What is the News? Jammu & Kashmir became the first Union Territory to be onboarded the National Single Window System(NSWS). What is the National Single Window System(NSWS)? The National Single Window System(NSWS) was launched in 2021 by the Union Minister for Commerce and Industry. It is a digital platform that serves as a guide for… Continue reading J&K becomes the first Union Territory to be integrated with National Single Window System
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.
Govt expedites FDI from neighboring countries
What is the News? The Government of India is fast-tracking the approval process for Foreign Direct Investment(FDI) from countries that share a land border with India. Background In April 2020, the Government of India had made prior government approval mandatory for foreign direct investments(FDI) from countries that share a land border with India or where… Continue reading Govt expedites FDI from neighboring countries
Union Minister Flags Off NITI Aayog’s Fintech Open Summit
What is the News? The Minister for Communications, Electronics and IT inaugurated the Fintech Open Summit. What is the Fintech Open Summit? Organized by: NITI Aayog in collaboration with PhonePe, AWS and EY. Aim: To bring together regulators, fintech professionals, industry leaders, start-up community and developers to collaborate, exchange ideas and innovate. Objectives of the… Continue reading Union Minister Flags Off NITI Aayog’s Fintech Open Summit
Parvatmala-An efficient and safe alternate transport network
What is the News? In Union Budget 2022-23, Union Finance Minister has announced that the National Ropeways Development Programme – “Parvatmala” will be initiated through Public-Private Partnership (PPP) mode. What is the National Ropeways Development Programme? Nodal Ministry: Ministry of Road Transport and Highways (MORTH) Aim: To develop Ropeways in hilly areas of the country… Continue reading Parvatmala-An efficient and safe alternate transport network
Surety bonds: Slow take-off likely as pricing, reinsurance concerns remain
What is the News? In Budget 2022-23, the government has allowed the use of surety insurance bonds as a substitute for bank guarantees in case of government procurement and also for gold imports. What are Surety Bonds? A surety bond is a legally binding contract entered into by three parties—the principal, the obligee and the… Continue reading Surety bonds: Slow take-off likely as pricing, reinsurance concerns remain
Confusion in the crypto universe: Budget leaves many unanswered questions
Contents1 What is the News?2 What are the announcements made by the Government related to the crypto ecosystem?3 What are those unanswered questions related to the crypto announcements in the Budget?4 What are the Unanswered Questions regarding digital rupee? What is the News? The Union Budget 2022 has made several announcements related to the cryptocurrency… Continue reading Confusion in the crypto universe: Budget leaves many unanswered questions
Explained: Fast-tracking Vande Bharat
What is the News? In Budget 2022, the Finance Minister has announced that 400 Vande Bharat trains will be manufactured in the next three years. What are Vande Bharat Trains? Vande Bharat is a semi-high speed train. Currently, two Vande Bharat trains are currently in operation, Delhi-Varanasi and Delhi-Katra. They are self-propelled trains that do… Continue reading Explained: Fast-tracking Vande Bharat
Cryptocurrency tax: Budget 2022 unveils norms for virtual digital assets
What is the News? In Budget 2022, the Finance Minister has announced several norms for virtual digital assets. What are the steps announced by the Finance Minister for crypto assets? Digital Rupee: Reserve Bank of India will launch a Digital Rupee – India’s version of a Central Bank Digital Currency (CBDC) by 2022-23. The CBDC will… Continue reading Cryptocurrency tax: Budget 2022 unveils norms for virtual digital assets
Budget 2022: Auctions By March, Rollout By FY23 Govt lays ground for 5G rollout; pushes rural broadband deadline to 2025
What is the News? In the Budget 2022, the Union Finance Minister has announced several initiatives in the Telecom Sector. What are the initiatives announced by the Finance Minister in the Telecom Sector? Firstly, the Government will hold an auction for the 5G spectrum in 2022, but the implementation of services will happen in 2022-2023. … Continue reading Budget 2022: Auctions By March, Rollout By FY23 Govt lays ground for 5G rollout; pushes rural broadband deadline to 2025
MHA budget hiked by 11 per cent, lion’s share of allocation for police
What is the News? Finance Minister has announced the budget for 2022-23. The budget provided ample allocation for internal security. About the allocation of budget for internal security Ministry of Home Affairs (MHA): In the Union Budget for 2022-23, 1.85 lakh crore has been allocated to MHA. This is an increase of 11% over the… Continue reading MHA budget hiked by 11 per cent, lion’s share of allocation for police
