Context: The 11th Nation Symposium on Spices and Aromatic Crops or SYMSAC XI will be taking place in Kozhikode from January 7 to 9. Organized by the Indian Society for Spices (ISS). Key Highlights: The Indian Society for Spices (ISS) The Indian Society for Spices (ISS) was founded in 1991 aiming the advancement of research and development in spices, aromatic and related crops.
Prime Minister-Economists Pre-Budget Discussion
Key Highlights of the Discussion:
Economic growth in India and challenges ahead
India’s Trade Policy Reforms
Context: The Union Commerce Ministry is exploring ways to boost the export value of six product categories across 20 priority markets- the advanced Western nations, Russia, China and Indonesia. Key Highlights: European Free Trade Association (
Green Steel
Context: The finance ministry has rejected the steel ministry’s plan for a central public entity that would buy green steel in bulk. Context:
SteelMin wants Customs duty to double to 15%
The steel ministry has urged the Ministry of Finance to double the basic Customs duty on imported finished steel products to 15 per cent from the current 7.5 per cent in the upcoming Union Budget for 2025–26, people aware of the matter said.
Govt. will boost spending quality, cut fiscal deficit
Context: The government will continue its focus on improving quality spending, strengthening the social security net and bring down the fiscal deficit to 4.5% of the GDP in FY26, a Finance Ministry document said. Comparing GVA and GDP Fiscal Deficit
Banking Sector Show Sustained Profit Growth
Context: The banking sector reported a record quarterly net profit for the September quarter amid improving stability in net interest margins (NIMs) and sustained double-digit growth in pre-provisioning operating profit (PPOP). Net interest margin (NIM) Net interest margin (NIM) is a financial indicator that measures the profitability of a bank or other financial institution. It is calculated by dividing the net interest income (interest income minus interest expense) by the total earning assets. NIM is a main indicator of a financial entity’s health and efficiency. It can help investors determine whether to invest in a financial services firm, and can provide insight into a firm’s cost structure: Pre-Provision Operating Profit (PPOP)
Foreign Currency Spending in India Dips
Context: India’s foreign currency expenditure shrank 14% to USD 2.4 billion in October, marking the lowest influx since June 2024. Key Highlights: Foreign currency expenditure Foreign currency expenditure is an expense incurred in a foreign currency, such as when a business makes regular payments in a foreign currency for imports or exports. UPI: Revolutionizing Digital Paym
Surety Bonds in India
A surety bond is a legally binding contract that provides financial protection and assurance that a party will fulfill their obligations. The Surety bond market is evolving in India, which offers an alternative to traditional bank guarantees and play a important role in managing risks associated with non-performing assets (NPAs) in the banking sector. Surety Bonds in India: Surety Bonds as an Alternative to Bank Guarantees:
