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
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.
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
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. About Khavda Renewable Energy Park Khavda Renewable Energy Park is the world’s largest renewable energy park in Gujarat’s Kutch. The park will be built along the Indo-Pak border at… 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
What is the News? The UK’S Department of International Trade has released a report titled ‘Global Trade Outlook‘. What are the key findings of the report? India’s Imports Currently, India is the eighth-largest importing country, with a 2.8% import share. It is set to become the fourth-largest importer by 2030. Moreover, India will become the… 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
Recommendations of 45th GST Council Meeting
What is the News? The Finance Minister has chaired the 45th Goods and Service Tax (GST) Council meeting. This was the first in-person GST meet since the Covid-19 pandemic. What are the key recommendations made at the GST Council meeting? Concession on Medicines Life-saving drugs Zolgensma and Viltepso used in the treatment of Spinal-Muscular Atrophy… Continue reading Recommendations of 45th GST Council Meeting
5G spectrum auction to allot airwaves may not happen before 2023
What is the news? According to internal consultations in the Department of Telecommunications (DoT), the 5G spectrum auctions will be held in the last quarter of the financial year 2022-23 (FY23). The 5G auction would include 3,300 MHz to 3,600 MHz bands along with the milimetre waves. The base price for the 5G spectrum is around Rs 3.63 trillion.… Continue reading 5G spectrum auction to allot airwaves may not happen before 2023
Non-farm activities need a big push to boost rural incomes, say experts
What is the news? The National Sample Survey (NSS) in its latest findings mentioned that Doubling farmers’ income by 2022 is not feasible. The findings also mentioned reasons such as reduced earnings from crop production and increased debts for not achieving it. The findings also highlighted the need for a strong policy response to reverse the trend.… Continue reading Non-farm activities need a big push to boost rural incomes, say experts
