AHMEDABAD BENGALURU BHOPAL CHANDIGARH DELHI GUWAHATI HYDERABAD JAIPUR JODHPUR LUCKNOW PRAYAGRAJ PUNE RANCHI
, ECONOMY
Table of Contents
BRIEF GLANCE AT INDIAN ECONOMY _____ 5 2.6. Other Key Developments ____________ 27
2.6.1. Duty Drawback _____________________ 27
1. BANKING AND MONETORY POLICY ____ 6 2.6.2. Windfall Tax _______________________ 28
1.1. Monetary Policy of RBI ______________ 6 3. PAYMENT SYSTEMS & FINANCIAL MARKET
1.1.1. Variable Repo Rate (VRR) _____________ 7
___________________________________ 29
1.2. Revised Priority Sector Lending Norms _ 7
3.1. Digital Public Infrastructure (DPI) _____ 29
1.3. Mumbai Interbank Outright Rate (MIBOR)9
3.2. Unified Payments Interface (UPI) _____ 29
1.4. RBI Surplus Transfer ________________ 9 3.2.1. Project Nexus ______________________ 30
1.4.1. Ways and Means Advances Scheme ___ 10
3.3. Securities and Exchange Board of India (SEBI)
1.4.2. Other Key Developments Related to RBI 11
1.4.2.1. Credit-Deposit (CD) Ratio __________ 11
____________________________________ 31
1.4.2.2. Financial Inclusion Index ___________ 11 3.3.1. Settlement Cycle ____________________ 32
1.4.2.3. Reserve Bank – Integrated Ombudsman 3.4. National Stock Exchange (NSE) _______ 33
Scheme _______________________________ 11 3.4.1. Co-location or Proximity Hosting _______ 33
1.4.2.4. Omnibus Framework for recognising Self-
Regulatory Organisations (SROs) for Regulated 3.5. Financialization ____________________ 33
Entities (REs) ___________________________ 12 3.6. Indian Derivative Markets ___________ 34
1.5. Universal Banks ___________________ 12 3.7. Credit Rating Agencies ______________ 35
1.6. Urban Cooperative Banks ___________ 13 3.8. Other Key Developments ____________ 36
1.6.1. Prompt Corrective Action (PCA) framework for 3.8.1. Infrastructure Investment Trusts (InvITs) 36
Primary Urban Co-operative Banks (UCBs) ___ 14 3.8.2. Investor Education and Protection Fund
1.7. 50 years of Indian Microfinance Sector 15 Authority (IEPFA) ________________________ 36
3.8.3. Front Running ______________________ 36
1.8. Non-Banking Financial Companies (NBFCs) 3.8.4. India Volatility Index (VIX) ____________ 36
___________________________________ 15 3.8.5. Finternet __________________________ 37
3.8.6. Perpetual Bonds ____________________ 37
1.9. Non-Performing Assets (NPAs) _______ 16
3.8.7. Participatory notes (p-notes) __________ 37
1.9.1. Wilful Defaulters ___________________ 17
3.8.8. India International Bullion Exchange (IIBX)37
1.10. Insolvency and Bankruptcy Code, 2016 18 3.8.9. Carry Trade ________________________ 38
1.11. Asset Reconstruction Companies (ARC)19 4. EXTERNAL SECTOR _________________ 39
1.12. Household Savings Rate ___________ 20 4.1. India’s Trade Deficit ________________ 39
2. FINANCE AND TAXATION ___________ 22 4.2. Foreign Direct Investment (FDI) _______ 40
2.1. Goods and Service Tax (GST) ________ 22 4.3. Internationalisation of Indian Rupee___ 41
2.1.1. Inverted Duty Structure (IDS) _________ 23
4.4. Bretton Woods Conference __________ 43
2.2. Long-Term Capital Gains (LTCG) & Indexation 4.4.1. International Monetary Fund (IMF) _____ 43
Benefit _____________________________ 23 4.4.2. World Bank ________________________ 44
2.3. Inheritance Tax ___________________ 24 4.5. WTO ____________________________ 45
4.5.1. Agriculture and Food Security _________ 46
2.4. Advance Pricing Agreements ________ 25 4.5.2. WTO Agreement on Fisheries Subsidies
2.4.1. Double Taxation Avoidance Agreement (Geneva Package) ________________________ 47
(DTAA) ________________________________ 26 4.5.3. TRIPS Agreement ___________________ 48
2.5. UN Global Tax Treaty ______________ 26 5. GROWTH AND DEVELOPMENT _______ 49
1 AHMEDABAD | BENGALURU | BHOPAL | CHANDIGARH | DELHI | GUWAHATI | HYDERABAD | JAIPUR | JODHPUR | LUCKNOW | PRAYAGRAJ | PUNE | RANCHI ©Vision IAS
, 5.1. Gross Fixed Capital Formation (GFCF) _ 49 7.2. Gig Economy ______________________ 71
5.2. Human Development Report (HDR) 2023- 7.3. Living Wage_______________________ 72
2024 _______________________________ 50
7.4. Insurance Regulatory and Development
5.3. Global Multidimensional Poverty Index Authority of India _____________________ 73
(MPI) _______________________________ 51
8. BUSINESS, INNOVATION AND
5.4. Middle Income Trap _______________ 52 ENTREPRENEURSHIP _________________ 74
5.4.1. Preston Curve _____________________ 52
8.1. B Ready Index _____________________ 74
5.5. Nobel Prize in Economic Sciences _____ 53
8.2. India's Startup Ecosystem ___________ 75
6. AGRICULTURE & ALLIED SECTOR _____ 54 8.2.1. Angel Tax __________________________ 76
6.1. Agriculture Sector _________________ 54 8.3. Patents (Amendment) Rules, 2024 ____ 76
6.1.1. Horticulture Sector in India___________ 54
6.1.2. Krishi Vigyan Kendra ________________ 55 8.4. Global Innovation Index 2024 and Social
6.1.3. Digital Agriculture Mission ___________ 56 Entrepreneurship______________________ 78
6.1.4. Livestock Sector in India _____________ 56 8.5. Treaty on Intellectual Property, Genetic
6.2. White Revolution 2.0 ______________ 58 Resources and Associated Traditional Knowledge
____________________________________ 79
6.3. Agriculture Infrastructure Fund ______ 59
9. INFRASTRUCTURE __________________ 81
6.4. Agri-Tech ________________________ 59
9.1. PM Gati Shakti National Master Plan __ 81
6.5. Minimum Support Price (MSP) _______ 60
9.2. Public-Private Partnership (PPP) Framework
6.6. India’s Agriculture Export Policy ______ 60
in India ______________________________ 81
6.7. World's Largest Grain Storage Plan in
9.3. Asset Monetization ________________ 82
Cooperative Sector ____________________ 61
9.4. Industrial Parks ____________________ 82
6.8. National Mission on Edible Oils – Oilseeds
(NMEO-Oilseeds) _____________________ 62 9.5. Logistics Sector of India _____________ 83
6.9. Millet ___________________________ 63 9.6. India’s Port Sector _________________ 84
9.6.1. Other Key Developments Related to Port
6.10. SPICED Scheme __________________ 64 Sector _________________________________ 85
6.11. Pulses __________________________ 65 9.7. Indian Railways Safety ______________ 86
6.12. Jute ___________________________ 66 9.8. National Bank for Financing Infrastructure
6.13. NABARD All India Rural Financial Inclusion and Development (NaBFID) _____________ 87
Survey (NAFIS) 2021-22 ________________ 66
10. SERVICES ________________________ 88
6.14. Primary Agriculture Credit Socities (PACS)
10.1. E-commerce _____________________ 88
___________________________________ 67 10.1.1. Open Network for Digital Commerce (ONDC)
6.15. Fisheries Sector __________________ 68 _______________________________________ 88
6.15.1. Seaweed Farming _________________ 69 10.1.2. Antitrust Laws _____________________ 89
6.16. Other Key Developments __________ 69 11. MINING, ENERGY & INDUSTRY ______ 90
6.16.1. Central Silk Board _________________ 69
11.1. Coal Sector in India ________________ 90
6.16.2. Indian Council of Agricultural Research
(ICAR)-National Institute of Secondary Agriculture 11.2. Offshore Minerals in India __________ 91
(NISA) _________________________________ 70
11.3. Steel Sector ______________________ 92
7. LABOUR And EMPLOYMENT _________ 71
11.4. Bio-Economy _____________________ 93
7.1. Periodic Labour Force Survey ________ 71
11.5. Space Economy ___________________ 94
2
© Vision IAS AHMEDABAD | BENGALURU | BHOPAL | CHANDIGARH | DELHI | GUWAHATI | HYDERABAD | JAIPUR | JODHPUR | LUCKNOW | PRAYAGRAJ | PUNE | RANCHI
, 11.6. Voluntary Vehicle Modernization Program 12. MISCELLANEOUS_________________ 100
___________________________________ 95
12.1. Nidhi Companies ________________ 100
11.7. National Electricity Plan (Transmission)96
12.2. ISI Mark ________________________ 100
11.8. Textiles Sector ___________________ 96
11.8.1. Technical Textiles _________________ 97
12.3. Green Shoots ___________________ 100
11.9. Other Key Developments __________ 98 12.4. Enhanced Integrated Framework (EIF)101
11.9.1. Index of Eight Core Industries________ 98 12.5. Telecommunications (Administration of
11.9.2. Navratna Status ___________________ 98 Digital Bharat Nidhi) Rules, 2024 ________ 101
11.9.3. Expert Committee on Developing GIFT IFSC
______________________________________ 98 12.6. NCoE for Animation, Visual Effects, Gaming,
11.9.4. World Gold Council (WGC) __________ 99 Comics, and Extended Reality ___________ 101
Copyright © by Vision IAS
All rights are reserved. No part of this document may be reproduced, stored in a retrieval system or
transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise,
without prior permission of Vision IAS.
3
AHMEDABAD | BENGALURU | BHOPAL | CHANDIGARH | DELHI | GUWAHATI | HYDERABAD | JAIPUR | JODHPUR | LUCKNOW | PRAYAGRAJ | PUNE | RANCHI ©Vision IAS
, ECONOMY
Table of Contents
BRIEF GLANCE AT INDIAN ECONOMY _____ 5 2.6. Other Key Developments ____________ 27
2.6.1. Duty Drawback _____________________ 27
1. BANKING AND MONETORY POLICY ____ 6 2.6.2. Windfall Tax _______________________ 28
1.1. Monetary Policy of RBI ______________ 6 3. PAYMENT SYSTEMS & FINANCIAL MARKET
1.1.1. Variable Repo Rate (VRR) _____________ 7
___________________________________ 29
1.2. Revised Priority Sector Lending Norms _ 7
3.1. Digital Public Infrastructure (DPI) _____ 29
1.3. Mumbai Interbank Outright Rate (MIBOR)9
3.2. Unified Payments Interface (UPI) _____ 29
1.4. RBI Surplus Transfer ________________ 9 3.2.1. Project Nexus ______________________ 30
1.4.1. Ways and Means Advances Scheme ___ 10
3.3. Securities and Exchange Board of India (SEBI)
1.4.2. Other Key Developments Related to RBI 11
1.4.2.1. Credit-Deposit (CD) Ratio __________ 11
____________________________________ 31
1.4.2.2. Financial Inclusion Index ___________ 11 3.3.1. Settlement Cycle ____________________ 32
1.4.2.3. Reserve Bank – Integrated Ombudsman 3.4. National Stock Exchange (NSE) _______ 33
Scheme _______________________________ 11 3.4.1. Co-location or Proximity Hosting _______ 33
1.4.2.4. Omnibus Framework for recognising Self-
Regulatory Organisations (SROs) for Regulated 3.5. Financialization ____________________ 33
Entities (REs) ___________________________ 12 3.6. Indian Derivative Markets ___________ 34
1.5. Universal Banks ___________________ 12 3.7. Credit Rating Agencies ______________ 35
1.6. Urban Cooperative Banks ___________ 13 3.8. Other Key Developments ____________ 36
1.6.1. Prompt Corrective Action (PCA) framework for 3.8.1. Infrastructure Investment Trusts (InvITs) 36
Primary Urban Co-operative Banks (UCBs) ___ 14 3.8.2. Investor Education and Protection Fund
1.7. 50 years of Indian Microfinance Sector 15 Authority (IEPFA) ________________________ 36
3.8.3. Front Running ______________________ 36
1.8. Non-Banking Financial Companies (NBFCs) 3.8.4. India Volatility Index (VIX) ____________ 36
___________________________________ 15 3.8.5. Finternet __________________________ 37
3.8.6. Perpetual Bonds ____________________ 37
1.9. Non-Performing Assets (NPAs) _______ 16
3.8.7. Participatory notes (p-notes) __________ 37
1.9.1. Wilful Defaulters ___________________ 17
3.8.8. India International Bullion Exchange (IIBX)37
1.10. Insolvency and Bankruptcy Code, 2016 18 3.8.9. Carry Trade ________________________ 38
1.11. Asset Reconstruction Companies (ARC)19 4. EXTERNAL SECTOR _________________ 39
1.12. Household Savings Rate ___________ 20 4.1. India’s Trade Deficit ________________ 39
2. FINANCE AND TAXATION ___________ 22 4.2. Foreign Direct Investment (FDI) _______ 40
2.1. Goods and Service Tax (GST) ________ 22 4.3. Internationalisation of Indian Rupee___ 41
2.1.1. Inverted Duty Structure (IDS) _________ 23
4.4. Bretton Woods Conference __________ 43
2.2. Long-Term Capital Gains (LTCG) & Indexation 4.4.1. International Monetary Fund (IMF) _____ 43
Benefit _____________________________ 23 4.4.2. World Bank ________________________ 44
2.3. Inheritance Tax ___________________ 24 4.5. WTO ____________________________ 45
4.5.1. Agriculture and Food Security _________ 46
2.4. Advance Pricing Agreements ________ 25 4.5.2. WTO Agreement on Fisheries Subsidies
2.4.1. Double Taxation Avoidance Agreement (Geneva Package) ________________________ 47
(DTAA) ________________________________ 26 4.5.3. TRIPS Agreement ___________________ 48
2.5. UN Global Tax Treaty ______________ 26 5. GROWTH AND DEVELOPMENT _______ 49
1 AHMEDABAD | BENGALURU | BHOPAL | CHANDIGARH | DELHI | GUWAHATI | HYDERABAD | JAIPUR | JODHPUR | LUCKNOW | PRAYAGRAJ | PUNE | RANCHI ©Vision IAS
, 5.1. Gross Fixed Capital Formation (GFCF) _ 49 7.2. Gig Economy ______________________ 71
5.2. Human Development Report (HDR) 2023- 7.3. Living Wage_______________________ 72
2024 _______________________________ 50
7.4. Insurance Regulatory and Development
5.3. Global Multidimensional Poverty Index Authority of India _____________________ 73
(MPI) _______________________________ 51
8. BUSINESS, INNOVATION AND
5.4. Middle Income Trap _______________ 52 ENTREPRENEURSHIP _________________ 74
5.4.1. Preston Curve _____________________ 52
8.1. B Ready Index _____________________ 74
5.5. Nobel Prize in Economic Sciences _____ 53
8.2. India's Startup Ecosystem ___________ 75
6. AGRICULTURE & ALLIED SECTOR _____ 54 8.2.1. Angel Tax __________________________ 76
6.1. Agriculture Sector _________________ 54 8.3. Patents (Amendment) Rules, 2024 ____ 76
6.1.1. Horticulture Sector in India___________ 54
6.1.2. Krishi Vigyan Kendra ________________ 55 8.4. Global Innovation Index 2024 and Social
6.1.3. Digital Agriculture Mission ___________ 56 Entrepreneurship______________________ 78
6.1.4. Livestock Sector in India _____________ 56 8.5. Treaty on Intellectual Property, Genetic
6.2. White Revolution 2.0 ______________ 58 Resources and Associated Traditional Knowledge
____________________________________ 79
6.3. Agriculture Infrastructure Fund ______ 59
9. INFRASTRUCTURE __________________ 81
6.4. Agri-Tech ________________________ 59
9.1. PM Gati Shakti National Master Plan __ 81
6.5. Minimum Support Price (MSP) _______ 60
9.2. Public-Private Partnership (PPP) Framework
6.6. India’s Agriculture Export Policy ______ 60
in India ______________________________ 81
6.7. World's Largest Grain Storage Plan in
9.3. Asset Monetization ________________ 82
Cooperative Sector ____________________ 61
9.4. Industrial Parks ____________________ 82
6.8. National Mission on Edible Oils – Oilseeds
(NMEO-Oilseeds) _____________________ 62 9.5. Logistics Sector of India _____________ 83
6.9. Millet ___________________________ 63 9.6. India’s Port Sector _________________ 84
9.6.1. Other Key Developments Related to Port
6.10. SPICED Scheme __________________ 64 Sector _________________________________ 85
6.11. Pulses __________________________ 65 9.7. Indian Railways Safety ______________ 86
6.12. Jute ___________________________ 66 9.8. National Bank for Financing Infrastructure
6.13. NABARD All India Rural Financial Inclusion and Development (NaBFID) _____________ 87
Survey (NAFIS) 2021-22 ________________ 66
10. SERVICES ________________________ 88
6.14. Primary Agriculture Credit Socities (PACS)
10.1. E-commerce _____________________ 88
___________________________________ 67 10.1.1. Open Network for Digital Commerce (ONDC)
6.15. Fisheries Sector __________________ 68 _______________________________________ 88
6.15.1. Seaweed Farming _________________ 69 10.1.2. Antitrust Laws _____________________ 89
6.16. Other Key Developments __________ 69 11. MINING, ENERGY & INDUSTRY ______ 90
6.16.1. Central Silk Board _________________ 69
11.1. Coal Sector in India ________________ 90
6.16.2. Indian Council of Agricultural Research
(ICAR)-National Institute of Secondary Agriculture 11.2. Offshore Minerals in India __________ 91
(NISA) _________________________________ 70
11.3. Steel Sector ______________________ 92
7. LABOUR And EMPLOYMENT _________ 71
11.4. Bio-Economy _____________________ 93
7.1. Periodic Labour Force Survey ________ 71
11.5. Space Economy ___________________ 94
2
© Vision IAS AHMEDABAD | BENGALURU | BHOPAL | CHANDIGARH | DELHI | GUWAHATI | HYDERABAD | JAIPUR | JODHPUR | LUCKNOW | PRAYAGRAJ | PUNE | RANCHI
, 11.6. Voluntary Vehicle Modernization Program 12. MISCELLANEOUS_________________ 100
___________________________________ 95
12.1. Nidhi Companies ________________ 100
11.7. National Electricity Plan (Transmission)96
12.2. ISI Mark ________________________ 100
11.8. Textiles Sector ___________________ 96
11.8.1. Technical Textiles _________________ 97
12.3. Green Shoots ___________________ 100
11.9. Other Key Developments __________ 98 12.4. Enhanced Integrated Framework (EIF)101
11.9.1. Index of Eight Core Industries________ 98 12.5. Telecommunications (Administration of
11.9.2. Navratna Status ___________________ 98 Digital Bharat Nidhi) Rules, 2024 ________ 101
11.9.3. Expert Committee on Developing GIFT IFSC
______________________________________ 98 12.6. NCoE for Animation, Visual Effects, Gaming,
11.9.4. World Gold Council (WGC) __________ 99 Comics, and Extended Reality ___________ 101
Copyright © by Vision IAS
All rights are reserved. No part of this document may be reproduced, stored in a retrieval system or
transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise,
without prior permission of Vision IAS.
3
AHMEDABAD | BENGALURU | BHOPAL | CHANDIGARH | DELHI | GUWAHATI | HYDERABAD | JAIPUR | JODHPUR | LUCKNOW | PRAYAGRAJ | PUNE | RANCHI ©Vision IAS
