19th August 2025 Daily Current Affairs

1. India–China Diplomacy Heats Up

• PM Modi to meet China’s Foreign Minister Wang Yi, signaling renewed engagement to ease longstanding border tensions and possibly resume suspended trade and flights.

• External Affairs Minister S. Jaishankar emphasized a constructive, reciprocal approach to de-escalation during his discussion with Wang Yi, underlining the need for mutual trust and stability along the border

2. GST Reform & Economic Momentum

• Indian equities are forecast to open higher, buoyed by optimism over proposed GST reforms and progress in Ukraine-Russia peace efforts. The market responded positively to hopes of simplified taxation and geopolitical stability.

• S&P Global upgraded India’s sovereign credit rating to BBB—a significant milestone since 2007—citing fiscal discipline. Prime Minister Modi’s “GST 2.0” plan proposes just two tax slabs (5% and 18%), aimed at stimulating consumption and simplifying compliance, with implementation expected before Diwali.

3. Weather Disruptions in Mumbai

• Mumbai is under “red alert” for heavy rainfall, prompting the BMC to shut government and semi-government offices and advise private firms to allow work-from-home setups

• Schools and colleges across Mumbai have also been declared closed today for safety reasons.

4. Jaishankar Heads to Russia

• External Affairs Minister S. Jaishankar departs on a three-day visit to Russia (August 19–21) to engage in high-level diplomatic talks—crucial amid shifting alignments and tensions with the U.S.

At a Glance