Economic initiative schemes and projects

NPS Vatsalya launched by Nirmala Sitaraman under a pension for minors scheme at New Delhi part of
Union budget, applied to all my citizens below 18 extension of NPS but focuses on children
Ashtalakshmi Mahotsav launched by Union Minister for communication and development of North
Eastern region Jyoti Aditya Sindhiya festival draws inspiration from 8 North in Eastern states representing
prosperity- Ashtalakshmi
Pradhan Mantri gram Sadhak Yojana IV - launched during the financial year 2024 to 2025, financial
assistance for construction of 62500 KM Road for providing connectivity to 25000 unconnected habitation
with total outlay of 70,125 crore rupees
PM E-waste of payment security mechanism scheme- launched by union ministry of heavy industries and
steel HD Kumaraswamy. Operation of e buses by public transport authorities with the outlay of rupees 3435
crore this is same will support operation of e buses for. Of up to 12 years and provide 38000. The Union
Cabinet approve pm drive scheme for promotion of electric mobility in our country
5 successful years of Pradhan Mantri Kisan Vandhan Yojana- launched on September 2019 providing
social security to all land holding small and marginal formers it is a old pension scheme. Small and marginal
formers between 18 and 40 years need to contribute 55 to 200 rupees per month until they turn 60 total 23
farmers registrations with Bihar leading with over 3.4 lakh registrations Uttar Pradesh has 2. lakh
registrations.
Poshaan Maah 2024—The Ministry of Women and Child Development launched in district Thar of
Madhya Pradesh along with a nationwide plantation drive. Ek paid Maa Ke Naam provides anaemia
growth monitoring and complementary feeding for better childhood and mother care.
Tata Group launch 27000 crore semiconductor facility in Assam.
Unified pension scheme- launched by Centre Government in 2024 Government employees can convert and
PS2 UPS and this decision cannot be reversed Maharashtra is the first state to implement UPS.
Green tub transition program boosts greening in India—The Union Minister of Port Shipping and
Waterways announced this scheme to make conventional fuel-based Harbour tox greener and more efficient.
It is an initiative under Pancha Karma Sankalp.
CCEA approves 8 National high-speed corridor projects—The Cabinet Committee on Economic Affairs,
chaired by the Prime Minister, approved 8 new National high-speed corridors:
State of World Fisheries and Aquaculture 2024- launched by FAO key highlights - region wise production
Asia 70% country wise production China 36% India 8% Indonesia 7%. Employment generation 61.8
million. Top exporter of aquatic animal product China Norway. Importer of aquatic animal products USA
China Japan and Spain first in inland fisheries production with 1.9 million
RBI launches the G-SAT app Parvaah portal- secure and satellites web-based portal that aims to age the
process of seeking authorization licence or regulatory approvals for individual or entity.
CDP- Suraksha- to facilitate disbursement of subsidies to horticulture. It is a digital platform its feature is
database integration with pm Kisan and other server space like NIC UID and e rupee integration local
government directly Geo-tagging and Geo fencing.
Bharat Tex 2024- a unified form of fashion focus conducted in Bharat Mandapam New Delhi based on
Prime Ministers F5 vision- farm to fibre to the factory to fashion, fashion to foreign. It is a four-year UN
environment project program that targets to accelerate the transition of Indian textile sector towards
circularity.
Atal Sethu- Atal Bihari Vajpayee Sawari- Nhava Seva Atal Setu world at the cost of more than 17840 crores
in Navi Mumbai. 21.8 km long 6 Lane Bridge. It is the longest bridge in India and the longest sea bridge in
India. Foundation by PM in December 2016.
Pradhan Mantri Suryodaya Yojana- 1 crore household will get rooftop solar energy. People are entitled to
300 units of free electricity every month it will promote Entrepreneurship and employment opportunities in
rural areas total solar capacity of country 73.3 gigawatt.
National program on Anganwadi-cum-creche (Palna)- launched April 2022 under mission Shakti. To
meet the demand of quality child care facility and enable women to actively participate in work force. About
Palna scheme- Ministry of women in child development has launched umbrella scheme mission Shakti for
safety security in government during 15th Finance Commission. 2021-22 to 2025-26.
MSME ministry launched three sub scheme under Ramp program- first scheme MSME green
investment and Finance for transformation scheme which intend to adopt green technology with interest
some wealth credit guarantee support. The second scheme for promotion and investment in circular
economy which tends to credit subsidy towards zero emissions by 2070. Third scheme- MSc scheme on
online dispute resolution for delete payments with synergize legal support with modern it tools and AI to
address the incidence of payments for micro and small Enterprises.
11th edition of international tourism Mart- by Ministry of Tourism take holders to interact with
counterparts held in Shillong. Organised in one of the north eastern states on rotatory basis. Green event by
adopting low carbon options no use of single use plastic. Implementation of Miss Vishal life.
National Turmeric Board- India is the largest producer-consumer and exporter of turmeric in the world.
Grown over 20 States largest producing States or Maharashtra Telangana Karnataka and Tamil Nadu.
Yashobhumi- India International Convection and exposition inter called yashobhumi at Dwarka New Delhi
among the world's largest meeting incentive conference and exhibition facilities inaugurated by Prime
Minister.
Financial and monetary affairs
PLFS annual report 2022-2023 - National Sample Survey office Ministry of statistics and program
implementation released annual report. Key findings- labour force participation rate- age 15 and above was
60.1%. Male and female was 78.8% and 41.7% respectively. Worker population ratio- person of age 15
years and above was 58.2% during July 2023 to June 2024. Male and female was 76.3% and 40.3%
respectively. Unemployment rate- 3.2% for male and female of age 15 years and above.
Cabinet approves minimum support price for kharif crops- MSP for paddy rs 2300 per quintal.
Approved by cabinet committee on economic affairs(CCEA). Highest absolute increase for Niger seeds(Rs
8717). Wheat- 2275.
India export performance in 2023-24- Ministry of Commerce and industry experience positive export
growth 115 out of 228 countries. Market gain in USA UAE China and UK. Merchandise export slide decline
of 3%. Service exports search to $341.1 billion. India share in global export market marginally increased to
1.82% rank improving from 19th to 17th. Market followed by significant increase in China and Singapore.
India stock trading partner for export USA UK Saudi Arabia and China. For imports China, Russia, UAE,
USA and Russia. There is a decline in petroleum products, Gems, and Jewellery Exports.
Statistical report on agriculture and allied sector- by NSO Ministry of statistics and program
implementation. Agriculture and allied sector accounted for 18.2% of GBA at current prices in 2022-23.
Uttar Pradesh record at the highest output of cereial. West Bengal has reported the highest output in fruits
and vegetables. Uttar Pradesh exhibits highest value of output in sugarcane 54.5%. Gram and arhar nearly
59% output. Madhya Pradesh recorded highest output and pulses 22%. Groundnut rapeseed and mustard
have a counted for highest output nearly 54% in the group. Livestock sector increases to 875.5 thousand
crore. Fishing and aquaculture Rose to 195 thousand crore.
Provisional estimate of annual GDP for 2023-24- real GTP estimated to grow by 8.2% in the financial
year 2023-24. Nominal GDP is witnessed a growth of 9.6% in financial year 2023-24. Real GVA has grown
by 7.2%. The GVA growth has been mainly due to significant growth of 9.9% in the manufacturing sector.
Real GDP to attend Rs 173.82 lakh crore with growth rate of 8.2%.
RBI MPC meeting 2024- repo rate 6.5%, SDF rate 6.25%, MSF rate 6.75%, bank rate 6.75%, reverse repo
rate 3.35 percent
Basic animal husbandry statistics 2023- Ministry of fisheries animal husbandry during Government of
India released it. Milk production- 230. 58 58 million terms. India is the world largest milk producer
increased by 3.83%. Top 5 milk producing states are- Uttar Pradesh 15.72%, Rajasthan 14.44%, Madhya
Pradesh 8.73%, Gujarat 7.49% Andhra Pradesh 6.70%.
India ranks 3rd in terms of world total and production. Increased by 6.77%. Andhra Pradesh 20.3%
Tamilnadu 15.58% Telangana 12.77%.
India ranks in world in terms of total need production. 9.77 million tons. Uttar Pradesh 12.2%, West Bengal
11.93%, Maharashtra 11.50%.
Total pool production 33.61 million kg increased by 2.12%. Rajasthan 47.98%, Jammu Kashmir 22.55%
Gujarat 6.1%
Final estimates of major agriculture crops- Ministry of Agriculture and farmer welfare food grains
production in country estimated at record of 3322.98 lakh million ton. Food green products witnessed record
increase due to good production of rice wheat and shree Anna. Rice- 1378 lmt, wheat- 1132 lmt.
Third advance estimates of horticulture crops- Department of Agriculture and farmer welfare, 353.19
million ton decrease to ab 0.65%. Increase in production of fruits Honey flowers plantation crops spices and
aromatic and medicinal plants. Production of fruits expected to increase by 2.29%. Production of onion
242.44 lakh ton. potato production 570.49 lakh ton.
Nobel Prize in Economics- Daron Acemoglu, Simon Johnson and James A. Robinson, effects of
colonialism on quality of Institutions.
Reports and indices
- [ ] Economic case for investment in well-being of adolescents in India- Ministry of health and family
welfare. India has the largest adolescent’s population 253 million. Mortality rate fell by more than half and
fertility rate declined by 83%. Young people coming secondary school, 50%. 22.7% rise in road accidents
for youngsters. Child marriage declined over half.
- [ ] RBI is report and currency and finance - India’s digital revolution theme. India ranked first in
biometric based identification, Aadhaar and real time payment volume. India rank second and telecom
subscribers and third in terms of start-up ecosystem. India is leading the global digital revolution. Global
remittance increases to US dollar 857 .3 billion in 2023. India largest recipient of remittance.
- [ ] India’s FDI landscape in 2023-24- foreign direct investment equity inflow in India fell to 5 years low
of USD 44.42 billion. High interest rate in advance economy. India remain the top destination for
Singaporean investments Mauritius as second largest investor, US third.
- [ ] World drug report 2024- 29.2 million in 2022 increase by 20%. Nitazenes a group of highly potent.
Synthetic copied has recently emerged. Women receive less treatment than men.
- [ ] World investment report, 2024-United nation, trade and development UNCTAD, global foreign direct
investment decreased by 2% to &1.3 trillion. India fell seven sports in global FDI ranking to 15 as in flow
declined 43% . Lowest level of net FDI $28.163 billion.
- [ ] State of world population-UN population fund. India leads globally in population size estimated at
1.44 billion. Followed by China at 1.42 billion. India’s population projected to double in 77 years with 68%
of population belonging to age group of 15 to 64 years, 26% and 10 to 24 years group. Total fertility rate 2.0
birth per woman, life expectancy, 71 years for men and 74 years for women. Janani Suraksha Yojana and
surrogacy amendment rules 2024 to improve sexual and reproductive health. Child marriage rates were
reported 23% between 2006 to 2023. Globally, Bing declaration and international conference on population
and development program in Cairo, Egypt, significant and promoting sexual and reproductive health right.
- [ ] Time magazine, global 100 most influential companies-reliance and Tata group were Titan categories,
serum Institute of India was pioneer category. RIL is the only Indian company have been included twice in
elite list describing it as Indian juggernaut
- [ ] Hurun global unicorn index- it includes only valuation of at least USD 1 billion are not listed in any
stock exchange. India ranked a 3rd position for 67 unicorn, USA ranked first with 703 unicorns, and China
ranked at second with 340 unicorns.
- [ ] Global trade overview, 2023 and 2024, Outlook-global trade contracted by 3% amounting to $32
trillion. Trade declined 5% service sector fitness 8% year on year growth. Trade performance of India
merchandise export group by 5% economy fitness 6% contraction service sector grow notably with 14%.
- [ ] Household consumption expenditure survey 2022-23-Ministry of statistics and programme
implementation, urban household, MPCE(monthly per capita expenditure) increased by 33.5% RS3510
while rural India was 40.42% increase RS 2008. Top 5% of India’s rural and urban population average
MPCE RS 10,501 and RS 20,824 respectively, state wise Sikkim has highest MPCE in both rural and urban
areas while Chhattisgarh has the lowest. Rural urban difference is highest in Meghalaya, 83% followed by
Chhattisgarh 82%. Union territory-Chandigarh has highest MPCE while Ladakh and Lakshadweep has the
lowest
- [ ] First Delta ranking of ABP-published by Niti Aayog. Tiriyani block of Kumuram Bheem Asifabad,
Telangana secured 1st position of aspiration blocks programme. Second position by Kosambi block of
Kosambi district, UP.
- [ ] Migration and development, 340 released by World Bank, low and middle income countries grew by
0.7%. Highest remittance by India followed by Mexico, China, Philippines, and Pakistan.
- [ ] Index of economic freedom, 2024-the Heritage foundation publishers. India is ranked at 126 position.
Singapore first rank
- [ ] Fortune global 500 to Indian companies, reliance and LIC. Walmart at first, followed by Amazon.
- [ ] World economic Outlook update released by IMF global economy to grow 3.2% during 2024 India
economy to grow 7.0% in 2024.
Miscellaneous
- [ ] DIGI yatra facility for nine airports-launched at Visakhapatnam for Coimbatore, Dabolim, Indore,
Bagdogra, Ranchi, Patna, Raipur, Bhubaneswar,
- [ ] IPEF elected India as wise chair of supply chain council. Indo Pacific economic framework has 14
members. USA has been elected a chair of supply chain council.
- [ ] UK India’s fourth largest export market. India stop export destination, USUAE, Netherlands. India’s
top three import destinations China, Russia, UAE,
- [ ] India’s largest trading partner in FY24-India export to China rose by an impressive 8.7%. Netherland
is India’s third largest export market with growth of 44%.
- [ ] World poverty clock-$2.15 to define extreme poverty. 3.44,00,00,000 of population living in extreme
poverty developed by world data lab. Multidimensional poverty in India 11.28%.
- [ ] Vizhinjam Port: India’s first transshipment Port in Kerala of Adani group. World world biggest
transshipment ports-Singapore, Shanghai, Busan, Hong Kong.
- [ ] India sign free trade agreement with European free trade Association(EFTA) it will provide 1
million direct jobs and $100 billion investment. It is an organisation of Iceland Liechtenstein Norway,
Switzerland.
- [ ] India overtake Hong Kong to become fourth largest stock market with USD4.3 3 trillion. Top three
stock markets are US, China and Japan.
- [ ] Skytrax world airport award- Hamad International airport, Doha and Tokyo HoniDa airport as world
cleanest airport. Indira Gandhi International Airport at 36th rank.
News in Shorts
- 54th GST council meeting-chairperson Nirmala SitaRaman. GST rate on Cancer drug reduced to 5%.
- Four new Navratan Central Public sector Enterprises, including rail tail Corporation of India sold energy
Corporation of India, Satluj, Jal Vidyut Nigam and national hydroelectric power Corporation.Total number
25
- [ ] National payment Corporation of India launched UPI Circle,
- [ ] Women owned 36.4% of two .52 billion individual accounts 25% of bank employees are women.
- [ ] She box portal launched for registering sexual harassment of women in New Delhi,
- [ ] Telecommunication act 20 23,62, section and 3 schedules in line of PM Gati Shakti vision,
- [ ] India third largest domestic airline market with 15,.5 million seats.
- [ ] India’s first national Highway steel slag Road on NH 66 Mumbai, Goa national Highway,
- [ ] 14th bricks trade minister meeting in Russian Federation,
- [ ] India’s 1st H125 helicopter by 2026. India allowed foreign institutional investors to invest in green
bonds.
- [ ] Shri Piyush Goyal flagged of hundred mobile vans for sale of wheat under Bharat Brand MRP not
exceeding RS 27.50 per KG.
- [ ] Lal Bahadur Shastri International Airport, Varanasi approved
- [ ] India to become largest E commerce market by 2030 with growth rate of 22%.
- [ ] IREDA Indian renewable energy development agency granted Navrattan status.
- [ ] Bajaj auto launched world first CNG motorcycle Namo drone Didi scheme for providing drones to
women’s self help groups.
- [ ] First European nation to accept UPI France,
- [ ] 16th finance commission under chairmanship of Dr Aravind Panagariya, former wise chairman of Niti
Aayog, recommendation by 31 October 2025.