Source: Livemint What is the news? The Union government is considering raising the creamy layer income threshold for other backward classes (OBCs) beyond the current Rs 800,000 per annum. Introduction The Union government is said to be considering raising the barrier to Rs 1.2 million, bringing more people under the OBC reservation who may have… Continue reading Govt may hike OBC creamy layer slab
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.
India emerges as 5th largest forex reserves holder in the world
Source: PIB What is the News? The Minister of State for Finance has informed Lok Sabha about the state of India’s Forex Reserves. State of India’s Forex Reserves: India’s forex reserves currently stand at $608.99 billion as on June 25, 2021. India has emerged as the fifth largest foreign exchange reserves holder in the world… Continue reading India emerges as 5th largest forex reserves holder in the world
Government sets up Dairy Investment Accelerator to promote and facilitate investments in the Dairy sector
Source: PIB What is the News? The Department of Animal Husbandry and Dairying(DAHD) has set up a Dairy Investment Accelerator under its Investment Facilitation Cell. About Dairy Investment Accelerator: Dairy Investment Accelerator is a cross-functional team constituted to serve as the interface with investors. It shall provide support across the investment cycle by: Offering specific… Continue reading Government sets up Dairy Investment Accelerator to promote and facilitate investments in the Dairy sector
Government eases stocking norms for pulses importers, wholesalers
Source: TOI What is the News? Government of India has eased stock holding limits on pulses after traders protested by staying away from the buying-selling activities in mandis across the country. Background: The Department of Consumer Affairs had issued the Removal of Licensing Requirements, Stock Limits, and Movement Restrictions on Specified Foodstuffs (Amendment) Order, 2021.… Continue reading Government eases stocking norms for pulses importers, wholesalers
Union Power Minister releases 9th Integrated Ratings of State Power Distribution utilities and Rankings
Source: PIB What is the News? The Union Minister of Power has released 9th Integrated Ratings for State Power Distribution Utilities. About Integrated Ratings for State Power Distribution Utilities: The Ministry of Power had formulated an Integrated Rating exercise in 2012. It evaluates the performance of State Power Distribution utilities on a range of parameters… Continue reading Union Power Minister releases 9th Integrated Ratings of State Power Distribution utilities and Rankings
Financial inclusion is a policy priority: Das
Source: The Hindu What is the News? The Reserve Bank of India(RBI) Governor addressed the Economic Times Financial Inclusion Summit. Key Highlights from the Address: Financial Inclusion: Financial Inclusion will continue to be the RBI’s policy priority as India recovers from the pandemic. For this, RBI will soon launch a ‘financial inclusion index’ to measure… Continue reading Financial inclusion is a policy priority: Das
Mastercard can’t issue new cards from July 22: RBI
Source: TOI What is the News? The Reserve Bank of India(RBI) has barred Mastercard from issuing new domestic cards over violation of RBI’s directions on storage of payment system data. Rules regarding Storage of Payment System Data: The Reserve Bank of India has issued a directive in 2018 on ‘Storage of Payment System Data’. It… Continue reading Mastercard can’t issue new cards from July 22: RBI
Constitution of an Expert Committee on Longevity Finance
Source: PIB What is the News? International Financial Services Centers Authority(IFSCA) has set up an expert committee. It will recommend an approach towards the development of the Longevity Finance Hub in the Gift-City in Gujarat and provide a road map for the same. Aim of Longevity Finance Hub: Longevity Finance Hub aims to cater to… Continue reading Constitution of an Expert Committee on Longevity Finance
Rising fuel prices eating into health spends: SBI report
Source: Times of India What is the news? A recent report by SBI shows that expenditure on non-discretionary items (including health) is reducing due to rising fuel prices. This calls for urgent lowering of prices through tax rationalisation. Background: SBI has released a report which tries to show the relationship between rising inflation and expenditure… Continue reading Rising fuel prices eating into health spends: SBI report
State of Food Security and Nutrition in the World 2021 report
Source: Down to Earth What is the news? Key findings of the Food and Agriculture Organization (FAO)’s latest State of Food Security and Nutrition in the World 2021 report The FAO report has quoted a study done in 63 low- and middle-income countries covering a population of 3.5 billion on changes in the income of people. It… Continue reading State of Food Security and Nutrition in the World 2021 report
