Daily Current Affairs Archives | Page 22 of 24

India GDP Growth Expected at 7.4% in FY26 – First Advance Estimates, GDP vs GNP Explained

Why in News?

India’s real GDP growth is projected at 7.4% for FY26, according to the government’s First Advance Estimates, despite global uncertainties like US tariff pressures

GDP-Explained

Gross Domestic Product (GDP) measures the total value of goods and services produced within a country’s borders in a given time period.

It is a key indicator of economic performance and growth.

GDP = Total value of final goods and services produced within India
Includes Net Indirect Taxes (GST – Subsidies) added to GVA
Excludes intermediate goods to avoid double counting

Types of GDP

Nominal GDP:

Measured at current market prices
Does not adjust for inflation

Real GDP:

Adjusted for inflation/deflation
Reflects actual growth in output

GDP vs GNP

Feature	GDP	GNP
Definition	Production within country	Income of nationals globally
Focus	Domestic territory	Ownership (citizens/companies)
Includes foreign companies in India	Yes	No
Includes income earned abroad	No	Yes

Examples:

A foreign company producing goods in India → counted in India’s GDP
An Indian company earning income abroad → counted in India’s GNP

https://indianexpress.com/article/business/economy/fy26-real-gdp-growth-seen-at-7-4-budget-prep-to-build-on-data-10460105/

India GDP Growth Expected at 7.4% in FY26 – First Advance Estimates, GDP vs GNP Explained Read More »

India’s CPI Inflation Rises to 1.33% in December 2025 – Key Facts, Types & CPI vs WPI

Why in News?

India’s retail inflation, based on the Consumer Price Index (CPI), increased to 1.33% in December 2025, up from 0.71% in November, as per data released by the National Statistical Office under the Ministry of Statistics and Programme Implementation.

Consumer Price Index:

Consumer Price Index (CPI) measures the average change over time in the prices paid by consumers for a representative “basket” of goods and services. It is the primary tool used to measure inflation and assess the cost of living

In India’s revised 2024 series, the basket includes 358 items classified under 12 divisions

Food and Beverages (46%): Still the largest component, though its relative weight has slightly declined.
Housing (10%): Now includes maintenance and water supply in its composite index.
Services: Coverage has expanded to 50 items, including digital services like OTT subscriptions.

Types of CPI:

CPI (Combined):

Covers both rural and urban populations

CPI – Industrial Workers (IW):

Released by Labour Bureau
Used to calculate Dearness Allowance (DA)

CPI – Agricultural Labourers (AL) / Rural Labourers (RL):

Also released by Labour Bureau

CPI vs WPI

Feature	CPI	WPI
Price Level	Retail (Consumer level)	Wholesale (Producer level)
Coverage	Goods + Services	Only Goods
Weightage	High weight to Food	High weight to Manufactured Goods
Used by	RBI for policy	Economic analysis

https://www.pib.gov.in/PressReleasePage.aspx?PRID=2213736&reg=3&lang=1

India’s CPI Inflation Rises to 1.33% in December 2025 – Key Facts, Types & CPI vs WPI Read More »

RBI Strengthens Priority Sector Lending (PSL) Norms – Key Highlights, Targets & Exam Notes

Leave a Comment / Daily Current Affairs, Indian Economy Current Affairs / Team PSC Chronicles

Why in News?

The Reserve Bank of India (RBI) has introduced amendments to the Priority Sector Lending (PSL) guidelines to improve credit flow monitoring and strengthen financial inclusion

Priority Sector Lending (PSL)

Priority Sector Lending (PSL) is a regulatory framework mandated by the Reserve Bank of India (RBI) requiring banks to direct a specific portion of their credit to sectors that are essential for the country’s development but often lack adequate access to formal finance.

It ensures that crucial sectors which often face credit shortages receive adequate financing.
It is a key tool for achieving financial inclusion and balanced development.

PSL Sectors:

Agriculture
Micro, Small and Medium Enterprises (MSMEs)
Export Credit
Education
Housing
Social Infrastructure
Renewable Energy
Weaker Sections (included under “Others”)

PSL Targets:

Domestic Commercial Banks:

Must allocate 40% of Adjusted Net Bank Credit (ANBC) to priority sectors.

Regional Rural Banks (RRBs) & Urban Cooperative Banks:

Higher target of 75% of ANBC due to their role in rural and inclusive banking.

https://www.newindianexpress.com/business/2026/Jan/19/rbi-tightens-psl-norms-asks-banks-to-get-external-auditor-certification

RBI Strengthens Priority Sector Lending (PSL) Norms – Key Highlights, Targets & Exam Notes Read More »

Union Cabinet Approves ₹5,000 Crore Equity Infusion into SIDBI to Boost MSME Credit Growth

Leave a Comment / Daily Current Affairs, Indian Economy Current Affairs / Team PSC Chronicles

Why in News?

Union Cabinet has approved a ₹5,000 crore equity infusion into SIDBI to enhance credit availability for MSMEs and ensure the institution maintains a strong financial position amid expanding lending operations.

The infusion will strengthen SIDBI’s lending capacity.
Helps maintain a healthy Capital to Risk-Weighted Assets Ratio (CRAR).

SIDBI (Small Industries Development Bank of India):

Established in 1990 under an Act of Parliament.
Acts as the principal financial institution for MSME promotion, financing, and development. Coordinates with other institutions involved in MSME financing.
Plays a vital role in industrial growth, employment generation, and exports.

Capital to Risk-Weighted Assets Ratio (CRAR):

Also known as Capital Adequacy Ratio (CAR).
Measures a bank’s capital in relation to its risk-weighted assets (RWA). Indicates the financial strength and stability of a bank.
A higher CRAR means better ability to absorb losses.
Governed by Basel Accords issued by the Basel Committee on Banking Supervision (BCBS).

https://pscchronicles.com/small-industries-development-bank-of-india-sidbi-topic-explained/

Union Cabinet Approves ₹5,000 Crore Equity Infusion into SIDBI to Boost MSME Credit Growth Read More »

Centre Proposes PM-RKVY Restructuring with ₹1.75 Lakh Crore Outlay (2026–31) – Key facts

Leave a Comment / Daily Current Affairs, Indian Economy Current Affairs / Team PSC Chronicles

Why in News?

Union Ministry of Agriculture has proposed a major restructuring of agricultural schemes by merging three schemes into Pradhan Mantri-Rashtriya Krishi Vikas Yojana (PM-RKVY).

pradhan mantri rashtriya krishi vikas yojana (pm rkvy).

Three schemes to be merged under PM-RKVY:

Krishonnati Yojana (KY) – Focus on food security & farmers’ income
National Mission on Natural Farming (NMNF) – Promotes chemical-free farming
National Bee and Honey Mission (NBHM) – Supports apiculture & pollination

Key Features of the Restructured Scheme:

Performance-Linked Funding Framework: For the first time, the allocation of central funds will be tied to a “Reform Score,” shifting from an expenditure-driven approach to an outcome-oriented one.

30% of funds will depend on a “Reform Score”.
States will be incentivized for: Land leasing reforms, Agricultural market liberalization and Structural policy improvements.

Funding Pattern:

General States: 60:40 (Centre:State).
Northeastern and Himalayan States: 90:10.
Union Territories: 100% central funding

https://indianexpress.com/article/political-pulse/govt-to-merge-agricultural-schemes-link-funds-to-state-reforms-10468148/

Centre Proposes PM-RKVY Restructuring with ₹1.75 Lakh Crore Outlay (2026–31) – Key facts Read More »

Why Does the USA Want to Acquire Greenland? Strategic, Economic & Geopolitical Reasons Explained

Leave a Comment / Daily Current Affairs, International Current Affairs / Team PSC Chronicles

Why in News?

United States has expressed interest in acquiring Greenland as part of its strategic foreign policy goals.

Greenland:

Greenland is an autonomous territory of Denmark, though it was once a Danish colony. It is the world’s largest island and located in the North Atlantic Ocean, near Canada. The region gained strategic importance during the Cold War due to its proximity to Russia

Importance of Greenland to USA:

Greenland is strategically located between North America and Europe, making it geopolitically crucial.
The US already operates the Pituffik Space Base (formerly Thule Air Base) in Greenland.
The island is rich in rare earth minerals, essential for modern technology and defense.
Arctic ice melting is opening new trade routes, increasing global competition in the region.
The US aims to counter the growing influence of China and Russia in the Arctic.

https://www.bbc.com/news/articles/c74x4m71pmjo

Why Does the USA Want to Acquire Greenland? Strategic, Economic & Geopolitical Reasons Explained Read More »

Padma Awards 2026: 131 Awardees Announced | Padma Vibhushan List & Key Facts for Exams

Leave a Comment / Daily Current Affairs, National Current Affairs / Team PSC Chronicles

Why in News?

The Government of India has announced 131 Padma Awards on the eve of Republic Day 2026. The awards include 5 Padma Vibhushan, 13 Padma Bhushan, and 113 Padma Shri recipients.

Key Highlights:

Conferred by the President of India.

Total Awards (2026)

Padma Vibhushan – 5
Padma Bhushan – 13
Padma Shri – 113

Padma Vibhushan 2026 Awardees:

Dharmendra Singh Deol (Posthumous) – Art – Maharashtra
K T Thomas – Public Affairs – Kerala
N Rajam – Art – Uttar Pradesh
P Narayanan – Literature & Education – Kerala
V S Achuthanandan (Posthumous) – Public Affairs – Kerala

About Padma awards:

Instituted in 1954
Among the highest civilian awards in India, after the Bharat Ratna.
Padma Vibhushan – Exceptional and distinguished service (2nd highest civilian award)
Padma Bhushan – Distinguished service of a high order (3rd highest)
Padma Shri – Distinguished service in any field (4th highest)

https://www.pib.gov.in/PressReleasePage.aspx?PRID=2218547&reg=3&lang=1

Padma Awards 2026: 131 Awardees Announced | Padma Vibhushan List & Key Facts for Exams Read More »

Kaamya Karthikeyan became youngest Indian to reach south pole:

Leave a Comment / Daily Current Affairs, National Current Affairs / Team PSC Chronicles

Why in News?

Kaamya Karthikeyan, an 18-year-old from Mumbai, has become the youngest Indian to reach the South Pole. She has also achieved the remarkable feat of scaling the Seven Summits (highest peaks on each continent)

Seven summits:

The Seven Summits challenge involves climbing the highest mountain on each of the seven continents. The seven summits (Continent-wise Highest Peaks) are:

Asia: Mount Everest (8,848 m / 29,029 ft) – Located on the border of Nepal and China, it is the highest point on Earth.
South America: Aconcagua – Located in Argentina, it is the highest peak in the Western and Southern Hemispheres.
North America: Denali – Formerly known as Mount McKinley, it is located in Alaska, USA.
Africa: Mount Kilimanjaro – A dormant volcano in Tanzania, it is the highest free-standing mountain in the world.
Europe: Mount Elbrus – An inactive volcano in the Caucasus Mountains of Russia.
Antarctica: Vinson Massif – The most remote of the summits, located in the Sentinel Range.

Kaamya Karthikeyan became youngest Indian to reach south pole: Read More »

Parakram Diwas 2026: Netaji Subhas Chandra Bose Birth Anniversary | Key Facts for UPSC, State PSC and other competitive Exams

Leave a Comment / Daily Current Affairs, National Current Affairs / Team PSC Chronicles

Why in News?

Parakram Diwas is observed every year on January 23 to mark the birth anniversary of Subhas Chandra Bose.

Subhash Chandra Bose Aapda Prabandhan Puraskar:

Subhash Chandra Bose Aapda Prabandhan Puraskar award established to recognize individuals and institutions for their outstanding service in the field of disaster management.

Instituted in 2019, the award is announced annually on January 23rd, the birth anniversary of Netaji Subhash Chandra Bose (celebrated as Parakram Diwas).

Recent awardees are:

Institutional Category: Sikkim State Disaster Management Authority
Individual Category: Lt. Col. Seeta Ashok Shelke

Key facts related to Subash Chandra Bose:

Political mentor: Chittaranjan Das
Spiritual influence: Swami Vivekananda
1938 (Haripura Session): Elected President of the Indian National Congress; set up the National Planning Committee
1939 (Tripuri Session): Re-elected after defeating Pattabhi Sitaramayya, leading to ideological differences with Mahatma Gandhi.
Founded the All India Forward Bloc in 1939.
Took command of the INA (Azad Hind Fauj) in Singapore (originally formed by Mohan Singh)
Formed the Rani of Jhansi Regiment, an all-women combat unit led by Captain Lakshmi Sahgal

https://www.pib.gov.in/PressReleasePage.aspx?PRID=2217989&reg=3&lang=1

Parakram Diwas 2026: Netaji Subhas Chandra Bose Birth Anniversary | Key Facts for UPSC, State PSC and other competitive Exams Read More »

Census 2027: India’s First Digital Census

Leave a Comment / Daily Current Affairs, National Current Affairs / Team PSC Chronicles

Why in News?

The Government of India has officially issued the notification for the 16th National Census, originally delayed from 2021 due to the pandemic. This exercise is critical as it marks a historic shift in India’s demographic data collection, introducing digital-first methodology and the first nationwide caste count since 1931.

Key Highlights of Census 2027:

The Census will be executed in two distinct phases to ensure comprehensive data accuracy

Phase I: House-listing & Housing Census (April – September 2026): Each State and Union Territory will designate a 30-day window within this period to identify and list residential structures across the country.
Phase II: Population Enumeration (February 2027): The actual counting of individuals and collection of socio-economic data will occur during this month.

Major Policy Shifts:

Digital Transformation: This is India’s first “Paperless Census.” Data will be collected via mobile applications.
Caste-Based Enumeration: In a landmark decision, the 2027 Census will include a specific count of castes. While the 1931 Census was the last to do this nationwide, this is the first time in Independent India that such data will be collected during the general census

Static General Knowledge Link: Key Facts

Nodal Ministry: Ministry of Home Affairs (MHA).
Conducted by the Office of the Registrar General and Census Commissioner of India.
Governed by the Census Act, 1948
1872: The first non-synchronous census was conducted under Lord Mayo.
1881: The first synchronous (complete and simultaneous) census was held under Lord Ripon.
2027 Edition: This will be the 16th Census of India overall and the 8th Census since Independence.
Seventh Schedule: The Census is a Union Subject listed under Entry 69 of List I.

https://www.pib.gov.in/PressReleasePage.aspx?PRID=2202983&reg=3&lang=1

Census 2027: India’s First Digital Census Read More »