Category: Economics Current Affairs

Decisions Of Monetary Policy Committee: The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has recently opted to maintain the policy repo rate at 6.5%, while simultaneously revising its projection for retail inflation in the current fiscal year (2023-24). Additionally, a temporary 10% Incremental Cash Reserve Ratio (I-CRR) is imposed on banks […]

Remittances : India Status Remittances to India surged by 26% to reach approximately $112 billion in FY23, marking a significant increase from the approx $89 billion recorded in FY22. This growth in remittances reflects the heightened demand for Indian professionals globally following the pandemic. Remittances are funds sent by migrants to their families and friends […]

Index Of Industrial Production: India’s Index of Industrial Production in India declined to a three-month low of 3.7 per cent in June, mainly due to poor showing by the manufacturing sector. It is one of the Prime indicators of economic development for the measurement of trends in the behavior of Industrial Production over a period […]

PUShP Portal: The National Power Committee (NPC) has asked States to provide suggestions for offering incentives to buyers and sellers on the surplus power portal PUSHp, PUShP portal is a High Price Day Ahead Market (HP-DAM) and Surplus Power Portal (PUShP) launched by the Ministry of Power. It was launched to ensure greater availability of […]

Employee Stock Option Plan: A parliamentary panel recently recommended to the government to amend the Income Tax Act to ensure that ESOPs (Employee Stock Option Plan) are taxed only at the time of sale of shares and not on notional gains to allow startups to hire ‘low-cost’ employees. Employee Stock Option Plan (ESOP) which is […]

India Web Browser Development Challenge: The Ministry of Electronics and Information Technology (MeitY) recently launched the Indian Web Browser Development Challenge (IWBDC). The challenge is spearheaded by MeitY in collaboration with the Controller of Certifying Authorities (CCA) and the Centre for Development of Advanced Computing (C-DAC) Bangalore. The Challenge seeks to inspire and empower technology […]

Cott-Ally App: The Union Minister of State for Ministry of Textiles informed Lok Sabha about Cott-Ally App. The Cotton Corporation of India Limited I has developed a mobile app – “Cott-Ally” exclusively for the cotton farmers. Objective: To maximise the use of the digital media among the farmers to increase the reach of all government […]

CBI Joined Interpol Global Academy Network: The Central Bureau of Investigation (CBI) Academy joined the Interpol Global Academy Network at a virtual event. Interpol Global Academy Network was launched in 2019 with the aim of supporting Interpol in leading a global approach to Law Enforcement Training. It is a network of trusted law enforcement education […]

Udyam Assist Platform: As per latest data, the government’s new Udyam Assist Platform (UAP) has 35 lakh units registered as of August 3, 2023. The Government launched UAP under the MSME formalization project on 11.01.2023 to bring Informal Micro Enterprises (IMEs) under the formal ambit for availing benefits under Priority Sector Lending. The platform has […]

Jeevan Pramaan: The Department of Pension & Pensioners’ Welfare (DoPPW) has taken proactive steps to enhance the ease of living for Central Government pensioners through the widespread promotion of Digital Life Certificates (DLC), known as Jeevan Pramaan. Pensioners must submit DLC every November (with a provision for those aged 80 years and above in October) […]