Current Affairs - Economy

India's household debt levels reached a historic high of 40% of GDP by December 2023, indicating a significant financial burden on households and highlighting the need for policy interventions to address this issue.

The RBI projects CPI inflation at 4.5% for FY25, as stated by Governor Shaktikanta Das during the Monetary Policy Committee (MPC) announcement. This projection takes into account fluctuations across quarters and emphasizes the importance of maintaining moderate inflation for economic stability.

The World Bank estimates India's GDP growth for FY24 at 7.5%, indicating a robust economic performance. This projection reflects optimism about India's economic activity and potential for growth in the coming fiscal year.

India's Foreign Exchange Reserves rose by $140 million, reaching an all-time high of $642.631 billion during the week ended March 22, reflecting a positive trend in the country's economic stability and financial resilience.

Government e Marketplace (GeM) has achieved a remarkable GMV of ₹4 lakh crore in fiscal year 2023-24, doubling from the previous year. This growth highlights the platform's significant procurement of services and its plans for potential expansion, including opening the portal for consumer use and enhancing services.