Indian Economy Current Affairs for UPSC IAS Prelims 2025 Examination

News: The Centre has announced the appointment of Revenue Secretary Sanjay Malhotra as the 26th Governor of the Reserve Bank of India. About RBI Governor Appointment The RBI governor is appointed under the RBI Act of 1934, which stipulates that the chief is appointed by the central government. Process: The Financial Sector Regulatory Appointment Search… Continue reading RBI Governor Appointment

News: Yesterday, Prime Minister launched the Bima Sakhi Yojana of Life Insurance Corporation (LIC). About Bima Sakhi Yojana It is an initiative of LIC to appoint over two lakh woman insurance agents over the next three years. The aim is to empower women aged 18-70 years who are Class X pass. To promote financial literacy… Continue reading Bima Sakhi Yojana

News: The Reserve Bank of India has decided to increase the interest rate ceilings on Foreign Currency Non-Resident (Banks) Account deposits to support foreign inflows into the country. Foreign Currency Non-Resident (Banks) Deposits About Foreign Currency Non-Resident (Banks) Deposits It is a deposit scheme that enables the Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs)… Continue reading Foreign Currency Non-Resident (Banks) Deposits

News: Recently, the Reserve Bank of India (RBI) urged banks to adopt its AI/ML-based tool, MuleHunter.AI, to address the growing problem of mule accounts involved in digital frauds. About MuleHunter.AI It is a cutting-edge AI tool designed to detect and flag mule accounts, with the aim of tackling financial fraud and money laundering. Developed by–… Continue reading MuleHunter.AI: RBI’s AI-Powered Tool to Combat Financial Fraud

News: NITI Aayog’s Trade Watch Quarterly Report highlights the challenges being faced by the Indian economy. Key Highlights of the Report India achieved limited success in harnessing the China Plus One strategy. While countries like Vietnam, Thailand, Cambodia, and Malaysia have emerged as major beneficiaries These countries have simplified tax laws, cheap labour, lower tariffs… Continue reading Trade Watch Report

News: The Union Minister of Consumer Affairs, Food, and Public Distribution recently launched two initiatives: ‘Anna Chakra’ and the SCAN (Subsidy Claim Application for NFSA) portal. About Anna Chakra It is a Public Distribution System (PDS) Supply chain optimization tool. The Department of Food and Public Distribution leads the initiative to improve the efficiency of… Continue reading Anna Chakra & SCAN Portal

News: The Rajya Sabha recently passed the Oilfields (Regulation and Development) Amendment Bill, 2024. It enables major changes in India’s oil and gas exploration laws. About Oilfields (Regulation and Development) Amendment Bill, 2024 The bill seeks to amend the Oilfields (Regulation and Development) Act of 1948, with the goal of increasing investment in oil and… Continue reading Oilfields (Regulation and Development) Amendment Bill, 2024

News: RTI data reveals that PLI schemes have generated 5.84 lakh direct jobs by June 2024, which is about 36% of the 16.2 lakh direct jobs planned for the next five years across 14 sectors. Production Linked Incentive (PLI) Scheme About Production Linked Incentive (PLI) Scheme The PLI scheme was launched in March 2020 to… Continue reading Production Linked Incentive (PLI) Scheme

    News: The government recently removed the windfall tax on domestically produced crude oil and exports of petrol, diesel, and aviation turbine fuel after a decline in international oil prices. About Windfall tax Windfall tax is a tax imposed by governments on companies that have earned unexpectedly high profits due to favorable market conditions,… Continue reading Windfall tax

News: The Union Cabinet recently approved the launch of the National Mission on Natural Farming (NMNF). Natural Farming The Agriculture Ministry defines natural farming as a “chemical-free” farming method that relies solely on inputs derived from livestock and plant resources. Natural farming follows local farming principles, using regional knowledge and technologies suited to the local… Continue reading National Mission on Natural Farming (NMNF)

News: The Reserve Bank of India (RBI) is likely to use Open Market Operations (OMO) to maintain liquidity within a manageable range. 1. The Open Market Operations (OMO) are used by Reserve Bank of India to buy or sell the Government Securities (G-Secs) in the open market to influence the money supply. 2. They are… Continue reading Open Market Operations (OMO)

News: The government informed the Lok Sabha that the measure of hunger used in the Global Hunger Report 2024 Index is flawed and does not reflect India’s true position. About Global Hunger Index 1. The Global Hunger Index is a tool designed to measure and track hunger levels across the world. 2. GHI is released… Continue reading Global Hunger Index 2024

News: The Insurance Regulatory and Development Authority of India (IRDAI) chairman recently reiterated that the IRDAI’s ambitious project, Bima Sugam, will transform the insurance sector. About Bima Sugam 1. It is an online insurance marketplace (similar to an e-commerce platform) for purchasing, selling, servicing insurance policies, and settling claims. 2. It will be a plug-and-play… Continue reading Bima Sugam

Source: This post on 6GHz Spectrum has been created based on the article “Why India’s 6Ghz spectrum dilemma is affecting PS5 Pro console launch in India?” published in The Hindu on 25th November 2024. Why in news? Recently, Sony launched the PlayStation 5 Pro in major global markets but excluded India. India’s unresolved 6GHz spectrum… Continue reading 6GHz Spectrum

Source: This post on Nimoo Bazgo Power Station has been created based on the article “Union Minister Shri Manohar Lal visits 45 MW NHPC Nimoo Bazgo Power Station” published in PIB on 23rd November 2024. Why in news? Recently, the Union Minister of Power and Housing & Urban Affairs visited Nimoo Bazgo Power Station. About… Continue reading Nimoo Bazgo Power Station

Source-This post on Andaman and Nicobar Islands to become Tuna Export Hub is based on the article “Centre aims to make Andaman and Nicobar Islands a tuna export hub” published in “The Hindu” on 17th November 2024. Why in the News? India plans to make the Andaman and Nicobar Islands a tuna export hub. Earlier, the… Continue reading Andaman and Nicobar Islands to become Tuna Export Hub

Source: This post on Key Findings on the Nutritional Impact of Debranning Millets has been created based on the article “Removing bran on millets reduces the benefits of eating them: study” published in The Hindu on 8th November 2024. Why in news? A recent study highlights that debranning (removing the bran) from millets decreases their… Continue reading Key Findings on the Nutritional Impact of Debranning Millets

Source: This post on Reasons for Advancing CPI Inflation and IIP Data Release Timings and Potential Challenges has been created based on the article “Why have timings for release of CPI inflation and IIP data been advanced, and the likely problems with this change” published in Indian Express on 8th November 2024. Why in news?… Continue reading Reasons for Advancing CPI Inflation and IIP Data Release Timings and Potential Challenges

Source: This post on Dedicated Freight Corridors (DFCs) has been created based on the article “On the growth track: How Dedicated Freight Corridors are adding to GDP, boosting Rail revenues” published in The Hindu on 6th November 2024. Why in news? Recently, a study by Australia’s University of New South Wales states that Dedicated Freight… Continue reading Dedicated Freight Corridors (DFCs)

Source: This post on  RBI’s Major Move: Repatriation of 100 Tonnes of Gold to India has been created based on the article “Explained : Why RBI moved 100 tonnes of gold from the UK to domestic vaults” published in Economic Times on 4th November 2024. Why in news? The Reserve Bank of India (RBI) recently… Continue reading RBI’s Major Move: Repatriation of 100 Tonnes of Gold to India

Source: This post on Livestock Census and its purpose has been created based on the article “What is the livestock census and why is it conducted?” published in Indian Express on 28th October 2024. Why in news? Recently, Union Minister of Fisheries, Animal Husbandry, and Dairying launched the 21st Livestock Census in New Delhi. About the… Continue reading Livestock Census and its purpose

Source: This post on Venture Capital Fund has been created based on the article “Union Cabinet approves establishment of Rs.1,000 crore Venture Capital Fund for Space Sector under aegis of IN-SPACe” published in PIB on 24th October 2024. Why in news? The Union Cabinet has approved the establishment of a Rs. 1,000 crore Venture Capital Fund… Continue reading Venture Capital Fund

Source: This post on FAO report on impact of climate change on farmers has been created based on the article “Secretary (DEPwD) inaugurates “Climate change impact harsher on poorer farmers in India: FAO report “ published in The Hindu on 17th October 2024. Why in news? The United Nations Food and Agriculture Organization (FAO) reported recently… Continue reading FAO report on impact of climate change on farmers

Source: The post on National Maritime Heritage Complex (NMHC) is based on the article “Cabinet approves development of National Maritime Heritage Complex (NMHC), Lothal, Gujarat” published in “The Hindu” on 10th October 2024. Why in the News? The Union Cabinet has approved the development of the National Maritime Heritage Complex (NMHC) in Lothal, Gujarat. The project will be executed… Continue reading National Maritime Heritage Complex (NMHC)

Source: This post on MeitY Eases AI Compute Procurement Norms to Aid Start-ups has been created based on the article “To accommodate start-ups, MeitY relaxes AI compute procurement norms” published in Indian Express on 9th October 2024. Why in news? The Ministry of Electronics and Information Technology (MeitY) has made adjustments to its AI compute procurement norms… Continue reading MeitY Eases AI Compute Procurement Norms to Aid Start-ups