What is the News? The Ministry of Labour and Employment is working on a mechanism to process accident insurance claims by unorganized workers registered on the e-Shram portal. What is e-Shram Portal? The Ministry of Labour and Employment had launched the e-Shram Portal with the aim of creating a national database of unorganized workers and… Continue reading Mechanism to process unorganized workers’ accident claims in the works, says Ministry
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.
The recent woes of the jute industry in West Bengal
What is the News? Member of Parliament(MP) from Barrackpore constituency in West Bengal has met the Textile Minister to apprise him about issues concerning jute farmers, workers and the overall jute industry. He said that the operations of 20 jute mills in his constituency with lakhs of people dependent on them were adversely affected with… Continue reading The recent woes of the jute industry in West Bengal
India’s Pharma exports grow by 103% since 2013-14
What is the News? According to the Ministry of Commerce and Industry, Indian pharma exports witnessed a growth of 103% since 2013-14. About Indian Pharmaceutical Exports Pharma Exports: Indian pharma exports witnessed a growth of 103% from 2013-14 till 2021-22. This is a remarkable growth with exports growing by almost USD 10 billion in 8… Continue reading India’s Pharma exports grow by 103% since 2013-14
Economy may take more than a decade to overcome COVID-19 losses: RBI report
What is the News? The Reserve Bank of India has released the Report on Currency and Finance (RCF) for the year 2021-22. Theme of the Report: ‘Revive and Reconstruct’ in the context of nurturing a durable recovery post-Covid and raising trend growth in the medium-term. What are the key highlights from the report? Covid-19 Impact… Continue reading Economy may take more than a decade to overcome COVID-19 losses: RBI report
RBI asks SEBI to act against agencies for loan rating gaps
What is the News? The Reserve Bank of India(RBI) wants the Securities and Exchange Board of India(SEBI) to widen its role and take action against rating agencies that are found deficient in rating loans. What does SEBI regulate currently? Currently, It is observed that the SEBI’s enforcement and punitive actions against rating agencies have lapses… Continue reading RBI asks SEBI to act against agencies for loan rating gaps
All you need to know about protected cultivation, or vertical farming
What is the News? According to experts, all crops grown via vertical farming methods are usually over 95 percent water efficient. Background and Concept of Vertical Farming In 1915, Gilbert Ellis Bailey coined the term “vertical farming” and wrote a book titled “Vertical Farming”. In the 1980s, Åke Olsson, a Swedish ecological farmer, invented a… Continue reading All you need to know about protected cultivation, or vertical farming
India to get world’s longest and highest tunnel in Himachal by 2025
What is the News? India will soon be home to the world’s longest highway tunnel beneath Shinku-La Pass. What is the Shinku-La Tunnel? The Shinku-La tunnel will be built at Shinku La Pass at an altitude of 16,580ft. The tunnel will be 4.25 km in length. It will provide all-weather connectivity between Ladakh and Himachal.… Continue reading India to get world’s longest and highest tunnel in Himachal by 2025
Explained: What are SPACs for which a regulatory framework may be in the works
What is the News? The Government of India is considering a regulatory framework for Special Purpose Acquisition Companies (SPACs) to lay the ground for the possible listing of Indian companies through this route in the future. What are Special Purpose Acquisition Companies(SPACs)? A SPAC or a Blank-Cheque Company is an entity specifically set up with… Continue reading Explained: What are SPACs for which a regulatory framework may be in the works
Explained: How government procures wheat
What is the News? The procurement of wheat is underway in several states. Why does the Government procure Wheat? The Government policy of procurement of Food grains such as rice, wheat, and coarse grains has broad objectives of ensuring Minimum Support Price(MSP) to the farmers and availability of food grains to the weaker sections at… Continue reading Explained: How government procures wheat
NITI Aayog Releases Draft Battery Swapping Policy for Stakeholder Comments
What is the News? Niti Aayog has released the Draft Battery Swapping Policy. What is battery swapping? Battery swapping is a mechanism that involves exchanging discharged batteries for charged ones. Battery swapping offers three key advantages relative to charging: It is time, space, and cost-efficient provided each swappable battery is actively used. What is the… Continue reading NITI Aayog Releases Draft Battery Swapping Policy for Stakeholder Comments
