What is the news? After the 2018 collapse of IL&FS and 2019 collapse of DHFL, the Reserve Bank of India (RBI) has added the Kolkata-based Srei Group to the country’s list of failed non-bank lenders. The regulator superseded the boards of two non-banking financial companies (NBFCs), Srei Infrastructure Finance Ltd and Srei Equipment Finance Ltd.… Continue reading Srei’s fall and the sorrysaga of shadow lenders
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 rolls out new survey to map job creation in the informal sector
What is the news? The Union government has rolled out a nationwide survey, the Area Frame Establishment Survey (AFES), to map employment generation in the unorganized sector and establishments deploying less than 10 workers. About Area Frame Establishment Survey – The informal sector survey has also been designed by veteran labour economist and statistician S.P. Mukherjee.… Continue reading Centre rolls out new survey to map job creation in the informal sector
The aftermath of delayed central infra projects
What is the news? According to the Ministry of Statistics and Programme Implementation (MoSPI) – As many as 470 central sector projects have witnessed a combined cost overrun of ₹4.37 trillion. – 560 projects have an average time overrun of 46.94 months. Why are the projects delayed? The following factors have resulted in delays: –… Continue reading The aftermath of delayed central infra projects
Government approves continuation of the National Export Insurance Account (NEIA) scheme and infusion of Rs. 1,650 crore Grant-in-Aid over 5 years
What is the News? The Union Government has approved the contribution of Grant-in-aid (Corpus) of ₹1,650 Crore to the National Export Insurance Account (NEIA) over a period of five years, i.e. from FY 2021-2022 to FY 2025-2026. What is the National Export Insurance Account(NEIA)? National Export Insurance Account (NEIA) Trust was set up in 2006.… Continue reading Government approves continuation of the National Export Insurance Account (NEIA) scheme and infusion of Rs. 1,650 crore Grant-in-Aid over 5 years
No Amarnath Yatra but highway construction work keeps Sonamarg abuzz
What is the News? The government is planning to complete the massive Zojila tunnel before Republic Day 2024. About Zojila Tunnel Zojila Tunnel is a 14.15 km long road tunnel under Zoji La pass. Once completed, it will be India’s longest road tunnel and Asia’s longest bidirectional tunnel. This tunnel along with a 6.5 km… Continue reading No Amarnath Yatra but highway construction work keeps Sonamarg abuzz
Government approves Rs. 4,400 crore investment in ECGC Ltd. in 5 years to provide support to exporters as well as banks
What is the News? The government of India has approved capital infusion of ₹4,400 crores to ECGC Ltd. (formerly known as Export Credit Guarantee Corporation of India Ltd.) over a period of five years, i.e. from FY 2021-2022 to FY 2025- 2026. About ECGC Ltd. (formerly known as Export Credit Guarantee Corporation of India Ltd.)… Continue reading Government approves Rs. 4,400 crore investment in ECGC Ltd. in 5 years to provide support to exporters as well as banks
MSME Minister launches India Export Initiative and IndiaXports 2021 Portal
What is the News? The Union Minister for Micro, Small & Medium Enterprises(MSMEs) has inaugurated the India Export Initiative and IndiaXports 2021 Portal of India SME Forum. What is the India Export Initiative? The initiative aims to support the growth of MSMEs exports by providing free of cost information and knowledge to MSMEs on the… Continue reading MSME Minister launches India Export Initiative and IndiaXports 2021 Portal
Cause for optimism as our economy livens up
What is the news? Recent tax collections are reported to be bright enough for India’s government not to raise money from the market to honour its GST-gap funding commitment of almost ₹1.6 trillion to states. The Centre laid out a plan to borrow only ₹5.03 trillion in the second half of 2021-22, on top of the ₹7.02 trillion raised in… Continue reading Cause for optimism as our economy livens up
A jobs problem: Labour data in India is lagged and patchy. But supply-demand mismatch is still clear
What is the news? Recently, GOI unveiled a quarterly report on employment for April-June, which estimates the labour demand of nine handpicked non-farm sectors by surveying establishments with 10 people or more. What has been the job market trend in India? India’s economy has been slowing down since 2017-18. Three successive years of dropping GDP… Continue reading A jobs problem: Labour data in India is lagged and patchy. But supply-demand mismatch is still clear
Govt aims to tap solar energy to power cold chain facilities
What is the News? India has planned to utilize solar power to offer uninterrupted power to cold-chain facilities for storing vaccines. Storage of Vaccines and the need for solar power There are over 29,000 cold chain storage facilities across India that are used to store both Covid-19 and non-Covid-19 vaccines. However, due to unreliable electricity… Continue reading Govt aims to tap solar energy to power cold chain facilities
