Category: Economics Current Affairs

China Approves $31 Billion for 11 New Nuclear Reactors Across Five Sites: China has approved the construction of 11 new nuclear reactors across five sites, with a total investment of approximately 220 billion yuan ($31 billion). This marks a record number of permits as the government intensifies its reliance on nuclear energy to reduce carbon […]

Employees’ State Insurance Corporation: Shri Ashok Kumar Singh, IAS took over the charge of Director General of Employees’ State Insurance Corporation (ESIC) under Ministry of Labour & Employment, Govt. of India at its Headquarters in New Delhi on August 19.

Net FDI Rises to $6.9 Billion in Q1 FY25: According to the latest data from the Reserve Bank of India (RBI), net foreign direct investment (FDI) in India surged to $6.9 billion during the April-June quarter of FY25, compared to $4.7 billion in the same period last year.

Scheme For Special Assistance To States For Capital Investment 2024-25: The central government has earmarked financial incentives under the Scheme for Special Assistance to States for Capital Investment 2024-25 to promote land-related reforms across states. The Centre will provide states with Rs 10,000 crore in incentives for implementing land-related reforms in rural and urban areas, […]

Union Cabinet Approves Major Airport Projects in West Bengal and Bihar: The Union Cabinet has greenlit significant airport infrastructure projects in West Bengal and Bihar, with a total investment of approximately ₹2,962 crore. These developments are set to enhance air travel facilities and address growing passenger demand in these regions.

Windfall Tax On Petroleum Crude Oil: India has reduced the windfall tax on petroleum crude oil to Rs 2,100 per metric tonne, effective August 17, down from Rs 4,600 per tonne. This adjustment follows a previous reduction of 34.2 percent to Rs 4,600 on July 31.

Decline in FDI in India’s Food Processing Sector in 2023-24: Foreign direct investment (FDI) in India’s food processing sector experienced a significant decline of 30% in the fiscal year 2023-24, totaling Rs 5,037.06 crore, down from Rs 7,194.13 crore in 2022-23.

RBI Approves Salee Sukumaran Nair as MD & CEO of Tamilnad Mercantile Bank: The Reserve Bank of India (RBI) has approved the appointment of Salee Sukumaran Nair as the Managing Director and Chief Executive Officer of Tamilnad Mercantile Bank (TMB) for a three-year term.

Urban Unemployment Rate Declines to 6.6% in Q1 FY25: India’s urban unemployment rate slightly decreased to 6.6% in Q1 FY25 from 6.7% in Q4 FY24, as per the Periodic Labour Force Survey (PLFS) data released by the National Statistical Office (NSO).

L&T Finance Achieves NBFC-ICC Status from RBI: L&T Finance Ltd. has transitioned from an NBFC-Core Investment Company (NBFC-CIC) to a Non-Banking Financial Company (Investment and Credit Company) (NBFC-ICC) following the merger of its wholly-owned subsidiaries, including L&T Finance, L&T Infra Credit Ltd., and L&T Mutual Fund Trustee Ltd.