Daily Current Affairs – Economy

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7 March Current Affairs for RAS

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Summary In March 2025, manufacturing activity, as measured by the seasonally adjusted Purchasing Managers Index (PMI), rose to an eight-month high of 58.1, up from 56.3 in February 2025. A PMI value above 50 indicates expansion, and the metric has shown continuous growth for 45 months. The increase in PMI in March was primarily driven by a rise in new orders, with the new orders index reaching an eight-month high of 61.5. Despite a slight slowdown in international orders, overall...

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SOURCE : THE HINDU  Summary The U.S. has imposed a 27% tariff on goods from India, including seafood, creating a sharp competitive disadvantage for Indian exporters. India, being the largest seafood supplier to the U.S. with a 35% market share, will be significantly affected, especially in comparison to Ecuador, which faces only a 10% tariff. Frozen shrimp, India's top seafood export, forms a major chunk of this trade and is likely to see reduced demand due to increased costs. सारांश...

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SOURCE : THE HINDU  Description: Prime Minister Narendra Modi inaugurated the new Pamban railway bridge in Rameswaram, Tamil Nadu. Built at a cost of ₹531 crore, the 2.07-km-long bridge is India’s first vertical lift sea bridge and replaces the old British-era structure. With a 72.5-metre lift span that rises to 17 metres, it facilitates ship movement and strengthens rail connectivity. The bridge is made with corrosion-resistant materials, enhancing its durability in the saline environment. Modi emphasized the bridge's role in...

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SOURCE : THE HINDU  Description  The Indian government has raised the price of domestic LPG cylinders by ₹50 and increased excise duty on petrol and diesel by ₹2 per litre. However, retail fuel prices remain unchanged. The move aims to help oil marketing companies recover from losses due to international LPG price hikes. Union Minister Hardeep Singh Puri clarified this isn’t linked to recent global tensions, and added that fuel prices may still drop if crude prices continue falling. India...

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  SOURCE : THE HINDU  Description (English): To address inflation, the Centre has increased the material cost under the PM-POSHAN school meal scheme by 9.5%, adding ₹954 crore in expenses for FY 2025–26. Effective May 1, daily meal costs will rise to ₹6.78 for primary students and ₹10.17 for upper primary. The scheme provides hot meals to over 11 crore students across 10.36 lakh schools, with full central funding for foodgrains and transport. States can voluntarily contribute more for enriched...

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  SOURCE : THE HINDU  To achieve a net-zero economy, India must massively electrify energy usage and switch from fossil fuels to low-carbon sources like nuclear, solar, wind, and hydro. Hydrogen will play a key role—especially in steel and fertilizer industries—replacing carbon-based processes. To meet growing demand, India plans to install 100 GW of nuclear power by 2047, including 26 PHWRs of 700 MW capacity. Flexing nuclear power to match variable renewable output is costly and technically challenging. Instead, surplus...

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Source: The Hindu Description India’s creative economy is growing, contributing significantly to exports and employment. However, despite rich traditions of creativity and innovation at grassroots levels, the gap between creativity and innovation remains wide. Global trends show a booming creative economy with over $2 trillion in annual revenue. India must invest in converting creative ideas into scalable innovations, ensure intellectual property (IP) protection, and promote models like “One District, One Innovation.” Empowering local communities through creative solutions and targeted investment...

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   Category: Governance / Social Welfare / Labour Reforms Summary Points: PM Accident Insurance Policy will now cover garage workers in Rajasthan. The decision was taken in the first board meeting of the Road Transport Corporation. Process to link workers with the policy will begin soon.   Detailed Explanation (For RAS Mains): Context of the Policy: The initiative is part of a broader effort by the Rajasthan State Road Transport Corporation (RSRTC) to ensure social security and insurance coverage for...

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  Category: Government Schemes / Economy & Agriculture Shortest Summary Points: ₹88.43 crore assistance transferred via DBT to dairy farmers. ₹5 per litre incentive for milk supplied to cooperative dairies. Nearly 4.5 lakh dairy farmers benefited. ₹200 crore demand proposal sent for pending subsidy (Jan–Apr 2025). ₹500 crore already disbursed under Budget 2024–25.   Detailed Explanation (For RAS Mains): Chief Minister Milk Producer Support Scheme: A Direct Benefit Transfer (DBT) based initiative by the Rajasthan Government. Dairy farmers supplying milk...