News: International Monetary Fund(IMF) has released the World Economic Outlook Report,2020 titled “A Long and Difficult Ascent”. Facts: The report is published twice a year. Aim: To provide analysis and forecasts of economic developments of member countries and highlights risks and uncertainty. Key Takeaways: Global growth is projected to be -4.4% ( i.e., a contraction… Continue reading India’s economy to contract by 10.3%, says International Monetary Fund
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.
Expained: The economics of Auction Theory
News: Royal Swedish Academy of Sciences has awarded the 2020 Nobel Prize for Economics — to Paul R Milgrom and Robert B Wilson for their work on auction theory and new auction formats. Facts: Auction Theory: It is an applied branch of economics which deals with how people act in auction markets and researches the… Continue reading Expained: The economics of Auction Theory
Tamil Nadu to establish advanced manufacturing hub
News: Tamil Nadu’s Guidance, nodal investment promotion and facilitation agency has partnered with the World Economic Forum(WEF) to establish India’s first advanced manufacturing hub(AMHUB) in the state. Facts: Advanced manufacturing hub(AMHUB): It is one among the nineteen platforms that has been designed by the World Economic Forum(WEF). Focus of AMHUB: This manufacturing hub focuses on… Continue reading Tamil Nadu to establish advanced manufacturing hub
Poverty and Shared Prosperity Report: World Bank
News: The World Bank has released its biennial Poverty and Shared Prosperity Report. Facts: About the report: The report aims to provide the latest and most accurate estimates on trends in global poverty and shared prosperity. Key takeaways: Global extreme poverty is expected to rise in 2020 for the first time in over 20 years… Continue reading Poverty and Shared Prosperity Report: World Bank
Foreign Direct Investment(FDI) Policy in Defence Sector
News: Department for Promotion of Industry and Internal Trade(DPIIT), Ministry of Commerce and Industry has issued the revised Foreign Direct Investment (FDI) Policy in Defence Sector. Facts: Present Position: Sector/Activity % of Equity/ FDI Cap Entry Route Defence Industry subject to Industrial license under the Industries(Development &… Continue reading Foreign Direct Investment(FDI) Policy in Defence Sector
Indian economy is heading for a K-shaped recovery and it won’t be a pretty sight
News: According to Economists, Indian economy is heading for a K-shaped recovery. Facts: K-shaped Recovery: It occurs when an economy recovers unevenly and there’s a separate trajectory for two segments of the society. Examples: Industries like technology, retail, and software services have recovered while the travel, entertainment, hospitality, and food services industries have continued to… Continue reading Indian economy is heading for a K-shaped recovery and it won’t be a pretty sight
India slips 26 places to 105 in global economic freedom index
News: The Global Economic Freedom Index 2020 has been released as a part of the Economic Freedom of the World: 2020 report by the Fraser Institute in Canada.In India, the report was co-published by Delhi-based Centre for Civil Society. Facts: About the report: The report measures the ‘economic freedom’ or the ability of individuals to… Continue reading India slips 26 places to 105 in global economic freedom index
Declaration of Results of Ranking of States: 2019 on support to Startup Ecosystems
News: The Results of the second edition of “States Startup Ranking 2019” has been released by the Minister of Commerce & Industry. Facts: States Startup Ranking 2019: The exercise was conducted by the Department for Promotion of Industry and Internal Trade(DPIIT). Objective: To foster competitiveness and propel States and Union Territories to work proactively towards… Continue reading Declaration of Results of Ranking of States: 2019 on support to Startup Ecosystems
Govt forms Panel to Assess Impact of Waiving Loan Interest
News: Union government has constituted an expert committee to measure the economic impact of waiving interest on the Covid-19 related loan moratorium. Facts: About the Panel: The expert panel will be chaired by Rajiv Mehrishi, former Comptroller and Auditor General (CAG) of India, and will submit its report within one week. Mandate: It will measure… Continue reading Govt forms Panel to Assess Impact of Waiving Loan Interest
Overall FDI rises 10% in FY20, but money coming in from Cayman Islands jumps 305%
News: Reserve Bank of India has released the data on the Foreign direct investment(FDI) into India. Facts: Singapore and Mauritius remained the major source countries accounting for about 50% of total FDI flows in 2019-20. They were followed by the Netherlands, the Cayman Islands, US and Japan. The FDI from Cayman Islands has jumped 305%… Continue reading Overall FDI rises 10% in FY20, but money coming in from Cayman Islands jumps 305%
