Union Finance Minister Nirmala Sitharaman on March 10 tabled the Budget for financial year 2025-26 (FY26) for the state of Manipur with a total expenditure of ₹35,104 crore, up 7.5 per cent from the revised estimates of FY25.
Category: Economy
Budget of a State under the President’s Rule
RBI to set up ‘On Tap’ cohort on climate change risks
The Reserve Bank of India (RBI) will set up a dedicated ‘on Tap’ cohort on climate change risks and sustainable finance under its regulatory sandbox initiative. Thematic Cohorts and the ‘On Tap’ Cohort (Source: Business Standard)
Govt. notifies 10-year Zero Coupon Bond of Power Finance Corporation
The Union Finance Ministry has notified Zero Coupon Bond (ZCB) for Power Finance Corporation. The company can raise up to ₹10,000 crore. Key Highlights: What is a Zero Coupon Bond (ZCB)? What is a Bond? (Source: Business Line)
RBI invites applications for SRO for Account Aggregators
RBI invites applications for a Self-Regulatory Organisation (SRO) to oversee the Account Aggregator (AA) ecosystem. What is the Account Aggregator (AA) Framework? Regulatory Oversight: Regulated by multiple entities: (Source: Financial Express)
CSR spending rises 13% in 2022-23
India Inc’s annual corporate social responsibility (CSR) spending saw a 13 per cent rise in 2022-23. More than half of this expenditure was directed towards education and healthcare, Harsh Malhotra, Minister of State for Corporate Affairs, informed the Lok Sabha in a written reply. Trends in CSR Expenditure: This consistent increase in CSR spending highlights corporates’ growing commitment to nation-building through social investments. Legal Framework for CSR in India: CSR Read More …
Multi-Modal Logistics Park (MMLP) in Varanasi
On March 11, 2025, a Memorandum of Understanding (MoU) was signed between National Highways Logistics Management Limited (NHLML) and the Inland Waterways Authority of India (IWAI) to develop a state-of-the-art Multi-Modal Logistics Park (MMLP) in Varanasi, Uttar Pradesh. Key Highlights of the MMLP in Varanasi: (Source: DD India)
New Credit Assessment Model for MSMEs
On March 6, Union Finance Minister Nirmala Sitharaman launched the New Credit Assessment Model for MSMEs at a post-Budget interaction in Visakhapatnam. This initiative, announced in the Union Budget 2024-25, marks a strategic shift for public sector banks (PSBs): (Source: Business Standard)
World Spice Organisation (WSO)
Despite being the largest producer and exporter of spices, India holds only 0.7% share in the global seasoning market—a market valued at $14 billion in 2024—compared to China’s 12% and the U.S.A.’s 11%, according to Ramkumar Menon, chairman of the World Spice Organisation (WSO). Key Points (Sources: The Hindu & WSO)
Modified Ethanol Interest Subvention Scheme
The Department of Food & Public Distribution (GoI) has notified a new scheme to support Cooperative Sugar Mills (CSMs) under a modified Ethanol Interest Subvention Scheme. Here are the key points: (Source: PIB)
Urban Challenge Fund
Prime Minister Narendra Modi on 6 March announced creation of a ₹1 lakh crore Urban Challenge Fund, focusing on governance, infrastructure, and financial sustainability given that country’s urban population is projected to reach approximately 90 crore by 2047.
Functioning of RERA ‘disappointing’, says Supreme Court
The Supreme Court of India on March 4, 2025, expressed dissatisfaction with the functioning of the Real Estate Regulatory Authority (RERA), stating that it has failed to effectively protect homebuyers’ investments and promote the real estate sector as originally intended. The remarks came during a hearing on issues concerning delays and disputes in real estate projects. Key Issues with RERA’s Implementation Overview of RERA – A Key Reform in the Read More …
India’s first commercial semiconductor fabrication plant
The India Semiconductor Mission (ISM), Tata Electronics (TEPL), and Tata Semiconductor Manufacturing (TSMPL) have signed a Fiscal Support Agreement (FSA) to build India’s first commercial semiconductor fabrication plant in Dholera, Gujarat. Key Details of the Tata Semiconductor Fab Strategic Importance
India Secures Copper & Cobalt Mining Block in Zambia
On February 27, the Indian government announced securing a 9,000-sq-km block in Zambia for copper and cobalt exploration. This strategic move comes as domestic copper production declines, pushing India to establish overseas mining operations. Global Copper Supply Challenges Copper’s Importance & Global Production India’s Domestic Copper Scenario (Business Line and Ministry of Mines)
Punjab top performer in Agriculture Infrastructure Fund (AIF)
Punjab’s achievement in fully utilizing its Rs 4,713 crore allocation under the Agriculture Infrastructure Fund (AIF) showcases its strong commitment to enhancing agricultural infrastructure. With this, Punjab ranks first in the country in implementing the scheme and has been rewarded with an additional Rs 2,337 crore allocation. Key Highlights of the AIF Scheme Punjab’s Success in AIF Implementation (Source: Indian Express & PIB)
IRCTC and IRFC get the ‘Navratna’ status
The Department of Public Enterprises (DPE) of the Ministry of Finance approved on March 3 the upgradation of IRCTC and IRFC as the country’s 25th and 26th Navratna companies. This means that all seven listed Central Public Sector Enterprises (CPSEs) of the Indian Railways have now achieved Navratna status, out of the total 12 CPSEs under Indian Railways. Key Points: