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.

Kovilpatti Kadalai Mittai and Kashmir saffron gets GI tag

News:Geographical Indication Registry of India has accorded Geographical Indication(GI) tag to Kovilpatti Kadalai Mittai and Kashmir saffron. Facts: Kovilpatti Kadalai Mittai: It is peanut candy made in southern parts of Tamil Nadu.The candy is prepared from groundnut and jaggery. Uniqueness: a) Water is exclusively used from the river Thamirabarani and b) Production process is done… Continue reading Kovilpatti Kadalai Mittai and Kashmir saffron gets GI tag

1.6 billion at the risk of losing jobs, warns ILO

News:According to the International Labour Organization(ILO) report, nearly half of the global workforce is at risk of losing livelihoods due to COVID-19. Facts: International Labour Organization(ILO): Established in: 1919  Aim: To promote social and economic justice through setting up of international labour standards. Members: 187 member states Headquarters: Geneva, Switzerland Significance: It is the first… Continue reading 1.6 billion at the risk of losing jobs, warns ILO

GI tag to Manipur black rice, Gorakhpur terracotta

News:Geographical Indication Registry of India has accorded Geographical Indication(GI) tag to Manipur Black Rice and Gorakhpur Terracotta. Facts: Manipur Black Rice: Black rice locally known as chakhao is grown in the plains and hills of Manipur.It owes its colour to natural black pigments called anthocyanins. It is normally eaten during community feasts and is served… Continue reading GI tag to Manipur black rice, Gorakhpur terracotta

Task Force on NIP submits final report to Finance Minister

News:The Task Force on the National Infrastructure Pipeline(NIP) for 2019-25 has submitted its Final Report to the Finance Minister. Facts: National Infrastructure Pipeline(NIP): It is the investment plan unveiled by the Central Government for enhancing infrastructure in identified sectors for a period of five years from 2020-25 with the aim to help India reach a… Continue reading Task Force on NIP submits final report to Finance Minister

International Financial Services Centres Authority

News:Government of India has notified the establishment of International Financial Services Centres Authority(IFSCA). Facts: IFSCA was established to regulate the financial services market in the International Financial Services Centres set up under the Special Economic Zones Act, 2005. Composition:It consists of nine members: a) Chairperson b) members each from the RBI, SEBI, IRDAI, PFRDA c)… Continue reading International Financial Services Centres Authority

RBI announces special liquidity facility for mutual funds

News: Reserve Bank of India(RBI) has announced a special window of ₹50,000 crore for Mutual Funds in view of the pressure that the fund houses are facing in the wake of the Coronavirus pandemic. Facts: Mutual Funds: It is a type of financial vehicle made up of a pool of money collected from many investors… Continue reading RBI announces special liquidity facility for mutual funds

World Bank Migration and Development Brief

News:The World Bank has released its report “Migration and Development Brief”. It focuses on COVID-19 Crisis Through a Migration Lens. Facts: The report is prepared by the Migration and Remittances Unit- the research and data arm of the World Bank.It is released twice a year. Aim:To provide an update on key developments in the area… Continue reading World Bank Migration and Development Brief

Trade and Development Report

News:The United Nations Conference on Trade and Development(UNCTAD) has released its updated Trade and Development Report. Facts: The Trade and Development Report (TDR) is issued every year since 1981. Aim: To analyse current economic trends and major policy issues of international concern and make suggestions for addressing these issues at various levels. Additional Facts: UNCTAD:… Continue reading Trade and Development Report

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