ECONOMY

GS 3 – ECONOMY Context: APEDA, in partnership with AgroStar and Kay Bee Exports, successfully carried out India’s first-ever commercial trial shipment of premium pomegranate varieties—Sangola and Bhagwa—to Australia via sea. Pomegranate Varieties in Focus: Overview: Sangola and Bhagwa are high-quality pomegranate varieties valued for their sweetness, deep red arils, …

GS 3 – ECONOMY A Sovereign Green Bond (SGrB) is a debt instrument issued by the government to raise capital for projects that promote environmental sustainability. These bonds are part of India’s commitment to green finance and climate action. Features Sovereign Green Bonds are government-issued bonds where the proceeds are …

GS 3 – Economy In his address at Bharat Tex 2025 in New Delhi, the Prime Minister stated that the Rs. 9 lakh crore target can be reached earlier through the vision of the “Five Fs” — farm, fiber, fabric, fashion, and foreign. Bharat Tex 2025 is the premier event …

GS 3 – ECONOMY The Securities and Exchange Board of India (SEBI) has launched the Mutual Fund Investment Tracing and Retrieval Assistant (MITRA) platform to help investors locate and recover inactive or unclaimed mutual fund folios. Objectives of MITRA Enables investors to search for forgotten mutual fund holdings. Assists in …

GS 3 – ECONOMY The National Investment and Infrastructure Fund (NIIF), a government-backed initiative, plans to raise a $2 billion private credit fund—the largest of its kind in India. Discussions are ongoing with sovereign investors to secure participation. NIIF Overview Established in 2015, NIIF mobilizes long-term capital for infrastructure projects. …

GS3 ECONOMICS:  The Market Intervention Scheme (MIS) is part of the PM-AASHA initiative, designed to support farmers by stabilizing prices for perishable agricultural commodities during price fluctuations. Key Features Protects farmers from distress sales, especially during bumper crop seasons. Focuses on perishable commodities like tomatoes, onions, and potatoes. Activated when …

GS III: Economy  The Reserve Bank of India (RBI) has reduced the repo rate by 25 basis points to 6.25%, the first cut in nearly five years, to boost economic growth by making borrowing cheaper. What is the Repo Rate? The repo rate is the interest rate at which RBI …

GS 3 – ECONOMY Context: The Reserve Bank of India (RBI) has recently strengthened regulations regarding monetary penalties and compounding of offences under the Payment and Settlement Systems Act, 2007 (PSS Act) to enhance compliance. What is the PSS Act? The Payment and Settlement Systems Act, 2007 (PSS Act) is …

GS 3 – ECONOMY The effectiveness of the Insolvency and Bankruptcy Code (IBC), a key mechanism for resolving distressed debts in India, is waning. Case admissions to the National Company Law Tribunal (NCLT) hit a six-year low in 2023-24, and recovery rates for banks have sharply declined, raising concerns about …

GS 3 – ECONOMY The Unified Pension Scheme (UPS), officially notified on January 24, 2025, introduces a revamped retirement benefits framework for government employees. Designed to replace the National Pension System (NPS) for post-2004 entrants, the UPS guarantees assured retirement payouts, addressing long-standing concerns about the lack of pension security. …

GS 3 – ECONOMY India’s foreign exchange (forex) reserves fell by $1.88 billion to $623.983 billion as of January 17, 2025, following a sharper decline of $8.714 billion the previous week. The Reserve Bank of India (RBI) cites market interventions and asset valuation changes as reasons for the drop. About …

GS 3 – ECONOMY Context: Launched by the Ministry of Commerce, the DIA Scheme aims to enhance India’s diamond exports, mitigate job losses, and improve global competitiveness. Key Features: Duty-Free Import: For diamonds under ¼ carat. Export Obligation: Requires 10% value addition on exported diamonds. Eligibility: Exporters with Two Star …

GS 3 – ECONOMY Context: The National Turmeric Board was inaugurated in Nizamabad, Telangana, to improve turmeric farming, research, and exports in India, fulfilling a long-standing demand. Turmeric – A herb used for medicinal and culinary purposes, containing curcumin, known for anti-inflammatory and antioxidant properties. Uses of Turmeric: Culinary: Adds …

GS 3 – ECONOMY Context: The Union Cabinet has approved the establishment of the 8th Pay Commission to review and revise the salary structure, allowances, and retirement benefits of central government employees and pensioners. Pay Commission Appointment: Constituted by the central government to evaluate salaries, allowances, and pensions based on …

GS 3 ECONOMY Definition Meme coins are digital currencies created as a humorous or satirical tribute to internet culture. They are also referred to as memetic tokens or community coins. Features Inspiration and Branding: Named and branded based on internet memes, jokes, or cultural phenomena. Designed for virality with quirky …

GS 3 – Economy Context: The Remission of Duties and Taxes on Exported Products (RoDTEP) scheme, which provided crucial support to exporters operating under advance authorization, export-oriented units, and special economic zones schemes, expired on December 31, 2024. With no clear indication of an extension, exporters now face heightened uncertainty. …

GS3 – ECONOMICS The Government of India has launched Baanknet, a revamped e-auction portal to streamline the auction of properties by public sector banks (PSBs). This platform aims to enhance transparency, simplify processes, and boost investor confidence in the real estate market. Key Features of Baanknet Integrated Platform: Combines pre-auction, …

GS3 – ECONOMICS The Directorate General of Foreign Trade (DGFT) has amended the Foreign Trade Policy (FTP) 2023 to strengthen stakeholder engagement and improve the Ease of Doing Business (EoDB). These changes aim to make trade policy formulation more inclusive and adaptive, reflecting the government’s long-term vision for sustainable trade …

GS 3 – Economy The LEADS 2024 report, released by the Union Minister of Commerce & Industry, is the 6th edition of the series aimed at evaluating the logistics performance across Indian states and Union Territories (UTs). It was conceived by the Department for Promotion of Industry and Internal Trade …

GS 3 – Economy The Tobacco Board of India has been actively engaged in strategic initiatives aimed at ensuring the sustainability and growth of the tobacco industry in India. About Tobacco Board of India: Established: 1st January 1976, under the Tobacco Board Act, 1975 (Act 4 of 1975). Leadership: The …