Current Affair Category: Indian Economy

Why in News ? In a landmark initiative marking India’s 75th year of Independence, Prime Minister Narendra Modi, alongside Finance Minister Nirmala Sitharaman and former Reserve Bank of India Governor Shaktikanta Das, inaugurated 75 Digital Banking Units (DBUs) . Key Points in the News: Inauguration and Initial Goals: In October 2022, 75 DBUs were launched […]

The ASEAN+3 framework involves ten ASEAN countries (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam) plus China, Japan, and South Korea. Formed in 1997 during the Asian Financial Crisis, it promotes economic, political, and socio-cultural cooperation in East Asia. Objectives: Drive economic integration via trade, investment, and financial stability. Ensure regional stability, addressing […]

Why in News? The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved a National Scheme for Industrial Training Institute (ITI) Upgradation and the establishment of five National Centres of Excellence (NCOE) for Skilling. Relevance : UPSC Pre &  Mains Prelims : Special Purpose Vehicle (SPV) model/ NHIDCL/ BOT (Build-Operate-Transfer) and HAM (Hybrid Annuity […]

Why in News: Indian stocks showed resilience and turned positive while the Karachi Stock Exchange (KSE-100) recorded a steep 6% decline in early trade following overnight Indian strikes in Pakistan and Pakistan-occupied Jammu and Kashmir (PoJK). The strikes were in response to the Pahalgam terror attack, which claimed 26 lives, highlighting geopolitical tensions in the […]

Why in News ?  At the inaugural World Audio Visual and Entertainment Summit (WAVES) 2025 held in Mumbai on May 1, 2025, Prime Minister Narendra Modi championed the Orange Economy as a key driver of India’s economic and cultural growth. Relevance :  UPSC Pre & Mains Prelims: Orange/Creative Economy/ Mains :GS Paper 1 (Culture, Geography), […]

 Why in News?  The National Trade Estimate (NTE) report is an annual publication by the Office of the United States Trade Representative (USTR) that identifies significant foreign trade barriers faced by U.S. exporters and businesses. It serves as a comprehensive review of global trade practices that hinder fair trade and economic competition. Key Features of […]

Why in News? The Central Board of Direct Taxes (CBDT)  has issued a notification under clause 46A of Section 10 of the Income Tax Act, 1961, which grants tax exemption to the National Mission for Clean Ganga (NMCG) on its income.  The designation of NMCG as an authority :What does it Means ? The designation […]

Why in News ? The spending of Corporate Social Responsibility (CSR) by listed companies in India has  significantly increased  to 16 % for the fiscal year 2023-24, reaching Rs 17,967 crore. This surge, driven by an 18% rise in average net profits, underscores the growing compliance with the CSR law mandated in April 2014, which […]

Why in news? India is focusing on developing its Arctic policy, particularly regarding the Northern Sea Route (NSR), a potential game-changer for global trade. The upcoming Arctic Circle India Forum on May 3–4, 2025, aims to push forward India’s Arctic strategy, balancing economic opportunities with ecological responsibility. Relvance for UPSC Pre & Mains: Prelims :  […]

Why in News?  The Jal Shakti Ministry’s request for an additional Rs 2.79 lakh crore to fund the Jal Jeevan Mission (JJM), a flagship scheme aimed at providing tap water connections to rural households, has been partially approved by the Expenditure Finance Committee (EFC), which recommended only Rs 1.51 lakh crore. Relevance for UPSC Preliminary […]