Vertical Fiscal Imbalance: There is the problem of Vertical Fiscal Imbalance (VFI) in Indian fiscal federalism, where expenditure decentralization overwhelms the revenue-raising powers of the States. Vertical Fiscal Imbalance (VFI) is defined as the share of sub-national governments’ own spending not financed through their own revenues. A VFI describes a situation in which revenues do […]
Category: Economics Current Affairs
Tamil Nadu’s Rising Fintech Paysharp Secures RBI Authorization
Tamil Nadu’s Rising Fintech Paysharp Secures RBI Authorization: In a significant development for India’s fintech landscape, Paysharp, an emerging startup from Tamil Nadu, has achieved a major milestone. On August 30, 2024, the Reserve Bank of India (RBI) granted Paysharp its final authorization, cementing the company’s position in India’s dynamic payment system ecosystem.
AgriSURE Fund
AgriSURE Fund: The Union Minister for Agriculture and Farmers’ Welfare and Rural Development launched the AgriSURE Scheme in New Delhi. AgriSURE Fund for Start-ups & Rural Enterprises (AgriSURE) is an innovative fund which is a pioneering step toward revolutionizing the agricultural landscape in India. It mainly focuses on technology-driven, high-risk, high-impact ventures. It is designed […]
Finance Ministry to Sell 6.78% Stake in GIC Re for Rs 4,700 Crore
Finance Ministry to Sell 6.78% Stake in GIC Re for Rs 4,700 Crore: The Union Ministry of Finance plans to divest a 6.78% stake in General Insurance Corporation of India (GIC Re) through an offer-for-sale (OFS) to raise approximately Rs 4,700 crore. This will be the first stake sale since GIC Re’s listing in 2017.
‘Navratna’ Status To The State-Owned Companies
‘Navratna’ Status To The State-Owned Companies: SJVN, NHPC, and RailTel Corporation of India saw their shares rise by up to 5.2% following the Indian government’s decision to grant them ‘Navratna’ status. This designation, which enhances their financial and operational autonomy, was also awarded to Solar Energy Corporation of India (SECI), bringing the total number of […]
World Bank Ups India’s Growth Forecast to 7% for FY25
World Bank Ups India’s Growth Forecast to 7% for FY25: The World Bank has revised its growth forecast for the Indian economy, increasing it to 7% for the fiscal year 2024-25, up from the earlier estimate of 6.6%. This adjustment comes despite a slowdown to 6.7% in the April-June quarter, attributed to reduced government spending […]
RIL Becomes India’s First Company to Surpass Rs 10 Lakh Crore in Annual Revenue
RIL Becomes India’s First Company to Surpass Rs 10 Lakh Crore in Annual Revenue: Reliance Industries Limited (RIL) has made history as the first Indian company to exceed ₹10 lakh crore in annual revenue. This milestone was revealed during RIL’s Annual General Meeting (AGM) by Chairman Mukesh Ambani.
Uttar Pradesh to Invest Rs 33,500 Crore in IT and ITeS Hubs
Uttar Pradesh to Invest Rs 33,500 Crore in IT and ITeS Hubs: The Uttar Pradesh government is set to make a significant investment of approximately Rs 33,500 crore (around $4 billion) to spur growth in the Information Technology (IT) and IT-enabled Services (ITeS) sectors over the next five years.
V. Satish Kumar Takes Additional Charge as IOCL Chairman
V. Satish Kumar Takes Additional Charge as IOCL Chairman: V. Satish Kumar, the director (marketing) of Indian Oil Corporation Ltd. (IOCL), has assumed additional charge as the chairman, following the completion of Shrikant Madhav Vaidya’s tenure. Kumar, who has been with IOCL for 35 years, has held key positions across various regions and led significant […]
7th Rashtriya Poshan Maah 2024
7th Rashtriya Poshan Maah 2024: The 7th Rashtriya Poshan Maah was launched today at Mahatma Mandir, Gandhinagar, Gujarat, marking a significant step towards enhancing nutrition awareness and well-being across the nation.
