It is important to prepare well for general awareness for banking exams. There are several topics that are covered in the general awareness section. One of the topics that are important to understand the economy. The questions that are mostly asked are related to the current affairs. Thus, it is important to know the latest happenings and Indian economy news. Below here are some of the latest news that you should know for the exams.
Indian Economy News
NIIF – Planning to set up platforms in order to invest in the road projects
Different Indian economy news that is trending. Global transporter Road is and Nation investment and infrastructure fund which is also known as NIIF has set up a platform. In this platform, they are planning to invest up to $2 billion in road projects for India.
Furthermore, this project is based on the model of toll operate and transfer. Currently, there are three capital funds through which NIIF is managing its capital. They are a master fund, fund of funds, and strategic funds. In recent years, funding by NIIF has attracted a lot of traction.
Also, most public sector banks are struggling to keep up with IL&FS and toxic assets.
Transformation of India’s Electric Mobility
There is a report recently published that talks about the mobility of India’s electric transformation. This report analyzes the opportunities that lie within the government and automobile sector. Also, this report is under the Fame II scheme (faster adoption and manufacturing electric vehicles).
So, because of this scheme, there will be considerable savings in energy and CO2. Also, in this scheme vehicles like two, three, and four-wheelers are covered.
The electric buses that are covered in this scheme will have accounted for more than 3.8 billion kilometers in their lifetime. Thus, in order to capture this, batteries have to remain a focal point. Because batteries will be a key driver in the electric vehicles.
Also, India needs to have active participation in the automobile industry so to easier adoption of electric vehicles.
RBI cuts the interest rate
In what is supposed to reduce the interest rates for loans, RBI has cut down the interest rate with 25 basis points from 6.25 to 6. Earlier RBI has predicted GDP for the financial year 2019-20 to be 7.2 percent. Also, in the current year, RBI has projected the growth to be in the region of 6.8 to 7.1 percentage.
While for the second year, the range was expected to be around 7.3 to 7.4 percent. Also, inflation is likely to remain the same in the short term. Furthermore, RBI predicted the monsoon to be normal and thus CPI inflation is likely to be around 2.4 percent.
PMI reports the manufacturing growth to be at its six month low
There were new orders in manufacturing, production, but the activities slowed down in March which are at its six month low. Thus, PMI slipped from its February target 54.3 to 52.6 in March. So, this highlights the low momentum in growth.
Also, it has been noticed that despite improvement in the Indian manufacturing industry, on a wider scale there is slower growth. Thus, job creation was eased in March. Production and factory orders saw it’s the slowest pace in September.
Practice Questions on Economics News
Q. Which city in India hosted ICT Academy Bridge 2019?
D. New Delhi
Answer: B. Chennai