News: Prime Minister of India has inaugurated the Kochi-Mangalore LNG (liquified natural gas) pipeline. Facts: Kochi-Mangalore Gas Pipeline: It is a 450 km long pipeline being built by GAIL (India) Ltd. Purpose: It will carry natural gas from the Liquefied Natural Gas(LNG) Regasification Terminal at Kochi (Kerala) to Mangalore (Dakshina Kannada district, Karnataka). Pass through:… Continue reading Prime Minister inaugurates Kochi-Mangalore natural gas pipeline
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 launched virtual toy hackathon ‘Toycathon 2021’
News: Union Education Minister and Union Minister for Textiles and Women & Child Development jointly launched the Toycathon 2021. Facts: Toycathon 2021: It’s a kind of hackathon for the toy industry. It has been organized by the Ministry of Education, Ministry of Women and Child Development (MWCD), Ministry of Textile, Ministry of Commerce and Industries,… Continue reading Government launched virtual toy hackathon ‘Toycathon 2021’
Government kicking off Seaplane Services on selected Routes
News: Union Ministry of Ports, Shipping, and Waterways has announced that it has kickstarted the process of commencing operations of the Seaplane services on select routes. Facts: What is Seaplane? Seaplanes are typically fixed-wing aircraft with a much fewer number of seats and can take off from and land on water. How will it work? Sea… Continue reading Government kicking off Seaplane Services on selected Routes
Prime Minister to preside over Virtual Global Investor Roundtable
News: The Prime Minister will chair the Virtual Global Investor Roundtable (VGIR). Facts: Organized by: Ministry of Finance and National Investment and Infrastructure Fund(NIIF) What is it? It is an exclusive dialogue between leading global institutional investors, Indian business leaders and the highest decision makers from the Government of India and Financial Market Regulators. … Continue reading Prime Minister to preside over Virtual Global Investor Roundtable
UKIBC releases Doing Business in India Report 2020
News: UK India Business Council(UKIBC) has released the sixth edition of Doing Business in India Report 2020. Facts: About the report: The report is based on an in-depth survey of 106 UK organisations operating in India spanning manufacturing, services, and higher education sectors. Key Takeaways: Nearly two-thirds of the UK businesses believe it… Continue reading UKIBC releases Doing Business in India Report 2020
Compound conundrum: On interest waiver
News: Government of India has announced a scheme called, ‘Scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts’. Facts: Aim: To provide major relief for individuals and MSME borrowers by waiver of the compound interest on specified loans for six months… Continue reading Compound conundrum: On interest waiver
The Future of Jobs Report, 2020
News: World Economic Forum (WEF) has released the Future of Jobs Report, 2020. Facts: About the report: The report maps the jobs and skills of the future by tracking the pace of change. Key Highlights from the report: Reskilling: 50% of all employees will need reskilling by 2025 as adoption of technology increases. Effect of Automation on Jobs: Faster than… Continue reading The Future of Jobs Report, 2020
Environmental clearance to Kaleshwaram given in violation of law: NGT
News: The National Green Tribunal (NGT) has held that environmental clearance (EC) to Kaleshwaram Lift Irrigation Project (KLIP) was granted ex post facto, after completion of substantial work, by the Ministry of Environment, Forests and Climate Change (MoEF&CC) “in violation of law”. Facts: Location: Kaleshwaram Multipurpose Lift Irrigation Project is located in Telangana. It was… Continue reading Environmental clearance to Kaleshwaram given in violation of law: NGT
Foreign Direct Investment Inflow
Facts: The Ministry of Commerce has released the data on the Foreign Direct Investment Inflow in India. Facts: For the period of last 6 years (2014-15 to 2019-20): Total FDI inflow grew by 55%, i.e. from US$ 231.37 billion in 2008-14 to US$ 358.29 billion in 2014-20. FDI equity inflow has also increased by… Continue reading Foreign Direct Investment Inflow
IFSCA introduces framework for ‘Regulatory Sandbox’
News: International Financial Services Centres Authority(IFSCA) has introduced a Framework for Regulatory Sandbox to tap into innovative FinTech solutions. Facts: What is a Regulatory Sandbox? It is an infrastructure that helps financial technology (FinTech) players live test their products or solutions before getting the necessary regulatory approvals for a mass launch. IFSCA Regulatory Sandbox:… Continue reading IFSCA introduces framework for ‘Regulatory Sandbox’
