News: Kerala has put forward six theme-based microsites in the official website to promote destination and tourism products. Facts: Aim: To boost tourism post COVID-19 pandemic Featured Microsites: Ayurveda Yoga Kalaripayattu (an ancient martial art indigenous to Kerala) Temples of Kerala Judaism in Kerala and Discovering Malabar Additional Facts: Iconic Tourist Sites Initiative Nodal Ministry:… Continue reading 6 theme-based microsites to promote tourism spots
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.
Green Bonds
News:State Bank of India(SBI) has raised $100 million in green bonds through private placement. Facts: Green Bonds:They are fixed-income financial instruments issued for funding of specific projects which have positive environmental and climate benefits. Categories: SEBI has allocated eight categories as green projects: a) renewable energy b) clean transportation c) sustainable water management d) climate… Continue reading Green Bonds
Certificate of Origin
News:Commerce ministry has created an online platform for issuance of ‘certificate of origin’ for exporters. Facts: Certificate of Origin: It is a document used in International trade declaring in which country a commodity or good was manufactured. Significance:They are essential for exporters to prove where their goods come from and therefore stake their claim to… Continue reading Certificate of Origin
ARTIS
News:The Directorate General of Trade Remedies (DGTR), Ministry of Commerce and Industry has launched ARTIS(Applications for Remedies in Trade for Indian Industry and other Stakeholders). Facts: ARTIS: It is an online system developed for filing applications by the domestic industry with respect to various trade remedial measures such as anti-dumping duty, safeguard duty and countervailing… Continue reading ARTIS
The Great Depression 1929
News:Economists have been comparing the current crisis with the Great Depression of 1929. Facts: The Great Depression was a major economic crisis that began in the United States in 1929 and went to have a worldwide impact until 1939. Reasons: a) U.S Stock Market Crash of 1929 b) Bank Failures c) Reduction in Purchasing Across… Continue reading The Great Depression 1929
Explained:What is Round Tripping?
News:Supreme Court has rejected the Income Tax department notice against a News Channel alleging round tripping of money. Facts: Round tripping refers to money that leaves the country through various channels and makes its way back into the country often as foreign investment. Reasons:There are various reasons that promote round tripping.Mainly, Tax concessions allowed in… Continue reading Explained:What is Round Tripping?
Fiscal Responsibility and Budget Management(FRBM) Act
News:Kerala Government has sought relaxation under the Fiscal Responsibility and Budget Management(FRBM) Act so as to ensure that the State’s finances are not adversely impacted in the wake of Coronavirus. Facts: The Fiscal Responsibility and Budget Management Act (FRBM Act) was enacted in 2003 to introduce transparency in India’s fiscal management systems by reducing fiscal… Continue reading Fiscal Responsibility and Budget Management(FRBM) Act
COUNTERCYCLICAL CAPITAL BUFFER (CCyB)
News: The Reserve Bank of India (RBI) has deferred implementation of countercyclical capital buffers (CCyB). RBI had put in place the framework on countercyclical capital buffer (CCyB) in 2015 Facts: Capital Buffer: Mandatory capital that financial institutions are required to hold. They were mandated under the Basel III regulatory reforms, which were implemented following the… Continue reading COUNTERCYCLICAL CAPITAL BUFFER (CCyB)
Ways and Means Advances
News:The government has increased the limit on Ways and Means Advance (WMA) by 60% to support the cash flow mismatch expected from higher spending to combat the spread of COVID-19. Facts: Ways and Means Advances(WMA) Scheme was introduced in 1997. Purpose: These are temporary loan facilities provided by the Reserve Bank of India(RBI) to the… Continue reading Ways and Means Advances
Recession
News:The International Monetary Fund(IMF) has said that the world has entered into a global recession due to the coronavirus crisis. Facts: A recession is a period when economic activities are in a general decline typically accompanied by unemployment, falling income and consumer spending. To overcome recession, countries generally react by loosening their monetary policies by… Continue reading Recession
