What is the News? Recently, the Economic Advisory Council to the Prime Minister(EAC-PM) has released the State of Inequality in India Report. About the State of Inequality in India Report and its findings Must read: State of Inequality in India Report Some other related findings Income inequality: As per the Periodic Labour Force Survey (PLFS)… Continue reading What does India’s inequality report card have to say?
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.
Government lifts “Export Prohibition” on Bamboo Charcoal for Higher Profitability of Bamboo Industry
What is the News? The Centre has lifted the “export prohibition” on bamboo charcoal to boost the utilization of raw bamboo and support the industry. Background Bamboo is largely used in making Agarbattis wherein up to 16% which is the upper layers of the bamboo is used for manufacturing while the remaining 84% of bamboo… Continue reading Government lifts “Export Prohibition” on Bamboo Charcoal for Higher Profitability of Bamboo Industry
GST Council recommendations not binding on government: SC
What is the News? The Supreme Court has ruled that the recommendations of the GST council are not binding on the Union and the State Governments. What are the key highlights from the Supreme Court judgment on GST? Firstly, the recommendations of the GST Council are the product of a collaborative dialogue involving the Union… Continue reading GST Council recommendations not binding on government: SC
Union Minister chairs meeting on Lab Grown Diamonds; Focus on Research and Development, setting up common facilities and skilling of adequate manpower
What is the News? The Union Minister for Commerce & Industry chaired a meeting with the representatives of Lab-Grown Diamonds Industry today in New Delhi. What are Lab Grown Diamonds? Lab-grown diamonds are diamonds which are grown inside a lab using cutting-edge technology that replicates the natural diamond growing process and the result is a… Continue reading Union Minister chairs meeting on Lab Grown Diamonds; Focus on Research and Development, setting up common facilities and skilling of adequate manpower
Explained: What is fair and average quality wheat, the norms for which have been relaxed by the government?
What is the News? The Centre has relaxed the Fair and Average Quality(FAQ) norms for wheat in the ongoing rabi marketing season in Punjab, Haryana, and Chandigarh raising the permissible limit of “shriveled and broken grains” to 18% from the existing 6%. Procurement Process of Wheat Every year, before procurement begins in April, the Storage… Continue reading Explained: What is fair and average quality wheat, the norms for which have been relaxed by the government?
The repo rate in India
What is the News? Reserve Bank of India has announced that the RBI’s Monetary Policy Committee(MPC) had held an ‘off-cycle’ meeting at which it had decided unanimously to raise the policy repo rate by 40 basis points to 4.40% with immediate effect. What is Repo Rate? The Repo Rate is one of several direct and… Continue reading The repo rate in India
Cryptos can lead to dollarisation of economy: RBI officials to parliamentary panel
What is the News? Officials from the Reserve Bank of India told the Parliamentary Standing Committee on Finance that cryptocurrencies can lead to the “dollarisation” of a part of the economy. What is Dollarisation? Dollarisation is a form of currency substitution where dollars are used in addition to or instead of the local currency of… Continue reading Cryptos can lead to dollarisation of economy: RBI officials to parliamentary panel
Cruise Tourism in India has potential to grow 10 fold says Shipping Minister
What is the News? The Union Minister for Ports, Shipping and Waterways has said that the Indian cruise market has the potential to grow 10-fold over the next decade. What is Cruise Tourism? Cruise tourism can be defined as a luxurious form of travelling, involving an all-inclusive holiday on a cruise ship with a set… Continue reading Cruise Tourism in India has potential to grow 10 fold says Shipping Minister
Centre relaxes procurement norms for shrivelled, broken wheat grains
What is the News? The Government of India has announced relaxations for the procurement of shrunken and shrivelled grains in Punjab and Haryana. What is the issue? Due to extreme heatwaves in the northern part of the country in March, the grain quality suffers so much that the percentage of shrivelled (to become smaller, especially… Continue reading Centre relaxes procurement norms for shrivelled, broken wheat grains
India plans dam project as China seeks to divert river
What is the News? India plans to construct the country’s second-largest dam at Yingkiong in Arunachal Pradesh to counter China’s ambitious water diversion scheme of the Brahmaputra River. What are China’s plans for the Brahmaputra River? China’s 14th five-year plan has proposed building a massive dam over the Brahmaputra river, known in China as the… Continue reading India plans dam project as China seeks to divert river
