Current Affair Category: Indian Economy

Public Sector Banks will develop a ‘Grameen Credit Score’ framework to empower self-help groups (SHGs) and rural borrowers About Grameen Credit Score: Objective and Purpose: Main Objective: To simplify access to financial services and loans for rural borrowers. Empowerment of Self-Help Groups (SHGs): The system aims to help self-help groups (SHGs) and rural borrowers, who […]

 Why in news ? The Household Consumption Expenditure Survey (HCES) 2023-24, released by the Ministry of Statistics and Programme Implementation (MoSPI), provides critical insights into the consumption patterns, inequality, and urban-rural differences in India. Below are the highlights of the findings: Key Trends Average Monthly Per Capita Consumption Expenditure (MPCE): Rural India: ₹4,122 (without imputed […]

Why in news ? The government introduced the Mutual Credit Guarantee Scheme for MSMEs (MCGS-MSME), announced in the FY25 Budget. Objective: To provide credit guarantee coverage for loans up to ₹100 crore to eligible MSMEs for procuring equipment and machinery. Guarantee Coverage: The scheme offers 60% guarantee coverage by the National Credit Guarantee Trustee Company Limited (NCGTC) to Member Lending Institutions […]

Key findings: Rise in Female-Headed Enterprises The percentage of proprietary units headed by women in unincorporated, non-agricultural enterprises increased to 26.2% in 2023-24 from 22.9% in 2022-23. Highest Female-Headed Enterprises by State: West Bengal: 36.4% Karnataka: 35.2% Telangana: 34.1% Gujarat: 32.2% Female Workers in the Sector Share of Female Workers: Women comprised 28.1% of total workers in the unincorporated […]

Why in News ?  the terms was recently used regarding the   Jammu & Kashmir ‘s  recent step towards fiscal prudence. What is Fiscal Austerity? Fiscal austerity refers to the economic policies adopted by governments to reduce budget deficits and debt levels, primarily by cutting public spending, increasing taxes, or a combination of both. It is […]

Why in news ? The terms was recently used in an article that discusses about fiscal condition of Delhi Government & challenges. Eg-the GFD-GSDP ratio was within the Fiscal Responsibility Legislation (FRL) limit of 3%. GFD (Gross Fiscal Deficit): Definition: The Gross Fiscal Deficit is the total amount of government borrowing required to meet its […]

Why in News ? The terms Headwind & Front-Loading Capex were in news recently.  What is Headwind? A “headwind” refers to any factor or condition that creates challenges or obstacles for progress, growth, or performance. In a business or economic context, headwinds can be external factors that hinder the growth or success of a company, […]

Why in News?  NITI Aayog has published its first Fiscal Health Index (FHI) report. Purpose: Assess the fiscal health of 18 major Indian States based on their contribution to GDP, demography, public expenditure, revenues, and fiscal stability. Time Period Covered: Rankings based on performance for FY 2022-23 and trends from 2014-15 to 2021-22. Released By: […]

India’s Digital Economy to Drive One-Fifth of GDP by 2030: Rapid Growth: India’s digital economy is expected to grow nearly twice as fast as the overall economy, contributing about one-fifth (20%) of the national GDP by 2030, surpassing agriculture and manufacturing. Current Contribution: In 2022-23, the digital economy accounted for 13.42% of national income, valued […]

Why in News ? The Central Board of Direct Taxes has issued fresh guidelines for applying the Principal Purpose Test (PPT) provisions under Double Tax Avoidance Agreements or DTAAs; deals with Cyprus, Mauritius and Singapore to remain outside for now 1. Introduction of Principal Purpose Test (PPT) CBDT Guidelines: Issued fresh guidance on applying PPT […]