CivilsIASPrep.comUPSC Current Affairs for 2026-09-17
Use this daily collection to understand why each development matters, then verify time-sensitive facts through the linked sources before adding them to notes.
- Mining amendment is unfair to StatesEconomy · The article critiques a recent mining amendment that reduces state revenue share from mineral extraction.
- FM urges industry to look beyond rate cuts to compliance and revenue; calls for robust tax policy researchEconomy · Finance Minister Nirmala Sitharaman urged industry to move beyond rate cut demands and called for independent tax policy research at the 8th International Tax Conference.
- Federal Reserve hikes key rate to tackle ‘too high’ inflation, defying Trump demands for cutEconomy · The US Federal Reserve raised its benchmark interest rate for the first time since 2023 to combat persistent inflation, defying President Trump's demand for cuts.
- War on Iran cost U.S. more than $38 billion: Congressional Budget OfficeInternational Relations · CBO estimates U.S. war against Iran cost over $38 billion through August 1, with ongoing monthly costs up to $3 billion.
- Telangana CM urges Supreme Court to quash 2015 cash-for-vote FIRPolity · Telangana CM Revanth Reddy seeks quashing of 2015 cash-for-vote FIR in Supreme Court, citing pre-2018 PC Act did not criminalize bribe-giving.
- What India’s growth really meansEconomy · India's real GDP grew 7.8% in April-June 2026, exceeding RBI's 7% forecast despite global headwinds.
- August retail inflation raises chances of RBI rate hike in October, say economistsEconomy · August 2026 CPI inflation hit a 20-month high of 4.8%, raising expectations of an RBI rate hike in October.
- FCNR(B) deposits saved India from a BoP deficit in July 2026Economy · Surge in FCNR(B) NRI deposits in July 2026 prevented a balance of payments deficit, highlighting reliance on one-time inflows.
- AI cooperation: On Artificial Intelligence at a crossroadsScience and Technology · BRICS Summit proposed an AI open source community to counter US dominance, while PM Modi warned against weaponisation of technology.