News: U.S.A recently announced a 100% Ad Valorem Duty on the import of patented pharmaceuticals and associated ingredients from 31st July 2026. About Ad Valorem Duty Ad valorem duty is a tax imposed depending on the monetary value of an item or property. How it is levied: It is levied as a percentage of the assessed value… Continue reading Ad Valorem Duty
Category: Factly – Indian Economy
This category contains all Current Affairs Factly Articles for Prelims, related to the Indian economy. You can find all relevant Economy updates on this page. This page is specifically useful for UPSC Prelims exam.
Kar Saathi AI Website and PRARAMBH Programme
News: The Income Tax Department launched ‘Kar Saathi’ website to simplify tax processes and support transition to the Income Tax Act, 2025. About Kar Saathi AI Website Kar Saathi is an AI-powered digital assistant integrated into the revamped income tax portal for guidance and compliance support. Launched by: It is launched by the Income Tax… Continue reading Kar Saathi AI Website and PRARAMBH Programme
Non-Deliverable Derivative (NDD) Market
News: The Reserve Bank of India barred banks from NDD contracts in rupee to curb misuse, stabilize currency, and improve transparency. About Non-Deliverable Derivative (NDD) Market An NDD is a derivative contract where parties agree on a future rupee exchange rate but settle differences in cash, usually in US dollars. Mechanism Agreement on Exchange Rate:… Continue reading Non-Deliverable Derivative (NDD) Market
Rebate of State and Central Taxes and Levies (RoSCTL) Scheme and Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme
News: The Ministry of Textiles has extended the Rebate of State and Central Taxes and Levies Scheme (RoSCTL) for apparel exports and continued the Remission of Duties and Taxes on Exported Products Scheme (RoDTEP) till 30 September 2026. About Rebate of State and Central Taxes and Levies (RoSCTL) Scheme It is a scheme to rebate… Continue reading Rebate of State and Central Taxes and Levies (RoSCTL) Scheme and Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme
Maternal Mortality
News: A recent Lancet study highlights slowing progress in reducing Maternal Mortality Ratio and challenges in achieving the SDG 2030 target. About Maternal Mortality Maternal Mortality Ratio: It refers to the number of maternal deaths per 100,000 live births in a given time period. India aims to reduce Maternal Mortality Ratio to below 70 deaths… Continue reading Maternal Mortality
Bhavasagara
News: The Ministry of Environment, Forest and Climate Change designated CMLRE’s “Bhavasagara” Referral Centre as a National Repository for Deep-Sea Fauna. About Bhavasagara Bhavasagara is a specialized scientific hub and National Repository for preservation, study, and documentation of deep-sea marine life, officially designated on March 30, 2026. Aim : It aims to provide a foundational… Continue reading Bhavasagara
Energy Statistics India 2026
News: The National Statistics Office released Energy Statistics India 2026, presenting updated data on reserves, production, consumption, trade, and energy sector trends. About Energy Statistics India 2026 It is an annual publication providing an integrated dataset on India’s energy sector covering major energy resources. Released by: It is released by the National Statistics Office under… Continue reading Energy Statistics India 2026
Carpet Industry of India
News: Key global carpet exhibitions are being postponed and cancelled due to ongoing geopolitical conditions, which will impact the exports of carpets from Kashmir, overall affecting the Carpet Industry of India. About Carpet Industry of India The Indian carpet industry includes handmade carpets, handloom carpets, coir carpets, silk carpets, and floor coverings. Currently, India is… Continue reading Carpet Industry of India
OPU–IVF–ET technology and Cattle Breeds
News: The Indian Veterinary Research Institute, Bareilly, has successfully produced five healthy Sahiwal calves, including a female, through test-tube embryo transfer (OPU–IVF–ET) technology. About OPU–IVF–ET technology The ‘OPU–IVF–ET’ technology stands for ‘Ovum Pick-Up (OPU) and In Vitro Fertilization (IVF) and Embryo Transfer. Mechanism of technology In this process, mature eggs are collected from animals using… Continue reading OPU–IVF–ET technology and Cattle Breeds
e-Commerce Moratorium
News: The e-Commerce Moratorium is to be reconsidered for extension at the 14th Ministerial Conference in Yaounde, Cameroon. About e-Commerce Moratorium The e-commerce moratorium is a global agreement among World Trade Organization members which bans customs duties being applied to electronic transmissions such as digital downloads and streaming. First adopted in: It was first adopted… Continue reading e-Commerce Moratorium
