Annual Survey of Unincorporated Sector Enterprises: The Ministry of Statistics and Programme Implementation (MoSPI) has released the results of Annual Survey of Unincorporated Sector Enterprises (ASUSE) for 2023-24. The ASUSE 2023-24 results highlight significant growth in establishments, employment, and productivity in the unincorporated non-agricultural sector. The total number of establishments in the sector increased substantially […]
Category: Economics Current Affairs
Real Effective Exchange Rate (REER)
Real Effective Exchange Rate (REER): The real effective exchange rate (REER) index of the rupee touched a record 108.14 in November, strengthening by 4.5 per cent during this calendar year, according to the latest RBI data.REER is a weighted average of a nation’s currency value against the currencies of its trading partners, adjusted for inflation.
Employees Provident Fund Organisation
Employees Provident Fund Organisation: The Employees’ Provident Fund Organisation (EPFO) achieved a significant milestone with a net addition of 13.41 lakh members in October 2024.Established in: 1952 under the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952. Administering Ministry: Ministry of Labour and Employment. Aim: To ensure social security for the organized sector workforce through […]
RBI Sets Up Panel for Ethical AI Framework in Financial Sector
RBI Sets Up Panel for Ethical AI Framework in Financial Sector: The Reserve Bank of India (RBI) has constituted an eight-member committee to develop the Framework for Responsible and Ethical Enablement of Artificial Intelligence (FREE-AI) in the financial sector. Announced during the RBI’s December monetary policy meeting, this initiative focuses on guiding the adoption of […]
Farmers Producer Organisations
Farmers Producer Organisations: The Indian Council for Research on International Economic Relations (ICRIER) recently analyzed challenges faced by India’s Farmer Producer Organisations (FPOs) and suggested necessary reforms. An FPO is a type of Producer Organisation (PO) formed by farmers. It operates as an organization of the producers, by the producers, and for the producers. The […]
55th GST Council Meeting
55th GST Council Meeting: The Finance Minister chaired the 55th Goods and Services Tax (GST) Council meeting. GST council decided to raise the rate of tax to 18% from 12% on all used EV sales, just as in case of non-electric vehicles. GST will apply only to the margin value (difference between purchase and selling […]
Govt Infuses ₹500 Cr in IFCI to Boost Financial Health
Govt Infuses ₹500 Cr in IFCI to Boost Financial Health: The Indian government has decided to infuse ₹500 crore into the state-owned Industrial Finance Corporation of India (IFCI) to strengthen its financial health ahead of the company’s restructuring. This infusion will likely increase the government’s stake in IFCI beyond its current holding of 71.72% as […]
SEBI Bans 9 Entities, Impounds ₹21 Crore in Front-Running Case
SEBI Bans 9 Entities, Impounds ₹21 Crore in Front-Running Case: The Securities and Exchange Board of India (SEBI) has issued an interim order banning Sachin Bakul Dagli, an equity dealer with PNB MetLife, and eight other entities from the securities market for their involvement in a front-running scheme. This fraudulent activity, operational for over three […]
RBI Report on State Finances 2024-25
RBI Report on State Finances 2024-25: The Reserve Bank of India’s (RBI) report, State Finances – A Study of Budgets of 2024-25, highlighted the progress made by state governments in fiscal consolidation, alongside significant challenges such as high debt levels and rising subsidies. Key Highlights of the Report: The average tax buoyancy (responsiveness of tax […]
Green Deposits
Green Deposits: Green deposits in India face sluggish adoption due to pricing issues, low public engagement, and limited interest from private banks.These are interest-bearing deposits earmarked for funding green projects, such as solar energy, clean transportation, and sustainable water management.In June 2023, the Reserve Bank of India’s (RBI) introduced a framework for green deposits to […]
