March 1 marks Zero Discrimination Day, a global initiative championing equality, inclusivity and diversity. It serves as a powerful reminder that everyone, irrespective of age, gender, nationality, ethnicity, skin tone, profession, educational background, beliefs, or any other distinguishing factor, has the right to live a life of dignity and fulfilment.
This annual observance sheds light on discrimination in various forms, encouraging a more just and equitable society. Each year, the day adopts a unique theme to address pressing issues where discrimination persists. This year the theme is “We stand together”.
In May 2022, the General Assembly adopted A/RES/76/265 proclaiming 1 March as World Seagrass Day. The resolution highlights the urgent need to raise awareness at all levels and to promote and facilitate actions for the conservation of seagrasses in order to contribute to their health and development, bearing in mind that enhancing ecosystem services and functions.
Seagrasses are marine flowering plants that are found in shallow waters in many parts of the world, from the tropics to the Arctic circle. Seagrasses have been declining globally since the 1930s, with the most recent census estimating that 7% of this key marine habitat is being lost worldwide per year.
An integrated Tri-Service Special Forces exercise named Exercise Desert Hunt 2025 was conducted by the Indian Air Force at Air Force Station Jodhpur from 24 to 28 February 2025. The exercise involved elite Para (Special Forces) from the Indian Army, the Marine Commandos from the Indian Navy along with the Garud (Special Forces) from the Indian Air Force.
This high-intensity drill was aimed at enhancing interoperability, coordination and synergy among the three Special Forces units to ensure swift and effective response towards emerging security challenges.
India will need to expand at an average 7.8% annually in real terms to realise its goal of emerging as a developed country by 2047, according to a World Bank report released on Friday. But for this to happen, all growth engines, backed by a sustained reforms push, must perform more optimally, it said.
The economy has grown at a healthy pace of 6.3% since 2000 and quadrupled in size, providing it a strong foundation. But a departure from the business-as-usual approach will now be required to emerge as a high-income country. Over the past three fiscal years, India's economy grew an average of 7.2 % per cent, reinforcing its status as the fastest-growing major economy.
In the financial year 2023-24, India’s GDP expanded by an impressive 8.2 per cent, following growth rates of 7.2 per cent in 2022-23 and 8.7 per cent in 2021-22. While the government has set a growth target of 6.4 per cent for the current fiscal year, the World' Bank's report suggested that India must push beyond these figures to meet its long-term ambition.
The RBI has imposed a penalty of Rs 66.6 lakh on The Hongkong and Shanghai Banking Corporation Limited for non-compliance with certain directions including those related to 'Know Your Customer' and 'Interest Rates on Deposits'.
A penalty of Rs 33.1 lakh has also been imposed on IIFL Samasta Finance Limited for non-compliance with certain provisions of the 'Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016' and Know Your Customer (KYC) Directions.
In both cases, RBI said penalties were based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the entities with their customers.
India’s economic growth accelerated to 6.2 per cent in the December quarter of FY25, up from a revised 5.6 per cent in the previous quarter, reversing two consecutive quarters of slowdown. However, significant revisions to past data have left economists perplexed.
Data released by the Ministry of Statistics and Programme Implementation (Mospi) showed the economy is expected to grow at 6.5 per cent in FY25, marginally higher than the 6.4 per cent projected in January. The average GDP growth for the first three quarters of FY25 stands at 6.1 per cent, implying that fourth-quarter growth is assumed at 7.6 per cent.
Alongside the FY25 growth projection, Mospi revised growth estimates for FY23 to 7.6 per cent from 7 per cent and for FY24 to 9.2 per cent from 8.2 per cent. Nominal GDP for FY25 is projected at ~331 trillion, assuming a growth rate of 9.9 per cent, slightly higher than the 9.7 per cent estimated in January’s first advance projections.
In the December quarter, agriculture grew robustly at 5.6 per cent, aided by a steady progression in rabi sowing. Manufacturing growth remained sluggish at 3.5 per cent. Growth in the construction sector slowed to 7 per cent from 8.7 per cent in the September quarter. Growth in private final consumption expenditure accelerated to 6.9 per cent in the December quarter.
In contrast, gross fixed capital formation, a proxy for investment demand, marginally slowed to 5.7 per cent. However, government final consumption expenditure —spending by both the central and state governments —rebounded to 8.3 per cent in the December quarter, recovering from an election-led contraction in the June quarter.
Output in India’s eight core infrastructure sectors, which constitute about 40% of overall industrial production, grew 4.6% in January, mildly slower than the upgraded 4.8% growth recorded in December but still the second highest uptick in six months. The core sectors had grown 4.2% in January 2024.
On a sequential basis, however, the Index of Core Industries (ICI) was up 2.4% from December 2024 with a reading of 173, which marks a 10-month high and indicates the highest output level recorded so far in 2024-25. January’s growth was largely driven by a 14.5% surge in cement production and an 8.3% uptick in refinery products.
The Commerce and Industry ministry also revised upwards core sectors’ growth for October to 3.8% from the 3.1% growth estimated earlier, and November’s growth to 4.4% from 4.3% reported initially. Steel and electricity generation grew 3.7% and 1.3%, respectively, reflecting the slowest growth in four months for both segments.
State-run power giant NTPC on Saturday said the group has achieved its fastest-ever generation of 400 Billion Units (BU) on March 1, 2025, in the FY24-25. This milestone was achieved in just 335 days, 12 days earlier as compared to the last financial year, a company statement said.
In FY23-24, the company had crossed 400 BU generation on 13th March 2024. NTPC Ltd, India’s largest integrated power utility, contributes one-fourth of the country's power requirements. It has an installed capacity of over 77 GW, with an additional capacity of 29.5 GW under construction, including 9.6 GW of renewable energy capacity.
In FY23-24, the company had crossed 400 BU generation on 13th March 2024.
Multilateral financing agency International Monetary Fund (IMF) has said that India will retain its position as the fastest-growing major economy by clocking a GDP growth of 6.5 per cent in 2025-26, on the back of robust private investment and macroeconomic stability.
"Real GDP is expected to grow at 6.5 per cent in 2024-25 and 2025-26, supported by robust growth in private consumption on the back of sustained macroeconomic and financial stability. According to the second advance estimate released by the Indian government, the country's economy is expected to clock a growth rate of 6.5 per cent during 2024-25. "
The policy shifts by the RBI in managing the Indian currency against the US Dollar have significantly impacted the Rupee against the dollar, says a report by Union Bank of India. The intensification of trade war risks and uncertainty surrounding US trade policies have led to market concerns.
In the first two months of 2025, the Indian rupee has already depreciated more than half the depreciation happened in all of 2024. By February 28 the Rupee has depreciated by 1.8 per cent against USD, this decline is already more than the 1.5 per cent depreciation seen in 2023 and nearly half of the 3 per cent depreciation recorded in 2024.
As of FY 2023-24, the United States is India's largest export destination, with Indian exports to the US totalling USD 88.02 billion, making up 17.73 per cent of India's total exports. Any restrictions or new tariffs could impact Indian trade and further pressure the rupee.
The Reserve Bank of India (RBI) on 1 ,March said 98.18 per cent of the ₹2000 banknotes in circulation as on May 19, 2023, have been returned till February 28, 2025. The total value of ₹2000 banknotes in circulation, which was ₹3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of ₹2000 banknotes was announced, has declined to ₹6,471 crore.
The central bank said the facility for deposit and or exchange of the ₹2000 banknotes was available at all bank branches in the country up to October 07, 2023. From October 09, 2023, RBI Issue Offices are also accepting ₹2000 banknotes from individuals / entities for deposit into their bank accounts.
The Reserve Bank of India’s (RBI’s) $10 billion US dollar-rupee buy-sell swap auction for three years received bids worth $16.23 billion, reflecting robust demand amid persistent liquidity deficit in the banking system. This was the second swap auction by the central bank after it infused $5 billion via six month-swap on January 31.
Of the 244 bids, the RBI accepted 161 bids worth $10.06 billion for a tenure of three years. The cut-off premium was set at ₹6.55, which was lower than market expectations. The average premium on accepted bids was Rs. 6.73. The net liquidity in the banking system was in a deficit of ₹1.81 trillion, according to the latest data by the central bank.
India’s foreign exchange reserves rose by $4.7 billion to $640 billion during the week ending February 21, on the back of the rise in foreign currency assets, which rose by $4.2 billion in the previous week, according to the latest RBI data. Gold reserves increased by $426 million during the week.
