What is the News? Exporters are upset over the inordinate delay in the notification of the rates under the RoDTEP (Remission of Duties and Taxes on Exported Products) Scheme. About Remission of Duties and Taxes on Exported Products(RoDTEP) Scheme: Ministry of Commerce and Industry announced the RoDTEP scheme in the year 2020. It came into effect… Continue reading “RoDTEP Scheme” -Delay in Notification of Rebate Rates
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.
“Asset Reconstruction Companies” – Sudarshan Sen Committee Set-up
Contents1 What is the News?1.1 About Asset Reconstruction Company (ARC):2 Capital Requirements for an ARC:2.1 What are sources of funds for ARCs?2.2 How are ARCs different from the IBC? What is the News? The Reserve Bank of India(RBI) has set up the Sudarshan Sen committee to review the working of Asset Reconstruction Companies (ARCs) Comprehensively. It… Continue reading “Asset Reconstruction Companies” – Sudarshan Sen Committee Set-up
“National Startup Advisory Council” – First Meeting Held
What is the News? The Minister of Commerce & Industry chaired the first meeting of the National Startup Advisory Council(NSAC). About the National Startup Advisory Council(NSAC): National Startup Advisory Council(NSAC) was constituted by the Department for Promotion of Industry and Internal Trade(DPIIT). Purpose: To advise the Government on measures required to build a strong ecosystem for… Continue reading “National Startup Advisory Council” – First Meeting Held
India on US’s “Currency Watch list”
What is the News? The US treasury places India along with 10 other countries on its currency watch list. What is Currency Manipulator: Current Manipulators are countries engaging in “unfair currency practices” by deliberately devaluing their currency against the dollar. The practice would mean that the country in question is artificially lowering the value of… Continue reading India on US’s “Currency Watch list”
RBI sets up “Regulations Review Authority 2.0”
What is the News? Recently, the Reserve Bank of India(RBI) announced the setting up of a new Regulations Review Authority(RRA 2.0). About Regulations Review Authority(RRA): The RBI earlier set up the first RRA for a period of one year from April 1, 1999. This is for reviewing the regulations, circulars, reporting systems, based on the… Continue reading RBI sets up “Regulations Review Authority 2.0”
DGFT launches “Trade Facilitation Mobile App” to promote exports
What is the News? Union Minister of Commerce and Industry has launched the Directorate General of Foreign Trade’s(DGFT) Trade Facilitation Mobile Application. About Trade Facilitation Mobile Application: Tata Consultancy Services(TCS) developed the Trade Facilitation Mobile Application. It is as per the directions of the Directorate General of Foreign Trade (DGFT). Aim: The aim is to promote… Continue reading DGFT launches “Trade Facilitation Mobile App” to promote exports
India will move towards mandatory “gold hallmarking”
Contents1 What is the News?2 What is Gold hallmarking?3 Key Features of Gold Hallmarking:4 Benefits of Gold Hallmarking: What is the News? The government said that it is fully prepared to implement the mandatory hallmarking of gold jewellery and artefacts from June 1, 2021. What is Gold hallmarking? Gold hallmarking is a purity certification of… Continue reading India will move towards mandatory “gold hallmarking”
What is a “Currency Chest”?
What is the News? A Private Security Guard in Chandigarh has stolen Rs 4 crore from a Currency Chest of Axis Bank. What is a Currency Chest? Firstly, A currency chest is a place where the Reserve Bank of India (RBI) stocks the money meant for banks and ATMs. Secondly, Administered by: The RBI administers… Continue reading What is a “Currency Chest”?
Niti Aayog launches Version 2.0 of “India Energy Dashboards”
Contents1 What is the News?2 About India Energy Dashboards:3 Key Features of the India Energy Dashboards(IED):4 About PRAAPTI Portal:5 About Vidyut PRAVAH: What is the News? Niti Aayog launches the India Energy Dashboards Version 2.0. Version 1.0 of the Dashboard was launched in May 2017. About India Energy Dashboards: India Energy Dashboards(IED) aims to provide… Continue reading Niti Aayog launches Version 2.0 of “India Energy Dashboards”
What is “global minimum corporate income tax”?
What is the News? The US Treasury Secretary has urged the world’s 20 advanced nations to move in the direction of adopting a Global minimum corporate income tax. Contents1 What is the Global minimum corporate income tax?2 Why this Global Minimum Corporate Tax Rate move?3 What is the US proposal?4 India’s Stand on Global Minimum… Continue reading What is “global minimum corporate income tax”?
