Current Affair Category: Indian Economy

Why in News? Union Cabinet approves Pradhan Mantri Rashtriya Krishi Vikas Yojana (PM-RKVY) to promote sustainable agriculture and Krishonnati Yojana (KY) to achieve food security for self-reliance States given the flexibility to reallocate funds from one component to another based on their specific requirement About  the Pradhan Mantri Rashtriya Krishi Vikas Yojana (PM-RKVY): PM-RKVY will […]

Why in News?The Rapid Financing Instrument (RFI) is a financial tool provided by the International Monetary Fund (IMF) that offers quick financial assistance to member countries facing urgent balance of payments needs. It is designed to provide swift financial relief in cases of economic crises caused by external shocks, such as natural disasters, commodity price […]

The central government has reconstituted the Monetary Policy Committee (MPC) under the provisions of the Reserve Bank of India (RBI) Act, 1934, the Ministry of Finance said in a statement. The government issued a notification on 1 October with the newly included names of the members of the MPC. The six-member MPC is responsible for […]

Why in News- India has recently achieved a significant milestone in the Asia Power Index, surpassing Japan to become the third most powerful country. This shift is a sign of India’s growing geopolitical status, active development and rapidly growing economy. Key factors for India’s rise: Economic growth- India made rapid economic reforms after the pandemic, […]

Remember the early 2000s, when China’s entry into the WTO sparked intense debates? Some said it would lead to a new wave of economic growth, while others warned of job losses due to cheap Chinese goods flooding global markets. Fast-forward to today, and we’re witnessing a similar scenario – what many are now calling ‘China […]

The terms “China Shock 1.0” and “China Shock 2.0” refer to two phases of economic impact caused by China’s integration into the global economy, particularly its influence on other economies due to its manufacturing dominance and trade practices. China Shock 1.0 This term usually refers to the massive disruption that many Western economies, particularly the […]

Why in News ?  IMF has recently officially approved $ 7 billion Extended Fund Facility Arrangement (EFF) to  Pakistan . What is Extended Fund Facility? The Extended Fund Facility (EFF) is intended for countries facing longer-term structural economic problems, requiring more sustained reforms over a longer period to address deep-rooted balance of payments issues. Key […]

The Global Digital Compact (GDC) is an initiative proposed by the United Nations to create a shared vision for an open, secure, and inclusive digital future. The proposal, part of the broader “Our Common Agenda” report by UN Secretary-General António Guterres, aims to bring governments, businesses, civil society, and other stakeholders together to establish global […]

Why in News? Unemployment rate for persons aged 15 years and above has remained unchanged at 3.2 per cent in July 2023 to June 2024, according to the labour force survey annual report released recently. Key points of the report: The report stated that while the UR for male has shown a marginal decline from […]

 Why in News ? The term has been frequently used in news papers. Urban farming is the practice of cultivating plants and raising animals within urban areas. It’s a sustainable approach to food production that can provide fresh, local produce, reduce food miles, and create green spaces in cities. In India, urban farming has gained […]