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.

Crisis Recovery Facility

News:Asian Infrastructure Investment Bank(AIIB) has set up a US$10 billion Crisis Recovery Facility in the wake of the Coronavirus pandemic. Facts: Aim: To provide financing to both public and private sector entities within its members facing serious adverse impacts as a result of Coronavirus pandemic. Additional Facts: AIIB: The Asian Infrastructure Investment Bank(AIIB) is an… Continue reading Crisis Recovery Facility

Special Drawing Rights

News: India has opposed the general allocation of new Special Drawing Rights (SDR) by the International Monetary Fund(IMF) because it might not be effective as new SDR allocation provides all 189 members with new foreign exchange reserves with no conditions. Facts: Special Drawing Right(SDR):It is neither a currency nor a claim on the IMF.It is… Continue reading Special Drawing Rights

FDI from neighbouring countries

News:The Government of India has revised its existing Foreign Direct Investment policy in light of the current COVID-19 pandemic.  Facts: New FDI Policy: It has made prior government approval mandatory for foreign direct investments(FDI) from countries which share a land border with India or where the beneficial owner of an investment is situated in such… Continue reading FDI from neighbouring countries

Finance Minister attends the Development Committee Meeting of the World Bank-IMF

News: The Union Finance Minister participated in the 101st Meeting of the Development Committee of the World Bank-IMF through a video conference. Facts:  The main discussions were on World Bank Group Response to the COVID-19 Emergency, and the Covid-19 Debt Initiative: International Call for Action in Support of IDA Countries. World Bank has provided a… Continue reading Finance Minister attends the Development Committee Meeting of the World Bank-IMF

Sovereign Gold Bond Scheme

News:The Government of India in consultation with the Reserve Bank of India has decided to issue Sovereign Gold Bonds. Facts: The Sovereign Gold Bond Scheme was introduced in 2015.They are government securities denominated in grams of gold. Aim: To reduce the demand for physical gold and shift a part of the domestic savings used for… Continue reading Sovereign Gold Bond Scheme

World Economic Outlook

News:The International Monetary Fund(IMF) has released the World Economic Outlook Report. 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. Additional Facts: International Monetary Fund(IMF): It is an organization of 189 countries which seeks to ensure the stability of… Continue reading World Economic Outlook

What is helicopter money?

News:Telangana Chief Minister has suggested RBI to adopt the concept of Helicopter Money to help state governments tide over the current crisis and kickstart economic activity in India. Facts: Origin: The term Helicopter Money was given by American Economist Milton Friedman in his paper “The Optimum Quantity of Money”. Helicopter money: It refers to an… Continue reading What is helicopter money?

India, US in talks for dollar swap line

News:India is working with the United States to secure a dollar (currency) swap line that would help in providing an additional comfort in an event of any abrupt outflow of funds. Facts: Dollar Swap arrangement: Under this, the US Federal Reserve will provide dollars to a foreign central bank.  At the same time,the foreign central… Continue reading India, US in talks for dollar swap line

Developing Country Status

News:The US President has accused China of taking advantage of the US through the World Trade Organisation(WTO) saying that if China is considered a ‘developing country’, the US should be called one too. Facts: Developing Country Status in WTO: There are no WTO definitions of developed and developing countries. Members announce for themselves whether they… Continue reading Developing Country Status

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