India’s Fiscal Deficit Rises 12-Fold in April-May FY27 Despite RBI Dividend

In April-May FY2026-27, India’s fiscal deficit widened sharply to the ₹1.62 lakh crore and it showcases the weaker revenue collections despite receiving the record surplus transfer from the Reserve Bank of India (RBI). According to the data released by the Controller General of Accounts (CGA), the fiscal deficit has already reached to 9.6% of the full year r Budget Estimate (BE) of ₹16.96 lakh crore.

Fiscal Deficit Surge in April-May FY27

The centre’s fiscal deficit stood at around ₹1.62 lakh crore during the April-May and it compared with the just 0.8% of the annual target in the same period of the last year. The sharp increase was mainly driven by the softer revenue collections and the government expenditure continued at a robust pace.

Despite the higher deficit in the first two months, fiscal performance is generally influenced by the seasonal revenue and expenditure patterns in the financial year.

Revenue Collections Decline

Government revenues have also weakened during April-May.

Key highlights includes the,

  • Revenue receipts declined to the ₹6.99 lakh crore and compared with the ₹7.08 lakh crore a year earlier.
  • Total receipts also fell by around 2% to ₹7.19 lakh crore.
  • Both the tax revenue and non-tax revenue has recorded a marginal year-on-year decline.

One of the major contributors to the lower tax collections was the decline in excise duty revenue.

Fall in Excise Duty Collections

Excise duty collections has been also dropped by nearly 20% to ₹2.12 lakh crore during the Fy27 April-May.

This decline also followed the government’s decision in the March 2026 to reduce the special additional excise duty on petrol and diesel by ₹10 per litre, and providing the relief to consumers but it lowers the tax revenue.

This reduction has significantly impacted the indirect tax collections during the initial months of FY27.

Government Maintains Strong Capital Spending

Despite the weaker revenues, the government has continued to investing heavily in infrastructure and asset creation.

Key expenditure figures includes the,

  • Capital expenditure increased by over 13% to the ₹2.51 lakh crore.
  • Nearly 21% of the FY27 capital expenditure target of ₹12.22 lakh crore was also achieved within the first two months.
  • Revenue expenditure also rose by around 20% to ₹6.30 lakh crore.
  • Overall government expenditure increased 18% year-on-year to ₹8.81 lakh crore.

The continued focus on the capital spending showcases the government’s strategy of to supporting the long-term economic growth through infrastructure investment.

RBI Dividend Provides Temporary Relief

In the Month of May 2026, the government has recorded the fiscal surplus of nearly ₹2 lakh crore and it is largely due to the RBI’s record surplus transfer of ₹2.87 lakh crore.

The dividend from RBI boosted non-tax revenue to ₹3.27 lakh crore during the month and it also helped to offset part of the revenue shortfall.

This marks the third consecutive year that the Centre has reported the fiscal surplus in May after a substantial RBI dividend.

Ravi Agrawal Reappointed as CBDT Chairman: Centre Extends Tenure Till December 2026

The central government of has reappointed Ravi Agrawal as the Chairman of the Central Board of Direct Taxes (CBDT). His tenure was extended for another six months and will be effective from 1st of July, 2026. This decision was approved by the Appointments Committee of the Cabinet (ACC) and it extends the tenure till December 31, 2026 or until any further orders.

Key Takeaways

  • Ravi Agrawal has been reappointed as the CBDT Chairman for another six months period.
  • His new tenure is effective from July 1st to December 31st, 2026.
  • He is a 1988-batch Indian Revenue Service (IRS) officer.
  • The extension was approved by the Appointments Committee of the Cabinet (ACC).

Why Was Ravi Agrawal Reappointed?

The government has approved the Ravi Agrawal’s reappointment on the contractual basis after his scheduled retirement on June 30th 2026.

This extension has been granted by relaxing the existing recruitment rules applicable to the senior government appointments.

Ravi Agrawal was first appointed as the CBDT Chairman in June 2024 for one year. His tenure was later extended until June 2026 and the latest decision allows him to continue to leading India’s direct tax administration for another six months period.

Key Facts

  • Appointment: Reappointed as CBDT Chairman
  • Effective Date: July 1, 2026
  • Tenure: Six months (till December 31, 2026)
  • Service: Indian Revenue Service (1988 Batch)
  • Approved By: Appointments Committee of the Cabinet
  • Ministry: Ministry of Finance
  • Department: Department of Revenue

What is the Central Board of Direct Taxes (CBDT)?

The Central Board of Direct Taxes (CBDT) is the apex policy making body for direct taxes in the India. It functions under the Department of Revenue, Ministry of Finance and it administers the powers from the Income-tax Act, 1961.

The CBDT is responsible for the formulating direct tax policies, improving tax administration, ensuring effective tax collection, combating tax evasion and also implementing the reforms that enhances the transparency and taxpayer services.

It also issues the important circulars and guidelines related to income tax administration across the country.

India’s Unemployment Rate Falls to 8-Year Low in 2025

In the year 2025, India’s unemployment rate fell to 3.1% and it is the lowest level recorded in the last eight years. This numbers are as per the latest data released by the National Statistics Office (NSO) and it showcases the significant progress made towards the India’s commitment under the Sustainable Development Goals (SDGs). As India, aims to achieve the full and productive employment by the year 2030.

India’s Unemployment Rate Reaches an Eight-Year Low

NSO data showcases that the India’s overall unemployment rate has steadily declined since the year 2017-18 and it has reached to 3.1% in 2025.

The fall in unemployment reflects the improvements in the employment generation, economic recovery, and increased labour market participation across the different sectors.

It also aligns with the India’s broader objective of to creating the sustainable employment opportunities and also promoting inclusive economic growth.

Despite the positive numbers in the UR, employment outcomes still varies significantly across the different states and the demographic groups.

Urban Female Unemployment Remains a Concern

One of the important findings of the NSO data is the uneven progress in women’s employment and particularly in the urban areas.

As the national urban female unemployment rate declined from 10.8% in 2017-18 to 6.4% in 2025 and several states have experienced the sharp rise in the female joblessness.

States With Higher Urban Female Unemployment

  • Arunachal Pradesh: 18.4%
  • Himachal Pradesh: 18.3%
  • Bihar: 16.8%
  • Nagaland: 15.7%
  • Rajasthan: 14.6%

These figures indicates that urban women continue to faces the greater employment challenges despite the improvements in the overall labour market.

Bihar Registers the Sharpest Increase

Among the major states, Bihar has recorded one of the most significant increases in the urban female unemployment.

The state’ urban female unemployment rate rose from 6.2% in 2017-18 to 16.8% in the last year. Although,

Among major states, Bihar has recorded one of the most significant increases in the urban female unemployment. Bihar’s overall unemployment rate is nearly half during the the same period.

Similarly,

  • Rajasthan has also witnessed the urban female unemployment rise from 9.9% to 14.6%.
  • Himachal Pradesh recorded an increase from 13.7% to 18.3%.
  • Jharkhand remained as the almost unchanged at around 11.8%.
  • Assam has reported only marginal improvement and it declined from 11.4% to 10.4%.

States With Strong Improvement

There are several states, achieved remarkable progress in reducing urban female unemployment.

States Showing Strong Improvement

Several states, however, achieved remarkable progress in reducing urban female unemployment.

Top Performing State

  • In the state of Kerala, it reduced from 27.5% to 6.7%.
  • Maharashtra also improved significantly and took the numbers down from 11.5% to 3.8%.
  • Gujarat has also cut the rate from 4.3% to 1.5%
  • The state of Odisha and Karnataka have made significant progress.

The State of Gujarat’s performance is particularly notable as the its urban female unemployment rate is now almost at par with the state’s urban male unemployment rate.

Ministry of Tourism Signs MoU with Google India to Strengthen Digital Promotion of Indian Tourism

The Ministry of Tourism has signed the Memorandum of Understanding (MoU) with Google India Pvt. Ltd. to enhance the digital visibility of the India’s tourism destinations. The agreement was signed in the New Delhi in the presence of Union Tourism and Culture Minister Gajendra Singh Shekhawat and it aims to leverage the digital technologies, artificial intelligence (AI), data-driven insights and capacity building to attract more domestic and international travelers.

About Ministry of Tourism-Google India MoU?

The MoU establishes the collaborative framework between the Ministry of Tourism and Google India to promote the India’s cultural, historical, spiritual, and natural attractions through the advanced digital solutions.

This partnership focuses on using the Google’s digital ecosystem to improve the online discoverability of the Indian tourism destinations and also enhancing visitor engagement through innovative technologies.

Importantly, the agreement is the non-commercial, non-binding and non-exclusive without any financial implications for the either party

Key Objectives of the Partnership

This collaboration aims to strengthen the India’s tourism promotion via the multiple strategic initiatives.

Its primary objectives includes the,

  • Enhancing the digital promotion of tourism destinations.
  • Leveraging Artificial Intelligence (AI) for visitor engagement.
  • Using data-driven insights to improve the tourism campaigns.
  • Sharing global travel trends and traveler behavior analytics.
  • Strengthening digital marketing capabilities.
  • Building capacity among Ministry officials.
  • Also promoting the Incredible India campaign through the innovative digital platforms.

These efforts are also expected to improve the India’s visibility among global travelers and create more personalized tourism experiences.

AI and Digital Technologies to Transform Tourism

Speaking at the event, Union Minister Gajendra Singh Shekhawat has emphasized that the transformative role of the digital technologies in tourism.

He also noted that immersive digital experiences can showcases the glory and grandeur of India’s cultural and heritage sites to audiences worldwide.

Technologies such as the Artificial Intelligence, virtual experiences, digital storytelling and advanced online marketing can helps the travelers to discover, explore, and engage with the India’s diverse tourism offerings even before they visit.

Strengthening of Incredible India Initiative

This MoU also complements with the government of India’s flagship Incredible India campaign by integrating the cutting-edge digital tools into the areas of tourism promotion.

With the enhanced online visibility, related content, and AI-powered engagement, India aims to position itself as the modern, accessible, and globally preferred travel destination for the travelers.

This collaboration also supports the broader national goals of the digital transformation, cultural promotion and the sustainable tourism development.

GST Collections June 2026 Rise 13.9% to ₹1.95 Lakh Crore, Led by Import Revenue

The gross Goods and Services Tax (GST) collection for the month of June was up by 13.9 per cent year-on-year at ₹1,94,812 crore from ₹1,71,105 crore in June last year. This comes after Gross GST collections for May stood at ₹1.94 lakh crore, up 3.2% year-on-year.

GST Collections Experienced Strong Growth in June 2026

As the collection of GST is around ₹1,94,812 crore for the month of June 2026 and it compared to ₹1,71,105 crore in the same month last year.

After adjusting the refunds, total net GST collections stood at ₹1,62,377 crore and showcased the annual growth of 11.2%.

The latest figures indicates the steady revenue generation despite the global economic uncertainties.

Strong tax collections also showcases the improved compliance and the effectiveness of the digital tax administration under the GST framework.

Key Facts

  • Gross GST Collection: ₹1,94,812 crore
  • Growth (YoY): 13.9%
  • Net GST Collection: ₹1,62,377 crore
  • Import GST Growth: 34.6%
  • Domestic GST Growth: 6.5%
  • Total Refunds: ₹32,436 crore
  • Data Released By: Ministry of Finance

Import Revenue Emerges

One of the important feature last month GST data was the significant difference between the domestic and import-related tax collections.

GST collected from the domestic transactions increased by 6.5% to ₹1,34,774 crore. However, GST revenue from the imports sides surged to 34.6% and it reached to ₹60,038 crore and making  it as the primary contributor to the overall increase in the tax collections.

The government has also processed ₹32,436 crore in the GST refunds during the month and it marked the 29.1% rise over the previous year.

State-wise Performance

Maharashtra continued to lead all the states with GST collections of ₹30,714 crore and it is followed by the Karnataka and Gujarat as both states have registered the double-digit growth.

Among the large states, Uttar Pradesh recorded an impressive 19% increase in the GST collections and it highlights expanding economic activity.

On the other hand, Sikkim, Puducherry, Himachal Pradesh, Uttarakhand, and Tamil Nadu has also reported the declines in GST collections during June.

VB-G RAM G Act 2025 Comes into Force from July 1

The Viksit Bharat – Guarantee for Rozgar and Ajeevika Mission (Gramin) (VB-G RAM G) Act, 2025 will comes into force in India from 1st of July, 2026. This act introduced the strengthened framework for the rural employment and livelihood security. The landmark legislation increases the statutory wage employment guarantee from 100 days to 125 days for every eligible rural household and placing greater emphasis on the durable asset creation, sustainable development and transparent governance. Ahead of the nation wide rollout, Respectable Union Minister Shivraj Singh Chouhan has affirmed that no eligible rural worker should remain without the employment even for a single day.

What Is the VB-G RAM G Act?

The VB-G RAM G Act, 2025 is the new rural employment framework which is aimed at to enhancing the livelihood security, creating productive community assets and strengthening village economies.

It replaces the earlier structure with the expanded employment opportunities and improved implementation mechanisms.

This act forms the part of the Government’s broader vision of Viksit Bharat @2047 and it focusing on to the nclusive rural development through the sustainable employment, technology-driven governance, and community participation.

Key Features of the VB-G RAM G Act

The new legislation introduces the several major reforms such as,

  • Guaranteed wage employment increased from 100 days to 125 days for every eligible rural household.
  • Greater focus on durable community asset creation.
  • Priority to the water conservation, natural resource management, agriculture and allied activities.
  • Strengthening of the rural infrastructure and village development.
  • Enhanced participation of the Self Help Groups (SHGs) to promote women’s empowerment.
  • Technology-enabled implementation for greater transparency and accountability.
  • Increased convergence with other flagship rural development program.
  • These measures also aims to generate the sustainable livelihoods while improving the quality of life in the rural areas.

₹95,692 Crore Allocated for Nationwide Rollout

To ensure the smooth implementation from the first day, the Central Government has made an interim allocation of around ₹95,692.31 crore to States and Union Territories.

The allocation will support the,

  • Timely payment of the wages.
  • Uninterrupted execution of ongoing works.
  • Seamless transition to the new employment framework.
  • Efficient implementation by State governments.

According to the Ministry of Rural Development, all administrative, financial, and technical preparations have been completed for the nationwide rollout.

Smooth Transition for the Existing Beneficiaries

The Government has also assured that the beneficiaries will not face any disruption during the transition.

Key transition measures includes the,

  • Ongoing works will continue without any interruption.
  • Existing e-KYC verified job cards will remain valid until the new Gramin Rozgar Guarantee Cards are issued.
  • Wage payments will continue without delay.
  • Employment opportunities will also remain the uninterrupted during the rollout phase.

These arrangements are intended to ensure the continuity of benefits for rural households.

National Launch Scheduled in Andhra Pradesh

The official national launch of the VB-G RAM G Mission will take place on 2nd July 2026 at Mukkavaripalli Village, Obulavaripalle Mandal, Tirupati district in the state of Andhra Pradesh.

The event will be led by the Union Minister Shivraj Singh Chouhan and it is attended by the Andhra Pradesh Chief Minister N. Chandrababu Naidu, Deputy Chief Minister Pawan Kalyan, Union Ministers of State, and other dignitaries.

During the programme, the government will,

  • Launch the VB-G RAM G Mission.
  • Distribute the Gramin Rozgar Guarantee Cards.
  • Will screen an awareness film.
  • Release the Compendium of Op-Ed Articles on the Mission.

2026 FIFA World Cup Top Scorers: Latest Golden Boot Standings

The 2026 FIFA World Cup have already enter into the Round of 32 knockout part of the competition, the race for the Golden Boot is heating up. Players like Lionel Messi and Kylian Mbappe currently shares the top spot and many other players are also in the contention to grab the no.1 spot. For the race of the Golden Boot, the award given to the World Cup’s top goal scorer. Assists are used as a tiebreaker if two or more players have the same goal total.

2026 FIFA World Cup Top Scorers

Rank Player Country Goals
1 Lionel Messi Argentina 6
1 Kylian Mbappé France 6
3 Erling Haaland Norway 5
4 Ousmane Dembélé France 4
4 Vinícius Júnior Brazil 4
6 Johan Manzambi Switzerland 3
6 Deniz Undav Germany 3
6 Brian Brobbey Netherlands 3
6 Matheus Cunha Brazil 3
6 Ismaïla Sarr Senegal 3

Here is the latest standing after the Match of Norway vs Cote d’Ivore

Close Fight Between Messi and Mbappe

Lionel Messi and Kylian Mbappé have emerged as the standout performers of the tournament as each of them have scored six goals this edition.

Kylian Mbappe has also added another brace in the Round of 32 against the Sweden after his first two braces against Senegal and Iraq. He’s now leading the Golden Boot race due to his two assists.

Lionel Messi also added to his tally late in group match with a free kick from outside the box. It was his sixth of the tournament after a hat trick in the Argentina’s opening match against Algeria and then a brace against Austria. He’ll have the chance to add more in tally as Argentina will face Cape Verde in next round.

Halland Following Closely

As the Norway participating in the world cup after the year 1998, Erling Halland has been emerged as the Norway’s top goal scorer in this tournament.

His latest match winning goal against the Cote D’Ivore and with this took his tally to 5 and closely following the Messi and Mbappé

Vinicius and Dembele Also In Race

In this edition, France and Brazil continues to dominate the scoring charts with the multiple players are in tournament’s top scorers list.

Ousmane Dembele scored the four goals and Vinícius Júnior from Brazil has also scored the four goals.

Brazil’s another strike Matheus Cunha has also contributed to three goals for his team.

Rising Stars in The List

There are several players have who have impressed with the three goals each.

These includes the,

Johan Manzambi (Switzerland)
Deniz Undav (Germany)
Brian Brobbey (Netherlands)
Matheus Cunha (Brazil)
Ismaïla Sarr (Senegal)

What Is the FIFA World Cup Golden Boot?

The Golden Boot is awarded to the player who scores the most goals during the FIFA World Cup edition.

If two or more players finish with the same number of the goals, the ranking is decided by using the,

  • Most assists.
  • Fewest minutes played.
  • Other FIFA tie-breaking criteria, if required.

Winning the Golden Boot is considered as one of the football’s highest individual honors.

Which River Is Called the ‘Ganga of Italy’?

As the Ganga River is often regarded as the lifeline of India because it holds the valuable importance to agriculture, culture and civilization. Interestingly, Italy has a river that is often compared to the Ganga for playing the similar kind of role in the country’s economy and daily life. The river name is Po River and it is the Italy’s longest river and it is popularly known as the “Ganga of Italy.” It is flowing across northern Italy and supports the millions of people, irrigates fertile farmlands, powers industries and shaped the country’s history for centuries.

Which River Is Called the Ganga of Italy?

The Po River is widely known as the “Ganga of Italy.”

It is approximately 652 kilometres (405 miles) in length and it is the longest river entirely within Italy. It flows through the country’s most productive agricultural and industrial region and making it as one of the Europe’s most important rivers.

Because of the its economic, historical, and cultural significance, the Po River is often compared to the India’s river of Ganga.

Origin and Course of the Po River

The Po River originates in the Cottian Alps near to the Monte Viso and it is close to the border between Italy and France.

It begins as a small mountain stream which is fed by snowmelt and it gradually grows into a mighty river as it flows eastward across the northern Italy.

Eventually, it empties into the Adriatic Sea and forms the vast and ecologically rich river delta south of Venice.

Quick Facts

  • River: Po River
  • Length: Approximately 652 km
  • Source of river: Monte Viso, Cottian Alps
  • Mouth: Adriatic Sea
  • Country: Italy

Why Is the Po River So Important?

The Po River is often described as the lifeline of the northern Italy because it supports the nearly every aspect of the region’s economy.

Supports Millions of People

The Po River basin is home to approximately 16 to 17 million people which is nearly one-third of the Italy’s population.

Many of Italy’s major cities developed along the its banks because of the availability of water, fertile land and transportation routes.

Powers Italian Agriculture

The fertile Po Valley (Pianura Padana) is the Italy’s largest agricultural region.

The river provides irrigation for the,

  • Rice
  • Wheat
  • Maize (Corn)
  • Vegetables
  • Fruits

Around 70% of the river’s water is used for the agriculture and making it as indispensable for Italian food production.

Industry’s Engine

Northern Italy is also one of the Europe’s leading industrial regions.

Cities such as the Turin, Piacenza, Cremona, and Ferrara rely on the Po River for the industrial activities, transportation, and water supply.

Why Is the Po River Called the Ganga of Italy?

The comparison between the Po River and the Ganga is based on their similar importance rather than just the religious significance.

1. Longest River in the Country

Just as the Ganga is India’s most significant river system, so river Po is the longest river flowing entirely within the Italy.

2. Agricultural Lifeline

The Ganga basin supports the millions of farmers across northern India.

Similarly, the Po Valley produces the substantial share of Italy’s agricultural output and makes the river vital for food security.

3. Historical and Cultural Importance

For many centuries, the Po River has featured prominently in the Italian history, literature and regional identity.

Ancient Roman writers and historians regarded it as one of the Italy’s greatest rivers, much like the reverence associated with the Ganga in India.

Po River vs Ganga River

Feature Po River (Italy) Ganga River (India)
Length Approximately 652 km Approximately 2,525 km (within India)
Source Monte Viso, Cottian Alps Gangotri Glacier, Himalayas
Mouth Adriatic Sea Bay of Bengal
Importance Italy’s agricultural and industrial lifeline India’s cultural, agricultural, and economic lifeline
Main Crops Rice, wheat, maize Rice, wheat, sugarcane
Major Cities Turin, Piacenza, Cremona, Ferrara Haridwar, Varanasi, Patna, Kolkata

Major Tributaries of the Po River

The Po River is fed by around more than 140 tributaries and making it as the Italy’s largest river basin.

Some of its important tributaries includes the river like,

  • Dora Baltea
  • Ticino
  • Adda
  • Oglio
  • Mincio
  • Tanaro

These tributaries contributes to the river’s extensive irrigation network and water resources.

What Is the Capital of Chile? Know Its History, Population, Currency and Major Attractions

One of the South America’s most unique countries Chile which stretches for more than 4,300 kilometres (2,700 miles) along the side of western edge of the continent between the Andes Mountains and the Pacific Ocean. Chile is known for the its dramatic landscapes, deserts, glaciers, volcanoes, and coastline and it is also home to one of the America’s most modern and vibrant capitals called Santiago.

What Is the Capital of Chile?

The capital of Chile is the Santiago and it is officially known as Santiago de Chile.

It is located in the country’s Central Valley on the banks of the Mapocho River and Santiago is Chile’s largest city and serves as the its political, economic, financial, and cultural centre.

City is surrounded by the snow-capped Andes Mountains and it is famous for the its modern skyline, historic architecture, world-class museums and growing business districts.

Where Is Santiago Located?

Santiago lies in the central Chile and it is approximately midway between the country’s northern deserts and southern glaciers.

The city is strategically situated in the fertile Central Valley and making it an ideal location for the trade, agriculture, and transportation.

Also its geographical setting offers the breathtaking views of the Andes while providing easy access to the Chile’s Pacific coastline.

Quick Facts

  • Country: Chile
  • Region: Santiago Metropolitan Region
  • River: Mapocho River
  • Geographical Setting of Santiago: Central Valley, surrounded by the Andes Mountains

Why Is Santiago the Capital of Chile?

Santiago has been Chile’s capital since the Spanish colonial period because of the its central location and strategic importance.

It was founded in the year 1541 by Spanish conquistador Pedro de Valdivia and this city gradually developed into the country’s administrative and commercial hub.

Today, Santiago houses the,

  • The President’s official offices
  • National government ministries
  • Parliament-related institutions
  • Major financial institutions
  • Leading universities
  • International businesses

Also the economic strength and political significance continue to make the Santiago as the heart of Chile.

History of Santiago

Santiago was established on 12th of February, 1541, by a Spanish explorer Pedro de Valdivia.

During  the period of Spanish rule, it became the administrative centre of the colonial Chile. After Chile gained the independence in the early 19th century, Santiago remained as the national capital and it expanded rapidly through industrialization and urban development.

Today, this city successfully blends centuries-old colonial heritage with the modern skyscrapers and making it as South America’s one of the most dynamic metropolitan areas.

Why Is Santiago Famous?

Santiago is recognised as Latin America’s one of the leading cultural and economic centres.

The city offers a unique combination of the,

  • Modern high-rise buildings
  • Historic colonial architecture
  • Snow-covered mountain views
  • World-class museums
  • Art galleries
  • Parks and public spaces
  • Excellent food and wine culture

Its picturesque location between the Andes Mountains and the Pacific Ocean also makes it a the ideal base for skiing, hiking, and coastal tourism.

Famous Places to Visit in Santiago

San Francisco Church

It was built in the year 1554, the San Francisco Church (Iglesia de San Francisco) is the oldest surviving building in the Santiago and it is one of Chile’s most important historical monuments.

Metropolitan Cathedral

The Metropolitan Cathedral of the Santiago serves as the principal Roman Catholic cathedral in the Chile and it is one of the city’s most iconic landmarks.

La Moneda Palace

It was originally constructed as a mint, La Moneda Palace now functions as the official workplace of the President of Chile and it also houses several government ministries.

Cousiño Palace

This place was once home to the influential Cousiño Goyenechea family and this elegant mansion reflects the Chile’s mining wealth and aristocratic heritage.

Gran Torre Costanera

t was completed in 2014, the Gran Torre Costanera stands around 300 metres (984 feet) tall, making it the tallest building in the Chile and it is also one of the tallest skyscrapers in Latin America.

What Is the Currency of Chile?

The official currency of Chile is the Chilean Peso (CLP).

It is represented by the symbol $ or CLP and it is issued and regulated by the Central Bank of Chile and its headquarter location in Santiago.

The Chilean Peso is used throughout the country for the all financial and commercial transactions.

Population of Santiago

Santiago holds the most populous city in the Chile.

The metropolitan area has an estimated population of around 7 to 7.4 million people and it accounting for nearly 40% of Chile’s total population.

Population Overview

Greater Santiago have around 6.7-7 million residents and Santiago Centro (Central Commune) holds around 4.4 lakh residents.

The city’s large population reflects the its role as the Chile’s economic, educational, and employment centre.

Economy of Santiago

Santiago contributes the significant amount of share in the Chile’s Gross Domestic Product (GDP).

Major industries includes the,

  • Banking and finance
  • Mining headquarters
  • Information technology
  • Manufacturing
  • Retail
  • Tourism
  • Education

Many multinational corporations have also holds their regional headquarters in Santiago and making it as one of the South America’s most important financial hubs.

Interesting Facts About Santiago

  • Santiago was founded in year 1541 and it is one of the South America’s oldest cities.
  • It is surrounded by the Andes Mountains.
  • Nearly 40% of the Chile’s population lives in the Santiago metropolitan region.
  • The city is home to Gran Torre Costanera which is one of the Latin America’s tallest skyscrapers.
  • Santiago combines the colonial-era architecture with one of the continent’s most modern urban skylines.

GST Day 2026: 9 Years of India’s Landmark Tax Reform Explained

As the Goods and Services Tax (GST) completes nine years after its launch on 1st of July in the year 2017. GST has also transformed the India’s indirect tax system by replacing the multiple central and state taxes with the unified framework. It introduced under the vision of the “One Nation, One Tax,” and GST has simplified taxation and it has strengthened the cooperative federalism and it also improved the tax compliance through digital governance. In the year 2025, GST 2.0 brings the major reforms aimed at to simplifying tax rates, reducing the compliance burdens and supporting the consumers, MSMEs, exporters, and farmers.

What Is GST and Why Was It Introduced?

GST is a destination-based indirect tax which is levied on the supply of the goods and services. Before the its implementation, businesses had to deal with the multiple taxes imposed by the Centre and States and it often resulting in cascading taxation or “tax on tax.”

GST has also replaced the 17 indirect taxes and 13 cesses and created a common national market with the uniform tax procedures across India.

This reform has significantly improved the transparency, reduced logistical barriers and it has strengthened the ease of doing business.

Key Features of the GST Framework

GST introduced the several structural changes which continue to shape India’s tax administration,

  • Tax is levied on the supply of goods and services.
  • Operates as the destination-based consumption tax.
  • It follows the Dual GST Model comprising CGST, SGST, and IGST.
  • And it is guided by the GST Council, which ensures coordination between Centre-State.
  • Supported by the Goods and Services Tax Network (GSTN) and it providing the fully digital tax ecosystem.

These features have also helped to establish the transparent and technology-driven indirect tax system.

GST 2.0 and Next Generation Reforms

During the 56th GST Council Meeting, the GST 2.0 reforms were approved and already effective from 22nd September 2025 and it also introduced the several taxpayer-friendly measures.

Major reforms includes the,

  • Simplified tax structure with the 5% and 18% as the primary GST slabs.
  • 40% GST on luxury and sin goods such as tobacco, online gaming, luxury cars, yachts, and private aircraft.
  • Faster registration and refund processes.
  • Easier return filing and it also lowers the compliance costs and particularly for MSMEs and startups.

How GST Has Benefited Consumers and Businesses

GST has delivered the wide-ranging benefits across sectors.

Benefits for Consumers

  • Lower prices on the several goods and services.
  • GST exemptions on important things like insurance and essential medicines.
  • Also increased the affordability and improved household savings.
  • Better access to the healthcare through tax relief on critical products.

Benefits for the MSMEs and Industry

  • It reduced the GST rates on important industrial inputs and handicrafts.
  • It has simplified the tax compliance and fewer classification disputes.
  • Improved export competitiveness through the correction of inverted duty structures.
  • Lower compliance costs for the startups and small enterprises.

These measures have also strengthened the country’s manufacturing ecosystem while encouraging the formal economic activity.

Digital Transformation of Tax Administration

One of GST’s major achievements has been the digitization of the tax administration.

Technology-driven initiatives includes the,

  • GSTN online portal.
  • E-invoice system.
  • Pre-filled GST returns.
  • Automated Input Tax Credit (ITC) matching.
  • Real-time invoice validation.

These digital reforms have significantly reduced the manual intervention, improved transparency and also helped to detect tax evasion more efficiently.

GST by the Numbers

GST collections and taxpayer registrations have has also witnessed the remarkable growth since the year 2017.

Key highlights includes the,

  • Total registered GST taxpayers has been also increased from 66.5 lakh in 2017 to 1.65 crore by May 2026.
  • Gross GST collections rose from approximately ₹7.4 lakh crore in the cycle of 2017-18 to ₹22.27 lakh crore in the year 2025-26.
  • During the April-May 2026, GST collections has also reached nearly to the ₹4.37 lakh crore which showcases the strong economic activity and improved tax compliance.

These figures signals the expanding formal economy and growing tax base of the country.

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