore, while operating profit for the full year rose 11.25 percent to ₹1,23,015 crore. These figures show that the bank has delivered growth across both profitability and operational performance.

The strongest pillar behind the improvement was the services sector. India’s net services receipts rose to USD 60.4 billion in the January–March quarter, supported by computer services, business services and other export-oriented segments. This once again highlights the strategic value of India’s services economy. Software, IT services, consulting, business-process operations, financial services and professional exports continue to act as a powerful cushion for the external account.