Shyam Agrawal

Rural employment is one pillar. The other pillar of mass employment is the MSME sector, which the Budget 2025-26 strengthened with a fresh definition and a much larger credit guarantee. Micro, Small and Medium Enterprises contribute around 30 percent of India’s GDP and a very large share of total employment outside agriculture. The Budget 2025-26 … Read more

Urban and platform workers are getting new rights through the Labour Codes. Rural workers face a parallel transformation through the proposed replacement of MGNREGA itself. MGNREGA, in force since 2005, has been the largest rural safety net in the world. In December 2025, the government introduced the Viksit Bharat Guarantee for Rozgar and Ajeevika Mission … Read more

External trade pressures often expose internal labour rigidities. India’s four Labour Codes finally consolidated 29 old laws into a single, modern framework that came into force in late 2025. India’s labour landscape was governed by 29 separate central laws, many of them dating from the colonial era. The four Labour Codes, namely the Code on … Read more

While India was busy signing trade deals with friendly partners, the United States imposed steep tariffs on Indian goods. New Delhi’s reaction shaped much of the policy debate in 2025. Soon after taking office, the Trump administration in 2025 imposed sharp tariffs on a range of Indian exports, citing trade imbalances and India’s continued purchase … Read more

A stable rating attracts capital, but real economic gains come from market access. In 2025, India closed more major trade deals than any single year of the past decade. If 2025 had a single foreign economic theme for India, it would be free trade agreements. The India UK Comprehensive Economic and Trade Agreement was signed … Read more

Tax reforms, fiscal discipline, and steady growth have a direct impact on how the world sees India’s creditworthiness. In August 2025, S&P recognised this in a way India had not seen in nearly two decades. On 14 August 2025, S&P Global Ratings upgraded India’s long term sovereign credit rating from BBB minus to BBB with … Read more

Direct tax reform sets the tone, but every consumer in India also pays GST every single day. The 56th GST Council Meeting on 3 September 2025 gave us GST 2.0. If you have followed Indian indirect taxation since 2017, you know that the four slab structure of 5, 12, 18, and 28 percent created endless … Read more

The Budget 2025-26 set the stage for a much bigger change in direct taxation. The Income Tax Act of 1961 is finally being replaced after more than six decades. The Income Tax Act of 1961 grew so complicated over the years that even seasoned chartered accountants needed flowcharts to interpret it. The New Income Tax … Read more

Welcome to our priority series for ISS aspirants. We begin with the most foundational document of the year, the one that shapes almost every Economy answer you write in the exam. Every February, the Union Budget becomes the single most important reference for any Indian Statistical Service aspirant. The Budget 2025-26 is no different. It … Read more