Business, Economy & Banking Current Affairs MCQs

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The Union Government plans to add Hydroponics, Aquaponics, Vertical Farming, and Precision Agriculture to the Mission for Integrated Development of Horticulture (MIDH). MIDH is a Central Sponsored Scheme started in 2014-15 for the holistic growth of the horticulture sector. It promotes the cultivation of various crops, including fruits, vegetables, mushrooms, spices, flowers, coconut, cashew, cocoa, and bamboo. The mission also offers technical advice and support to State Governments and State Horticulture Missions for the Saffron Mission and other horticulture activities under Rashtriya Krishi Vikas Yojana (RKVY).

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The New Agriculture Wealth Opportunities – Driving Horticulture Agribusiness Networking (NAWO-DHAN) scheme aims to boost food crop production in Kerala. It engages farmer groups through Service Level Agreements (SLA) without transferring land ownership. The initiative targets unused land and addresses a significant production-demand gap in fruits and vegetables. The Kerala Agro Business Company (KABCO) facilitates this project, encouraging investment in high-tech agriculture while ensuring that income from farming remains non-taxable.

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India is projected to lead the G20 in 2024 with a 7% GDP growth rate, reflecting its robust and fast-growing economy. Indonesia ranks second with 5%, followed by China at 4.8%. Russia (3.6%) and Brazil (3%) rank fourth and fifth, with the African region also at 3%. The US is at 2.8%, while Canada (1.3%) and Australia (1.2%) show slower growth. France, the EU, and the UK are at 1.1%, Italy at 0.7%, and Japan at 0.3%. Germany has zero growth, the lowest among advanced countries. The G20 Summit in Brazil focuses on hunger, poverty, inequality, sustainable development, and governance reforms.

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Prime Minister Narendra Modi inaugurated a 100 TPD cattle dung-based Compressed Bio-Gas (CBG) plant in Gwalior. The plant is located in Adarsh Gaushala, Laltipara, Gwalior, operated by the Gwalior Municipal Corporation. Adarsh Gaushala is home to over 10,000 cattle and is India’s first modern, self-sufficient gaushala. The plant converts cattle dung and organic waste, like vegetable and fruit scraps, into biogas. It is the first CBG plant in Madhya Pradesh, promoting the “Waste to Wealth” initiative and sustainability.

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The central government announced that corporate exits are now processed in 70-90 days under the Centre for Processing Accelerated Corporate Exit (C-PACE). It was established by Ministry of Corporate Affairs (MCA). It operates under the Registrar of Companies (RoC) and is supervised by the Director General of Corporate Affairs (DGCoA). It is located at the Indian Institute of Corporate Affairs, Gurgaon. It aims to ease doing business, reduce registry burden, and provide hassle-free, timely company closures.

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Vadhavan greenfield port near Dahanu, Maharashtra, will double India’s container trade upon completion. It is an all-weather deep draft major port located in Palghar district, Maharashtra. It is developed by Vadhavan Port Project Limited (VPPL). VPPL is a joint venture between Jawaharlal Nehru Port Authority (74% share) and Maharashtra Maritime Board (26%). The project cost is ₹76,220 crore, with completion targeted by 2034. It will feature nine container terminals, multipurpose, liquid cargo, Ro-Ro, and Coast Guard berths.

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Indian Railways introduced the AI-powered Linen Inspection and Sorting Assistant (LISA) to improve linen hygiene in air-conditioned coaches. LISA, developed by the Pune Division, operates at the Ghorpadi Integrated Coaching Complex (GICC). It ensures 100% quality inspection by detecting defects, stains, or damages in linens. AI technology enables precise and efficient inspection of large linen volumes. The system reduces manual labor, streamlines operations, and enhances passenger comfort. LISA supports cleaner, more hygienic travel experiences while modernizing linen management.

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The National Highways Authority of India (NHAI) has introduced ‘Rajmarg Saathi’, advanced Route Patrolling Vehicles (RPVs) aimed at enhancing road safety and incident management on national highways. Equipped with AI video analytics, these vehicles monitor highway conditions and respond to emergencies. The RPVs will replace vehicles after 300,000 km or three years of operation, ensuring optimal service. This initiative reflects NHAI’s commitment to improving traffic flow and safety for road users across the country.

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Switzerland will suspend the Most-Favoured-Nation (MFN) clause in its Double Taxation Avoidance Agreement (DTAA) with India from January 1, 2025. This may lead to higher tax burdens for Indian companies in Switzerland and Swiss investors in India, affecting bilateral investments. MFN means trade concessions granted to one partner must be extended to all partners, promoting fairness. It aims to replace power-based policies with a rules-based system. Exemptions include bilateral agreements, special access for developing countries, and trade blocs like the EU. MFN can be removed without formal procedure, as seen when India revoked it for Pakistan in 2019.

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A Gujarat-based semiconductor company Suchi Semicon inaugurated Gujarat’s first OSAT (Outsourced Semiconductor Assembly and Testing) plant in Surat. The 30,000-square-foot facility provides assembly, testing, and packaging services for semiconductor components. It supports industries like automotive, consumer electronics, and industrial applications. The plant was inaugurated by Union Minister C.R. Patil and Gujarat’s Home Minister Harsh Sanghavi. This step strengthens India’s position in the global semiconductor supply chain and makes Gujarat a hub for high-tech manufacturing and innovation.