Swaminathan S. Iyer Appointed as Whole-Time Member (Life) of IRDAI: The Government of India has approved the appointment of Swaminathan S. Iyer as a whole-time member (life) of the Insurance Regulatory and Development Authority of India (IRDAI). This appointment has significant implications for the insurance sector, as the IRDAI plays a critical role in regulating […]
Category: Economics Current Affairs
India’s GST Collections Surge 9.9% YoY in March 2025
India’s GST Collections Surge 9.9% YoY in March 2025: India’s Goods and Services Tax (GST) collections witnessed a strong growth of 9.9% year-on-year (YoY) in March 2025, reaching Rs 1.96 lakh crore. This marks a significant rise in indirect tax revenue, reflecting steady economic activity and increased compliance. The gross GST collection for March stood […]
Decline in India’s Cotton Production
Decline in India’s Cotton Production: India, once the world’s largest cotton producer and exporter, is facing a significant decline in cotton production, primarily due to the lack of technological advancements and policy inaction.Hybrid Cotton Varieties developed by Indian scientists like C.T. Patel and B.H. Katarki in the 1970s, has significantly improved yields. Bt (Bacillus thuringiensis) […]
UPI Transactions Hit Record Rs 24.77 Trillion in March 2025, Marking New High in FY25
UPI Transactions Hit Record Rs 24.77 Trillion in March 2025, Marking New High in FY25: Unified Payments Interface (UPI) transactions surged to a record high in March 2025, reaching Rs 24.77 trillion in value and 19.78 billion in volume. This represents a significant 13% increase in value and 14% rise in volume compared to February […]
90th Anniversary of the Reserve Bank of India (RBI)
90th Anniversary of the Reserve Bank of India (RBI): The Reserve Bank of India (RBI) marks its 90th anniversary in 2025, commemorating nine decades of financial governance, economic stability, and monetary policy regulation in India. Established on April 1, 1935, under the Reserve Bank of India Act, 1934, the RBI has played a pivotal role […]
India’s 6.5% Growth Highest Amongst Advanced
India’s 6.5% Growth Highest Amongst Advanced: According to Moody’s Ratings, India is projected to achieve a 6.5% GDP growth in the current fiscal year (2025-26), making it the fastest-growing economy among advanced and emerging G20 nations. Although slightly lower than last year’s 6.7% growth, India continues to outpace its global counterparts, driven by strong tax […]
NITI NCAER States Economic Forum Portal
NITI NCAER States Economic Forum Portal: Amid complaints by opposition-ruled states that they faced discrimination in the sharing of resources, the Union Finance Minister will launch the “NITI NCAER States Economic Forum” portal. It was developed by NITI Aayog, in collaboration with the National Council of Applied Economic Research (NCAER). It is a comprehensive repository […]
Renault to Acquire Nissan’s Stake in India Manufacturing Unit
Renault to Acquire Nissan’s Stake in India Manufacturing Unit: Renault Group has announced that it will acquire the remaining 51% stake in Renault Nissan Automotive India Private Ltd (RNAIPL) from Nissan Motor Corp, making it the sole owner of the manufacturing facility in Chennai, India. This move comes after a 2023 agreement in which Renault […]
India’s Current Account Deficit (CAD) Rises
India’s Current Account Deficit (CAD) Rises: India’s current account deficit (CAD) widened to $11.5 billion (1.1% of GDP) in Q3 FY25 (Oct-Dec 2024) due to a higher merchandise trade deficit, according to the Reserve Bank of India (RBI). However, CAD moderated from $16.7 billion (1.8% of GDP) in Q2 FY25. Foreign exchange reserves have increased […]
SBI Chief CS Setty Appointed as Chairman of Indian Banks Association
SBI Chief CS Setty Appointed as Chairman of Indian Banks Association: The Indian Banks Association (IBA), the apex body representing the banking sector in India, has elected Challa Sreenivasalu Setty, the Chairman of State Bank of India (SBI), as its new chairman for the upcoming fiscal year. Setty will lead the association until the next […]
