Current Affair Category: Indian Economy

Article Published : The Indian Express ( 02/12/2024) Important for –GS1/GS 2/GS 3/ Social Issues/ Welfare Scheme/economic Impact/ Inclusive growth Gist/ Summary of the Article: The article discusses the benefits and drawbacks of women-targeted cash transfer schemes in India, such as West Bengal’s Lakshmir Bhandar and Maharashtra’s Ladki Bahin Yojana, which provide monthly payouts to […]

What India’s AI Safety Institute could do?  Article Published : The Hindu ( 02/12/2024) Important for –GS 3 Gist/ Summary of the Article: The article discusses the plans of the Indian government, through the Ministry of Electronics and Information Technology (MeitY), to establish an AI Safety Institute under the IndiaAI Mission. This initiative aligns with […]

Why in News? The Union Cabinet approved the PAN 2.0 Project recently, for PAN to be made the “the common identifier for businesses” and to make PAN as the “single source of truth and data consistency”. The 10-digit alphanumeric Permanent Account Number (PAN), issued by the Income Tax Department, is set for an upgrade, with a QR […]

India has a persistent trade deficit in merchandise trade but a consistent surplus in the services trade, reflecting the critical role of the service sector in mitigating economic imbalances. The trade deficit and the robust service sector together paint a nuanced picture of India’s economic strengths and challenges. Understanding Trade Deficit A trade deficit occurs […]

Solar Energy Corporation of India (SECI) The Solar Energy Corporation of India (SECI) is a government-owned enterprise under the Ministry of New and Renewable Energy (MNRE). Established in 2011, it plays a key role in promoting renewable energy, particularly solar energy, in India. SECI is pivotal in achieving India’s ambitious renewable energy targets and fostering […]

Private investment was lacklustre as reflected in sequentially lower investment in fixed and non-current assets during July-September 2024 on account of subdued corporate earnings, the bulletin said  Key Points: The November 2024 RBI Bulletin highlights a recovery in private consumption, driven by increased rural demand and resilient urban spending. Sectors such as FMCG, automobiles, and […]

Why in News ? The Finance Minister  has recently urged  lenders not to overburden customers with insurance products they do not require, and focus on mobilising deposits and lending; banks also nudged to be ‘more assertive’ on resolving distressed assets through NARCL. About the National Asset Reconstruction Company Limited (NARCL): The National Asset Reconstruction Company […]

India’s economy is in a “sweet spot” from a macroeconomic standpoint, blending strong growth with easing inflation, according to a recent report by Moody’s. The ratings agency projected India’s Gross Domestic Product (GDP) to grow by 7.2% in 2024, followed by 6.6% in 2025 and 6.5% in 2026. In the second quarter of 2024, India’s real […]

The Reserve Bank of India has  issued an operational framework for reclassification of investment made by a foreign portfolio investor to foreign direct investment (FDI) if the entity breaches the prescribed limit. Markets regulator Sebi too has issued a circular on procedure for reclassification of FPI investment to FDI. The reclassification of Foreign Portfolio Investment (FPI) to […]

The Digital Personal Data Protection Act, 2023 (DPDP Act) is India’s legislative framework aimed at regulating the collection, storage, processing, and transfer of digital personal data. Enacted in August 2023, the Act emphasizes user consent, data security, accountability, and protection of individual privacy. Here’s an overview of its key provisions and implications: 1. Key Objectives To safeguard individuals’ […]