Indian Economy Current Affairs for UPSC IAS Prelims 2024 Examination

Source- This post on the Saffron crop has been created based on the article “Losing spice: Kashmir’s prized saffron crop hit by dry spells” published in “Business Line” on 31 July 2024. Why in the news? Due to erratic weather, many farmers in Kashmir are shifting from growing saffron to cultivating apple orchards or mustard… Continue reading Saffron Crop

Source- This post on the Indexation has been created based on the article “What is indexation in calculating LTCG tax? Does the removal of indexation benefit in the Budget mean you will pay more tax?” published in “Indian Express” on 29 July 2024. Why in the news? The withdrawal of the indexation benefit in the… Continue reading Indexation

Source- This post on the Government clarifies that not all require tax clearance certificate to Go Abroad has been created based on the article “Not all require tax clearance certificate to go abroad: govt” published in “The Hindu” on 29 July 2024. Why in the news? The government clarified a Union Budget proposal that sparked… Continue reading Government clarifies that not all require tax clearance certificate to Go Abroad

Source- This post on the RBI Releases New PCA Framework for Urban Cooperative Banks has been created based on the article “Reserve Bank of India releases PCA framework for urban cooperative banks” published in “Business Standard” on 27 July 2024. Why in the news? The Reserve Bank of India (RBI) has introduced a new Prompt… Continue reading RBI Releases New PCA Framework for Urban Cooperative Banks

Source- This post on the Angel Tax has been created based on the article “ANGEL TAX’ ABOLISHED FOR ALL CLASSES OF INVESTORS” published in “PIB” on 25 July 2024. Why in the news? Recently, the Union Minister for Finance proposed to abolish the ‘angel tax’ for all classes of investors while presenting the Union Budget… Continue reading Angel Tax

Source- This post on the Tax simplification measures for settling direct tax disputes has been created based on the article “Govt decriminalises late payment of TDS, to reduce litigation with Vivad se Vishwas scheme” published in “Indian Express” on 24 July 2024. Why in the news? The Union Budget proposes several tax simplification measures, including… Continue reading Tax simplification measures for settling direct tax disputes

Source- This post on the Establishment of e-commerce export hubs has been created based on the article “Govt looks to boost e-commerce exports, will set up PPP hubs along lines of Southeast Asian countries” published in “Indian Express” on 24 July 2024. Why in the news? Finance Minister Nirmala Sitharaman announced the establishment of e-commerce… Continue reading Establishment of e-commerce export hubs

Source- This post on “Government Takes Major Step Towards Digitising Agriculture” has been created based on the article “Govt takes a big leap towards digitising agriculture” published in “The Indian express” on 24th July, 2024. Why in news? Recently, Union Finance Minister Nirmala Sitharaman announced the rollout of Digital Public Infrastructure (DPI) for the agricultural sector.… Continue reading Government Takes Major Step Towards Digitising Agriculture

Source- This post on the Credit Guarantee Scheme for MSMEs has been created based on the article “Budget’s big MSME push: New credit rating mechanism for smaller units; Mudra loan limit hiked” published in “Indian Express” on 24 July 2024. Why in the news? Finance Minister Nirmala Sitharaman recently unveiled several key measures aimed at boosting… Continue reading Credit Guarantee Scheme for MSMEs

Source- This post on the Upper Karnali Hydro-Electric Power Project has been created based on the article “IREDA to invest ₹290 crore in Nepal’s 900 MW hydroelectric project” published in “Economic Times” on 23 July 2024. Why in the news? The Indian Renewable Energy Development Agency Limited (IREDA) is investing approximately ₹290 crore in the… Continue reading Upper Karnali Hydro-Electric Power Project

Source- This post on the Key Highlights of Economic Survey 2023-24 has been created based on the article “Economic Survey 2023-24: Indian economy likely to grow by 6.5% to 7% this year” published in “The Hindu” on 23 July 2024. Why in the news? The recently released Economic Survey projects India’s real GDP growth to… Continue reading Key Highlights of Economic Survey 2023-24

Source- This post on the Economic Survey 2023-24 highlights on Railway Safety and Signalling has been created based on the article “Economic Survey indicates limited progress on safety-related works in railways” published in “The Hindu” on 22 July 2024. Why in the news? The economic Survey 2023-24 highlighted limited progress on Railway Safety Initiatives. Key… Continue reading Economic Survey 2023-24 highlights on Railway Safety and Signalling

Source- This post on the National Bank for Financing Infrastructure and Development (NaBFID) has been created based on the article “National Bank for Financing Infrastructure and Development (NaBFID)” published on “Mint” on 19 July 2024. Why in the news? The government wants to increase the capital base of the National Bank for Financing Infrastructure and Development,… Continue reading National Bank for Financing Infrastructure and Development (NaBFID)

Source- This post on the Increase in India’s foreign currency assets (FCA)  has been created based on the article “Return on foreign currency assets doubles in two years” published in “The Indian Express” on 16 July 2024. Why in the news? The return on India’s foreign currency assets (FCA) has doubled over the past two… Continue reading Increase in India’s foreign currency assets (FCA)

Source- This post on the Updated rules of RBI on fraud risk management has been created based on the article “RBI revises rules on fraud risk management” published in “The Hindu” on 16 July 2024. Why in the news? The Reserve Bank of India (RBI) has updated its rules on fraud risk management for various… Continue reading RBI updated rules on fraud risk management

Source: The post on “Status of India’s Merchandise and Services Export” has been created, based on the article “Imports continue to outpace growing exports; trade deficit widens by 9.4%” published in “The Hindu” on 16th July 2024 Why in news? The Commerce Ministry has reported that India’s merchandise exports has grown for the third consecutive… Continue reading Status of India’s Merchandise and Services Export 

Source- This post on the Coal Ministry Signs Agreements for Three Coal Mines has been created based on the article “Coal Ministry Signs Agreements for Three Coal Mines” published in “PIB” on 16 July 2024. Why in the news? Recently, the Ministry of Coal has signed agreements for three coal mines under the Second Attempt of… Continue reading Coal Ministry Signs Agreements for Three Coal Mines

Source- This post on the Equity Mutual Funds has been created based on the article “Equity Mutual Funds” published in “Economic Times” on 11 July 2024. Why in the news? The Association of Mutual Funds in India (Amfi) recently reported that inflows into India’s equity mutual funds reached a record high of Rs 40,608 crore… Continue reading Equity Mutual Funds

Source- This post on the ONGC’s Plan to Achieve Net Zero Emissions by 2038 has been created based on the article “ONGC unveils Rs 2 trillion decarbonisation road map for net-zero 2038” published in “Business Standard” on 10 July 2024. Why in the news? State-owned Oil and Natural Gas Corporation (ONGC) will invest around Rs… Continue reading ONGC’s Plan to Achieve Net Zero Emissions by 2038

Source- This post on the Vizhinjam International Port has been created based on the article “Adani Vizhinjam Port to receive first mothership on July 12” published in “Economic Times” on 9 July 2024. Why in the news? The Adani Group’s Vizhinjam Port is now ready to receive its first mothership. About Vizhinjam International Port 1. Location:… Continue reading Vizhinjam International Port

Source- This post on the Digital Bharat Nidhi has been created based on the article “What is Digital Bharat Nidhi, govt’s fresh attempt at improving rural telecom connectivity?” published in “The Hindu” on 6 July 2024. Why in the news? The Department of Telecommunications (DoT) released draft rules for the Digital Bharat Nidhi (DBN) on… Continue reading Digital Bharat Nidhi

Source- This post on the SEHER Program has been created based on the article “Women Entrepreneurship Platform and TransUnion CIBIL Partner to Launch SEHER Program to Empower Women Entrepreneurs” published in “PIB” on 6 July 2024. Why in the news? Recently, the Women Entrepreneurship Platform (WEP) and TransUnion CIBIL have launched the SEHER program. About… Continue reading SEHER Program

Source-This post on Money Mule has been created based on the article “Banks scanning proprietor A/Cs to spot ‘money mules” published in “Economic Times” on 5 July 2024. Why in the news? Recently, many major banks have stopped or slowed down the process of opening sole proprietorship and individual current accounts for firms that are less… Continue reading Money Mule

Source-This post on “First Report on Transition Finance” has been created based on the article “Expert Committee on Climate Finance submits First Report on Transition Finance to IFSCA” published in “PIB” on 2 July 2024. Why in the news? The Expert Committee on Climate Finance has submitted its first report on Transition Finance. Transition finance… Continue reading First Report on Transition Finance

Source-This post on Project Nexus of RBI  has been created based on the article “What is Project Nexus that RBI has signed up for?” published in “The Indian Express” on 2 July 2024. Why in the news? Recently, the Reserve Bank of India (RBI) has joined Project Nexus. It is to expand the international reach… Continue reading Project Nexus of RBI