Economy and Finance
Nine years of GST: taxpayers rise from 66.5 lakh to 1.65 crore
30 June 2026 | Press Information Bureau
A PIB feature of 30 June 2026 marks nine years of GST, launched on 1 July 2017 under the principle 'One Nation, One Tax'. It says the number of GST taxpayers has increased from 66.5 lakh in 2017 to 1.65 crore in May 2026.
It adds that the Next-Generation GST reforms of 2025 simplified the structure through lower rates, exemptions and easier processes.
Key facts- GST launched: 1 July 2017
- Taxpayers: 66.5 lakh (2017) to 1.65 crore (May 2026)
- Principle: One Nation, One Tax
- Next-Generation GST reforms: 2025
Exam takeaway: GST replaced fragmented central and state indirect taxes with an integrated framework.
Quick revision: Nine years of GST: 1.65 crore taxpayers in May 2026 (PIB, 30 June).
Press Information Bureau original sourceAppointments, Awards and Important Days
General Dhiraj Seth takes over as 31st Chief of the Army Staff
30 June 2026 | Press Information Bureau
PIB reported that General Dhiraj Seth took over as the 31st Chief of the Army Staff (COAS) on 30 June 2026 from General Upendra Dwivedi, who superannuated on 30 June 2026 after more than four decades of service.
General Seth is an alumnus of the National Defence Academy, Khadakwasla, and was commissioned into the Armoured Corps in December 1986. As a Lieutenant General he commanded the Sudarshan Chakra Corps.
Key facts- 31st Chief of the Army Staff: General Dhiraj Seth
- Predecessor: General Upendra Dwivedi (superannuated 30 June 2026)
- Commissioned: Armoured Corps, December 1986
- Alma mater: National Defence Academy, Khadakwasla
Exam takeaway: Appointments of service chiefs are regular static-GK questions.
Quick revision: Gen Dhiraj Seth became 31st Army Chief on 30 June 2026 (PIB).
Press Information Bureau original sourceReports, Indices, Science and Technology
RBI releases Financial Stability Report, June 2026
30 June 2026 | Reserve Bank of India
The RBI released the June 2026 edition of the Financial Stability Report (FSR) on 30 June 2026 (Press Release 2026-2027/572). The FSR reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on the resilience of the Indian financial system.
Highlights: global financial stability risks remain elevated, with vulnerabilities including elevated public debt, bond market fragilities, stretched asset valuations and leveraged NBFIs. India's macroeconomic fundamentals provide greater resilience, and the balance of risks has turned favourable on the interim peace deal and recent policy measures. Scheduled commercial banks remain safe and sound, macro stress tests show capital ratios staying comfortably above regulatory thresholds, NBFCs are financially sound, and the solvency ratio of life insurers remains above the minimum threshold.
Key facts- Report: Financial Stability Report, June 2026
- Prepared by: Sub-Committee of FSDC
- Banks: capital ratios above thresholds under stress tests
- Life insurers: solvency above the minimum
Exam takeaway: The FSR is released twice a year (June and December) by the RBI.
Quick revision: RBI FSR June 2026: banks, NBFCs resilient (RBI, 30 June).
Reserve Bank of India original source