Daily Current Affairs — 22 April 2026
Daily Current Affairs · 22 April 2026
10 fully-analysed topics · 30 bilingual MCQs · 3 embedded videos · built for UPSC Prelims & Mains
📚 10 Topics
🎯 30 MCQs
🎬 3 Videos
🇮🇳 Hindi + English
🎯 30 MCQs
🎬 3 Videos
🇮🇳 Hindi + English
Economy: 10
▶ Start Here — UPSC-Standard Quiz
UPSC Current Affairs MCQ — 22 April 2026
10 UPSC-standard bilingual MCQs covering today's top stories · 10-sec timer per question
Score yourself as you go. Get a feel for how UPSC-level questions are framed around the day's news.
📰 Today’s Top 5 Current Affairs
#01
Economy
Economy
Pradhan Mantri Gram Sadak Yojana-III (PMGSY-III)
📰 Why in News
Recently, the Union Cabinet approved the continuation as well as increased the budget of PMGSY -III beyond March 2025 till March 2028 to enhance rural connectivity.
✅ Quick Facts
- About: PMGSY is a central government scheme launched in 2000 to provide all-weather road connectivity to unconnected rural habitations
- Around 800,000 kilometres of rural roads have been built and 180,000 habitations were connected under various phases of the PMGSY scheme.
📊 Key Numbers & Data
- habitations. The scheme was originally a 100% centrally-sponsored initiative , but
- but starting from the financial year 2015-16, the funding has been shared between the
#02
Economy
Economy
Transformative Reforms for Viksit Bharat@2047
📰 Why in News
As India prepares to celebrate its 100th year of Independence in 2047
✅ Quick Facts
- C Cut the Compliance Burden: India faces 69,000+ compliances under 1,500+ laws
- Strengthen judiciary with more judges , faster trials to curb 'Tareek pe Tareek issue' and tech-enabled contract enforcement.
- Also, electoral funding transparency must be enhanced
- Goods and Services Tax (GST) has demonstrated the strength of CentreState cooperation
- Advance secure, resilient, and citizen-centric digital systems that bridge the divide and drive inclusive growth.
- L Labour & Land : Implement labour codes and streamline land acquisition to boost formal jobs and investment.
- I Inflation Targeting : Strengthen the Consumer Price Index (CPI) basket and improve repo rate transmission for better price stability.
- B Banks & Bankruptcy : Strengthen banking ecosystem for global competitiveness and speed up resolutions under Insolvency and Bankruptcy Code (IBC).
- E Ease of Doing Business : Swift implementation of Jan Vishwas Act, 2023 is needed to decriminalise more minor business offences.
- R Research and Development (R&D) : Raise R&D spending to 2% of GDP and integrate private players into innovation ecosystems.
📊 Key Numbers & Data
- the nation into a developed economy of USD 30 trillion , powered by transformative reforms
- elections, candidates spent an average of ₹57.23 lakh each, often from opaque sources
- Development (R&D) : Raise R&D spending to 2% of GDP and integrate private players into
- in Defence: Raise Defence Spending to 3% of GDP, scale up domestic production, and
- and climate-smart farming. India can reduce 612% post-harvest losses by investing in cold
- India can boost agricultural exports to USD 70 billion by focusing on value chains for
#03
Economy
Economy
Welfare vs Development
📰 Why in News
There is growing concern over the blurring of welfare and development in political discourse, where short-term welfare schemes are increasingly projected as long-term development achievements.
✅ Quick Facts
- This has triggered debates on welfare populism
- The Welfare vs Development debate highlights the tension between welfare (short-term relief) and development (long-term capacity building)
- A balanced approach is essential, where targeted welfare supports human capital and demand , while maintaining fiscal discipline and prioritizing…
- About: Welfare refers to the state's intervention to ensure a basic safety net for its vulnerable populations
- About: Development goes beyond mere economic growth
- 'Crowding Out' of Capex: Under the Fiscal Responsibility and Budget Management (FRBM) Act
- For instance, in some agricultural regions like Punjab and Uttar Pradesh, schemes such as Pradhan Mantri Garib Kalyan Anna Yojana have ensured basic…
- It shifts the political economy from a "productive state" to a "rent-seeking state," creating a permanent voter dependency rather than demographic…
- This means the current generation consumes the welfare, but the future generation pays the debt, robbing them of their developmental potential.
- Builds Human Capital: Welfare measures like nutrition
#04
Economy
Economy
Direct Benefit Transfer Scheme
📰 Why in News
Most economists advocate the conversion of all agricultural subsidies into direct income support i.e., Direct Benefit Transfer to farmers.
✅ Quick Facts
- Aim: It has been visioned as an aid for simpler/faster flow of information and funds to the beneficiaries and to reduce the fraud in the delivery…
- Implementation: It is a mission or an initiative by the government of India started on 1st January 2013 as a way to reform the government delivery…
- Expanded the Coverage of Services: In a mission-mode approach
- Instant and Easy Money Transfer: It created the Aadhaar Payment Bridge to enable instant money transfers from the government to people's bank accounts
- Lack of Accessibility: One of the most prominent issues faced by citizens attempting to enroll is the lack of accessibility/proximity to enrolment…
- Shortage of Facilities: Still there are many rural & tribal areas, which don't have banking facility and road connectivity
- Uncertainties : Delays in accepting and pushing the applications forward
- Disruption in the Process: In terms of receiving money in their bank accounts through DBT
- Systemising Innovation : Empowering innovation system are some of the aspects that would require continued focus
🏛️ Key Stakeholders
RBIReserve Bank
#05
Economy
Economy
Quality of Public Expenditure Index
📰 Why in News
The Reserve Bank of India (RBI) has developed the Quality of Public Expenditure (QPE) Index to assess how efficiently the Centre and state governments allocate public funds.
✅ Quick Facts
- About: QPE Index is a framework that assesses the efficiency of government spending
- Key Findings: The RBI's QPE Index has categorised India's public expenditure trajectory since 1991 into six distinct phases
- 19972003: Expenditure quality declined due to salary hikes ( Fifth Pay Commission ), rising interest payments, and revenue-heavy spending.
- 20032008: Fiscal Responsibility and Budget Management (FRBM) Act, 2003 enforced in 2004 , improved fiscal discipline
- Post-pandemic recovery , driven by higher capital expenditure , helped improve spending efficiency.
- In 2024-25, India's QPE is at its highest level since the 1991 economic liberalization, reflecting improved fiscal management and spending efficiency.
- About: Public expenditure (PE) refers to the spending by the government to fulfill collective needs such as education
- Objective: PE ensures efficient resource allocation
- Revenue Expenditure: Routine expenses like salaries, pensions, and interest payments.
- Capital Expenditure: Investments in long-term assets
📊 Key Numbers & Data
- helped improve spending efficiency. In 2024-25, India's QPE is at its highest level since
- PE Trends: According to the Economic Survey 2024-25 , government Capex increased 8.2% YoY
- YoY , while state revenue expenditure grew 12% Year-over-year (YoY) . The Union Budget
- 12% Year-over-year (YoY) . The Union Budget 2025-26 has allocated Rs 11.21 lakh crore for
- 11.21 lakh crore for capital expenditure (3.1% of GDP) in FY 2025-26 . Challenges
- for capital expenditure (3.1% of GDP) in FY 2025-26 . Challenges: Excessive spending on
🏛️ Key Stakeholders
RBIFinance CommissionReserve Bank
🎯 UPSC Relevance
Discuss the significance of the Quality of Public Expenditure Index in assessing fiscal efficiency.
📚 📜 Core Subject Drill — Indian History
📜 Indian History MCQ Quiz · भारतीय इतिहास
10 bilingual MCQs · Indian History · Members Only on YouTube
Today's rotation: Indian History. Take this break between news topics to sharpen the core concept.
📖 More Current Affairs Coverage
#06
Economy
Economy
Reorienting India’s Private Capital Expenditure
📰 Why in News
Rising global tariffs and fluctuating external demand underscore the need to prioritize domestic markets for economic stability, thereby shifting the focus towards Indian private sector capital expenditure (Capex) .
✅ Quick Facts
- About: It refers to funds spent on acquiring, upgrading, or maintaining physical assets like property, equipment, or technology
- The Indian government allocates capex through its annual budget, presented by the Finance Minister.
- Capex Expenditure of Rs 11.21 lakh crore (3.1% of GDP) earmarked in FY2025-26.
- As a countercyclical fiscal tool, Capex stabilizes the economy and supports long-term revenue generation through asset creation.
- It also helps reduce liabilities via loan repayments and catalyses private investment, making it crucial for sustained economic development.
- Pre-liberalisation : Businesses thrived under inward-looking policies and protected domestic markets , earning supernormal profits .
- Post-liberalisation (1990s) : Accumulated wealth enabled Indian firms to expand globally
- Present context : External demand shocks , driven by rising tariff barriers , are prompting closer government-business collaboration to sustain…
- Overall Growth in Capex: Private sector capital expenditure (capex) increased by 66.3% between FY 2021-22 and FY 2024-25
- Nature of Investments: In FY25 , around 49.6% of enterprises invested for income generation , 30.1% for upgradation , and 2.8% for diversification .
📊 Key Numbers & Data
- Capex Expenditure of Rs 11.21 lakh crore (3.1% of GDP) earmarked in FY2025-26.
- capital expenditure (capex) increased by 66.3% between FY 2021-22 and FY 2024-25 , but is
- capex) increased by 66.3% between FY 2021-22 and FY 2024-25 , but is expected to decline
- FY 2024-25 , but is expected to decline by 25.5% in FY 2025-26 . Nature of Investments: In
- . Nature of Investments: In FY25 , around 49.6% of enterprises invested for income
- invested for income generation , 30.1% for upgradation , and 2.8% for
#07
Economy
Economy
Pradhan Mantri Jan Dhan Yojana
📰 Why in News
The Finance Ministry stated that nearly one-fourth of PM Jan Dhan Yojana (PMJDY) accounts are inoperative , raising concerns about financial inclusion and account usage.
✅ Quick Facts
- Scale of Inoperative Accounts: Out of 56.04 crore PMJDY accounts , 13.04 crore (23%) are inoperative
- Account holders receive a RuPay debit card with Rs 2 lakh accident insurance cover and are eligible for an overdraft facility of up to Rs 10,000 to…
- The scheme also serves as a key platform for Direct Benefit Transfers (DBT) and subsidies
- Leveraging PMJDY's financial inclusion base, access to Mudra loans has expanded, recording a CAGR of 9.8% between 2019 and 2024.
- The scheme has also boosted savings habits with an average deposit of Rs 4,352.
📊 Key Numbers & Data
- 56.04 crore PMJDY accounts , 13.04 crore (23%) are inoperative . Uttar Pradesh has the
- owning bank accounts rose from 53% (2015-16) to 79% (2019-21). Leveraging
- owning bank accounts rose from 53% (2015-16) to 79% (2019-21). Leveraging PMJDY's
- bank accounts rose from 53% (2015-16) to 79% (2019-21). Leveraging PMJDY's financial
- accounts rose from 53% (2015-16) to 79% (2019-21). Leveraging PMJDY's financial inclusion
- loans has expanded, recording a CAGR of 9.8% between 2019 and 2024. The scheme has also
🏛️ Key Stakeholders
RBIReserve Bank
#08
Economy
Economy
16th Finance Commission Report
📰 Why in News
The 16 th Finance Commission (16th FC) , chaired by Arvind Panagariya , has submitted its report for the award period 2026-31 .
✅ Quick Facts
- The 16th FC retains states' tax share at 41% and shifts fiscal transfers toward performance- and compliance-based criteria
- It emphasises fiscal discipline by capping state deficits at 3% of GSDP
- While strengthening efficiency and transparency
- Vertical Devolution: This is the percentage of the Central Government's Divisible Pool of taxes that is given to the States
- The divisible pool excludes cesses, surcharges , and cost of collection from gross central tax revenue.
- The 16 th FC has introduced a major shift toward rewarding economic performance.
- Distribution among states is based on a revised devolution formula with weights for income distance (42.5%)
- Per Capita GSDP Distance (Income Distance): Defined as the gap between a state's per capita GSDP and the average per capita GSDP of the top three…
- States with lower population growth during this period receive a higher share , rewarding effective population control.
- It rewards states contributing more to national economic output .
📊 Key Numbers & Data
- in Parliament alongside the Union Budget 2026-27, signal a significant shift from
- The 16th FC retains states' tax share at 41% and shifts fiscal transfers toward
- discipline by capping state deficits at 3% of GSDP , ending off-budget borrowings
- pool of central taxes was retained at 41% , unchanged from the 15 th Finance
- how many rupees each state gets from that 41% pot. The 16 th FC has introduced a major
- formula with weights for income distance (42.5%) , population as per the 2011 Census
🏛️ Key Stakeholders
CAGParliamentFinance Commission
#09
Economy
Economy
Viksit Bharat- Guarantee For Rozgar And Ajeevika Mission (Gramin) Bill, 2025
📰 Why in News
The Ministry of Rural Development introduced the Viksit Bharat- Guarantee For Rozgar And Ajeevika Mission (Gramin) (VB-G RAM G) Bill
✅ Quick Facts
- The proposed law marks a fundamental shift from a rights-based
- Rural poverty has declined sharply from 25.7% in 201112 to nearly 5% in 202324
- The VBG RAM G Bill, 2025 shifts from a universal, demand-driven right to work to a budget-capped, supply-driven model with planned asset creation.
- While aimed at fiscal predictability and livelihood integration
- Statutory Wage Employment Guarantee: Provides a legal guarantee of 125 days of wage employment per rural household per financial year to adult…
- Conditional and Non-Universal Coverage: Unlike MGNREGA's universal coverage
- Bottom-Up Planning through VGPPs: Mandates preparation of Viksit Gram Panchayat Plans (VGPPs) using spatial technology
- Centrally Sponsored Scheme (CSS) Structure: Significantly increases the financial burden on States by revising the cost-sharing pattern to 60:40 for…
- Flexibility during Agricultural Seasons: The Bill empowers States to pause the programme for up to 60 days in a financial year during peak sowing and…
- Unemployment Allowance Provision: Mandates payment of unemployment allowance by State Governments if employment is not provided within 15 days of…
📊 Key Numbers & Data
- . Rural poverty has declined sharply from 25.7% in 201112 to nearly 5% in 202324, reducing
- sharply from 25.7% in 201112 to nearly 5% in 202324, reducing the need for MGNREGA as
- to 60:40 for most States (from the earlier 10% share under MGNREGA), while retaining 90:10
- Labour Force Survey (PLFS 202223) , nearly 45% of rural workers remain self-employed in
#10
Economy
Economy
CAG Review of the FRBM Act
📰 Why in News
The Comptroller and Auditor General (CAG) presented its 2023-24 annual review of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003 , in Parliament.
✅ Quick Facts
- The review shows that India is moving steadily towards long-term macroeconomic stability.
- Central Government Debt: Declined to 57% of Gross Domestic Product (GDP) (March 2024) from 61.38% in FY 2020-21 .
- General Government Debt (GGD): GGD declined slightly from 83% of GDP in March 2022 to 81.3% in March 2023, still far above the 60% target.
- Debt Sustainability Analysis (DSA): DSA assesses the government's ability to service debt, with the debt-to-GDP ratio as the key measure
- The Centre's debt-to-GDP ratio peaked at 61.38% in FY 2020-21 and declined to 57% in FY 2023-24.
- About: The FRBM Act, 2003 was enacted to reduce fiscal deficits and promote long-term macroeconomic stability and inter-generational equity
- Fiscal Responsibility: The Act mandates that the Finance Minister review fiscal trends and present half-yearly reviews to both Houses of Parliament.
- Medium-Term Fiscal Policy (MTFP): The Act mandates the presentation of the MTFP statement
- Implementation : The CAG conducts annual reviews to assess the government's compliance with the FRBM targets.
- The Fiscal Deficit(FD) target is 3% of GDP by March 2021(target deferred due to pandemic)
📊 Key Numbers & Data
- and Auditor General (CAG) presented its 2023-24 annual review of the Fiscal Responsibility
- of the CAG Review of the FRBM Act for FY 2023-24? Central Government Debt: Declined to 57%
- Central Government Debt: Declined to 57% of Gross Domestic Product (GDP) (March
- Domestic Product (GDP) (March 2024) from 61.38% in FY 2020-21 . General Government Debt
- Product (GDP) (March 2024) from 61.38% in FY 2020-21 . General Government Debt (GGD): GGD
- Debt (GGD): GGD declined slightly from 83% of GDP in March 2022 to 81.3% in March
🏛️ Key Stakeholders
CAGParliament
🗞️ Wrap Up — Simple CA Quiz
Simple Current Affairs MCQ — 22 April 2026
10 accessible MCQs covering the same topics · great for quick revision
End your study session with these simpler MCQs to lock in recall of today's current affairs.
