‘PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE)’ Scheme, approved by Cabinet recently with a financial outlay of Rs.10,900 crore, has come into effect from October 1, 2024, and will remain in force until March 31, 2026. Its primary aim is to accelerate the adoption of electric vehicles (EVs), establish charging infrastructure, and build a robust EV manufacturing ecosystem in the country. Key Features
India´s Electric Vehicle (EV) Industry
Context: India´s electric vehicle (EV) industry hit a new milestone in 2024, with sales surging 26.5 per cent yearonyear to 1.94 million units as of December 29, according to Vahan data from the Ministry of Road Transport and Highways (MoRTH). Key Highlights: India’s EV Industry in 2024 Vehicle Market Breakdown Government Schemes
The Risk in Agricultural Supply Chains and Collateral Management
Challenges in Agricultural Supply Chains and Collateral Management Understanding Collateral Management Read more>>
Economy in FY25 to grow at 6.56.8%, says Deloitte
Context: The economy is likely to grow at 6.56.8% this fiscal and slightly higher between 6.77.3% in FY26, boosted by domestic consumption, Deloitte said on Sunday. Fiscal Deficit Comparing GVA and GDP
CII Seeks Excise Duty Cut in Fuel, Hike in minimum wages
Context: The Confederation of Indian Industry (CII) has suggested excise duty cuts in petrol and diesel and a hike in key minimum wages in the upcoming Union budget to boost consumption amid high inflation. The Confederation of Indian Industry (CII)
Gold and Silver Exchangetraded Funds (ETFs)
Context: Gold and silver Exchangetraded funds (ETFs) saw an extraordinary rise in demand during the calendar year (CY) 2024, driven by higher prices and favourable tax adjustments. Gold and Silver Exchange-Traded Funds
Housing Industrial Workers
Context: Union Finance Minister Nirmala Sitharaman in her July Budget had announced plans to establish rental housing with dormitory-type accommodation for industrial workers in public-private partnership (PPP) mode with viability gap funding (VGF). Key Highlights: Public-Private Partnership (PPP) A public-private partnership (PPP) is a long-term arrangement between a government and a private sector entity to provide public services or infrastructure. In a PPP, the private sector entity provides the services or infrastructure, while the government provides the resources. Viability Gap Funding (VGF) Viability Gap Funding (VGF) is a scheme by the Government of India that provides financial support to infrastructure projects that are economically desirable but not commercially viable.
India Australia CECA talks may get delayed
Context: India-Australia Comprehensive Trade Agreement Talks Might Get Prolonged Key Highlights: Indian-Australian Cooperation and Trade Economic Agreement (CECA)
Insurance Regulatory Authority Report on Health Insurance in India
Context: Health insurers paid out only 71.3% of the Rs 1.2 lakh crore claims that were registered and outstanding during FY24, according to Irdai data. Key Highlights: Insurance Regulatory and Development Authority of India Insurance Regulatory and Development Authority of India is a statutory body under the Ministry of Finance, responsible for regulation and licensing of insurance and re-insurance business in India. It is established by the Insurance Regulatory and Development Authority Act, 1999.
Attrition in Private Banks
Context: The RBI has noted a three-year attrition rate sharply rising in the private sector banks (PVBs) and small finance banks (SFBs). Key Highlights: Attrition Attrition in banking refers to the loss of employees or customers over a period of time. The term used to describe the reduction in the number of staff or customer accounts due to voluntary or involuntary departures. Attrition is a critical factor for banks, because it directly impacts operational efficiency, customer retention, and overall growth. Types of Attrition:
