Category: Economics Current Affairs

SBI Reports Decline in Poverty in India: A recent research report by the State Bank of India (SBI) highlights a remarkable decline in poverty rates across rural and urban India.The report attributes this decline to targeted government interventions, enhanced rural infrastructure, and improved consumption patterns among lower-income groups.Rural Poverty: Reduced to 4.86% in FY24 from […]

Centralized Pension Payments System: The Employees’ Provident Fund Organisation recently it has fully rolled out the Centralized Pension Payments System (CPPS) under Employees’ Pension Scheme 1995, enhancing the ease of living for millions of pensioners in the country.It is implemented by the Employees’ Provident Fund Organisation (EPFO) which allows pensioners to access their pension from […]

Baanknet Portal: The government recently launched a revamped e-auction portal, ‘Baanknet,’ in Delhi.It is an e-auction portal that consolidates information on all properties that are put up for e-auction by public sector banks (PSBs).The portal is a one-stop destination for buyers and investors offering a wide range of properties.The listings on the new platform include […]

Extension of Crop Insurance Schemes: The Union Cabinet has approved critical measures to support Indian farmers, including the extension of a special subsidy for Diammonium Phosphate (DAP) fertilizers and the continuation of crop insurance schemes until 2025-26.The Union Cabinet approved the continuation of the Pradhan Mantri Fasal Bima Yojana and Restructured Weather Based Crop Insurance […]

AICTE’s 2025 ‘Year of AI’: The All India Council for Technical Education (AICTE) has designated 2025 as the “Year of Artificial Intelligence” to position India as a global leader in AI.AICTE aims to promote AI in education through updated curricula, workshops for faculty, and collaborations with AI-driven companies for real-world exposure. Core elements of this […]

HDFC Bank Secures RBI Approval to Acquire Stakes in Peer Banks: HDFC Bank, India’s largest private sector lender, has received the Reserve Bank of India’s (RBI) approval to acquire up to a 9.5% stake in Kotak Mahindra Bank, AU Small Finance Bank, and Capital Small Finance Bank. This strategic move is facilitated through its group […]

Ramesh Chand Panel: The government recently announced the formation of an 18-member panel headed by NITI Aayog member Ramesh Chand to revise the base year of the Wholesale Price Index (WPI) and suggest a road map for switching over to the Producer Price Index (PPI). It has been established to revise the base year of […]

RBI’s 2024-25 Report on State Finances: The Reserve Bank of India’s (RBI) recent report, “State Finances: A Study of Budgets of 2024-25,” highlights significant improvements in the fiscal health of state governments post-pandemic, while also identifying areas requiring further attention. Gross Fiscal Deficit (GFD): States have successfully contained their consolidated GFD within 3% of GDP […]