- Indian Heritage
- Culture
- Modern Indian history
- The Freedom Struggle
- Post-independence
- Indian Society
A. population and associated issues
B. poverty and developmental issues
C.urbanization
7. Geographical features
8.Indian Constitution
9. Polity
10. Governance
A. institutions
B. regulatory
C. Government policies
D. role of NGOs
E. measures
11. Social Justice
A. Welfare schemes
B Health
C. Education
D. Human Resources
E. poverty and hunger
12. International relations
A. India and its neighbourhood
B. groupings and agreements
C.Indian diaspora
13. Economic Development
A. Government Budgeting
RBI plays a pivotal role in advancing our nation’s growth trajectory”
Addressing the occasion, the Prime Minister said that the Reserve Bank of India has reached a historic landmark today completing 90 years of existence. He underlined that the RBI has witnessed both the pre and post-independence eras and it has created an identity around the world based on its professionalism and commitment. The Prime Minister congratulated all staff on the completion of 90 years of the RBI. Deeming the present RBI staff as fortunate, the Prime Minister said that the policies drafted today will shape the next decade of RBI and noted that the next 10 years will take RBI to its centenary year. “The next decade is extremely important for the resolutions of a Viksit Bharat”, PM Modi said, highlighting the RBI’s priority towards fast-paced growth and focus on trust and stability. The Prime Minister also conveyed his best wishes for the fulfilment of its goals and resolutions.
Emphasizing the importance of coordination of monetary and fiscal policies in the GDP and the economy of the country, the Prime Minister recalled the 80-year celebration of RBI in 2014 and remembered the challenges and problems like NPA and stability faced by the banking system of the country at that time. He said that starting from there, today we have reached a point where the Indian banking system is being seen as a strong and sustainable banking system of the world as the near moribund banking system of that time is now in profit and showing record credit.
The Prime Minister credited clarity of policy, intentions and decisions for this transformation. “Where intentions are right, results too are correct”, said the Prime Minister. Speaking on the comprehensive nature of reforms, the Prime Minister stated that the government worked on the strategy of recognition, resolution and recapitalization. A capital infusion of 3.5 lakh crore was undertaken for the helping public sector banks along with many governance-related reforms. Just the Insolvency and Bankruptcy Code has resolved loans amounting to 3.25 lakh rupees, the Prime Minister pointed out. He also informed the country that more than 27,000 applications involving underlying defaults of more than Rs 9 lakh crore were resolved even before admission under IBC. Gross NPAs of banks that stood at 11.25 percent in 2018 came down to below 3 percent by September 2023. He said that the problem of twin balance sheets is a problem of the past. PM Modi complimented RBI for their contribution to this transformation.
Prime Minister Modi pointed out that even though the discussions related to the RBI are often limited to financial definitions and complex terminologies, the work carried out at RBI directly makes an impact on the lives of common citizens. In the last 10 years, the Prime Minister said that the government has highlighted the connect between the central banks, banking systems and beneficiaries at the last queue and gave the example of financial inclusion of the poor. He mentioned that 55 percent of the 52 crore Jan Dhan accounts in the country belong to women. He also mentioned the impact of financial inclusion in the agriculture and fisheries sector where more than 7 crore farmers, fishermen and cattle owners have access to PM Kisan Credit Cards providing a significant push to the rural economy. Referring to the boost for the cooperative sector in the past 10 years, the Prime Minister threw light on the importance of regulations of the Reserve Bank of India regarding cooperative banks. He also mentioned more than 1200 crore monthly transactions via UPI making it a globally recognized platform. The Prime Minister also touched upon the work being done on Central Bank Digital Currency and said that the transformations of the past 10 years have enabled the creation of a new banking system, economy and currency experience.
The Prime Minister emphasized the importance of clarity for the targets of the next 10 years. He pointed out the importance of keeping an eye on the changes brought about by the cashless economy while promoting digital transactions. He also stressed the need for deepening financial inclusion and empowerment processes.
Stressing the diverse banking needs of a large country like India, the Prime Minister underlined the need to improve ‘ease of doing banking’ and provide tailor-made services as per the needs of the citizens. He underscored the role of artificial intelligence and machine learning.
He highlighted the role of RBI in speedy and sustainable growth of the country. Noting the achievement of RBI in infusing rule-based discipline and fiscally prudent policies in the banking sector, the Prime Minister also asked for advance estimation of the needs of various sectors to take proactive steps while assuring the banks of government’s support. The Prime Minister also mentioned inflation-controlling measures like giving the right of inflation targeting to the RBI and praised the performance of the Monetary Policy Committee in this regard. Steps like active price monitoring and fiscal consolidation kept inflation at a moderate level even during difficult times of Corona.
“Nobody can stop a country from progressing if its priorities are clear”, the Prime Minister emphasized. He gave the example of the government giving heed to financial prudence and prioritizing the lives of common citizens during the covid pandemic which led to the poor and middle class emerging out of the adversity and giving momentum to the country’s growth today. “The Indian economy is creating new records at a time when many countries in the world are still trying to recover from the economic shock of the pandemic”, the Prime Minister said. He underlined the role of RBI in taking India’s successes to the global level. Highlighting the importance of creating a balance between inflation control and growth for any developing country, PM Modi expressed confidence that RBI can become a model for this and play a leadership role in the world, thereby supporting the entire global south region.
Noting that India is the most youthful nation in the world today, the Prime Minister touched upon RBI playing a critical role in fulfilling the aspirations of the youth. He credited the policies of the government in the opening up of new sectors in the country thereby creating numerous opportunities for the youth of today. He gave the example of the expansion of the green energy sectors and mentioned solar energy, green hydrogen and ethanol blending. He also touched upon indigenously made 5G technology and rising exports in the defence sector. Speaking about MSMEs becoming a backbone of India’s manufacturing sector, the Prime Minister highlighted the implementation of the Credit Guarantee Scheme during the covid pandemic to support MSMEs. He stressed the RBI come up with out-of-the-box policies to ensure credit availability for the youth associated with the new sectors.
B. industrial
Coal Sector Shows Highest Growth of 11.6 % among Eight Core Industries in February 2024
he coal sector has exhibited highest growth of 11.6 % (provisional) among the eight core industries for the month of February 2024 as per the Index of Eight Core Industries (ICI)) (Base Year 2011-12) released by Ministry of Commerce & Industries. The index of coal industry has reached 212.1 points during Feb’24 as compared to 190.1 points during the same period of last year and its cumulative index has increased by 12.1% during April to February, 2023-24 over corresponding period of the previous year.
The ICI measures the combined and individual production performance of eight core industries, viz. cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products, and steel.
The Combined Index of Eight Core Industries experienced 6.7% increase in February 2024, compared to the same period of previous year.
The coal industry has consistently outperformed demonstrating sustained double-digit growth over the past eight months and substantially higher growth than the overall growth of eight core industries in last two financial years.
REC wins SKOCH ESG Award 2024 in Renewable Energy Financing Category
REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading NBFC, has been bestowed with the SKOCH ESG Award 2024 in the ‘Renewable Energy Financing’ category. The award underscores REC’s dedication to sustainable financing, paving the way for a greener future and accelerating the transition to renewable energy. Executive Director, REC Limited, Shri T.S.C. Bosh received the award in New Delhi.
REC has emerged as a significant player in India’s clean energy transition, actively contributing to the nation’s sustainable future. Through various initiatives and achievements, REC has committed to numerous sustainable projects and signed various MOUs for green projects.
Furthermore, REC has engaged in one-on-one discussions with various developers of green projects, spanning sectors such as solar, wind, Pumped Storage Projects, E-mobility, RE manufacturing, green ammonia and green hydrogen, and battery storage.
Looking ahead, REC anticipates a significant expansion in its renewable energy portfolio, with projections indicating growth to 10 times its present value, reaching more than Rs. 3 lakh crores by 2030, representing approximately 30% of its Assets Under Management.
The SKOCH ESG Awards recognize organizations that demonstrate outstanding performance in Environmental, Social, and Governance (ESG) practices. The SKOCH ESG Award and Assessment serve as an important benchmark for evaluating organizations’ commitment to India 2047. It focuses on the interplay between sustainable investments and processes in shaping a sustainable and growing business future.
E.issues
14. Technology
15. Environment
16. Security
VISIT BY ADMIRAL ADOONG PAN-IAM COMMANDR-IN-CHIEF ROYAL THAI NAVY
Admiral Adoong Pan-Iam, Commander-in-Chief, Royal Thai Navy on an official visit to India from 01 – 03 Apr 2024, interacted with Adm R Hari Kumar, the Chief of the Naval Staff, at New Delhi on 01 Apr 24. Discussions were centred around issues of mutual cooperation in the maritime domain, training exchange programmes and information sharing.
Earlier today, Adm Adoong Pan-Iam laid a ceremonial wreath at the National War Memorial and was thereafter welcomed with the customary Guard of Honour presented by the Indian Navyat the South Block, New Delhi. He is also scheduled to call on Chief of the Defence Staff, Chief of the Air Staff, Defence Secretary, and the National Maritime Security Co-ordinator.
To further deepen Defence Cooperation between both countries, Adm Adoong Pan-Iam is scheduled to meet officials of the Indian Defence Industries and the Department of Defence Production at New Delhi. Following this, an interactive session with Indian Navy Officials from the Warship Design Bureau is also planned to explore current trends in ship building and identify future opportunities, including scope of ship maintenance and repairs in India.
Both navies have been conducting regular Coordinated Patrols on biannual basis since 2005, and the maiden IN-RTN Bilateral Exercise, viz., Ex- Ayutthaya was held in Dec 23 last year. More recently, one Royal Thai Navy Ship HTMS Prachup Kheri Khan participated in MILAN 24 held in February 2024 in Visakhapatnam. Both navies are also active member of Indian Ocean Naval Symposium (IONS) and Indian Ocean Rim Association (IORA). Visit of the Commander-in-Chief of the Royal Thai Navy to India is a testimony of strong bilateral relations and lasting friendship between both navies.
Defence exports touch record Rs 21,083 crore in FY 2023-24, an increase of 32.5% over last fiscal; Private sector contributes 60%, DPSUs – 40%
Defence exports have touched a record Rs 21,083 crore (approx. US$ 2.63 Billion) in the Financial Year (FY) 2023-24, a growth of 32.5% over the last fiscal when the figure was Rs 15,920 crore. The recent figures indicate that the defence exports have grown by 31 times in the last 10 years as compared to FY 2013-14.
The defence Industry, including the private sector and Defence Public Sector Undertakings (DPSUs), have made tremendous efforts in achieving the highest-ever defence exports. The private sector and the DPSUs have contributed about 60% and 40% respectively.
In addition, there has been a rise in the number of export authorisations issued to the defence exporters during FY 2023-24. From 1,414 export authorisations in FY 2022-23, the number jumped to 1,507 in FY 2023-24.
A comparative data of two decades i.e. the period from 2004-05 to 2013-14 and 2014-15 to 2023-24 reveals that there has been a growth of 21 times in the defence exports. Total defence exports during 2004-05 to 2013-14 were Rs 4,312 crore, which has gone up to Rs 88,319 crore in the period from 2014-15 to 2023-24.
The remarkable growth has been achieved due to the policy reforms and ‘Ease of Doing Business’ initiatives brought in by the Government, in addition to the end-to-end digital solution provided to the Indian industries for promoting defence exports. This growth is a reflection of global acceptability of Indian defence products and technologies.
17. Disaster Management
During the upcoming hot weather season (April to June), above Normal maximum Temperatures are likely over most parts of country, says IMD
India Meteorological Department (IMD) today issued an updated Seasonal outlook for hot weather season (April to June) 2024 and Monthly outlook for April 2024 for rainfall and temperature at Mahika Hall, Prithvi Bhawan, New Delhi.
In a press conference held in a hybrid mode, IMD today said that during the upcoming hot weather season (April to June), above Normal maximum Temperatures are likely over most parts of country, especially with high probability over central India and western peninsular India. Addressing the Media Dr Mrutyunjay Mohapatra, DG, IMD said “Normal to below normal maximum temperatures are likely over some parts of western Himalayan region, NE states and north Odisha during this hot weather season”.
The other highlights pertaining to temperature scenario during April to June 2024 are given below:
- During the 2024 hot weather season (April to June (AMJ)), above-normal maximum temperatures are likely over most parts of the country, except some parts of east and northeast India and pockets of northwest India where normal to below-normal maximum temperatures are likely.
- During the season (AMJ), normal to above normal minimum temperatures are likely over most parts of the country except of some isolated areas in northeast and northwest India, where normal to below normal minimum temperatures are likely.
- For the month of April 2024, above-normal maximum temperatures are likely over most parts of the country. However, isolated pockets of east, northeast and northwest India are likely to experience normal to below-normal maximum temperatures.
- Above normal monthly minimum temperatures are most likely over most parts of India, except one or two pockets of northwest and northeast India where normal to below-normal minimum temperatures are likely during April 2024.
- During April May June hot weather season, above normal heatwave days are likely to occur over most parts of south peninsula, central India, east India and plains of northwest India.
- During April 2024, above normal heatwave days are likely over many parts of south peninsula and adjoining northwest central India and some parts of east India and plains of northwest India.
- The rainfall during April 2024, averaged over the country as a whole, is most likely to be normal (88-112% of LPA). Normal to above-normal rainfall is likely over most parts of the northwest India and many parts of central India, north peninsular India, some parts of east and north east India. Below normal rainfall is likely along east and west coasts, some parts of east and northeast India and west central India.
Addressing the press conference DG, IMD said that a transition from El Niño to ENSO-neutral is expected by April-June 2024 and thereafter, La Niña is favored in June-August,2024.
Talking about the impact of Heat Wave during April to June & April 2024, DG, IMD said during heatwaves elevated temperatures pose significant risks, especially for vulnerable populations like the elderly, children, and those with pre-existing health conditions, who are more susceptible to heat-related illnesses such as heat exhaustion and heatstroke. He said prolonged periods of extreme heat can lead to dehydration, and strain infrastructure such as power grids and transportation systems. He added in order to address these challenges, it is imperative for authorities to take proactive measures like providing access to cooling centers, issuing heat advisories, and implementing strategies to alleviate urban heat island effects in affected areas. Efforts are also needed for safeguarding public health and minimizing the adverse impacts of heatwaves.
He also informed the media that preparedness measures are being taken by NDMA, Ministry of Jal Shakti, Ministry of Agriculture, Ministry of Health and Ministry of Power to mitigate the effects of Heat Wave.
Shri Kamal Kishore, Member and Head, NDMA informed the media that NDMA has taken all measures including holding Annual Workshop with Ministry of Earth Sciences, 23 Heat wave prone States/ UTs, selected districts, and key sectors like Health, Water, Agriculture, Railways, and the civil society. They are also following the best practices of Army. He added that Advisories have been issued to 23 Heat wave prone States/ UTs in March itself and Heat Action plans (HAPs)for these states/UTs are ready. More than 200 cities/districts have prepared local HAPs.NDMA is also running an Awareness Generation campaign using Radio (Helpline FM Rainbow), TV (special episode of Aapda ka Samna, regional DD channels),eVidya DTH TV channels, and social media. Shri Kamal Kishore further informed that in view of the upcoming General Elections 2024, an Advisory has also been issued to the Election Commission to take precautionary measures to guide States and UTs in safeguarding against heat wave incident.
Short-term preparedness to long-term mitigation taken by NDMA are as follows:
• Comprehensive Mitigation Framework
• NDMA Manual on Cool Roof: technologies to reduce indoor temperature.
• Advanced Meteorological Services and operational forecasts for temperature, wind, humidity, and heat index to inform mitigation strategies.
• Ecosystem and Water Management: green cover, water bodies
• Making Heat Action Plans more dynamic and adaptive.
• Integrating Heat wave Mitigation in Urban Planning: cool roofs, greenery, and water conservation as key facets, changes in building codes and bye laws.
• Technological solutions: Construction technology, monitoring system.
Addressing the press conference DG, IMD said that a transition from El Niño to ENSO-neutral is expected by April-June 2024 and thereafter, La Niña is favored in June-August,2024.
To mitigate the effects of heat wave Shri Kamal Kishore shared that based on NDMA Guidelines, all 23 Heatwave prone States/ UTs have preparedHeat action plans.
Giving insights on current status of agriculture especially with respect to wheat crop, Dr Mohapatra said “1.21 % more area sown than last year and estimated production 112.02 million tonnes which is about 1.46 MT more than last year”. The production of wheat is expected to be around 112-114 million tonnes and heat waves would not have any significant impact on wheat production as 80-85 % wheat has been sown either early or timely between 25th October to 30th November. and 70 % area under climate resilient varieties.