What is the News? Competition Commission of India (CCI) has released a report titled ‘Market Study on the Pharmaceutical Sector in India: Key Findings and Observations’. What are the key findings of the report? Pharmaceutical Sector: Globally, India ranks 3rd in terms of pharmaceutical production by volume and 13th by value. Out of Pocket Expenditure(OOPE):… Continue reading Explained: CCI market study on pharma sector
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.
Hon’ble Prime Minister Shri Narendra Modi to inaugurate IFSCA’s InFinity Forum on 3rd December 2021
What is the news? The Indian Prime Minister will inaugurate the “InFinity Forum”, a 2-day thought leadership Forum on FinTech on 3rd December 2021. For the forum, a dedicated Website and Agenda for the InFinity Forum was launched recently. About the InFinity Forum InFinity Forum is IFSCA’s flagship financial technology and global thought leadership event.… Continue reading Hon’ble Prime Minister Shri Narendra Modi to inaugurate IFSCA’s InFinity Forum on 3rd December 2021
‘Tight oil’: What is shale and its potential in India
What is the News? Cairn Oil & Gas has announced that it is partnering with US-based Halliburton to start shale exploration in the Lower Barmer Hill formation, Western Rajasthan. What is Shale Oil? Shale oil is an unconventional oil produced from oil shale rock fragments. How does Shale Oil differ from conventional crude oil? The… Continue reading ‘Tight oil’: What is shale and its potential in India
India, world’s largest recipient of remittances, received $87 billion in 2021: World Bank
What is the News? The World Bank has released its Migration and Development Brief Report. What are the key findings of the report? India is the world’s largest recipient of remittances. It received $87 billion in 2021. India had received over $83 billion in remittances in 2020. Reasons for the increase in Remittances: 1) Migrants… Continue reading India, world’s largest recipient of remittances, received $87 billion in 2021: World Bank
RBI working group warns on digital lending by big tech players
What is the News? A working group set up by the Reserve Bank of India (RBI) has proposed stricter norms for digital lenders. Background RBI had constituted the working group on digital lending including lending through online platforms and mobile apps under the chairmanship of Jayant Kumar Dash, Executive Director, RBI. The working group was… Continue reading RBI working group warns on digital lending by big tech players
Personal guarantors may be part of cross-border insolvency framework under the Insolvency and Bankruptcy Code (IBC)
Contents1 What is the News?2 What is Cross Border Insolvency?3 Does India have a Cross Border Insolvency Framework?4 What will be the basis of the Cross Border Insolvency Framework?5 About UNCITRAL Model Law on Cross-border Insolvency, 1997 What is the News? The government is planning to bring personal guarantors for corporate debtors under the purview… Continue reading Personal guarantors may be part of cross-border insolvency framework under the Insolvency and Bankruptcy Code (IBC)
Government will repeal all 3 farm laws: Modi
What is the News? The Prime Minister has announced that the government has decided to repeal the three controversial farm laws passed in the Monsoon Session of Parliament in September 2020. What were the three farm laws that have been repealed? Farmers Produce Trade and Commerce (Promotion and Facilitation) Act, 2020; Essential Commodities (Amendment) Act,… Continue reading Government will repeal all 3 farm laws: Modi
Coal Ministry Accelerates Sustainable Development Efforts: Constitutes Sustainable Development Cell
What is the News? The Ministry of Coal has accelerated the establishment of the Sustainable Development Cell. What is the aim of the Sustainable Development Cell? Aim: To promote environmentally sustainable coal mining in the country and to address environmental concerns during mining operation and till the decommissioning or final closure of mines. What are… Continue reading Coal Ministry Accelerates Sustainable Development Efforts: Constitutes Sustainable Development Cell
Country’s first fisheries business incubator launched in Haryana’s Gurugram
What is the News? Union Minister of Fisheries has inaugurated the country’s first-of-its-kind, dedicated business incubator to be known as LINAC- NCDC Fisheries Business Incubation Centre(LlFlC) in Haryana’s Gurugram. About LINAC- NCDC Fisheries Business Incubation Centre(LIFIC) Aim: To nurture fisheries start-ups under real market-led conditions. Services Provided by the LIFIC: The centre will provide hand… Continue reading Country’s first fisheries business incubator launched in Haryana’s Gurugram
Centre plans to give some strategic disinvestment powers to DPE
What is the news? The central government has decided to give some powers in the strategic disinvestment process to the Department of Public Enterprise (DPE). This department has been brought under the Ministry of finance. How does the current disinvestment process work? As per the current process, NITI Aayog identifies companies for disinvestment. This proposal… Continue reading Centre plans to give some strategic disinvestment powers to DPE
