What is the News? At the 12th WTO Ministerial Conference, India was successful in defending the rights of developing countries to subsidize their fisheries. What have the WTO members agreed regarding the Fishing Subsidy? WTO members agreed on eliminating subsidies to those engaged in illegal, unreported and unregulated fishing. The only exception for continuing subsidies… Continue reading India’s fishing subsidy win at WTO the start of a long fight
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.
Coal Ministry releases Eight Year Achievement Report of Coal Sector
What is the News? The Union Minister of Coal has released a report titled “Reforms & Achievements of the Ministry of Coal Since 2014”. The report highlights the major achievements of the Ministry of Coal during the last eight years. What are the key initiatives launched by the Ministry of Coal in the last eight… Continue reading Coal Ministry releases Eight Year Achievement Report of Coal Sector
IBBI amends Insolvency and Bankruptcy Board of India (Grievance and Complaint Handling Procedure) Regulations,2017 and the Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations,2017
What is the News? Insolvency and Bankruptcy Board of India has notified amendments to the Insolvency and Bankruptcy Board of India (Grievance and Complaint Handling Procedure) Regulations,2017 and the Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017. What are the Insolvency and Bankruptcy Board of India (Grievance and Complaint Handling Procedure) Regulations,2017?… Continue reading IBBI amends Insolvency and Bankruptcy Board of India (Grievance and Complaint Handling Procedure) Regulations,2017 and the Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations,2017
Railway Innovation Policy: In a boost to start-ups, Railways promises Rs 1.5 crore for tech ideas
What is the News? The Union Railways Minister has launched a Railway Innovation Policy titled “StartUps for Railways”. What is Railway Innovation Policy? Aim of the policy: To promote Indian innovators and entrepreneurs through a series of innovative startups in the ecosystem and services of the railway. Under phase 1 of the policy, 11 problem… Continue reading Railway Innovation Policy: In a boost to start-ups, Railways promises Rs 1.5 crore for tech ideas
Unemployment rate dips in first quarter of 2022: Survey
What is the News? The National Statistical Office (NSO) has released the quarterly bulletin of Periodic Labour Force Survey (PLFS) for January-March, 2022. What are the key findings of the PLFS Survey? Unemployment Rate The unemployment rate is defined as the percentage of unemployed persons in the labour force. The unemployment rate for persons aged 15… Continue reading Unemployment rate dips in first quarter of 2022: Survey
For the first time in a decade, WTO members reach historic deal at Geneva
What is the News? For the first time in a decade, the members of the World Trade Organization (WTO) have finalized a historic deal at the 12th Ministerial Conference(MC12). Note: The WTO’s rules dictate that all decisions are taken by consensus, with any single member able to exercise a veto. What are the major outcomes… Continue reading For the first time in a decade, WTO members reach historic deal at Geneva
Steel Minister Inaugurates First Six – lane Highway Road made of Steel Slag at Surat, Gujarat
What is the News? The Union Minister of Steel has inaugurated the first six-lane highway road made by using Steel Slag at Surat, Gujrat. What is Steel Slag Road? Steel Slag Road is a road built with steel slag – a waste material from steel industries. Significance: The road constructed by 100% use of steel… Continue reading Steel Minister Inaugurates First Six – lane Highway Road made of Steel Slag at Surat, Gujarat
Cabinet approves Auction of IMT/5G Spectrum
What is the News? The Union Cabinet has approved a proposal of the Department of Telecommunications to conduct a spectrum auction through which spectrum will be assigned to the successful bidders for providing 5G services to the public and enterprises. What is a Spectrum Auction? Click Here to read about it What Spectrum bands will… Continue reading Cabinet approves Auction of IMT/5G Spectrum
RBI lens on neobanks amid rapid growth in customers
What is the News? The Reserve Bank of India(RBI) is taking a hard look at the neobank business model where fintechs plug into a conventional bank’s network and become customer-facing banking service providers. What are Neo Banks? Neo-banks are online-only financial technology (fintech) companies that operate solely digitally or via mobile apps. Simply put, neo-banks… Continue reading RBI lens on neobanks amid rapid growth in customers
India opposes e-transmission moratorium
What is the News? At the 12th Ministerial Conference(MC 12) of the World Trade Organization (WTO), India has opposed the continuation of the moratorium on customs duties on e-commerce trade as the issue now has huge implications for the economy of developing countries. What is the E-Transmission Moratorium? Click Here to read about it Why… Continue reading India opposes e-transmission moratorium
