Tag: Economy

The “Trends and Progress of Housing in India 2024” report, released by the National Housing Bank, highlights a 14% growth in outstanding housing loans reaching ₹33.53 lakh crore by September 2024. It emphasizes regional disparities in credit flow, housing technologies like 3D printing, and sustainable practices, while showcasing government initiatives such as PMAY-G and PMAY-U to strengthen the housing sector.

The Agriculture Infrastructure Fund (AIF), launched in 2020, is a ₹1 lakh crore initiative aimed at developing post-harvest infrastructure and community farming assets. With a tenure from 2020 to 2030, it supports farmers, FPOs, SHGs, and agri-entrepreneurs to enhance value addition, reduce wastage, and improve rural incomes.

The Lakhpati Didi Initiative under the Deendayal Antyodaya Yojana-NRLM empowers rural women by helping them achieve an annual income of ₹1 lakh. Announced on August 15, 2023, it aims to create 3 crore Lakhpati Didis by 2025, focusing on diversified livelihoods, SHG support, and entrepreneurship, significantly boosting rural economies.

The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister, is responsible for formulating economic policies, approving major investments, and overseeing public-private partnerships. Key initiatives include the Production Linked Incentive (PLI) scheme, infrastructure development projects, and reforms to boost FDI and ease of doing business.

The Competition Commission of India (CCI), established in 2003 and operational since 2009, functions as India’s apex body to ensure fair competition and prevent anti-competitive practices under the Competition Act, 2002. With a Chairperson and six Members, CCI safeguards consumer interests, regulates mergers, and advocates for healthy market dynamics.

The Finance Commission of India, established under Article 280 of the Indian Constitution, defines the financial relations between the central and state governments. With a primary goal of promoting fiscal federalism, the Commission recommends the distribution of tax revenues, allocation of grants-in-aid, and measures to augment state resources. Constituted every five years by the President of India, the Finance Commission consists of a Chairman and four members. Since its inception in 1951, it has played a pivotal role in shaping India’s fiscal policy and maintaining a balanced economic landscape.