What is the News? The Prime Minister will address a National Summit on Agro and Food Processing.At this summit, the Prime Minister will spread basic knowledge about Zero-Budget Natural Farming (ZBNF). What is Zero-Budget Natural Farming (ZBNF)? ZBNF is a technique of farming developed by Padma awardee Subhash Palekar of Maharashtra. It aims to help… Continue reading PM to address natural-farming event amid scientists’ concerns
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.
Centre’s new incentive scheme for States to achieve their targets and become eligible for incremental borrowing
What is the News? The Finance Ministry had announced a new incentive scheme for States that could achieve their targets and become eligible for incremental borrowing. What is the Incentive Scheme for States to become eligible for incremental borrowing? Under the scheme, out of the Net Borrowing Ceiling(NBC) of 4% of GSDP for the States for… Continue reading Centre’s new incentive scheme for States to achieve their targets and become eligible for incremental borrowing
Centre to organize the first of its kind innovation week to encourage Startup ecosystem in India
What is the News? The Government of India is organizing the first of its kind innovation week titled “Celebrating Innovation Ecosystem” to encourage the Startup ecosystem in India. About Celebrating Innovation Ecosystem Week Organized by: Department for Promotion of Industry and Internal Trade (DPIIT) Aim: To bring together India’s key startups, entrepreneurs, investors, policymakers and… Continue reading Centre to organize the first of its kind innovation week to encourage Startup ecosystem in India
Imports made up 86% of gold supply in 2016-20, says WGC
What is the News? The World Gold Council (WGC) has released a report titled ‘Bullion Trade in India’. What are the key findings of the report? India’s Gold Imports India is the world’s second-largest gold consumer. However, the country is heavily dependent on imports to fulfil this demand. Over the five-year period 2016-2020, imports made… Continue reading Imports made up 86% of gold supply in 2016-20, says WGC
World Inequality report 2022: World’s most extreme inequality increase in India
What is the News? World Inequality report 2022 has been released. The report is authored by Lucas Chancel, co-director of the World Inequality Lab and coordinated by famed French economist Thomas Piketty among others. What are the key findings of the World Inequality Report 2022 related to India? National Income: In India, the top 10%… Continue reading World Inequality report 2022: World’s most extreme inequality increase in India
North Eastern Development Finance Corporation Ltd. (NEDFI)- ‘Business cum Entrepreneurs’ Meet organised by NEDFI at its Namchi and Gangtok Branch
What is the News? North Eastern Development Finance Corporation Ltd. (NEDFI) has organised a Business cum Entrepreneurs Meet to encourage people, mainly youngsters to go in for entering into entrepreneurship by starting up their own business and to generate employment for others What is North Eastern Development Finance Corporation Ltd.(NEDFI)? NEDFi is notified as a… Continue reading North Eastern Development Finance Corporation Ltd. (NEDFI)- ‘Business cum Entrepreneurs’ Meet organised by NEDFI at its Namchi and Gangtok Branch
Explainer: Neo Banks vs Traditional Banking
What is the News? Neo-Banks bridge the gap between the services that traditional banks offer and the evolving expectations of customers in the digital age. They are changing the face of fintech and could one day eclipse traditional banks. What are Neo Banks? Neo-banks are online-only financial technology (fintech) companies that operate solely digitally or… Continue reading Explainer: Neo Banks vs Traditional Banking
PM inaugurates InFinity Forum, a thought leadership Forum on FinTech
What is the News? The Prime Minister has inaugurated InFinity Forum, a thought leadership Forum on FinTech. Click Here to read about the InFinity Forum What is Fintech? Fintech (finance and technology) refers to any business that uses technology to enhance or automate financial services and processes. What are the pillars of Fintech? India’s financial… Continue reading PM inaugurates InFinity Forum, a thought leadership Forum on FinTech
Annual Report on State Finances: The vital third tier
News: Reserve Bank of India (RBI) has released its annual study of state finances. What are the findings of the report? -States’ gross fiscal deficit breached the 3% of gross domestic product (GDP) mark. -Combined revenue deficit of the state governments rose from 0.1% of GDP in 2018-19 to 2% of GDP in 2020-21 because… Continue reading Annual Report on State Finances: The vital third tier
Centre set to rejig privatisation process for non-strategic sectors
What is the News? The government of India is set to approve several changes in the privatisation process for companies in non-strategic sectors. Background Recently, the Government of India has released a new ‘Public Sector Enterprise Policy’. The policy classifies public sector commercial enterprises into strategic and non-strategic sectors. In the strategic sectors, there would… Continue reading Centre set to rejig privatisation process for non-strategic sectors
