Current Affairs 1 September 2026
The day's 34 most exam-relevant stories, each written out in full: first-quarter GDP, August GST, the SCO summit in Bishkek, the Indus Waters award, Semicon 2.0, the GOBARdhan scheme, a legal basis for Indian Standard Time and more. Events of 31 August that were reported on 1 September are included and dated in the text.
On this page
Key facts at a glance
The numbers and names most likely to turn up in Prelims, Phase 1 or a GA section.
| Topic | What to remember | Source, date |
|---|---|---|
| Real GDP growth, Q1 FY27 | 7.8% (₹81.36 lakh crore); nominal 10.3% | MoSPI, 31 Aug |
| Real GVA growth, Q1 FY27 | 8.2% (₹73.82 lakh crore) | MoSPI, 31 Aug |
| Gross GST, August 2026 | ₹1,99,853 crore, up 14.8% | GST data, 1 Sept |
| Fiscal deficit, April–July | ₹4.55 lakh crore, 26.8% of BE | CGA, 31 Aug |
| HSBC Manufacturing PMI, August | 52.8, a five-year low | S&P Global, 1 Sept |
| Sugar stock limit, bulk dealers | 2,000 quintals (15 Sept–30 Nov) | DFPD, 1 Sept |
| GOBARdhan Central Sector Scheme | ₹23,731 crore till 2035-36; CBG ~10x | In force 1 Sept |
| Semicon 2.0 | Six pillars, ten categories; about ₹1.27 lakh crore | MeitY, 31 Aug |
| Sone water shares | Bihar 5.75 MAF, Jharkhand 2 MAF (of 7.75 MAF) | MoU, 31 Aug |
| IST Rules in force | 180 days after 29 Aug gazette | DoCA |
| SCO 2026–27 chair | Pakistan; English added as official language | SCO, 1 Sept |
| New RBI Executive Director | Shri Suman Ray: DICGC and Premises | RBI, 1 Sept |
| LIC founded | 1 September 1956; 70th anniversary | LIC, 1 Sept |
| INS Nipun | 2nd Nistar-class DSV, built by HSL | Navy, 31 Aug |
Economy
6 storiesIndia's GDP grows 7.8% in April–June 2026, the first quarter of FY27
The National Statistics Office under MoSPI released the first-quarter estimates on 31 August, putting real GDP for April to June 2026 at ₹81.36 lakh crore, 7.8% higher than the ₹75.46 lakh crore recorded a year earlier. Growth in the same quarter of 2025-26 had been 6.9%, so the year-on-year pace has picked up. Nominal GDP, measured at current prices, rose 10.3% to ₹88.27 lakh crore, and real Gross Value Added grew 8.2% to ₹73.82 lakh crore. Manufacturing and services contributed most of the expansion, while agriculture grew more slowly. The next quarterly estimate, for July to September, is due on 30 November 2026, and all these figures use the new 2022-23 base year.
National Accounts Statistics 2026 released on the new 2022-23 base
Along with the quarterly GDP note, MoSPI released the National Accounts Statistics 2026, which updates the annual estimates for 2022-23, 2023-24 and 2024-25. The revision uses a new output Producer Price Index and a Banking Services Price Index, both based on 2022-23, and the quarterly series now draws on the new Index of Industrial Production with the same base. Manufacturing value added is now estimated by double deflation, in which output and inputs are deflated separately using their own price indices. MoSPI has said a detailed Sources and Methods volume will follow. The release is a useful prompt to revise the difference between GDP and GVA, real and nominal growth, and why a base-year change can alter past growth rates.
August GST collections rise 14.8% to ₹1,99,853 crore
Provisional figures released on 1 September put gross GST revenue for August 2026 at ₹1,99,853 crore, up 14.8% from ₹1,74,116 crore in August 2025. Gross domestic revenue grew 9.3% to ₹1,37,249 crore, while GST on imports rose 29% to ₹62,604 crore. Refunds increased by about 68% to ₹31,795 crore, so net GST grew 8.3% to ₹1,68,057 crore. For April to August, gross collections reached ₹10,42,757 crore, an increase of 11% over the same period of FY26.
Fiscal deficit reaches 26.8% of the FY27 target by July
Monthly accounts released by the Controller General of Accounts on 31 August show that the Centre's fiscal deficit for April to July 2026 was ₹4.55 lakh crore, or 26.8% of the budget estimate for the year. In the same four months of the previous year, the deficit had reached 29.9% of the annual target. The full-year target is ₹16.96 lakh crore, equal to 4.3% of GDP. Net tax revenue reached 29.5% of its annual estimate, and total expenditure was ₹17.62 lakh crore, or 32.9% of the budget estimate.
Manufacturing PMI eases to 52.8, its lowest reading in five years
The HSBC India Manufacturing Purchasing Managers' Index, compiled by S&P Global from a panel of about 400 manufacturers, fell to 52.8 in August from 53.5 in July. A reading above 50 means activity is still expanding, but this was the slowest improvement in factory conditions in five years and the third consecutive monthly decline. The output sub-index fell to its lowest level since August 2021, and factory employment edged down for the first time in about two and a half years. Input-cost inflation eased to a six-month low and output-price inflation fell to a 45-month low. Read alongside the 7.8% first-quarter GDP figure, the survey indicates slower momentum at the start of the second quarter.
Sugar stock-holding limit for bulk dealers cut to 2,000 quintals
The Department of Food and Public Distribution announced on 1 September that the stock limit for sugar held by bulk dealers will be reduced from 4,000 quintals to 2,000 quintals across the country. The revised limit applies from 15 September to 30 November 2026, while Kolkata and its extended metropolitan area keep the 4,000-quintal ceiling. Dealers also may not hold any stock for more than 30 days from the date of receipt. The department said the measure is meant to prevent hoarding and speculative trading and to keep retail prices reasonable during the festive season. Stock limits of this kind are issued under the Essential Commodities Act, 1955.
Banking & Markets
4 storiesRBI appoints Shri Suman Ray as Executive Director
The Reserve Bank of India announced on 1 September that Shri Suman Ray has been appointed Executive Director with effect from that day. He was previously Regional Director for Maharashtra and, over more than three decades in the central bank, has worked in currency management, financial inclusion, payment and settlement systems, consumer education and protection, and human resources. As Executive Director he will look after the Deposit Insurance and Credit Guarantee Corporation and the Premises Department. DICGC is a wholly owned RBI subsidiary that insures bank deposits up to ₹5 lakh per depositor per bank.
UPI to be accepted in Uzbekistan through the UZQR network
NPCI International Payments Ltd, the overseas arm of the National Payments Corporation of India, signed a commercial agreement on 30 August with Uzbekistan's National Interbank Processing Centre, which runs the HUMO payment system. Once the service goes live, Indian travellers will be able to scan Uzbekistan's national interoperable QR code, UZQR, with their UPI apps and pay merchants from their Indian bank accounts. The agreement follows approvals from the RBI and the Central Bank of Uzbekistan and was announced during the state visit of Hon'ble Prime Minister Shri Narendra Modi to Tashkent. The PIB release lists ten countries where UPI is already accepted, including Singapore, the UAE, France, Mauritius, Nepal, Bhutan and Sri Lanka. No go-live date has been announced yet.
India Post Payments Bank marks its ninth Foundation Day with new digital services
India Post Payments Bank, which functions under the Department of Posts, marked its ninth Foundation Day on 1 September by launching the DakPay Sound Box for merchants. It also introduced a Digital Insurance Technology Platform and a Digital Mutual Fund Platform to extend these products through its postal network. IPPB was launched on 1 September 2018 as a payments bank, a category that can accept deposits up to a set limit but cannot lend. According to reports, it had about 13.25 crore customers as of 31 March 2026, most of them in rural areas and nearly half of them women. Payments banks are licensed by the RBI under Section 22 of the Banking Regulation Act, 1949.
LIC completes 70 years and introduces two new plans
Life Insurance Corporation of India marked its 70th anniversary on 1 September 2026, having been established on 1 September 1956 under the LIC Act, 1956, which nationalised the life insurance business. On the occasion it unveiled two products: LIC's Bima Platinum (Plan 770), a non-participating savings plan, and LIC's Jeevan Raksha (Plan 894), a pure protection plan. The launch was announced by the Corporation's CEO and Managing Director, Shri R. Doraiswamy. LIC is regulated by the Insurance Regulatory and Development Authority of India and was listed on the stock exchanges in May 2022. Aspirants should note the founding year and the statute, which are frequent GA questions.
Polity & Governance
5 storiesOver 6 crore names left off draft rolls in the third phase of SIR
The Hindu reported on 1 September that the third phase of the Election Commission's Special Intensive Revision, covering 16 States and three Union Territories, has left about 6.15 crore names off the draft electoral rolls. As these are draft rolls, eligible voters can still file claims and objections before the final lists are published. The revision is carried out under Article 324 of the Constitution and the Representation of the People Act, 1950.
Census operations in Manipur deferred
After a review meeting in New Delhi on 31 August chaired by Union Home Minister Shri Amit Shah and attended by the Governor of Manipur, Shri Ajay Kumar Bhalla, and the Chief Minister, Shri Yumnam Khemchand Singh, the Centre deferred Census operations in the State. House-listing for Census 2027 had been scheduled to begin in Manipur on 1 September. Several community organisations had asked that a National Register of Citizens be updated first, with 1951 as the base year. On the same day a Special Bench of the Manipur High Court ordered that the exercise remain deferred, with reports saying the hold runs until 12 October. The Census is a Union subject conducted under the Census Act, 1948.
Supreme Court uses Article 142 to close FIRs against NEET-UG protesters
On 1 September a three-judge Bench headed by Hon'ble Chief Justice of India Shri Justice Surya Kant, with Justices Joymalya Bagchi and V. Mohana, invoked Article 142 of the Constitution to quash FIRs against students who protested between 20 and 25 July 2026 over the NEET-UG 2026 paper leak. The relief applies in every State and Union Territory, and no fresh FIRs may be registered over those protests. The Delhi Police may still proceed against 2,873 persons, but only in respect of bodily harm or damage to property. The Court also asked the Centre to frame, within three months, a policy on compensation for the families of students who died by suicide after the leak. Article 142 lets the Supreme Court pass any order needed to do complete justice in a case before it.
Legal Metrology (Indian Standard Time) Rules, 2026 make IST the legal time reference
The Department of Consumer Affairs notified the Legal Metrology (Indian Standard Time) Rules, 2026 on 27 August, and they were published in the Gazette on 29 August. The rules make IST the common, legally recognised and traceable time reference for legal, administrative, commercial and official purposes, and they take effect 180 days after publication, around late February 2027. CSIR-National Physical Laboratory maintains IST with an ensemble of atomic clocks, and secondary time scales operate at five Regional Reference Standard Laboratories in Ahmedabad, Bengaluru, Bhubaneswar, Faridabad and Guwahati. IST can be distributed over the internet using NTP and PTP and by satellite through ISRO's NavIC system. The government describes the initiative as 'One Nation, One Time'.
Bihar and Jharkhand sign an agreement on sharing Sone river water
Bihar and Jharkhand signed a memorandum of understanding in New Delhi on 31 August, in the presence of Union Home Minister Shri Amit Shah, on sharing the waters of the Sone river. The 1973 Bansagar Agreement had allocated 7.75 million acre-feet of Sone water to undivided Bihar, and the question of shares arose after Jharkhand was formed in 2000. Under the new formula, reported to follow Central Water Commission recommendations, Bihar receives 5.75 MAF and Jharkhand 2 MAF. The agreement is expected to help long-pending irrigation projects, including the proposed Indrapuri reservoir on the Sone. It is a useful example of inter-State water sharing settled by agreement.
International Relations
5 stories26th SCO summit in Bishkek adopts the Bishkek Declaration; Pakistan takes the chair
The 26th meeting of the SCO Council of Heads of State was held on 1 September in Bishkek, chaired by H.E. President Sadyr Japarov of Kyrgyzstan, and Hon'ble Prime Minister Shri Narendra Modi attended. Leaders approved 28 documents, including the Bishkek Declaration marking 25 years of the organisation and a protocol amending the SCO Charter, and English was added as an official and working language alongside Russian and Chinese. They also approved a Universal Centre for Countering Challenges and Threats to the security of member states. India presented its approach to the grouping as Security, Connectivity and Opportunity and offered to host the first SCO Civilisational Dialogue Forum. Pakistan took over the 2026–27 chair, and Lahore was named the SCO Tourism and Cultural Capital for that year.
Hon'ble Prime Minister meets H.E. President Vladimir Putin in Bishkek
Hon'ble Prime Minister Shri Narendra Modi met H.E. President Vladimir Putin of Russia in Bishkek on 31 August, on the sidelines of the SCO summit, and called for a move 'from endless war towards end of war' in Ukraine. According to the Ministry of External Affairs, the leaders discussed the situation in West Asia and the Black Sea and its effect on maritime trade and the safety of Indian seafarers. They welcomed the outcome of the 27th India–Russia Inter-Governmental Commission held in Moscow on 24 August. Foreign Secretary Shri Vikram Misri briefed the media on the status of Indian nationals who had been recruited into the Russian armed forces. The Prime Minister said he looked forward to welcoming the Russian President to New Delhi for the 18th BRICS Summit on 12 and 13 September.
Hon'ble Prime Minister meets H.E. President Masoud Pezeshkian of Iran
On the sidelines of the SCO summit in Bishkek, Hon'ble Prime Minister Shri Narendra Modi met H.E. President Masoud Pezeshkian of Iran, the first leader-level meeting between the two countries since the conflict involving Iran began in February. India called for freedom of navigation and commerce in the Strait of Hormuz and for the protection of civilians, commercial shipping and seafarers. The Iranian side asked India to support dialogue through its contacts with the parties concerned, and both sides discussed broadening trade. The Prime Minister said he looked forward to welcoming the Iranian President to India for the BRICS summit. Chabahar port and the International North–South Transport Corridor are India's main connectivity projects involving Iran.
Court of Arbitration issues Indus Waters award; India rejects it
On 31 August the Court of Arbitration hearing Pakistan's case under the Indus Waters Treaty issued an Award on the status of the treaty and an Order on interim measures relating to the Ratle Hydro-Electric Project, with the Permanent Court of Arbitration at The Hague acting as registry. The court held that India's April 2025 decision to keep the treaty in abeyance, taken after the Pahalgam attack, was not justified, and it restricted further concreting at Ratle until 90 days after the Neutral Expert's final decision. The Ministry of External Affairs rejected the award, said India has never recognised the court, which it described as 'illegally constituted', and stated that the abeyance remains in force. India's position is that Article IX of the treaty sets a graded process, from the Permanent Indus Commission to a Neutral Expert, before any arbitration.
India and Uzbekistan upgrade ties to a Comprehensive Strategic Partnership
During the state visit of Hon'ble Prime Minister Shri Narendra Modi to Tashkent on 29 and 30 August, India and Uzbekistan raised their relationship to a Comprehensive Strategic Partnership and set a goal of more than $5 billion in annual trade by 2030. Eleven agreements were signed, covering culture, archives, traditional medicine, geology and mineral resources, tourism, higher education, environmental protection and a finance dialogue, as well as a partnership between Gujarat and the Samarkand region. India announced a $1 million grant for afforestation in the Aral Sea region, 100 Lal Bahadur Shastri scholarships for Hindi and an ICCR Sanskrit Chair at Tashkent State University of Oriental Studies. A letter of intent covers the restoration of the ancient Buddhist sites of Fayaz Tepa and Kara Tepa in Termez. The list of outcomes was published by the Prime Minister's Office.
World
2 storiesUnited States resumes strikes on Iran amid tension in the Strait of Hormuz
US Central Command said American forces resumed strikes on Iran on 1 September, starting at 16:00 GMT (9:30 pm IST), citing attempted attacks by the Islamic Revolutionary Guard Corps on commercial shipping in the Strait of Hormuz and on US personnel. Days earlier, the US had struck two rocket launchers on Larak Island, and Iran had fired missiles at air bases in Jordan and a drone towards the UAE, which were intercepted. Iranian state media reported strikes in the counties of Chabahar and Konarak and explosions on Qeshm Island and at Bandar Abbas. The conflict began on 28 February, and shipping through Hormuz has been heavily disrupted since then. For India the developments bear on energy security, the safety of Indian crews and the Chabahar port project.
G20 finance ministers meet in Asheville under the US presidency
US Treasury Secretary Scott Bessent opened the meeting of G20 finance ministers and central bank governors in Asheville, North Carolina, on 31 August, as the United States holds the G20 presidency in 2026. The agenda he set out included growth, deregulation, energy, global imbalances, banking regulation and sovereign debt restructuring for developing countries. Discussions took place against the background of renewed hostilities involving Iran and differences among members over tariffs. The US side said it would continue financial measures against Iran. India is a founding member of the G20, which began as a finance ministers' forum in 1999 and was raised to the level of leaders in 2008.
Schemes & Missions
4 storiesSemicon 2.0 notified with six pillars and a ₹1.27 lakh crore outlay
On 31 August, Union Minister for Electronics and IT Shri Ashwini Vaishnaw released the notifications for all six pillars of the Semicon 2.0 scheme: design, machines and materials, fabs, ATMP and OSAT packaging units, research and development, and talent. The outlay is about ₹1.27 lakh crore and builds on the first Semicon India Programme of ₹76,000 crore approved in December 2021. The pillars cover ten categories, including silicon wafer fabs, compound semiconductor and display fabs, and a deployment-linked incentive for Indian chip designs. The India Semiconductor Mission is the nodal agency, projects can run for up to six years, and applications will be accepted for three years initially. The Minister said 85,000 semiconductor engineers had been trained in four years and set a target of one lakh more.
GOBARdhan Central Sector Scheme comes into effect
The GOBARdhan Central Sector Scheme for Compressed Biogas came into effect on 1 September 2026. It has an outlay of ₹23,731 crore and runs until 2035-36, after approval by the Union Cabinet on 6 August 2026. The scheme aims to raise India's production of Compressed Biogas nearly tenfold by converting cattle dung, crop residue and other organic waste into fuel and organic manure. It also seeks to draw private investment into biogas plants and to support a circular bio-economy in rural areas. Aspirants can link it to the SATAT initiative for CBG and to the goals of Swachh Bharat Mission (Grameen).
Hon'ble Vice-President releases 'Mission Rangeen Machhli 2031' for ornamental fisheries
On his first visit to Lakshadweep, Hon'ble Vice-President Shri C. P. Radhakrishnan released Mission Rangeen Machhli 2031, a strategic action plan for ornamental fisheries, at a fisheries outreach programme in Agatti on 31 August. The plan sets common standards for breeding, hatcheries, quarantine, biosecurity, health management, traceability and trade in ornamental fish. He said fisheries projects worth more than ₹62 crore had been approved for Lakshadweep under the Pradhan Mantri Matsya Sampada Yojana, and that the islands have a fisheries potential of about one lakh tonnes, including 94,000 tonnes of tuna. India's seafood exports crossed ₹73,000 crore in the last financial year. Union Fisheries Minister Shri Rajiv Ranjan Singh attended the event.
Railways sanction Kavach 4.0 for the Moradabad Division
Indian Railways sanctioned ₹170 crore on 1 September to install Kavach 4.0, the indigenous Automatic Train Protection system, on the remaining 712 route-km of the Moradabad Division of Northern Railway. It also approved ₹233 crore for Electronic Interlocking at 21 stations of the Samastipur Division of East Central Railway. Kavach was developed by the Research Designs and Standards Organisation with Indian industry and is designed to apply the brakes automatically if a loco pilot fails to act on a signal or speed limit. Version 4.0 was approved in 2024 with improvements in accuracy and communication. Electronic Interlocking replaces older relay-based signalling and reduces the chance of human error at stations.
Environment
1 storyIndia and Germany sign a wetlands declaration at the 4th Indo-German Environment Forum
The 4th Indo-German Environment Forum was held in New Delhi on 1 September on the theme 'Together for More Resilience'. It was co-chaired by Union Minister for Environment, Forest and Climate Change Shri Bhupender Yadav and Germany's Federal Environment Minister Carsten Schneider. Discussions also covered climate resilience and the circular economy. The forum was set up in 2008 and is the highest-level bilateral platform between the two countries on environmental policy.
Science & Tech
3 storiesC-DOT unveils 14 indigenous quantum-safe communication products
The Centre for Development of Telematics, the telecom R&D centre of the Department of Telecommunications, unveiled 14 indigenous products in quantum key distribution and post-quantum cryptography at its 43rd Foundation Day in New Delhi, in the presence of Union Communications Minister Shri Jyotiraditya Scindia. They include Q-AKSHAY systems that distribute quantum keys over optical fibre, a single-photon detector, and encryptors such as Q-MAHASETU, rated up to 40 Gbps, and Q-AMOGH, an optical encryptor rated up to 200 Gbps. The encryptors use post-quantum algorithms standardised by the US National Institute of Standards and Technology. The products are intended to protect telecom, enterprise and defence networks against future quantum computers.
Researchers report a very large thermoelectric voltage in scandium nitride films
Researchers from JNCASR in Bengaluru, working with the Indian Institute of Science and the University of Sydney, reported that heavily doped and highly compensated thin films of scandium nitride produce an unusually large thermoelectric voltage. The films showed a Seebeck coefficient of more than about 124 millivolts per kelvin near room temperature, far above the few millivolts per kelvin usually seen in crystalline solids. The Seebeck effect is the voltage that appears across a material when one side is hotter than the other. Possible applications include highly sensitive temperature sensors, quantum sensing and low-noise thermal imaging. The finding is a laboratory result and not a record for a working thermoelectric generator.
ISRO prepares GSLV-F17 to launch EOS-05 (GISAT-1A)
On 1 September ISRO was preparing to launch EOS-05, also called GISAT-1A, on GSLV-F17 from Sriharikota on 4 September. The satellite is designed to observe India continuously from geosynchronous orbit, about 35,786 km above the Earth, supporting disaster management, agriculture and forest monitoring. It replaces GISAT-1, which was lost in August 2021 when the cryogenic stage of GSLV-F10 failed. ISRO later confirmed that GSLV-F17 lifted off at 2:55 am IST on 4 September and placed the 2,367 kg satellite into a transfer orbit. The satellite will raise its own orbit to reach its final geosynchronous position.
Defence
2 storiesNavy commissions INS Nipun, its second Nistar-class diving support vessel
The Indian Navy commissioned INS Nipun at Naval Dockyard, Mumbai, on 31 August in a ceremony presided over by the Chief of the Naval Staff, Admiral Krishna Swaminathan. The ship was designed and built by Hindustan Shipyard Limited, Visakhapatnam, and is the second diving support vessel of the Nistar class, after INS Nistar. It supports saturation, air and heliox diving, carries remotely operated underwater vehicles, and has dynamic positioning along with life-support and medical facilities. It can also act as a mother ship for submarine rescue operations. INS Nipun will be based on the west coast under the Western Naval Command, and its motto is 'Far Beneath, Few Beyond'.
Air Vice Marshal Shakti Sharma becomes the first non-medical woman two-star officer
Air Vice Marshal Shakti Sharma took over as Assistant Chief of the Air Staff (Education) at Air Headquarters, New Delhi, on 1 September 2026. With this, she became the first woman officer from a non-medical stream of the Indian armed forces to reach two-star rank. She was commissioned into the Indian Air Force on 18 June 1994. Earlier in her career she became the first woman to command Sainik School Kapurthala. Air Vice Marshal in the IAF is equivalent to Major General in the Army and Rear Admiral in the Navy.
Sports
1 storyGermany retain the men's Hockey World Cup; Argentina win the women's title
Germany beat Spain 1-0 in the men's FIH Hockey World Cup final at Wavre, Belgium, on 30 August, with Michel Struthoff scoring the only goal in the third quarter. The result retained the title Germany won in 2023 and gave them a fourth men's World Cup, equalling Pakistan's record. The 2026 tournament was co-hosted by Belgium and the Netherlands. In the women's final at Amstelveen a day earlier, Argentina drew 1-1 with the Netherlands and then won the shootout 3-1 for their third women's world title.
Important Days
1 storyNational Nutrition Week begins on 1 September; Poshan Maah follows
National Nutrition Week is observed every year from 1 to 7 September to raise awareness about healthy diets and good nutrition. The Food and Nutrition Board of the Government of India began the observance in 1982, and it is now part of the nutrition campaign run by the Ministry of Women and Child Development. The whole of September is also marked as Rashtriya Poshan Maah under POSHAN Abhiyaan, which was launched in March 2018 at Jhunjhunu in Rajasthan. According to DD News, the ninth Poshan Maah in 2026 was launched on 9 September in Varanasi with a focus on Anganwadi centres and community nutrition. No official theme for National Nutrition Week 2026 was found, so none is quoted here.
Quick-revision MCQs
Tap an option to check it. Every question comes from the stories above.
Q1.Real GDP growth for Q1 (April–June) of FY 2026-27, as released by MoSPI on 31 August 2026, was:
Answer: B. Real GDP grew 7.8%. 8.2% is real GVA growth, 10.3% is nominal GDP growth and 6.9% was Q1 of FY26.
Q2.Under the Bihar–Jharkhand Sone MoU of 31 August 2026, Jharkhand's share of Sone water is:
Answer: C. Of the 7.75 MAF allotted to undivided Bihar under the 1973 Bansagar Agreement, Bihar gets 5.75 MAF and Jharkhand 2 MAF.
Q3.Life Insurance Corporation of India was established in which year?
Answer: B. LIC was set up on 1 September 1956 under the LIC Act, 1956.
Q4.Which language was added as an official and working language of the SCO at the Bishkek summit?
Answer: C. English was added alongside Russian and Chinese.
Q5.Which institution maintains Indian Standard Time under the Legal Metrology (IST) Rules, 2026 framework?
Answer: B. CSIR-NPL generates IST with an ensemble of atomic clocks; NavIC and internet protocols help distribute it.
Q6.Shri Suman Ray, appointed RBI Executive Director from 1 September 2026, will look after:
Answer: B. He oversees the Deposit Insurance and Credit Guarantee Corporation and the Premises Department.
Q7.The GOBARdhan Central Sector Scheme that came into effect on 1 September 2026 runs until:
Answer: C. The scheme has an outlay of ₹23,731 crore and runs until 2035-36.
Q8.The GOBARdhan Central Sector Scheme for Compressed Biogas came into effect on:
Answer: B. It came into effect on 1 September 2026.
Q9.LIC, which completed 70 years on 1 September 2026, was established under:
Answer: B. LIC was set up on 1 September 1956 under the Life Insurance Corporation Act, 1956.
Q10.INS Nipun, commissioned on 31 August 2026, was built by:
Answer: C. INS Nipun, the second Nistar-class diving support vessel, was built by Hindustan Shipyard Limited, Visakhapatnam.
Source: PIB, RBI, The Indian Express, The Times of India, Hindustan Times, Business Standard, Mint and LIC.
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