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India Plans Retaliatory Tariffs on U.S. Imports Why in the News ? India has notified the World Trade Organization (WTO) of its plan to impose retaliatory tariffs on $7.6 billion worth of U.S. imports. This move comes in response to the U.S. imposing 25% duties on steel and aluminium imports. Background of the Tariff Dispute …
Read MoreRBI Increases Gold Reserves, Repatriates from Abroad Why in the News ? The Reserve Bank of India (RBI) added 57.49 tonnes of gold to its foreign exchange reserves in FY 2025 and repatriated 38.64 tonnes from the Bank of England and BIS, boosting domestic holdings amid rising gold prices. About Growth in RBI’s Gold Reserves …
Read MoreSyllabus: GS-2: Centre-State Relations GS-3: Fiscal Policy , Government Budgeting Focus: Several states have urged the 16th Finance Commission to increase their share of the divisible tax pool, citing concerns over shrinking allocations due to cesses and surcharges. This demand raises critical issues of fiscal autonomy, inter-state inequality, and governance reforms at the state and …
Read MoreIndia Lifts 17 Crore People Out of Poverty Why in the News ? According to the World Bank’s Spring 2025 Poverty and Equity report, India has lifted over 17.1 crore people out of extreme poverty in the past decade, with major contributions from five states and notable improvements in rural and urban poverty rates. Major …
Read MoreGovt Empowers I4C to Combat Money Laundering Why in the News ? The Indian government has authorised the Indian Cyber Crime Coordination Centre (I4C) to share and receive information with the Enforcement Directorate under PMLA. This aims to strengthen efforts in tracing money trails and tackling rising cyberfraud cases. I4C Brought Under PMLA Framework: On …
Read MoreWhy in the News ? The Ministry of Mines has released guidelines to establish Centres of Excellence under the National Critical Mineral Mission, aiming to boost research and technology in critical minerals essential for clean energy, mobility, electronics, defence, and space sectors. Strengthening Critical Mineral Research: The Ministry of Mines has issued fresh guidelines for …
Read MoreWhy in the News ? Union Minister Jitendra Singh praised India’s first indigenous hydrogen-powered sea vessel as a landmark public-private collaboration. The project reflects India’s push for self-reliance in clean energy technology, supported by CSIR’s New Millennium Indian Technology Leadership Initiative (NMITLI). Historic Milestone in Marine Innovation: India unveiled its first indigenously developed hydrogen-powered …
Read MoreWhy in the News ? The 6th India-Uzbekistan joint military exercise ‘DUSTLIK-6’ has begun at Pune’s Foreign Training Node. This annual event strengthens defence ties and focuses on sharing tactics for joint sub-conventional operations. The exercise will continue until April 28, 2025. Participating Forces: The Indian contingent includes 60 personnel from the JAT Regiment and …
Read MoreWhy in the News ? India’s total exports of goods and services grew by 5.5% in FY 2024-25, reaching a historic $820.93 billion despite global uncertainties. Merchandise exports and non-petroleum shipments showed positive trends, though trade deficit widened due to higher imports. Export Growth Overview: India’s total exports (goods & services) grew by 5% in …
Read MoreWhy in the News ? Urban consumers are concerned about stagnant incomes amid rising commodity prices, leading to increased spending. Despite improved job prospects, pessimism persists about the overall economic situation, with many struggling to meet their financial needs. Income Stagnation Amid Rising Job Optimism: A significant share of urban consumers remains optimistic about job …
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