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
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.
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
Launch of the Global Center of Excellence in Affordable and Clean Energy (GCoE-ACE) at IIT Dharwad
What is the News? A virtual function was held to mark the launch of the Global Centre of Excellence in Affordable and Clean Energy(GCoE-ACE) at the Indian Institute of Technology, Dharwad (IITDh), Karnataka. What is the purpose of the Global Centre of Excellence for Affordable and Clean Energy (GCoE-ACE)? The Centre has been established with… Continue reading Launch of the Global Center of Excellence in Affordable and Clean Energy (GCoE-ACE) at IIT Dharwad
Udyam System of registration: 6% of MSMEs owned by SC entrepreneurs
What is the News? The Ministry of MSME has released the data regarding the number of Scheduled Caste (SC) owned enterprises covered under the Udyam system of registration. What are the key findings from the data? The proportion of enterprises owned by Scheduled Caste entrepreneurs in the overall national tally of MSMEs is 6%. Maharashtra… Continue reading Udyam System of registration: 6% of MSMEs owned by SC entrepreneurs
Explained: Fed move and Indian markets
What is the News? The US Federal Reserve has announced that it would end its pandemic-era bond purchases and raise interest rates subsequently. Both these measures are aimed at taming inflation, currently at a four-decade high of around 7%. This is likely to impact emerging market economies such as India. How do US Fed actions… Continue reading Explained: Fed move and Indian markets
MoHUA-AFD Launch Swachhata Start-Up Challenge to Nurture the Evolving Ecosystem of Indian Waste Management Sector
Contents1 What is the News?2 What is the Swachhata Start-Up Challenge?2.1 Aim:3 Awards and Prizes: What is the News? The Ministry of Housing & Urban Affairs(MoHUA) in partnership with the Department of Promotion of Industry and Internal Trade (DPIIT) and Agence Française de Développement (AFD) has launched the Swachhata Start-Up Challenge. What is the Swachhata… Continue reading MoHUA-AFD Launch Swachhata Start-Up Challenge to Nurture the Evolving Ecosystem of Indian Waste Management Sector
