CURRENT AFFAIRS

The Cabinet Committee on Economic Affairs (CCEA) has approved Minimum Support Price (MSP) funding for the Cotton Corporation of India (CCI) for the cotton season 2023–24 to support farmers and stabilise market prices.

Rising global energy shocks—triggered by geopolitical conflicts and potential disruptions such as the closure of the Strait of Hormuz—are exerting pressure on India’s inflation, rupee stability, and economic growth.

The Prime Minister of India recently inaugurated the Lower Kopili Hydroelectric Project, marking a significant step toward enhancing renewable energy capacity in Northeast India.

India is increasingly exploring electric cooking solutions as a viable alternative to LPG due to rising import dependence and costs. The country spends nearly $26.4 billion annually on LPG imports, much of which passes through the Strait of Hormuz.

Amid disruptions in global energy supply routes near the Strait of Hormuz, the Government of India invoked the Essential Commodities Act to ensure the availability of cooking gas in the country.

The Jyotiraditya Scindia recently inaugurated a Samriddhi Kendra in Umri Village under the Samriddh Gram Phygital Services Pilot Initiative.

India’s rapid growth in renewable energy capacity—now exceeding 262 GW and accounting for over 51% of total installed power capacity—is creating operational challenges for the national power grid.

India may face a potential Liquefied Petroleum Gas (LPG) supply shortage due to rapidly rising consumption and heavy reliance on imports without adequate strategic storage capacity.

The Government of India has approved a ₹117.54 crore renovation project for the bascule bridge at the Syama Prasad Mookerjee Port in Kolkata.

India has released a revised Gross Domestic Product (GDP) series with 2022–23 as the new base year, replacing the earlier base year of 2011–12.

The revised estimates prepared by the National Statistical Office indicate a modest reduction in the estimated size of the economy and notable changes in sectoral contributions, although the overall growth trend remains broadly similar.