What is the News? The Government makes the 6 digit HSN (Harmonized System of Nomenclature) code mandatory for a GST taxpayer having a turnover of more than Rs 5 crore in a financial year. This rule comes into effect from April 1,2021. About HSN Code: The HSN Code is a six-digit identification code. The World… Continue reading “HSN code” Made Mandatory for Certain Category of GST Taxpayers
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.
Center to Retain the “Inflation Targeting” at 4% for MPC
Contents1 What is the news?2 Introduction 3 Inflation Targetting 4 About MPC (Monetary Policy Committee) What is the news? As per the top finance ministry official, the center will retain the Inflation Targeting of 4% for MPC. Introduction The Centre will retain the inflation target of 4%, with a tolerance band of +/- 2 percentage points. This… Continue reading Center to Retain the “Inflation Targeting” at 4% for MPC
NITI Aayog Releases “Investment Opportunities in India’s Healthcare Sector” report
What is the News? NITI Aayog released a report titled, ‘Investment Opportunities in India’s Healthcare Sector’. Purpose of the Investment Opportunities in India’s Healthcare Sector Report: The report outlines the range of investment opportunities in various segments of India’s healthcare sector. This includes hospitals, medical devices and equipment, health insurance, telemedicine, home healthcare, and medical… Continue reading NITI Aayog Releases “Investment Opportunities in India’s Healthcare Sector” report
Global Wind Report 2021
What is the News? The Global Wind Energy Council(GWEC) has released the Global Wind Report,2021. About Global Wind Report: The Global Wind Report highlights the role of wind power on the road to net-zero emissions. Key Findings of the report: Firstly, Wind Energy: The world’s capacity to generate electricity from wind jumped 53% in 2020.… Continue reading Global Wind Report 2021
Union Minister inaugurates Event for “DSIR-PRISM Scheme”
What is the News? The Union Minister for Science & Technology inaugurates the Event for Publicity of the PRISM (Promoting Innovations in Individuals, Startups, and MSMEs) scheme. About PRISM Scheme: Nodal Ministry: PRISM is an initiative of the Department of Scientific and Industrial Research(DSIR), Ministry of Science and Technology. Aim: The aim is to help… Continue reading Union Minister inaugurates Event for “DSIR-PRISM Scheme”
Finance Minister launched “Central Scrutiny Centre” and “IEPFA App”
Contents1 What is the news?2 About Central Scrutiny Centre:3 Investor Education and Protection Fund (IEPF):4 IEPF Authority: What is the news? The Finance Minister has virtually launched the Central Scrutiny Centre(CSC). She also launched the mobile app for the Investor Education and Protection Fund Authority(IEPFA). About Central Scrutiny Centre: Central Scrutiny Centre is an initiative… Continue reading Finance Minister launched “Central Scrutiny Centre” and “IEPFA App”
National Bank for Financing Infrastructure and Development Act, 2021
Introduced: The Bill was introduced in Lok Sabha on 22/03/2021 as a Government Bill (Ministry of Finance, Corporate Affairs and Information & Broadcasting). Present Status: The Bill was passed in both the Houses and received President’s assent on 28.03.2021. About National Bank for Financing Infrastructure and Development (NBFID) Act,2021 Aim: The Act seeks to establish… Continue reading National Bank for Financing Infrastructure and Development Act, 2021
POWERGRID Launches E-Tendering Portal “PRANIT”
What is the News? Power Grid Corporation of India Limited(POWERGRID) launched a portal named “PRANIT”. About PRANIT Portal: PRANIT is an e-Tendering Portal. It aims to make the tendering process more transparent through less paperwork and ease of operation. Significance: The portal is certified by Standardisation, Testing and Quality Certification Directorate(STQC), Ministry of Electronics and… Continue reading POWERGRID Launches E-Tendering Portal “PRANIT”
What is FDI or Foreign Direct Investment?
What is the News? The Rajya Sabha has passed the Insurance (Amendment) Bill, 2021. The Bill seeks to raise the FDI in the insurance sector to 74% from the current 49%. Click Here to Read about Insurance in Amendment Bill,2021 About Foreign Direct Investment(FDI): Foreign Direct Investment(FDI) is the medium for acquiring ownership of assets… Continue reading What is FDI or Foreign Direct Investment?
What are “DFIs or Development Finance Institutions”?
Contents1 What is the News?2 About DFIs:3 Key Features of DFIs Development Finance Institution :4 DFIs Development Finance Institution in India: What is the News? The Union Cabinet has approved a bill to set up a DFI (Development Finance Institution). It will be called National Bank for Financing Infrastructure and Development (NaBFID). Click Here to… Continue reading What are “DFIs or Development Finance Institutions”?
