Category: Economics Current Affairs

India is on track to surpass Japan as the world’s fourth-largest economy by 2026: India is projected to overtake Japan to become the world’s fourth-largest economy by 2026, according to the PHD Chamber of Commerce and Industry (PHDCCI). This optimistic outlook is underpinned by robust GDP growth forecasts and strategic policy recommendations aimed at enhancing […]

8th Pay Commission Implementation: The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the constitution of the 8th Central Pay Commission, which will evaluate and recommend revised salary structures and allowances for central government employees and pensioners. This early initiative ensures readiness for implementing the recommendations by January 1, 2026.

Odisha Government Announces ₹20,000 Pension for Emergency Detainees: The Odisha state government has announced a significant welfare measure for individuals who were jailed during the Emergency period from 1975 to 1977. As of January 1, 2025, all surviving detainees from Odisha will receive a monthly pension of ₹20,000, along with medical coverage and other benefits. […]

National Turmeric Board: The Union Minister for Commerce and Industry inaugurated the National Turmeric Board in New Delhi. It will provide leadership on turmeric related matters, augment the efforts, and facilitate greater coordination with Spices Board and other Government agencies in development and growth of the turmeric sector. Composition of Board: A Chairperson to be […]

Telecom Technology Development Fund: The Centre for Development of Telematics (C-DOT) has signed an agreement with the Indian Institute of Technology Delhi (IIT Delhi) for the development of “Building Blocks for THz Communication Front Ends”for 6G under the Telecom Technology Development Fund (TTDF).Telecom Technology Development Fund has been setup under Universal Services Obligation Fund (USOF) […]

Surge in domestic urea production: India has witnessed a surge in domestic urea production with significant investments in new plants to achieve self-reliance under the government’s Atmanirbhar Bharat initiative.India’s current urea production capacity stands at over 31.4 million tonnes (MT) as of 2023-24, up from 22 MT in 2011-12. Six greenfield plants have added 7.55 […]

India’s Retail Inflation Drops to 5.22% In December: India’s retail inflation, as measured by the Consumer Price Index (CPI), decreased to 5.22% in December 2024 from 5.48% in November, marking a four-month low. This decline is primarily attributed to a slowdown in food price increases, particularly in vegetables, cereals, and pulses.

Universal Account Number: The Employee Provident Fund Organisation (EPFO) has extended the deadline for activating Universal Account Numbers (UAN) and linking Aadhaar with bank accounts Universal Account Number (UAN) is a number allotted to all salaried employees, who contribute a part of their income towards the Employee Provident Fund (EPF). It is a 12-digit number […]

RBI Lifts Lending Restrictions on Asirvad Micro Finance and DMI Finance: The Reserve Bank of India (RBI) has lifted the restrictions imposed on Asirvad Micro Finance Limited and DMI Finance Private Limited, allowing them to resume loan sanctioning and disbursal operations immediately.

Indian microfinance sector has grown by over 2,100% in the past 12 years: Over the past 12 years, India’s microfinance sector has experienced an extraordinary expansion, with its business increasing from ₹17,264 crore in March 2012 to ₹3.93 lakh crore by November 2024—a growth of over 2,100%. This significant rise underscores the sector’s pivotal role […]