Indian Government Policies & Developments Dec 2024 PDF

DEC 25 Guidely The central government aims to reduce the fiscal deficit to below **4.5%** of GDP by FY26, continuing its glide path of fiscal consolidation set out in the FY22 Budget. FY25 Fiscal Deficit (Target and Actual):Target: The fiscal deficit for FY25 is targeted at **5.9%** of GDP (3% i...

DEC 25 Guidely The central government aims to reduce the fiscal deficit to below **4.5%** of GDP by FY26, continuing its glide path of fiscal consolidation set out in the FY22 Budget. FY25 Fiscal Deficit (Target and Actual):Target: The fiscal deficit for FY25 is targeted at **5.9%** of GDP (3% in terms of GDP). The **Government of India (GoI)** and the **Asian Development Bank (ADB)** signed a **\$500 million** loan agreement to support **green and sustainable infrastructure projects** aligned with India's climate commitments. The loan, with a sovereign guarantee, will be extended to the **India Infrastructure Finance Company Limited (IIFCL).** ** ** The 2025 Republic Day Tableaux theme has been announced as **\"Swarnim Bharat: Virasat aur Vikas\" (Golden India: Heritage and Progress)**, highlighting the nation's rich heritage and forward-looking development**.** **15 States and 11 Ministries Selected** Jawaharlal Nehru Port Authority Switzerland-based **Terminal Investment Limited Sarl** (TIL) has proposed to invest an estimated Rs 20,000 crore for the development of the **Vadhvan Port** and the surrounding ecosystem ( Maharashtra). Lieutenant governor (LG) **VK Saxena** approved the enhancement of the threshold limit of annual income from **₹2.5 lakh to ₹5 lakh** for EWS (economically weaker sections) and disadvantaged groups for admissions to private schools. The Central Government has eliminated the **\"nodetention policy\"** for **classes** **5 and 8** in schools under its control. This move allows failing students to be retained in the same grade if they do not pass their year-end tests. The **\"No Detention Policy\"** was a provision under the **Right to Education (RTE) Act, 2009**, which mandated that no student should be held back or failed in a grade until **Class 8**. Union Agriculture Minister **Shivraj Singh Chouhan** announced the central government\'s plan to develop a scheme aimed at reducing transportation costs for farmers. **India** and the **European** **Free** **Trade** **Association** (**EFTA**) signed the **Trade and Economic Partnership Agreement (TEPA)** in **March** **2024**, aiming to boost trade and investment. The EFTA bloc **(Switzerland, Iceland, Norway, and Liechtenstein)** has committed to investing **\$100** **billion** in India over the next 15 years, which is expected to create **1 million jobs**. External Affairs Minister (EAM) **S. Jaishankar** will visit the United States (US) from December 24-29,2024 marking the first high-level visit from India after Donald Trump won the US presidential election. **Masali**, a village in **Banaskantha** district, **Gujarat**, has become the first \"**border** **solar** **village**\" in India. The transformation was achieved by completing solar rooftop installations in all **199** houses under the **Pradhan Mantri Surya Ghar Muft Bijli Yojana**. The Pradhan Mantri Surya Ghar Muft Bijli Yojana is the world\'s largest domestic rooftop solar initiative. Small, new businesses may get GST registration within 3 working days. **Lohia** **Auto** announced the launch of EV brand **\'Youdha\'** as part of its **Rs** **20**-**crore** expansion plans and it looks to manufacture and **sell 3 lakh** electric vehicles under the brand by **2027**. **Santosh Ajmera**, an Indian Information Service (IIS) officer of the 2008 batch, has won an **international Electoral award** for effectively engaging citizens during the country\'s general elections. Former Supreme Court judge **V. Ramasubramanian** has been appointed as the new chairperson of the **National Human Rights Commission (NHRC).** ** Honda Motor Company**, **Nissan Motor**, and **Mitsubishi Motors** announced plans to **merge** and co-develop future products, aiming to form a holding company that could potentially become the **third-largest auto group globally**. India is expected to achieve its **first orbital launch in 2025**. Start-ups like **Skyroot** and **Agnikul** are anticipated to complete their sub-orbital launches ahead of this milestone. Indian Space Research Organisation (ISRO) successfully conducted the sea-level hot test of its **CE20 cryogenic engine**. Good Governance Day 2024 is observed on the 25th of December 2024. **YES OFFICER** DBS Bank launches overseas education solutions. Beneficiary: Non-resident Indians (NRIs) and high net-worth individuals (HNIs) Aim: To navigate the challenges of overseas education This programme is tailored to support DBS Treasures customers. RBI spent **\$44.5 billion** to defend rupee in October. The Reserve Bank of India\'s (RBI) combined intervention in forward and spot currency markets was worth \$44.5 billion in October 2024. World Economic Forum Annual Meeting 2025 to be held in **Davos**, **Switzerland** from **January 20th to 24th, 2025**. 2025 theme: **Collaboration for the Intelligent Age**. India's First National Highway constructed using **Bio- Bitumen** material Name of project: **Nagpur-Mansar Bypass project** Inaugurated by: Union Minister **Nitin Gadkari**. Location: **Nagpur District, Maharashtra** National Highway: 44 Bio-bitumen roads are 40% stronger than asphalt Released the 15th Finance Commission (FC) grants for **Uttar Pradesh** and **Andhra Pradesh** for rural development. Released by: Central Government Uttar Pradesh Grants: 1,598 crore rupees Andhra Pradesh Grants: 446 crore rupees Forbes has unveiled its 21st annual list of the World's 100 Most Powerful Women. **Nirmala Sitharaman (Rank 28 overall),** Finance Minister of India ** Roshni Nadar Malhotra** (Rank 81 overall), **Chairperson of HCL Technologies** **and CEO of HCL Corporation** Kiran Mazumdar Shaw (Rank 82 overall), Founder and Chairperson of Biocon. Top Women In That List (2024) 1. **Claudia Sheinbaum** -- **President of Mexico.** ** AIM, UNDP, and Citi Foundation** have launched the 7th edition of the Youth Co:Lab National Innovation Challenge for 2024-2025. Focus: On innovations that enhance opportunities and well-being for Persons with Disabilities (PwDs) Implementation Partner: **AssisTech Foundation (ATF)** Theme: **"Enhance Access to Opportunities and Well-Being for Persons with Disabilities.** **PM Modi** will lay the foundation stone of **Ken- Betwa river** linking national project. It is the country's **first** interlinking of rivers project under national perspective plan. This project will provide irrigation facilities to various districts in **Madhya Pradesh** and **Uttar Pradesh** benefitting lakhs of farmer families. The cost of this project is **Rs 44,605 crores**. 136-year-old historic Bhilai railway station undergoes renovation. Good Governance Day 2024 Date: 25th December Madhya Pradesh Named "Go-To Global Destination for 2025" by WSJ (Wall Street Journal) SMFG India Credit and Grihashakti named among top 50 companies with Great Managers in 2024. **Jaishankar** Receives **Sri Chandrasekarendra Saraswathi Award for Leadership** **f**rom the **South Indian Education Society (SIES)** for his exceptional contributions to India\'s foreign policy and global leadership**.** Name of Book**: The Unyielding Judge**: The Life and Legacy of Justice A.N. Grover Launched by: Attorney General R. Venkataramani Justice A.N. Grover was known for his role in the Kesavananda Bharti case (1973). IIT Madras launches AMOLED research centre To develop next generation Amoled displays for smartphones, tablets, watches and wearables. Vijay Hazare Trophy: **Anmolpreet Singh** smashes fastest 100 by an Indian (Punjab) Scored a 35-ball hundred Record: Former India all-rounder Yusuf Pathan, who had scored a hundred off 40 balls for Baroda against Maharashtra in 2009-10.