News: Indian Railways has bagged 13 awards at the ‘National Energy Conservation awards 2020’. Facts: National Energy Conservation Awards: The awards are organised by the Bureau of Energy Efficiency (BEE), Ministry of Power. Instituted in: The awards were given for the first time on 14th December, 1991 which is celebrated as National Energy Conservation Day throughout the country. Objective: These Awards… Continue reading National Energy Conservation awards 2020
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 launches Single Window Clearance Portal of Ministry of Coal
News: Union Home Minister has launched a Single Window Clearance Portal of the Ministry of Coal. Facts: Single Window Clearance Portal: The portal aims to allow successful bidders for coal blocks to be able to obtain all required clearances, including environmental and forest clearances, from a single portal with progress monitoring, instead of having to go to… Continue reading Government launches Single Window Clearance Portal of Ministry of Coal
Rs. 1,364 crore given to wrong beneficiaries of PM-Kisan
News: According to an Right to Information (RTI) reply, Union government has paid Rs 1,364 crore to 20.48 lakh ineligible beneficiaries under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme till July 2020. Facts: There were two categories of undeserving beneficiaries who received PM-KISAN payouts namely the “ineligible farmers” and “income tax payee farmers”. More than… Continue reading Rs. 1,364 crore given to wrong beneficiaries of PM-Kisan
Union Minister to launch “Khadi Prakritik Paint” developed by KVIC
News: Union Minister for Road Transport & Highways will be launching an innovative new called “Khadi Prakritik Paint”. Facts: Khadi Prakritik Paint: It has been conceptualized by the Khadi and Village Industries Commission (KVIC) and later developed by Kumarappa National Handmade Paper Institute, Jaipur (a KVIC unit). Key Characteristics: It is a first-of-its-kind eco-friendly, non-toxic paint with… Continue reading Union Minister to launch “Khadi Prakritik Paint” developed by KVIC
1,600 new tech start-ups and 12 unicorns in 2020: Nasscom’s Indian Tech Start-up Ecosystem report
News: National Association of Software and Services Companies (Nasscom) has released the annual start-up report ‘Indian Tech Start-up Ecosystem – On the March to Trillion Dollar Digital Economy’. Facts: Key Takeaways from the Report: Source: NASSCOM Report India has added 1,600 new tech start-ups and a record 12 unicorns in 2020 (the highest ever added in… Continue reading 1,600 new tech start-ups and 12 unicorns in 2020: Nasscom’s Indian Tech Start-up Ecosystem report
World Bank’s Global Economic Prospects Report predicts contraction of Indian economy
News: The World Bank has released the Global Economic Prospects report. Facts: Global Economic Prospects Report: It is a World Bank Group flagship report that examines global economic developments and prospects, with a special focus on emerging markets and developing economies. It is issued twice a year, in January and June. Key Takeaways from the… Continue reading World Bank’s Global Economic Prospects Report predicts contraction of Indian economy
RBI unveils guidelines for Payment Infrastructure Development Fund
News: Reserve Bank of India(RBI) has announced operational guidelines for the Payments Infrastructure Development Fund (PIDF) scheme. Facts: Objectives of the Fund: To increase the number of acceptance devices multi-fold in the country. To benefit the acquiring banks / non-banks and merchants by lowering overall acceptance infrastructure cost. To increase payments acceptance infrastructure by adding… Continue reading RBI unveils guidelines for Payment Infrastructure Development Fund
What are spectrum auctions?
News: Department of Telecommunications (DoT) said on Wednesday (January 6) that auctions for 4G spectrum in the 700, 800, 900, 1,800, 2,100, 2,300, and 2,500 MHz bands will begin from March 1. Licence holders have until February 5 to submit their applications. Facts: What are Spectrum Auctions? Devices such as cellphones and wireline telephones require… Continue reading What are spectrum auctions?
Government approves new scheme for Industrial Development of Jammu & Kashmir
News: Cabinet Committee on Economic Affairs has approved the Central Sector Scheme for Industrial Development of Jammu & Kashmir. Facts: Aim: To develop development of Manufacturing as well as Service Sector Units in J&K which will generate employment and leads to the socio economic development of the area. Incentives: The following incentives would be available… Continue reading Government approves new scheme for Industrial Development of Jammu & Kashmir
PM inaugurates Rewari – Madar section on Western corridor
News: The Prime Minister of India has inaugurated the Rewari – Madar section on Western Corridor. Facts: Rewari – Madar section: It is a part of Western Dedicated Freight Corridor(WDFC).It falls in Haryana (for approximately 79 Km in Mahendragarh & Rewari districts) and Rajasthan (approximately 227 Km in Jaipur, Ajmer, Sikar, Nagaur and Alwar districts)… Continue reading PM inaugurates Rewari – Madar section on Western corridor
