Context: The World Bank’s updated poverty estimates for India have sparked renewed debate over how poverty is measured and understood in the country. Using a revised methodology and a new $3-a-day poverty line based on 2021 purchasing power parity (PPP), the Bank estimates that just 5.75% of Indians lived in abject (extreme) poverty in 2022–23, a sharp decline from 27% in 2011–12. This translates to: India’s Outdated Domestic Poverty Line India last revised its official poverty line in 2011–12, based on the Tendulkar Committee’s recommendations. Since then: Understanding Poverty Beyond Numbers Two lenses to interpret World Bank’s data: Free food to one-third of India’s population under the National Food Security Act raises questions about the actual material well-being of people not classified as “poor.” Key Takeaways The Indian Express
India Launches First Maritime Sector NBFC – Sagarmala Finance Corporation Ltd (SMFCL)
Context: The Union Minister of Shipping inaugurated India’s first dedicated maritime sector NBFC, Sagarmala Finance Corporation Limited (SMFCL), aimed at bridging financing gaps in maritime infrastructure and boosting sectoral growth in line with the Maritime Amrit Kaal Vision 2047. Key Highlights Core Objectives Key Functions of SMFCL TOI
India to Launch Nationwide Household Income Survey
Context: The Ministry of Statistics and Programme Implementation (MoSPI) has announced plans to conduct a comprehensive nationwide household income survey beginning next year. This will mark the first systematic attempt in decades to directly measure household income distribution across India. Purpose and Significance Why It Matters Historical Attempts and Challenges Concerns The Indian Express
Keeladi Excavation
Context: The Keeladi archaeological site in Tamil Nadu has become a focal point of both archaeological significance and political contention. The excavations, first launched by archaeologist K. Amarnath Ramakrishna in 2014, unearthed evidence of a sophisticated urban civilisation along the Vaigai River, possibly dating back to the Sangam period (2nd century BCE). Keeladi Excavation Keeladi, a village in Sivaganga district, Tamil Nadu, is located on the banks of the Vaigai River, about 12 km southeast of Madurai. Excavation Highlights Civilisational Significance About the Sangam Age
Centre Announces MSP for Mangoes under Market Intervention Scheme (MIS)
Context: The Union government on Tuesday announced a minimum support price (MSP) for mangoes, bringing relief to thousands of farmers in Karnataka, who had been affected by crop loss and drastic fall in prices this year. Key Highlights What is the Market Intervention Scheme (MIS)? The New Indian Express
Centre Approves Procurement of Moong and Urad under Price Support Scheme
Context: Union Minister for Agriculture & Farmers’ Welfare and Rural Development Shri Shivraj Singh Chouhan, held a meeting in New Delhi and approved the procurement of Moong and Urad in Madhya Pradesh, and Urad in Uttar Pradesh under the Price Support Scheme (PSS). Key Approvals & States Involved
India to Host International Potato Centre’s South Asia Regional Centre in Agra
Context: The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved a proposal from the Department of Agriculture & Farmers Welfare to establish International Potato Centre (CIP)’s South Asia Regional Centre (CSARC) at Agra, Uttar Pradesh. Key Highlights PIB
Farmers Demand DBT for Schemes and AI-Based Price Forecasting Tools
Context: A 15-day mass outreach programme under the Viksit Krishi Sankalp Abhiyan concluded with a report presented to Agriculture Minister Shivraj Singh Chouhan and senior officials. The initiative aimed to capture farmer concerns, improve productivity, and raise incomes. Key Demands and Policy Recommendations Direct Benefit Transfer (DBT) AI-Based Price Forecasting Tools Identified Gaps and Action Areas Actionable Policy Issues Research and Extension Gaps Planned Interventions Short-Term (Next 6 Months) Medium-Term BS
RazorpayX Launches Corporate Cards for Startups Amid IPO Readiness
Context: In a move to address the credit access gap faced by Indian startups, RazorpayX, the business banking arm of Razorpay, has unveiled RazorpayX Corporate Cards in collaboration with Mastercard, RBL Bank, and YES Bank. Product Features BL
Call Money Market
Context: In a move aimed at aligning Indian financial markets with global standards and enhancing liquidity management, the Reserve Bank of India (RBI) has announced extended trading hours for key segments of the money market. Key Changes Call Money Market In finance, call money refers to short-term funds lent by banks or financial institutions that are repayable on demand, with a maturity ranging from overnight to 14 days. It is a core component of the Indian inter-bank money market. Key Features Economic Importance RBI Extends Call Money Market Trading Hours: TOI
