US inflation showed signs of accelerating for the 2nd consecutive month in November 2024, with a sharp increase in consumer prices. The Consumer Price Index (CPI) rose by 2.7% year-on-year, slightly up from 2.6% in October. This marked the steepest inflation increase in the last 7 months, driven primarily by rising food prices and other …
Sanjay Malhotra, the current Revenue Secretary, has been appointed as the new Governor of the Reserve Bank of India (RBI) by the central government. He will succeed Shaktikanta Das, whose tenure is set to conclude on December 10, 2024. Malhotra will assume office as the 26th governor of India’s central bank. Term and Transition Details …
On December 6, the Reserve Bank of India (RBI) revised its GDP growth forecast for FY 2025 to 6.6%, down from the earlier estimate of 7.2%. The central bank also lowered its growth projections for the 3rd and 4th quarters of FY 2025, estimating 6.8% for Q3 (previously 7.4%) and 7.2% for Q4 (previously 7.4%). …
India’s journey toward global trade leadership is a narrative of growth, innovation, and strategic excellence. Over the years, the country has made significant progress across diverse export sectors, leveraging advanced manufacturing, technology, and robust policy support to meet global demands. By enhancing its export portfolio and reinforcing its reputation as a reliable supplier, India is …
India’s coal industry has recorded a remarkable milestone in 2024, reflecting significant growth in production and dispatch from captive and commercial mines. This surge aligns with the government’s commitment to bolstering domestic energy capabilities, fostering economic self-reliance, and reducing dependency on imports. Record Coal Production: April to November 2024 Between April 1 and November 30, …
The Government of India and the Asian Development Bank (ADB) have signed a $50 million loan agreement to improve water security in Meghalaya. This initiative focuses on building climate-resilient water-harvesting systems, for better access to water, and reducing the vulnerability of communities to climate change. What’s in the Plan? The project will see the construction …
The Indian Ministry of Finance has imposed provisional anti-dumping duties on imports of solar glass from China and Vietnam. It is effective from December 4, 2024, majorly aiming at protecting the domestic industry from the impact of cheaper imports, which have caused pricing pressure and material injury to local producers. What is Covered Under the …
The PM Surya Ghar: Muft Bijli Yojana, launched by Prime Minister Narendra Modi on February 15, 2024, is the world’s largest domestic rooftop solar initiative. This visionary program aims to provide solar power to 1 crore households by March 2027, making renewable energy accessible and affordable for millions. Key Highlights of the Scheme Subsidised Solar …
The National Highways Authority of India (NHAI) has announced that its fully owned Special Purpose Vehicle (SPV), DME Development Limited (DMEDL), will issue green bonds. The funds raised will be allocated to implementing eco-friendly initiatives for the Delhi-Mumbai Expressway project. Green Bond Issue Details DMEDL is set to issue green bonds under a closed bidding …
On December 6, 2024, the RBI (Reserve Bank of India) reduced the Cash Reserve Ratio (CRR) by 50 basis points (bps), bringing it down to 4% from 4.5%. This decision aims to inject ₹1.16 lakh crore into the banking system, helping address liquidity concerns after significant foreign exchange interventions. What is CRR, and Why Does …
