SSC CGL - Detailed Guide 2025
Self-Paced Course
Current Economic Affairs
Reference: Lucent GK, NCERT Class 6–12
1. Union Budget Highlights (2024–25)
Presented by: Finance Minister Nirmala Sitharaman
Theme: “Viksit Bharat by 2047” – foundation for Amrit Kaal
Key Announcements:
- Capital expenditure: ₹11.1 lakh crore (↑16.9%) – to boost infrastructure & employment
- Fiscal Deficit target: 5.1% of GDP (↓ from 5.8% in 2023–24)
- No changes in personal income tax slabs
Sector-Wise Highlights:
| Sector | Budget Highlights |
|---|---|
| Railways | ₹2.55 lakh crore allocated – highest ever; focus on Vande Bharat & freight corridors |
| Agriculture | ₹1.27 lakh crore – digital public infrastructure, crop insurance, natural farming |
| Health | ₹90,171 crore – expanding medical colleges & Ayushman Bharat coverage |
| Education | ₹1.26 lakh crore – promoting skill development & digital classrooms |
| Defense | ₹6.21 lakh crore – modernization and indigenization focus |
Key Initiatives:
- Rooftop solar for 1 crore households (free electricity up to 300 units/month)
- Saksham Anganwadi and Poshan 2.0 – for maternal and child nutrition
- Expansion of Lakhpati Didi Scheme – 3 crore rural women to become entrepreneurs
2. Recent Economic Survey (2023–24) – Key Points
Title: “Resilient India – Inclusive Growth”
Macroeconomic Indicators:
- Real GDP growth: Estimated at 7.3% in FY24
- Inflation: Well-contained (avg. CPI ~5.4%)
- Forex Reserves: Over $620 billion
- Services & Manufacturing: Primary growth drivers
Employment:
- PLFS (Periodic Labour Force Survey) data shows increased LFPR (Labour Force Participation Rate)
- MSMEs and self-employment key contributors
Structural Reforms:
- E-Shram, One Nation One Ration Card, PM Gati Shakti
- Digital Public Infrastructure: UPI, Aadhaar, CoWIN model
Climate & Sustainability:
- India on track to meet COP-26 targets
- National Hydrogen Mission progressing steadily
Risks & Concerns:
Global uncertainty (Russia–Ukraine, inflation)
Food security due to climate events
Dependence on imported energy
3. Major Schemes and Economic Initiatives
Atmanirbhar Bharat Abhiyan (Self-Reliant India):
Launched: May 2020 (post-COVID response)
| Pillars | Description |
|---|---|
| Economy | Reforms for long-term growth (FDI, infra) |
| Infrastructure | Gati Shakti, Smart Cities, Roadways |
| Technology-Driven | Digital India, PLI Scheme |
| Demography | Harnessing youth potential |
| Demand | Boost domestic consumption |
Key Components:
- Credit guarantees to MSMEs
- Liquidity support to NBFCs
- Free food under PMGKAY
PLI Scheme (Production Linked Incentive):
- Objective: Boost domestic manufacturing & exports
- Sectors Coveblue: Electronics, Pharma, Telecom, Textiles, Auto, Drones, Solar PV
- Incentive: Financial incentives on incremental production
Jan Dhan Yojana:
- Launched: 2014
- Goal: Financial inclusion
- Achievements:
- 50+ crore bank accounts opened
- Linked with Aadhaar & Mobile (JAM Trinity)
- Enabled DBT (Direct Benefit Transfer)
Mudra Yojana:
- Launched: 2015
- Goal: Provide collateral-free loans to small/micro businesses
- Loan Types:
| Category | Amount Limit |
|---|---|
| Shishu | up to ₹50,000 |
| Kishore | ₹50,001 – ₹5 lakh |
| Tarun | ₹5 – ₹10 lakh |
Over ₹20 lakh crore disbursed since launch
4. Global Economic Rankings (by IMF, WEF, etc.)
GDP Rankings (Nominal GDP – IMF, 2024)
| Country | Rank | Nominal GDP (approx.) |
|---|---|---|
| USA | 1st | $28 trillion |
| China | 2nd | $17.7 trillion |
| Germany | 3rd | $4.7 trillion |
| Japan | 4th | $4.2 trillion |
| India | 5th | $3.9 trillion |
GDP (PPP) Rankings:
| Country | Rank | PPP GDP (approx.) |
|---|---|---|
| China | 1st | $33 trillion |
| India | 3rd | $15.5 trillion |
Human Development Index (HDI – UNDP 2023):
- India’s rank: 134 out of 193
- Category: Medium human development
Global Competitiveness Index (WEF – latest available):
- India’s rank: Around 43rd
- Strengths: Market size, innovation, digital infrastructure
- Concerns: Labor market rigidity, health outcomes
Ease of Doing Business (Discontinued by World Bank):
- Last available rank (2020): India was 63rd (significant jump from 142nd in 2014)
Global Innovation Index (WIPO 2023):
- India’s rank: 40th
- Strong areas: ICT services, R&D talent, start-up ecosystem
Developed By Jan Mohammad
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