Indian Economy - Current Affairs for February, 2015

Indian Economy Current Affairs for February, 2015

Month wise coverage of Indian Economy Current Affairs helps you improve your general knowledge and prepare for all competitive exams like IBPS, Bank PO, SBI PO, RRB, RBI, LIC, Specialist Officer, Clerk, SSC, UPSC, Railway etc. This section is updated daily with the most important events.

Preparing Indian Economy Current Affairs February, 2015

1. Read the most important Indian Economy Current affairs and facts here. 2. Take practice test of our Indian Economy MCQ and Objective type questions. 3. Clear any quiz, GK, job interview or competitive exam on current affairs.
  • Month & Year   
▼ Growth forecast for India above 8% in Economic Survey 2015-2016   [02-27-15]

The growth forecast is for fiscal year 2015-16 as disclosed in the Survey was 8.1 to 8.5%.

▼ 7 – Number of nodes developing as part of DMIC project   [02-27-15]

These seven nodes will be developed in Manesar-Bawal Investment Region, Haryana (402 sq. km.); Dadri-Noida-Ghaziabad Investment Region, Uttar Pradesh (210 sq. km.); Khushkhera-Bhiwadi-Neemrana Investment Region, Rajasthan (165 sq. km.);Pithampur-Dhar-Mhow Investment Region, Madhya Pradesh (372 sq. km.); Ahmedabad-Dholera Investment Region, Gujarat (920 sq. km.);Shendra-Bidkin Industrial Park, Maharashtra; (84 sq. km.); and Dighi Port Industrial Area, Maharashtra (253 sq. km.).

▼ Zero- Number of new trains announced in Rail Budget 2015-2016   [02-27-15]

With this No increase in Passenger fares was also announced.

▼ 14thFinance Commission recommended separate panel for Domestic Financial Institutions   [02-27-15]

As per the 14th Finance Commission stated that domestic financial institutions (DFIs), such as public sector banks have a dominant role in the financial framework of the economy hence it is recommended that a Financial Sector Public Enterprises Committee (FSPEC) be appointed to examine and recommend parameters for appropriate future fiscal support to financial sector public enterprises.

▼ Y. V. Reddy Committee recommends increasing state share in Centre tax revenue   [02-27-15]

According to an Action Taken Report on the recommendations given by the Commission, the Centre has decided to devolve a much higher share of 42% of the Union’s tax receipts to the States.

▼ FDI in India Doubles from December 2013 to 2014   [02-27-15]

Amongst the top 10 sectors, telecom received the maximum FDI of 2.67 billion dollars in the nine-month period, followed by services 2.29 billion and automobile 1.58 billion. During the period, India received maximum FDI from Mauritius of 5.89 billion dollars, followed by Singapore 4.31billion, and the Netherlands 2.57 billion.

▼ NPCI launches virtual form of RuPay card   [02-24-15]

National Payments Corporation of India (NPCI) is the nodal agency for all retail payment systems under the Pradhan Mantri Jan Dhan Yojana. The physical plastic RuPay card carries a 16-digit number. Under its virtual form, there will be no need of a physical card and a transaction can be done with the help of this 16-digit number alone. Currently, only around 20 per cent of the total transactions of around 8,000 crore rupees are taking place through IMPS or immediate payment service per month.

▼ Inflation fell to-0.39 percent in January 2015   [02-24-15]

It happened due to falling prices of food items. But inflation in food articles remained high. Food inflation rose to scale a six month high of 8 per cent in January, according to government data released on 16th Feb’15.

▼ One Re currency notes to be brought back into circulation by RBI   [02-24-15]

An RBI press release issued from Mumbai has informed that the notes, to be printed by the Government of India will soon be back into circulation. The government had discontinued printing of one rupee notes in November 1994 due to higher printing costs.

▼ New growth forecast for year ending 2014-2015 is 7.4%   [02-24-15]

With this new forecast of annual economic growth it makes India the fastest growing major economy in the world. Under the new method, the economy grew 7.5% in the quarter ending in December 2014, outpacing China’s 7.3% growth in the latest quarter and making India the fastest growing major economy in the world.

▼ 9 PSBs to get Capital Infusion as per Finance Ministry announcement in 2015-2016   [02-24-15]

These banks are SBI, Bank of Baroda, Punjab National Bank, Canara Bank, Syndicate Bank, Allahabad Bank, Indian Bank, Dena Bank and Andhra Bank. Among all SBI would get maximum capital infusion.

▼ Usha Thorat appointed head of the committee for evaluating small finance bank applications   [02-23-15]

She is a former Deputy Governor of RBI.

▼ Bi-monthly monetary policy for first quarter released in April 2015 by RBI   [02-23-15]

The first bi-monthly monetary policy statement for fiscal year 2015-16 was released on 7th April, 2015.

▼ SLR Slashed by 50 Basis Points on 3rdFebruary 2015   [02-23-15]

The RBI has decreased SLR of scheduled commercial banks by 50 bps to 21.5% to improve the liquidity in the market.

▼ Indian core sector growth drops by 2.4% in December 2014   [02-23-15]

Slump in the production of crude oil and natural gas, pushed the growth rate of eight core sector industries to three-month low of 2.4 per cent in December last year.