Business, Economy & Banking Current Affairs MCQs

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India has become the world’s second-largest aluminium producer, with a 1.2% increase in production to 10.43 lakh tons in the first quarter of FY 2024-25. This highlights India’s growth in the aluminium sector, just behind China. Additionally, production of other key minerals has risen significantly, with iron ore reaching 79 million metric tons (MMT) and limestone 116 MMT.

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The Asian Development Bank (ADB) has approved a $200 million loan to improve solid waste management and sanitation in 100 Indian cities under the Swachh Bharat Mission 2.0. This funding will be used for building waste processing facilities and community sanitation projects. The agreement, signed by Juhi Mukherjee and Mio Oka, aims to strengthen urban waste management systems and advance India’s environmental and public health goals.

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Bharat Heavy Electricals Limited (BHEL) secured a Rs 10,000 crore contract from Damodar Valley Corporation (DVC) for Koderma Thermal Power Station Phase-II in Jharkhand. The project includes supplying and installing boilers, turbines, generators, and systems. BHEL will also handle civil works and commissioning, emphasizing its crucial role in improving India’s thermal power infrastructure and solidifying its status in the energy sector.

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The Deputy Governor of the Reserve Bank of India (RBI) mentioned that the RBI is reviewing the foreign investment limit in the overnight index swap (OIS) market. OIS is a derivative that swaps fixed interest rates for a predetermined overnight index rate to manage interest rate risk. The OIS rate is calculated daily based on the average overnight lending rate. It allows financial institutions to swap interest rates without refinancing their loans.
One institution swaps a floating overnight rate while the other swaps a fixed short-term rate, settling differences at the end of the agreement.

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The National Coal Index (NCI) declined by 3.48% in June 2024, showing ample coal availability to meet demand. NCI, introduced by the Ministry of Coal, tracks coal prices to determine revenue share in commercial auctions. It considers coking and non-coking coal prices from various sales channels, including imports, relative to the base year 2017-18. The NCI reflects market dynamics and price fluctuations. The recent decline indicates a balanced market, aligning supply and demand.

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According to the Bureau of Energy Efficiency (BEE), Karnataka leads India with 5,765 public EV charging stations, with 85% (4,462) located in Bengaluru Urban district. This puts Karnataka ahead of Maharashtra, Uttar Pradesh, and Delhi in EV charging infrastructure. Energy Minister K.J. George highlighted Karnataka’s commitment to electric mobility, supported by initiatives like the FAME scheme, BESCOM investments, and public-private partnerships. Karnataka introduced India’s first EV policy in 2017 and plans to develop model EV cities statewide. The 2024 State Budget announced 2,500 new EV charging stations via PPP and ₹35 crore investment for 100 more in collaboration with electricity companies.

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Telangana, Tamil Nadu, and Rajasthan recorded the highest growth in real Gross State Domestic Product (GSDP) in FY24 among the 10 largest states. Telangana, the ninth largest state, grew at 9.2%, reaching ₹7.9 lakh crore, surpassing national GDP growth of 8.2%. Tamil Nadu, the third largest state, saw an 8.2% growth, reaching ₹15.7 lakh crore. Rajasthan, the seventh largest state, grew by 8%. GSDP measures the total value of all goods and services produced within a state’s boundaries in a year. GSDP is crucial for understanding a state’s economic growth and development trends over time.

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India has surpassed China in the MSCI Emerging Markets Investable Market Index (IMI), becoming the largest country by weight for the first time. The MSCI Emerging Markets Investable Market Index (IMI) includes large, mid, and small cap stocks from 24 emerging markets. With 3,355 companies, the IMI covers about 99% of the free float-adjusted market capitalization in these countries.

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According to the National Jute Board, jute production is anticipated to decline by 20% in the fiscal year 2024-25 primarily due to natural calamities, with floods significantly impacting cultivation areas in key jute-producing states like West Bengal and Assam; this disruption is expected to considerably affect the overall jute yield.

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India’s first CO2-to-Methanol Pilot Plant was introduced in Pune, Maharashtra, with a capacity of 1.4 tons per day under a Public-Private Partnership supported by the Department of Science and Technology. CO2-to-methanol conversion captures carbon emissions from industrial sources like power plants or directly from the air. The captured CO2 is reacted with hydrogen to produce methanol. This technology helps reduce greenhouse gas emissions and provides a sustainable fuel source. The plant marks a significant step in advancing indigenous Carbon Capture and Utilisation (CCU) technologies, aligning with India’s Panchamrit climate goals.