Category: Economy
Credit Ratings
Moody’s Investors Service has reaffirmed India’s rating as a long-term local and foreign-currency issuer at Baa3.
Digital India Programme
The Union Cabinet approved a five-year extension and expansion of the Digital India programme, including the Computer Emergency Response Team, India (CERT-in) expansion.
Onion Price Hike and Price Stabilisation Fund (PSF)
Government decided to release onions from the 300,000-tonne buffer as part of the price stabilization fund (PSF) to cool onion prices.
Finance Technology (Fintech)
RBI plans to enhance UPI with AI-driven conversational features for user-friendliness and wider adoption.
Federal Funds Rate
Federal Open Market Committee meeting was determined to raise the targeted federal funds rate to a range of 5.25% to 5.5%.
Nutrient Based Subsidy (NBS) Regime
Standing Committee of Parliament on Chemicals and Fertilizers reports called for ending the import dependence on fertilizers such as urea, diammonium phosphate (DAP), muriate of potash (MOP), and nitrogen, phosphorus, and potassium (NPK).
Open Market Sales Scheme (OMSS)
Centre decided to additionally sell wheat and rice through the Open Market Sales Scheme for Food Corporation of India (FCI) stocks.
SATAT scheme
The parliamentary standing committee on petroleum and natural gas criticizes Oil Ministry and its PSUs for not prioritizing CBG projects in the country.
National Institute of Public Finance and Policy (NIPFP)
The National Institute of Public Finance and Policy (NIPFP) has refused to reveal any information on unaccounted income and wealth.
Retail Inflation & Monetary Policy Committee
India’s retail inflation may have spiked close to or over the 6% upper tolerance threshold of the Reserve Bank of India (RBI) in July, owing to a broad-based uptick in food prices.
Bhu-Vision
Bhu-Vision, also known as KRISHI-RASTAA Soil Testing System has been officially launched at AICRP (ICAR-IIRR), Hyderabad.
SVAMITVA Scheme
The Union Housing and Urban Affairs Ministry has set a new target for its loan scheme for street vendors.