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January 08 Indian rupee has been falling constantly and has now crossed a lowest point of Rupees 85 per dollar. This is because of the market phenomena where high demand of dollars makes it costlier than the rupee and hence it falls. But even before market affected the decline of rupee, the RBI has also deliberately devalued rupee in the past. In 1947 the exchange rate was 1 USD to 1 INR. The Indian rupee was devalued for the first time in 1949 and the rupee fell to 4.79 against a dollar. Then in the decade of 1960 and 70s came as a period...
September 03 Government servants have now access to different types of pension schemes. Before it was Old pension scheme or OPS. Since 2004, it was replaced by New Pension scheme or the NPS. Now from April 2025 an unified Pension scheme UPS has been introduced. The OPS was a defined benefit scheme solely for government employees where employees were promised a guaranteed pension based on 50% of your last drawn basic salary, with no employee contributions required. The government fully funded this pension and adjusted it for...
August 05 In 2022, the government launched the Agnipath Scheme for recruiting soldiers called Agniveers across the Three services Army, Navy and Airforce. Under the new scheme, around 45,000 to 50,000 soldiers will be recruited annually. At the end of the four-year contract, 25% of 'Agniveer' will be inducted into the armed forces and rest will be retired with many benefits. What are the benefits? Agniveers will get Rs 30,000-45,000 per month as salary for four years. Upon the completion of the 4-years of service,...
June 15 The NEET is the only entrance exam held each year for students seeking admission to undergraduate medical courses in all medical institutions throughout the country. The National Testing Agency (NTA) conducts this exam which was Earlier conducted by the Central Board of School Education (CBSE). This year, on May 5, over 24 lakh students appeared for NEET exam at 4,750 centres across 571 cities, including 14 international locations. The result was declared on June 4, which immediately caused a hue and cry with...
June 07 The Union Cabinet on 14th June 2022 approved an attractive recruitment scheme for Indian youth to serve in the Armed Forces called AGNIPATH and the youth selected under this scheme will be known as Agniveers. AGNIPATH allows patriotic and motivated youth to serve in the Armed Forces for a period of four years. The AGNIPATH scheme has been designed to enable a youthful profile of the Armed Forces. These Agniveers once enrolled into the Indian Forces will be for a period of four years. Endeavour will be made to...
May 24 Indian Cyber Crime Coordination Centre (I4C) is an initiative of the Ministry of Home Affairs (MHA) to combat cyber crime in the country, in a coordinated and effective manner launched in december 2020. The I4C focuses on tackling issues related to cybercrime for citizens, including improving coordination between various Law Enforcement Agencies (LEAs) and stakeholders. It’s major objectives include To act as a nodal point in the fight against cybercrime Identify the research problems and...
May 23 The National Company Law Tribunal or NCLT is a quasi-judicial body in India adjudicating issues concerning companies in the country. It was formed on June 1, 2016, as per the provisions of the Companies Act 2013 (Section 408) by the Indian government. NCLT was formed based on the recommendations of the Justice Eradi Committee that was related to insolvency and winding up of companies in India. NCLT Functions All proceedings under the Companies Act such as arbitration, arrangements,...
May 15 The Loksabha election 2024 will witness approximately 97 crores eligible voters exercise their democratic rights representing the world's largest elections. As a result of this scale, it also incurs huge cost. Based on previous years' trends, the 2024 election is expected to cost approximately Rs 1,20,000 crore. The US election of 2020 involved a huge cost of about 1 lakh crores. Therefore 2024 elections would become the costliest election in the world. Expenditure during 2019 Lok...
March 19 The government is claiming to make India a developed country by 2047, the year in which India’s independence would complete 100 years. But what is a developed country and how can we imagine India as a developed world? A developed country can be seen as a more mature and sophisticated economy. Developed countries have advanced technological infrastructure and diverse industrial and service sectors. Their citizens typically enjoy access to quality health care and higher education. These economies may not always have a high...
March 05 The Ministry of Statistics and Programme Implementation, Government of India on 24th of February, 2024 released data from the Household Consumption Expenditure Survey (HCES) conducted in 2022-23. The survey which was carried out between August 2022 and July 2023 was the first one after 2011-12. Since 1972, NSSO has been conducting the Consumer Expenditure Survey usually once every 5 years. The Survey shows many things such as what Indian households are consuming and spending on, poverty levels, Consumer Price Inflation basket among...
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