⚡ Chapterss Quick Decode | Episode 02
1. The Core Development: NABARD Did Not Accept the Bids
NABARD had planned a re-issuance of bonds worth ₹7,000 crore. Re-issuance means issuing additional amount under an already existing bond/security, instead of creating a completely new bond.
However, NABARD withdrew the issue after investors demanded higher yields (the return earned by investors on the bond).
The base issue size was ₹2,000 crore, with a greenshoe option (over-allocation option) of ₹5,000 crore. Against this, bids worth around ₹3,030 crore were received.
The key point is simple: NABARD wanted to raise up to ₹7,000 crore, but the yield demanded by investors was not acceptable to the issuer.
2. Why Did Investors Demand Higher Yields?
In the bond market, yield reflects the return demanded by investors.
When the market environment becomes uncertain, investors usually demand higher yields. This is because they are locking their money for a fixed period, and they want better compensation for risks such as uncertainty about future market interest rates and RBI policy rates, liquidity volatility and broader market instability.
In simple terms, when risk increases, investors do not want ordinary returns. They demand a higher return for taking that risk. So, investors were not ready to buy the bonds at any price. They wanted better compensation for investing in them.
3. Why Would NABARD Withdraw the Issue?
A bond issuer does not have to accept bids if the demanded yield is too high. If NABARD had accepted very high yields, its borrowing cost would have increased. By withdrawing the issue, NABARD avoided raising funds at an unfavourable cost.
This shows an important debt market principle: bond issuance depends not only on investor demand, but also on whether the demanded yield is acceptable to the issuer.
4. The Bigger Trend: Preference for Shorter-Term Borrowings
The article also highlights that many issuers have recently preferred shorter-tenor borrowings in the 2–3 year segment.
This usually happens when the financial environment is uncertain. Issuers may avoid locking themselves into long-term borrowing at higher rates, while investors may also remain cautious about duration risk, because higher duration generally means higher risk, while shorter duration is considered relatively safer.
In simple terms, uncertainty makes both issuers and investors more selective.
Chapterss Takeaway:
Bond markets work on the balance between issuer cost and investor return. If investors demand higher yields and the issuer finds the cost unattractive, even a planned bond issuance can be withdrawn.
Question for you - In the same market environment, NaBFID successfully raised ₹4,000 crore through 10-year bonds at a cut-off yield of 7.74%, while NABARD withdrew its planned ₹7,000 crore bond re-issuance after receiving bids at higher yields. Why?
Team Chapterss
1. The Core Development: NABARD Did Not Accept the Bids
NABARD had planned a re-issuance of bonds worth ₹7,000 crore. Re-issuance means issuing additional amount under an already existing bond/security, instead of creating a completely new bond.
However, NABARD withdrew the issue after investors demanded higher yields (the return earned by investors on the bond).
The base issue size was ₹2,000 crore, with a greenshoe option (over-allocation option) of ₹5,000 crore. Against this, bids worth around ₹3,030 crore were received.
The key point is simple: NABARD wanted to raise up to ₹7,000 crore, but the yield demanded by investors was not acceptable to the issuer.
2. Why Did Investors Demand Higher Yields?
In the bond market, yield reflects the return demanded by investors.
When the market environment becomes uncertain, investors usually demand higher yields. This is because they are locking their money for a fixed period, and they want better compensation for risks such as uncertainty about future market interest rates and RBI policy rates, liquidity volatility and broader market instability.
In simple terms, when risk increases, investors do not want ordinary returns. They demand a higher return for taking that risk. So, investors were not ready to buy the bonds at any price. They wanted better compensation for investing in them.
3. Why Would NABARD Withdraw the Issue?
A bond issuer does not have to accept bids if the demanded yield is too high. If NABARD had accepted very high yields, its borrowing cost would have increased. By withdrawing the issue, NABARD avoided raising funds at an unfavourable cost.
This shows an important debt market principle: bond issuance depends not only on investor demand, but also on whether the demanded yield is acceptable to the issuer.
4. The Bigger Trend: Preference for Shorter-Term Borrowings
The article also highlights that many issuers have recently preferred shorter-tenor borrowings in the 2–3 year segment.
This usually happens when the financial environment is uncertain. Issuers may avoid locking themselves into long-term borrowing at higher rates, while investors may also remain cautious about duration risk, because higher duration generally means higher risk, while shorter duration is considered relatively safer.
In simple terms, uncertainty makes both issuers and investors more selective.
Chapterss Takeaway:
Bond markets work on the balance between issuer cost and investor return. If investors demand higher yields and the issuer finds the cost unattractive, even a planned bond issuance can be withdrawn.
Question for you - In the same market environment, NaBFID successfully raised ₹4,000 crore through 10-year bonds at a cut-off yield of 7.74%, while NABARD withdrew its planned ₹7,000 crore bond re-issuance after receiving bids at higher yields. Why?
Team Chapterss
Dear Future Officers,
Today at 4:00 PM, we will conduct the Current Affairs Weekly Revision Session covering 18th–25th March 2026.
As we all know, March 2026 is extremely important for the exam scheduled on 13th June 2026. So, make sure you revise the 3rd week of March 2026 properly and do not leave any gaps in your preparation.
Join the session on time and revise with full focus.
Link: https://youtube.com/live/gmcQpF4nQxU?feature=share
For those looking for PDFs for revision:
• May CA Chapter (₹51) | Link: Click Here
• April CA Chapter (₹51)| Link: Click Here
• Complete CA Package (₹100) | Link: Click Here
-- Team Chapterss
Today at 4:00 PM, we will conduct the Current Affairs Weekly Revision Session covering 18th–25th March 2026.
As we all know, March 2026 is extremely important for the exam scheduled on 13th June 2026. So, make sure you revise the 3rd week of March 2026 properly and do not leave any gaps in your preparation.
Join the session on time and revise with full focus.
Link: https://youtube.com/live/gmcQpF4nQxU?feature=share
For those looking for PDFs for revision:
• May CA Chapter (₹51) | Link: Click Here
• April CA Chapter (₹51)| Link: Click Here
• Complete CA Package (₹100) | Link: Click Here
-- Team Chapterss
👍1
Dear Future Officers,
ARD Class 7 is now live on YouTube.
Link - https://youtu.be/jrf5ub9vUdc
📚 Chapter 2: Farming System and Cropping System
Topics Covered:
✅ Concept of Natural Farming
✅ Pillars of Natural Farming
✅ Concept of Bio-intensive Agriculture
✅ Concepts of Agroecology farming
✅ Concept of Sustainable Agriculture
✅ Techniques of Bio-intensive Agriculture
✅ Concept of Permaculture
✅ Techniques and Pillars of Permaculture
✅ History of Sustainable Agriculture
Step by step, we will master ARD.
Our full course of ARD - https://www.chapterss.in/l/rm6bF8W
Start now and get better in ARD
Team Chapterss
ARD Class 7 is now live on YouTube.
Link - https://youtu.be/jrf5ub9vUdc
📚 Chapter 2: Farming System and Cropping System
Topics Covered:
✅ Concept of Natural Farming
✅ Pillars of Natural Farming
✅ Concept of Bio-intensive Agriculture
✅ Concepts of Agroecology farming
✅ Concept of Sustainable Agriculture
✅ Techniques of Bio-intensive Agriculture
✅ Concept of Permaculture
✅ Techniques and Pillars of Permaculture
✅ History of Sustainable Agriculture
Step by step, we will master ARD.
Our full course of ARD - https://www.chapterss.in/l/rm6bF8W
Start now and get better in ARD
Team Chapterss
Chapterss
Agriculture and Rural Development | NABARD Grade A
Complete ARD Preparation. Simple, Structured, Exam-Oriented.
Dear Students,
🚨 Descriptive writing cannot be improved in the last 10–15 days before the exam.
At Chapterss, we are providing chapter-wise descriptive tests for both ARD and Management, so that your writing practice starts from Day 1 itself.
We do not just give marks or overall comments. We evaluate your answer section-wise, Introduction, Body, Conclusion and exact reasons for marks deduction.
Please do not practise only in a Word document on your laptop.
Write on the Chapterss portal → Get detailed feedback → Understand your mistakes → Improve your next answer.
Content knowledge alone is not enough. Descriptive writing needs regular practice, structure, keywords, examples, and feedback.
So, start writing now, not after the syllabus is over.
📌 ARD Full Course: https://www.chapterss.in/l/rm6bF8W
📌 Management Full Course: https://www.chapterss.in/l/fjh0LmS
Sample Copy for ARD 👇
🚨 Descriptive writing cannot be improved in the last 10–15 days before the exam.
At Chapterss, we are providing chapter-wise descriptive tests for both ARD and Management, so that your writing practice starts from Day 1 itself.
We do not just give marks or overall comments. We evaluate your answer section-wise, Introduction, Body, Conclusion and exact reasons for marks deduction.
Please do not practise only in a Word document on your laptop.
Write on the Chapterss portal → Get detailed feedback → Understand your mistakes → Improve your next answer.
Content knowledge alone is not enough. Descriptive writing needs regular practice, structure, keywords, examples, and feedback.
So, start writing now, not after the syllabus is over.
📌 ARD Full Course: https://www.chapterss.in/l/rm6bF8W
📌 Management Full Course: https://www.chapterss.in/l/fjh0LmS
Sample Copy for ARD 👇
Chapterss
Agriculture and Rural Development | NABARD Grade A
Complete ARD Preparation. Simple, Structured, Exam-Oriented.
Message of Mentor
Topic: Episode 212
Devanshu Sir:
Jalaj Sir, what are you doing?
Jalaj Sir:
Nothing Sir, just calculating the total number of classes that we may upload on YouTube in the next 6 to 8 months.
Devanshu Sir:
Oh! And what number have you reached?
Jalaj Sir:
Sir, if we include ARD, Management, Finance, current affairs and ESI, the estimate is coming to around 212+ videos on YouTube itself.
Devanshu Sir:
212+ free videos? That is actually a very big number.
Jalaj Sir:
Exactly Sir. When I saw the number, I actually smiled. Because if this much content is available to students for free, and that too in an organised manner, they will not have to run here and there now.
Devanshu Sir:
And that is exactly why we created Chapterss.
Jalaj Sir:
Yes Sir. Our aim was simple, to make quality preparation more accessible, more structured, and more affordable.
Devanshu Sir:
But I hope students also understand that creating this much free content requires a lot of effort, time, team support and cost.
Jalaj Sir:
Absolutely Sir. We will keep doing our part with full honesty. We only hope that students support us with the same honesty, by attending the classes, sharing them with serious aspirants, and trusting the process.
Devanshu Sir:
One day, when those 212+ videos are actually there on YouTube, we will remember this conversation.
Jalaj Sir:
Definitely Sir. And hopefully, students will also remember that Chapterss tried to build something genuinely useful for them.
Dear Students,
This is just the beginning. Stay consistent, attend the classes, and make the best use of the free resources we are creating for you.
Good Night
Team Chapterss
Topic: Episode 212
Devanshu Sir:
Jalaj Sir, what are you doing?
Jalaj Sir:
Nothing Sir, just calculating the total number of classes that we may upload on YouTube in the next 6 to 8 months.
Devanshu Sir:
Oh! And what number have you reached?
Jalaj Sir:
Sir, if we include ARD, Management, Finance, current affairs and ESI, the estimate is coming to around 212+ videos on YouTube itself.
Devanshu Sir:
212+ free videos? That is actually a very big number.
Jalaj Sir:
Exactly Sir. When I saw the number, I actually smiled. Because if this much content is available to students for free, and that too in an organised manner, they will not have to run here and there now.
Devanshu Sir:
And that is exactly why we created Chapterss.
Jalaj Sir:
Yes Sir. Our aim was simple, to make quality preparation more accessible, more structured, and more affordable.
Devanshu Sir:
But I hope students also understand that creating this much free content requires a lot of effort, time, team support and cost.
Jalaj Sir:
Absolutely Sir. We will keep doing our part with full honesty. We only hope that students support us with the same honesty, by attending the classes, sharing them with serious aspirants, and trusting the process.
Devanshu Sir:
One day, when those 212+ videos are actually there on YouTube, we will remember this conversation.
Jalaj Sir:
Definitely Sir. And hopefully, students will also remember that Chapterss tried to build something genuinely useful for them.
Dear Students,
This is just the beginning. Stay consistent, attend the classes, and make the best use of the free resources we are creating for you.
Good Night
Team Chapterss
❤17🔥2
🌅 Good Morning, Future Officers!
Today’s Positive Manifestation
“Today, I choose progress over pressure.
One step, one task, one win at a time.”
“आज मैं दबाव नहीं, प्रगति चुनता हूँ।
एक कदम, एक कार्य, एक जीत… बस इतना ही काफ़ी है।”
Repeat it 5 times…
Let your steady pace carry you through the day. ✨
Today’s Positive Manifestation
“Today, I choose progress over pressure.
One step, one task, one win at a time.”
“आज मैं दबाव नहीं, प्रगति चुनता हूँ।
एक कदम, एक कार्य, एक जीत… बस इतना ही काफ़ी है।”
Repeat it 5 times…
Let your steady pace carry you through the day. ✨
❤2
Dear Future Officers,
Camera Check ✅
Content Check ✅
Devanshu Sir Ready ✅
Now it’s your turn.
Join today’s 8 AM live class for current affairs and start your preparation with full focus.
See you sharp at 8 AM.
Link to Join - https://youtube.com/live/JwmglmiXbtQ?feature=share
Team Chapterss
Camera Check ✅
Content Check ✅
Devanshu Sir Ready ✅
Now it’s your turn.
Join today’s 8 AM live class for current affairs and start your preparation with full focus.
See you sharp at 8 AM.
Link to Join - https://youtube.com/live/JwmglmiXbtQ?feature=share
Team Chapterss
YouTube
10 & 11 May 2026 Current Affairs | RBI Grade B 2026 | 8AM Live | Phase 1 + 2 Coverage | PIB + RBI
Dear Future Officers,
We are conducting our Daily Current Affairs Session at 8 AM (Tuesday to Saturday), a disciplined, exam-oriented initiative designed for RBI Grade B, SEBI Grade A, NABARD Grade A, IRDAI Grade A, PFRDA Grade A, NPS Grade A/B and Banking…
We are conducting our Daily Current Affairs Session at 8 AM (Tuesday to Saturday), a disciplined, exam-oriented initiative designed for RBI Grade B, SEBI Grade A, NABARD Grade A, IRDAI Grade A, PFRDA Grade A, NPS Grade A/B and Banking…
Dear Students,
Has RBI failed because the rupee is depreciating again and again?
This is the first question that may come to your mind after reading this snippet. But currency movement is not that simple.
The fall in the rupee is linked to dollar strength, global uncertainty, capital flows and market sentiment.
Read the quick decode below.
Has RBI failed because the rupee is depreciating again and again?
This is the first question that may come to your mind after reading this snippet. But currency movement is not that simple.
The fall in the rupee is linked to dollar strength, global uncertainty, capital flows and market sentiment.
Read the quick decode below.
Chapterss Quick Decode | Episode 03
1. The Core Development: Rupee Slips Past 96
The rupee has slipped past the 96 mark against the US dollar, touching a fresh low. This means more rupees are now required to buy one US dollar.
2. Why Is the Rupee Under Pressure?
The immediate reason mentioned in the snippet is the strengthening of the US Dollar Index.
When the dollar becomes stronger globally, emerging market currencies like the rupee usually come under pressure. Investors may prefer dollar assets, foreign capital flows may become cautious, and importers may demand more dollars for payments.
So, the rupee is not weakening in isolation. It is reacting to a stronger dollar, global uncertainty and market sentiment.
3. What Is Dollar Index?
The Dollar Index measures the strength of the US dollar against a basket of 6 major global currencies: the Euro, Japanese Yen, British Pound, Canadian Dollar, Swedish Krona and Swiss Franc.
If the Dollar Index rises, it means the US dollar is strengthening globally. If it falls, it means the dollar is weakening globally. In this case, the Dollar Index rose from 98.51 to 99.30. This means the dollar became stronger, and that put pressure on the rupee.
4. The Test for RBI: Has RBI Failed?
A falling rupee does not automatically mean RBI has failed. RBI’s job is not to permanently fix the rupee at one level. Its role is to manage excessive volatility, maintain orderly market conditions and protect external sector stability.
If the rupee is falling because of global dollar strength, RBI may intervene to smooth sharp movements, but it may not completely stop depreciation.
So, the real test for RBI is not whether the rupee falls or not. The real test is whether the fall remains orderly or becomes disruptive.
In the current situation, the rupee’s decline has been gradual rather than a sudden collapse, which suggests that RBI has largely been able to prevent panic and excessive volatility. Therefore, it would not be correct to conclude that RBI has failed simply because the rupee has depreciated.
5. Tough Days Ahead: Inflation Risk May Return
A weaker rupee can make imports costlier, especially crude oil, fertilisers, electronics and other dollar-priced imports. If import costs rise, businesses may initially absorb some pressure. But if the pressure continues, it can gradually reach consumers through higher prices.
This is why rupee depreciation can create imported inflation risk. In simple terms, a weaker rupee can make the inflation fight tougher for RBI.
Chapterss Takeaway:
Rupee depreciation is not just a currency market event. It connects directly with Dollar Index, capital flows, import costs, inflation risk and RBI’s exchange rate management.
Question for you, can you list 3 steps taken by RBI to prevent excessive Rupee depreciation?
Team Chapterss
PS:
Want to read more?
Read 50+ editorials and news explainers in our Editorial Course, and for complete CA coverage with quizzes, reports, schemes, PIB and regulatory updates, join our Current Affairs Package.
Editorial Course: Click Here | Price Rs.350 only
Current Affairs Package: Click Here | Price - Rs. 100 Per month (Yearly Basis)
1. The Core Development: Rupee Slips Past 96
The rupee has slipped past the 96 mark against the US dollar, touching a fresh low. This means more rupees are now required to buy one US dollar.
2. Why Is the Rupee Under Pressure?
The immediate reason mentioned in the snippet is the strengthening of the US Dollar Index.
When the dollar becomes stronger globally, emerging market currencies like the rupee usually come under pressure. Investors may prefer dollar assets, foreign capital flows may become cautious, and importers may demand more dollars for payments.
So, the rupee is not weakening in isolation. It is reacting to a stronger dollar, global uncertainty and market sentiment.
3. What Is Dollar Index?
The Dollar Index measures the strength of the US dollar against a basket of 6 major global currencies: the Euro, Japanese Yen, British Pound, Canadian Dollar, Swedish Krona and Swiss Franc.
If the Dollar Index rises, it means the US dollar is strengthening globally. If it falls, it means the dollar is weakening globally. In this case, the Dollar Index rose from 98.51 to 99.30. This means the dollar became stronger, and that put pressure on the rupee.
4. The Test for RBI: Has RBI Failed?
A falling rupee does not automatically mean RBI has failed. RBI’s job is not to permanently fix the rupee at one level. Its role is to manage excessive volatility, maintain orderly market conditions and protect external sector stability.
If the rupee is falling because of global dollar strength, RBI may intervene to smooth sharp movements, but it may not completely stop depreciation.
So, the real test for RBI is not whether the rupee falls or not. The real test is whether the fall remains orderly or becomes disruptive.
In the current situation, the rupee’s decline has been gradual rather than a sudden collapse, which suggests that RBI has largely been able to prevent panic and excessive volatility. Therefore, it would not be correct to conclude that RBI has failed simply because the rupee has depreciated.
5. Tough Days Ahead: Inflation Risk May Return
A weaker rupee can make imports costlier, especially crude oil, fertilisers, electronics and other dollar-priced imports. If import costs rise, businesses may initially absorb some pressure. But if the pressure continues, it can gradually reach consumers through higher prices.
This is why rupee depreciation can create imported inflation risk. In simple terms, a weaker rupee can make the inflation fight tougher for RBI.
Chapterss Takeaway:
Rupee depreciation is not just a currency market event. It connects directly with Dollar Index, capital flows, import costs, inflation risk and RBI’s exchange rate management.
Question for you, can you list 3 steps taken by RBI to prevent excessive Rupee depreciation?
Team Chapterss
PS:
Want to read more?
Read 50+ editorials and news explainers in our Editorial Course, and for complete CA coverage with quizzes, reports, schemes, PIB and regulatory updates, join our Current Affairs Package.
Editorial Course: Click Here | Price Rs.350 only
Current Affairs Package: Click Here | Price - Rs. 100 Per month (Yearly Basis)
www.chapterss.in
The Chapterss is a student-focused learning initiative created by teachers who firmly believe that meaningful preparation happens one chapter at a time.
❤6
Feedback for Jalaj Sir’s Management Classes.
“I don’t even want to mug up any concepts or points. After watching videos, if I think of any topic, it naturally flows in my mind.”
This is exactly what we are trying to build at Chapterss, not rote learning, not random content, but conceptual clarity that stays with you.
If you are preparing for RBI Grade B, don’t delay Management. The earlier you build clarity, the stronger your Phase 2 preparation becomes.
Team Chapterss
“I don’t even want to mug up any concepts or points. After watching videos, if I think of any topic, it naturally flows in my mind.”
This is exactly what we are trying to build at Chapterss, not rote learning, not random content, but conceptual clarity that stays with you.
If you are preparing for RBI Grade B, don’t delay Management. The earlier you build clarity, the stronger your Phase 2 preparation becomes.
Team Chapterss
❤1🔥1
“He doesn’t just teach Current Affairs, he connects it, revises it, and makes it doable.”
This is exactly what Devanshu Sir’s CA classes are designed for not random news coverage, but structured understanding, repeated revision, and exam-oriented retention.
If CA feels heavy right now, don’t delay. Start with the right system before the backlog becomes unmanageable.
Team Chapterss
This is exactly what Devanshu Sir’s CA classes are designed for not random news coverage, but structured understanding, repeated revision, and exam-oriented retention.
If CA feels heavy right now, don’t delay. Start with the right system before the backlog becomes unmanageable.
Team Chapterss
❤1🔥1
Thank you, dear students ❤️
Even when we are not asking for feedback, you are still taking out time to share such beautiful messages with us. It genuinely means a lot and keeps the entire Chapterss team motivated.
More structured, exam-oriented and high-quality content is on its way.
Keep trusting. Keep learning.
Team Chapterss
Even when we are not asking for feedback, you are still taking out time to share such beautiful messages with us. It genuinely means a lot and keeps the entire Chapterss team motivated.
More structured, exam-oriented and high-quality content is on its way.
Keep trusting. Keep learning.
Team Chapterss
❤1
Dear Students,
This snippet is not just about states spending less than their budgeted capex.
It raises a deeper question: if states announce higher capital expenditure, does that automatically mean roads, bridges, schools, hospitals and infrastructure are actually being created?
Read the quick decode below.
This snippet is not just about states spending less than their budgeted capex.
It raises a deeper question: if states announce higher capital expenditure, does that automatically mean roads, bridges, schools, hospitals and infrastructure are actually being created?
Read the quick decode below.
Chapterss Quick Decode | Episode 04
1. The Core Development: States Spent Only 77.23% of Budgeted Capex
👉 In FY26, 20 states utilised only 77.23% of their combined budgeted capital expenditure. They had budgeted capex of around ₹10.26 trillion, but actual spending stood at around ₹7.92 trillion.
👉 This is lower than FY25, when 26 states had utilised 80.23% of their budgeted capex. So, the core issue is simple: states may announce higher capex, but actual utilisation can still remain weak.
2. Why Capex Utilisation Matters
👉 Capital expenditure means government spending on asset creation, such as roads, bridges, irrigation, schools, hospitals, power infrastructure and other long-term projects.
👉 Unlike revenue expenditure, capex has a stronger growth multiplier because it creates productive capacity in the economy.
👉 So, when states underutilise capex, the problem is not just accounting. It can slow infrastructure creation, reduce investment momentum and weaken the development impact of the budget.
3. Leaders and Laggards: Uneven Spending Across States
The snippet shows a clear divergence across states.
👉 Telangana utilised 147.58% of its budgeted capex, meaning it spent much more than its budget estimate. Karnataka and Himachal Pradesh also crossed high utilisation levels.
👉 On the other hand, West Bengal utilised only 48.06%, Rajasthan 51.82%, Chhattisgarh 57.12%, Tripura 63.34%, and Odisha 65.88%.
👉 This shows that India’s public investment story is not uniform. Some states are pushing capex aggressively, while others are lagging behind.
4. Why Can Capex Utilisation Fall Despite Higher Outlay?
👉 Higher budget allocation does not automatically convert into actual spending.
👉 Capex utilisation may fall due to delays in project approvals, land acquisition issues, weak administrative capacity, tendering delays, election-related disruptions, liquidity constraints or slower project execution.
👉 So, for exams, remember: budgeted capex shows intent, but actual capex shows execution.
Chapterss Takeaway:
Capital expenditure is meaningful only when budgeted outlays are actually utilised. Higher capex allocation shows government intent, but actual capex spending shows execution capacity and real development impact.
Team Chapterss
PS:
Want to read more?
Read 50+ editorials and news explainers in our Editorial Course, and for complete CA coverage with quizzes, reports, schemes, PIB and regulatory updates, join our Current Affairs Package.
Editorial Course: Click Here | Price Rs.350 only
Or
Current Affairs Package: Click Here | Price - Rs. 100 Per month (Yearly Basis)
1. The Core Development: States Spent Only 77.23% of Budgeted Capex
👉 In FY26, 20 states utilised only 77.23% of their combined budgeted capital expenditure. They had budgeted capex of around ₹10.26 trillion, but actual spending stood at around ₹7.92 trillion.
👉 This is lower than FY25, when 26 states had utilised 80.23% of their budgeted capex. So, the core issue is simple: states may announce higher capex, but actual utilisation can still remain weak.
2. Why Capex Utilisation Matters
👉 Capital expenditure means government spending on asset creation, such as roads, bridges, irrigation, schools, hospitals, power infrastructure and other long-term projects.
👉 Unlike revenue expenditure, capex has a stronger growth multiplier because it creates productive capacity in the economy.
👉 So, when states underutilise capex, the problem is not just accounting. It can slow infrastructure creation, reduce investment momentum and weaken the development impact of the budget.
3. Leaders and Laggards: Uneven Spending Across States
The snippet shows a clear divergence across states.
👉 Telangana utilised 147.58% of its budgeted capex, meaning it spent much more than its budget estimate. Karnataka and Himachal Pradesh also crossed high utilisation levels.
👉 On the other hand, West Bengal utilised only 48.06%, Rajasthan 51.82%, Chhattisgarh 57.12%, Tripura 63.34%, and Odisha 65.88%.
👉 This shows that India’s public investment story is not uniform. Some states are pushing capex aggressively, while others are lagging behind.
4. Why Can Capex Utilisation Fall Despite Higher Outlay?
👉 Higher budget allocation does not automatically convert into actual spending.
👉 Capex utilisation may fall due to delays in project approvals, land acquisition issues, weak administrative capacity, tendering delays, election-related disruptions, liquidity constraints or slower project execution.
👉 So, for exams, remember: budgeted capex shows intent, but actual capex shows execution.
Chapterss Takeaway:
Capital expenditure is meaningful only when budgeted outlays are actually utilised. Higher capex allocation shows government intent, but actual capex spending shows execution capacity and real development impact.
Team Chapterss
PS:
Want to read more?
Read 50+ editorials and news explainers in our Editorial Course, and for complete CA coverage with quizzes, reports, schemes, PIB and regulatory updates, join our Current Affairs Package.
Editorial Course: Click Here | Price Rs.350 only
Or
Current Affairs Package: Click Here | Price - Rs. 100 Per month (Yearly Basis)
www.chapterss.in
The Chapterss is a student-focused learning initiative created by teachers who firmly believe that meaningful preparation happens one chapter at a time.
❤1
Dear Future Officers,
Today at 4:00 PM, we will conduct the Current Affairs Weekly Revision Session covering 18th–25th March 2026.
As we all know, March 2026 is extremely important for the exam scheduled on 13th June 2026. So, make sure you revise the 3rd week of March 2026 properly and do not leave any gaps in your preparation.
Join the session on time and revise with full focus.
Link: https://youtube.com/live/PJJunowrVwY?feature=share
For those looking for PDFs for revision:
• May CA Chapter (₹51) | Link: Click Here
• April CA Chapter (₹51)| Link: Click Here
• Complete CA Package (₹100) | Link: Click Here
-- Team Chapterss
Today at 4:00 PM, we will conduct the Current Affairs Weekly Revision Session covering 18th–25th March 2026.
As we all know, March 2026 is extremely important for the exam scheduled on 13th June 2026. So, make sure you revise the 3rd week of March 2026 properly and do not leave any gaps in your preparation.
Join the session on time and revise with full focus.
Link: https://youtube.com/live/PJJunowrVwY?feature=share
For those looking for PDFs for revision:
• May CA Chapter (₹51) | Link: Click Here
• April CA Chapter (₹51)| Link: Click Here
• Complete CA Package (₹100) | Link: Click Here
-- Team Chapterss
YouTube
RBI Grade B 2026 | Current Affairs Weekly Revision Class | March 2026 | Current Affairs Revision
In this session, we cover the complete revision of Current Affairs for the 3rd week of March 2026 (18–25 March) (Part 2), specifically designed for RBI Grade B 2026 preparation.
This is not just a reading session, this is a structured, exam-oriented revision…
This is not just a reading session, this is a structured, exam-oriented revision…
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Dear Students,
Only last 24 hours are left to fill the RBI Grade B Officer exam form.
Please do not wait for the last hour or tomorrow to start the application process. Tomorrow, due to high traffic, the server may become slow or face issues, and there is always a risk that you may not be able to complete the form on time.
So, complete your form today itself and keep yourself tension-free.
In case you have any doubt regarding the form-filling process, you can watch the session below.
Link: https://www.youtube.com/watch?v=2FCNDajygis&t=1166s
--Team Chapterss
Only last 24 hours are left to fill the RBI Grade B Officer exam form.
Please do not wait for the last hour or tomorrow to start the application process. Tomorrow, due to high traffic, the server may become slow or face issues, and there is always a risk that you may not be able to complete the form on time.
So, complete your form today itself and keep yourself tension-free.
In case you have any doubt regarding the form-filling process, you can watch the session below.
Link: https://www.youtube.com/watch?v=2FCNDajygis&t=1166s
--Team Chapterss
👍1
Dear Future Officers,
The Daily Current Affairs Quiz for 10th & 11th May 2026 has been uploaded on the portal. Now it’s your turn, go ahead and attempt the quiz, analyze your performance, and strengthen your retention.
Do share your scores!!
Stay consistent. Every quiz takes you one step closer.
-- Team Chapterss
For those who wish to join:
• May CA Chapter (₹51) | Link: Click Here
• April CA Chapter (₹51)| Link: Click Here
• Complete CA Package (₹100) | Link: Click Here
The Daily Current Affairs Quiz for 10th & 11th May 2026 has been uploaded on the portal. Now it’s your turn, go ahead and attempt the quiz, analyze your performance, and strengthen your retention.
Do share your scores!!
Stay consistent. Every quiz takes you one step closer.
-- Team Chapterss
For those who wish to join:
• May CA Chapter (₹51) | Link: Click Here
• April CA Chapter (₹51)| Link: Click Here
• Complete CA Package (₹100) | Link: Click Here
👍1
Message of Mentor (MoM)
Topic: Patience & Faith
Dear Students,
Many times in preparation, you give honest and consistent efforts, yet the results do not come immediately.
Slow progress often creates self-doubt.
You start questioning your preparation.
You start questioning your capabilities.
But remember one thing clearly:
Results take time to appear.
The Chinese bamboo tree spends years building strong roots beneath the surface before suddenly growing rapidly towards the sky. Your preparation journey is also similar.
Every revision, every mock, every mistake analysis and every disciplined day is silently building your foundation.
Do not leave the process just because the outcome is delayed.
Keep working with patience.
Keep moving with faith.
Because one day, all your invisible efforts will become visible results.
Good Night
-- Team Chapterss
Topic: Patience & Faith
Dear Students,
Many times in preparation, you give honest and consistent efforts, yet the results do not come immediately.
Slow progress often creates self-doubt.
You start questioning your preparation.
You start questioning your capabilities.
But remember one thing clearly:
Results take time to appear.
The Chinese bamboo tree spends years building strong roots beneath the surface before suddenly growing rapidly towards the sky. Your preparation journey is also similar.
Every revision, every mock, every mistake analysis and every disciplined day is silently building your foundation.
Do not leave the process just because the outcome is delayed.
Keep working with patience.
Keep moving with faith.
Because one day, all your invisible efforts will become visible results.
Good Night
-- Team Chapterss
👍5🔥1
🌅 Good Morning, Future Officers!
Today’s Positive Manifestation:
“Wow, what a journey I am on.
I am studying with purpose, and I am truly grateful for this path.”
“वाह, मैं कितनी खूबसूरत यात्रा पर हूँ।
मैं पूरे मन से पढ़ाई कर रहा/रही हूँ और इस सफ़र के लिए दिल से आभारी हूँ।”
Repeat it 5 times.
Let gratitude fuel your discipline and growth today.
Today’s Positive Manifestation:
“Wow, what a journey I am on.
I am studying with purpose, and I am truly grateful for this path.”
“वाह, मैं कितनी खूबसूरत यात्रा पर हूँ।
मैं पूरे मन से पढ़ाई कर रहा/रही हूँ और इस सफ़र के लिए दिल से आभारी हूँ।”
Repeat it 5 times.
Let gratitude fuel your discipline and growth today.
❤1
Dear Students,
Jalaj Sir has been unwell since yesterday due to a minor throat issue, and the doctor has advised him to take proper rest for 2–3 days. Because of this, a few videos may be delayed.
However, the course work is continuing smoothly. Notes, quizzes, tests, and other content are being added as per schedule. We are fully committed, and Sir’s videos will resume from 22nd May both on YouTube and inside the course.
Thank you for your patience and support.
Team Chapterss
Jalaj Sir has been unwell since yesterday due to a minor throat issue, and the doctor has advised him to take proper rest for 2–3 days. Because of this, a few videos may be delayed.
However, the course work is continuing smoothly. Notes, quizzes, tests, and other content are being added as per schedule. We are fully committed, and Sir’s videos will resume from 22nd May both on YouTube and inside the course.
Thank you for your patience and support.
Team Chapterss
👍4