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Why in the news? General insurance companies have reduced their exposure to crop insurance under the Pradhan Mantri Fasal Bima Yojana (PMFBY) in FY24. Gross direct premiums underwritten by insurers declined by 4.17% to Rs 30,677 crore from Rs 32,011 crore in the previous year, despite significant crop losses due to adverse weather conditions. Key …
Read MoreWhy in the news? The Ministry of Statistics and Programme Implementation (MoSPI) released the Annual Survey of Unincorporated Enterprises ( ASUSE) for 2022-23. Uttar Pradesh, West Bengal, and Maharashtra had the highest share of informal sector enterprises in both rural and urban areas source: IE Key Findings of the Survey: The survey highlighted the employment …
Read MoreWhy in the news? Indian corporates mobilized nearly ₹85,000 crore through equity issuances, including IPOs and preferential allotments, in April and May FY25. SME IPOs led the surge, with 44 companies getting listed amidst SEBI concerns over potential price manipulation. source:quora About Initial Public Offering (IPO): Initial Public Offering (IPO) is the process by which …
Read MoreWhy in the news? India’s indigenous defence production reached a record high of Rs 1.27 lakh crore in 2023-24, reflecting a 16.7% growth. Defence Minister Rajnath Singh emphasised the government’s commitment to making India a leading global defence manufacturing hub. source:mod About Defense Acquisition Council (DAC): Purpose: Highest decision-making body in the Defence Ministry for …
Read MoreWhy in the news? Chandrababu Naidu accused YSR Congress leader Jagan Mohan Reddy of leaving Andhra Pradesh in a poor economic state. Met with Prime Minister Modi and six Union Ministers with demands for Andhra Pradesh. Requested short-term financial support and assistance for Polavaram irrigation project. States with Special Category Status (SCS): 11 states: Assam, …
Read MoreWhy in the news? RBI Executive Director Neeraj Nigam highlights the need to increase credit supply to women. Currently, only 7% of the total outstanding MSME loans are to women-led businesses. Nigam spoke at the “Financing Women Collaborative” event organised by Niti Aayog and Transunion Cibil. Female Labour Force Participation: Female labour force participation in …
Read MoreWhy in the news? The prices of vegetarian and non-vegetarian food plates have surged, reaching six and seven-month highs in June, respectively. CRISIL’s food cost tracker highlights significant inflation in key ingredients such as tomato, onion, potato, rice, and pulses, with official food inflation at 8.7% in May. Source: Forbes Key Developments The average cost …
Read MoreWhy in the news? Thazhakara grama panchayat in Kerala’s Alappuzha district has compiled a detailed People’s Biodiversity Register (PBR), highlighting significant changes in local flora and fauna. Key Findings: Thazhakara publishes the second volume of PBR, documenting 38 sacred groves, 10 paddy polders, and 35 ponds. Decline in Indian black turtle and other species due …
Read MoreWhy in the news? Rahul Gandhi alleged discrepancies in compensation received by Agniveer Ajay Kumar’s family compared to regular soldiers. Defence Minister Rajnath Singh countered with details of Agniveer compensation, sparking controversy. Source: PSM Key Differences in Compensation: Financial Assistance: Agniveers’ families receive Rs 1.65 crore, including insurance and ex gratia. Regular soldiers’ compensation varies …
Read MoreWhy in the news? India’s current account showed a surplus in Q4 of 2023-24, marking the first surplus in 11 quarters. Movements in the current account are significant as they affect the rupee’s exchange rate, India’s sovereign ratings, and overall economic health. Source: Textbook What is Balance of Payments? Definition: The Balance of Payments (BoP) …
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