Category: Economics Current Affairs

Rupee Depreciation: The Indian rupee recently experienced a sharp decline in value against the US dollar after a period of relative stability.Higher domestic prices reduced the real value of the rupee. And inflation-driven production costs made Indian exports less competitive.Increased imports, particularly of crude oil, led to higher demand for foreign currencies.Persistent fiscal imbalances put […]

PRABHAAV Factbook: Union Minister of Commerce & Industry, marked the 9th Foundation Day of Startup India by launching the PRABHAAV Factbook and the Bharat Startup Challenge.The PRABHAAV Factbook is a comprehensive guide detailing the growth and achievements of India’s startup ecosystem from 2016 to 2024. Department for Promotion of Industry and Internal Trade (DPIIT), under […]

8th Pay Commission: The Union Cabinet, chaired by Prime Minister, has approved the establishment of the 8th Pay Commission, aiming to revise the salaries of nearly 50 lakh central government employees and allowances for 65 lakh pensioners. A body established by the Central Government to review and recommend changes to the salary, allowances, and pension […]

RBI Allows Overseas Banks to Open INR Accounts: The Reserve Bank of India (RBI) has authorized overseas branches of authorized banks to open Indian Rupee (INR) accounts for non-residents. This initiative aims to bolster the global use of the Indian Rupee in cross-border transactions and investments.

Vineet Joshi Takes Charge as Secretary of Higher Education: Shri Vineet Joshi has assumed the role of Secretary of the Department of Higher Education in the Ministry of Education, effective today at Shastri Bhawan, New Delhi. Prior to this appointment, Shri Joshi had a distinguished career in various key positions within the Indian educational sector.

The Reserve Bank of India sold a record $20.2 billion in the forex market: The Reserve Bank of India (RBI) sold a record $20.2 billion in the foreign exchange market to stabilize the rupee amid significant foreign portfolio investor (FPI) outflows. This intervention increased the RBI’s net short position in the forward market to $58.9 […]

The Union Cabinet has approved a ₹11,440 crore revival package for debt-ridden RINL: The Union Cabinet has sanctioned a substantial ₹11,440 crore package to revitalize Rashtriya Ispat Nigam Limited (RINL), commonly known as Vizag Steel, addressing its critical financial challenges.This strategic intervention aims to infuse ₹10,300 crore as equity capital into RINL and convert ₹1,140 […]

India is on track to surpass Japan as the world’s fourth-largest economy by 2026: India is projected to overtake Japan to become the world’s fourth-largest economy by 2026, according to the PHD Chamber of Commerce and Industry (PHDCCI). This optimistic outlook is underpinned by robust GDP growth forecasts and strategic policy recommendations aimed at enhancing […]

8th Pay Commission Implementation: The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the constitution of the 8th Central Pay Commission, which will evaluate and recommend revised salary structures and allowances for central government employees and pensioners. This early initiative ensures readiness for implementing the recommendations by January 1, 2026.

Odisha Government Announces ₹20,000 Pension for Emergency Detainees: The Odisha state government has announced a significant welfare measure for individuals who were jailed during the Emergency period from 1975 to 1977. As of January 1, 2025, all surviving detainees from Odisha will receive a monthly pension of ₹20,000, along with medical coverage and other benefits. […]