Contents1 What is the News?2 About Khavda Renewable Energy Park3 What are Large Battery Storage systems used for?4 India’s Renewable Energy Capacity and the need of Battery Storage systems What is the News? India has planned to set up around 14 gigawatt-hour (GWh) grid-scale battery storage systems at the Khavda renewable energy park in Gujarat.… Continue reading Govt eyes 14GWh battery storage system in Kutch
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.
Businesses should give useful inputs for FTA negotiations
What is the news? Recently, the Commerce Ministry said that the negotiations for India-UK Free Trade Agreement (FTA) will commence from November this year. The governments in both the countries are eager to conclude an interim agreement quickly, but the businesses are yet to warm up to the idea. What are the findings of the study published by… Continue reading Businesses should give useful inputs for FTA negotiations
India will become 3rd largest importer by 2050: UK report
Contents1 What is the News?2 What are the key findings of the report?2.1 India’s Imports2.2 A shift in Economic Activity2.3 E7 Group of Economies3 What are the concerns highlighted in the report? What is the News? The UK’S Department of International Trade has released a report titled ‘Global Trade Outlook‘. What are the key findings… Continue reading India will become 3rd largest importer by 2050: UK report
Major restructuring of railways on anvil
What is the news? A panel was set up under the Principal Economic Adviser gave recommendations for Rationalisation of Government Bodies and Proposal for the Ministry of Railways. Recently, Cabinet Secretary asked about the actions taken on the rationalisation plan. What are the recommendations of the panel? Closure: Panel calls for winding up the Central… Continue reading Major restructuring of railways on anvil
Recommendations of 45th GST Council Meeting
What is the News? The Finance Minister has chaired the 45th Goods and Service Tax (GST) Council meeting. This was the first in-person GST meet since the Covid-19 pandemic. What are the key recommendations made at the GST Council meeting? Concession on Medicines Life-saving drugs Zolgensma and Viltepso used in the treatment of Spinal-Muscular Atrophy… Continue reading Recommendations of 45th GST Council Meeting
5G spectrum auction to allot airwaves may not happen before 2023
What is the news? According to internal consultations in the Department of Telecommunications (DoT), the 5G spectrum auctions will be held in the last quarter of the financial year 2022-23 (FY23). The 5G auction would include 3,300 MHz to 3,600 MHz bands along with the milimetre waves. The base price for the 5G spectrum is around Rs 3.63 trillion.… Continue reading 5G spectrum auction to allot airwaves may not happen before 2023
Non-farm activities need a big push to boost rural incomes, say experts
What is the news? The National Sample Survey (NSS) in its latest findings mentioned that Doubling farmers’ income by 2022 is not feasible. The findings also mentioned reasons such as reduced earnings from crop production and increased debts for not achieving it. The findings also highlighted the need for a strong policy response to reverse the trend.… Continue reading Non-farm activities need a big push to boost rural incomes, say experts
Government sets up ‘bad bank’ to clear the NPA mess
Contents1 What is the News?2 What is NARCL?3 What is India Debt Resolution Company Ltd (IDRCL)?4 How will the NARCL and IDRCL work? What is the News? Cabinet has cleared a ₹30,600-crore guarantee programme for securities to be issued by the National Asset Reconstruction Company Limited(NARCL) for taking over and resolving non-performing assets(NPAs). What is… Continue reading Government sets up ‘bad bank’ to clear the NPA mess
PFC issues India’s first-ever Euro Green Bond
What is the News? Power Finance Corporation Ltd (PFC), the leading NBFC in the power sector, has issued its maiden Euro Green Bond. What is a Euro Green Bond? It is the first-ever Euro denominated Green bond issuance from India. Moreover, it is the first-ever Euro issuance by an Indian NBFC and the first Euro… Continue reading PFC issues India’s first-ever Euro Green Bond
Building a resilient economy
What is the news? Amidst the hopes of a V-shaped recovery of the Indian economy, the National Statistical Office (NSO) had recently estimated that India’s economic growth has surged to 20.1% in the April-June quarter, despite a devastating second wave of COVID-19. It also stated that the gross domestic product (GDP) had contracted by 24.4% in… Continue reading Building a resilient economy
