Odisha Celebrates Raja Agricultural Festival Odisha, a state in eastern India, recently celebrated the Raja Agricultural Festival with great enthusiasm and fervor. This festival holds significant cultural and agricultural importance in the region, marking the beginning of the agricultural season. Let’s delve into the details of this vibrant festival and understand its significance. During the…
India’s IIP Growth Falls to 5-Month Low of 1.1% in March on Poor Manufacturing Performance India’s industrial output growth fell to a five-month low of 1.1% in March, mainly due to poor performance in the manufacturing sector, according to data released by the government on Friday. The factory output, as measured by the Index of…
Russia’s Dilemma: Large Amounts of Indian Rupees That It Can’t Use Russia has recently disclosed that it holds a significant amount of Indian rupees, but it is facing difficulty in using them. The problem has arisen because of the Reserve Bank of India’s stringent regulations, which prohibit foreign entities from using rupees for transactions within…
RBI Keeps Repo Rate Unchanged at 6.5%: Here’s What It Means for Govt Exam Aspirants The Reserve Bank of India (RBI) has decided to keep the repo rate unchanged at 6.5%. This was announced by RBI Governor Shaktikanta Das on April 6, 2023. The repo rate is the rate at which the central bank lends…
OPEC oil production : OPEC members announce cut in oil production exceeding one million barrels per day from next month In a major development, the members of the Organization of the Petroleum Exporting Countries (OPEC) have announced a cut in oil production exceeding one million barrels per day from next month. This decision was taken…
India fiscal deficit : India’s April-February Fiscal Deficit at Rs 14.54 Lakh Crore: 83% of FY23 Target India’s fiscal deficit for the first eleven months of the fiscal year 2022-23 was Rs 14.54 lakh crore, which is equivalent to 83% of the target for the entire fiscal year, according to the data released by the…
Current Account Deficit Narrows to 2.2% of GDP in Q3 The current account deficit (CAD) of India has narrowed down to 2.2% of GDP in the third quarter of the fiscal year 2020-21, as per the data released by the Reserve Bank of India (RBI). This is a significant improvement from the previous quarter, where…
Women aged between 15-29 years spend almost five hours more than men doing unpaid labour A new report by the National Statistical Office (NSO) shows that young women in India, aged between 15-29 years, spend almost five hours more than men in doing unpaid labour, including cooking, cleaning, and caring for family members. The report…
A) IMF support package for Ukraine : IMF approves $15.6 billion support package for Ukraine The International Monetary Fund (IMF) has approved a $15.6 billion support package for Ukraine to help the country cope with economic challenges caused by the COVID-19 pandemic. This three-year Extended Fund Facility (EFF) will enable Ukraine to continue implementing its…
India economic growth forecast FY24 : S&P keeps India’s economic growth forecast unchanged at 6% in FY24 Credit rating agency S&P Global Ratings has maintained its economic growth forecast for India at 6% for the fiscal year 2023-24 (FY24). The agency’s projection is in line with the Indian government’s estimate of 6-7% growth in the…
