Economy Current Affairs

Union Minister Bhupender Yadav launches Resource Efficiency Circular Economy Industry Coalition in Chennai

Union Minister Bhupender Yadav launches Resource Efficiency Circular Economy Industry Coalition in Chennai: In keeping with India’s G20 presidency, Union Minister Bhupender Yadav launched the Resource Efficiency Circular Economy Industry Coalition (RECEIC) in Chennai. The coalition aims to promote resource efficiency and circular economy practices worldwide, bringing together companies from various sectors and countries. The […]

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Due to the slowdown in the global economy, India’s total exports fell by 13% to $60.09 billion.

Due to the slowdown in the global economy, India’s total exports fell by 13% to $60.09 billion: India’s total exports, including both goods and services, are estimated to be USD 60.09 billion in June 2023, showing a decline of about 13% from June 2022. Exports in June 2022 were USD 69.20 billion. Total imports are

Due to the slowdown in the global economy, India’s total exports fell by 13% to $60.09 billion. Read More »

India’s index of industrial production jumps to 5.2% in May 2023

India’s index of industrial production jumps to 5.2% in May 2023: According to the data released by the Ministry of Statistics and Programme Implementation (MoSPI), the index of industrial production (IIP) in India has increased by 5.2% in May 2023 from 4.2% in April 2023. Daily Current Affairs Quiz: July 2023 In May 2022, the factory output was at all time

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Forex reserves rise by $1.85 billion to $595.05 billion

Forex reserves rise by $1.85 billion to $595.05 billion: According to the RBI, India’s foreign exchange reserves rose by $1.853 billion to $595.051 billion in the week ended on June 30, 2023. The overall reserve had dropped by $2.901 billion to $593.198 billion in the previous reporting week. Daily Current Affairs Quiz: July 2023 In October

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FDI in developing countries stood at $662billion in 2022: UNCTAD

FDI in developing countries stood at $662billion in 2022: UNCTAD– According to UNCTAD’s World Investment Report 2023, FDI in developing countries in Asia remained flat at $662 billion during 2022, as compared to the previous year. Daily Current Affairs Quiz: July 2023 During 2022, FDI inflows to India rose by 10% on an annual basis to $49 billion, while

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India’s External Debt reaches $624.7 billion in End-March 2023

India’s External Debt reaches $624.7 billion in End-March 2023: India’s external debt has increased marginally to $624.7 billion annually in end-March 2023, although the debt-GDP ratio declined. Daily current affairs quiz: July 2023 The external debt increased by $5.6 billion from $619.1 billion at end-March 2022. Valuation gains due to the appreciation of the US dollar compared to the Indian

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S&P Retains India’s Growth Projection at 6% for FY24; Fastest Growing Economy in Asia Pacific

S&P Global Ratings, a renowned credit rating firm, has kept India’s GDP growth forecast at 6% for fiscal year 2023-2024. This forecast positions India as the fastest growing economy among the Asia Pacific nations. The rating agency’s decision to maintain the growth outlook is based on the country’s domestic resilience. India, Vietnam, and the Philippines

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Wholesale inflation continues downtrend, moderates to 1.34% in March

Wholesale inflation continues downtrend, moderates to 1.34% in March: In March 2023, India’s wholesale-price-based inflation reduced as input costs continued to decline. According to data given by the government on Monday, April 17, 2023. The annual wholesale price inflation (WPI) was recorded at 1.34% year-on-year, which is a significant decrease from the previous month’s reading

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Gold Imports Dip 30% To $31.8 Billion in April–February 2023

Gold Imports Dip 30% To $31.8 Billion in April–February 2023: India’s gold imports have declined by about 30% to $31.8 billion during April-February 2023, compared to the same period in the previous year, according to data from the country’s commerce ministry. The decline in gold imports is attributed to several factors, including high customs duty

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IMF cuts India’s FY24 GDP forecast to 5.9%

IMF cuts India’s FY24 GDP forecast to 5.9%: The International Monetary Fund (IMF) has lowered India’s GDP growth forecast for fiscal year 2023-24 by 20 basis points to 5.9 percent. This latest forecast is slightly below the Reserve Bank of India’s projection of 6.4 percent. Despite the downward revision, India is still projected to be

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