What is the News? The Union Minister of Commerce and Industry has launched the National Single Window System (NSWS) for investors and businesses. What is the National Single Window System (NSWS)? National Single Window System is a one-stop digital platform that aims at allowing investors to apply for various pre-operations approvals required for commencing a… Continue reading National Single Window System for Investors and Businesses Launched
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.
A time to introspect: On GST Council meeting
What is the news? Recently, GST Tax Council held its first physical meeting during the pandemic. It approved various changes. Concessional tax rates on vital COVID-19 equipment such as oxygen concentrators will lapse on Sep 30, while the lower rates on medicines were extended till December. As there are no signs the virus and its variants… Continue reading A time to introspect: On GST Council meeting
Govt to promote pearl farming in tribal areas
Contents1 What is the News?2 What are Pearls?3 How is Pearl Framing done?4 What are the advantages of Pearl Farming? What is the News? TRIFED (Tribal Cooperative Marketing Development Federation of India) has signed an agreement with the Jharkhand-based Purty Agrotech for the promotion of pearl farming in tribal areas. What are Pearls? Pearls are… Continue reading Govt to promote pearl farming in tribal areas
India plan for tighter e-commerce rules faces internal govt dissent: Report
What is the news? India’s plan to tighten rules on its fast-growing e-commerce market has run into internal government dissent, memos reviewed by Reuters show. The Ministry of Finance has described some proposals under the draft e-commerce rules as “excessive” and “without economic rationale”. It should be noted that there’s not yet a formal implementation… Continue reading India plan for tighter e-commerce rules faces internal govt dissent: Report
The doing-better syndrome and our prisoner’s dilemma: On WB ending the EoDB report
What is the news? Doing Business’ report, was recently junked by the World Bank. The author welcomes the move, stating that we celebrated improvements in such rankings without quite understanding the underlying methodology or the impact such rankings had on the lives of a larger group of stakeholders. Must Read: The end of Doing Business… Continue reading The doing-better syndrome and our prisoner’s dilemma: On WB ending the EoDB report
Power Finance Corp set to be India’s 11th Maharatna CPSE
What is the News? Power Finance Corp. Ltd(PFC) is set to become the 11th Maharatna Central Public Sector Enterprise (CPSE) with an inter-ministerial committee clearing the status. What is Maharatna Status? Maharatna Status was introduced for Central Public Sector Enterprises(CPSEs) in 2010 in order to empower mega CPSEs to expand their operations and emerge as… Continue reading Power Finance Corp set to be India’s 11th Maharatna CPSE
Govt eyes 14GWh battery storage system in Kutch
Contents1 What is the News?2 About Khavda Renewable Energy Park3 What are Large Battery Storage systems used for?4 India’s Renewable Energy Capacity and the need of Battery Storage systems What is the News? India has planned to set up around 14 gigawatt-hour (GWh) grid-scale battery storage systems at the Khavda renewable energy park in Gujarat.… Continue reading Govt eyes 14GWh battery storage system in Kutch
Businesses should give useful inputs for FTA negotiations
What is the news? Recently, the Commerce Ministry said that the negotiations for India-UK Free Trade Agreement (FTA) will commence from November this year. The governments in both the countries are eager to conclude an interim agreement quickly, but the businesses are yet to warm up to the idea. What are the findings of the study published by… Continue reading Businesses should give useful inputs for FTA negotiations
India will become 3rd largest importer by 2050: UK report
Contents1 What is the News?2 What are the key findings of the report?2.1 India’s Imports2.2 A shift in Economic Activity2.3 E7 Group of Economies3 What are the concerns highlighted in the report? What is the News? The UK’S Department of International Trade has released a report titled ‘Global Trade Outlook‘. What are the key findings… Continue reading India will become 3rd largest importer by 2050: UK report
Major restructuring of railways on anvil
What is the news? A panel was set up under the Principal Economic Adviser gave recommendations for Rationalisation of Government Bodies and Proposal for the Ministry of Railways. Recently, Cabinet Secretary asked about the actions taken on the rationalisation plan. What are the recommendations of the panel? Closure: Panel calls for winding up the Central… Continue reading Major restructuring of railways on anvil
