News: Union Petroleum Minister has inaugurated the Indian Gas Exchange (IGX). Facts: Indian Gas Exchange(IGX): It is India’s first online natural gas trading platform that will enable market participants to trade in standardised gas contracts. It is owned and operated by the Indian Energy Exchange(IEX). Significance: It is expected to facilitate overall transparent price discovery… Continue reading India’s first gas trading platform launched
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 stares at 5th recession: How is it different from the past downturns?
News: India is staring at the 5th recession which will be different from previous recessions and will come with a fresh set of challenges. Facts: Recession: It is generally defined as a fall in the overall economic activity for two consecutive quarters (six months) accompanied by a decline in income, sales and employment. Previous Recessions:… Continue reading India stares at 5th recession: How is it different from the past downturns?
RBI panel to review ownership of private banks
Facts: Reserve Bank of India (RBI) has constituted a five-member Internal Working committee to review ownership guidelines and corporate structure for ‘Indian Private Sector Banks’.It is headed by P K Mohanty.
Reserve Bank proposes to shore up bank boards
News: The Reserve Bank of India(RBI) has issued a discussion paper on ‘Governance in Commercial Banks’.The discussion paper aims to create a clearly definable separation between the board and the management of a bank. Facts: Guidelines Coverage: The guidelines are applicable to private, foreign and public sector banks. It will come into effect within six… Continue reading Reserve Bank proposes to shore up bank boards
Explained: Shapes of Economic Recovery
News: As India is going to come out of the Covid-19 lockdown, experts are debating over the shape of recovery of Indian economy. Facts:
Economy to contract by 3.2% this fiscal, says World Bank
News: The World Bank has released the Global Economic Prospects (GEP) June 2020 report. Facts: Global Economic Prospects is a World Bank Group flagship report that is issued twice a year, in January and June. Aim: To examine global economic developments and prospects with a special focus on emerging markets and developing economies. Key Takeaways:… Continue reading Economy to contract by 3.2% this fiscal, says World Bank
RBI creates Payment Infrastructure Development Fund
News: Reserve Bank of India(RBI) has created a Payment Infrastructure Development Fund of Rs 500 crores. Facts: Aim: To encourage the deployment of Points of Sale(PoS) infrastructure both physical and digital modes in smaller cities, towns and north eastern states. Contribution: RBI will make an initial contribution of Rs 250 crore to the fund. The… Continue reading RBI creates Payment Infrastructure Development Fund
Periodic Labour Force Survey(PLFS) – Annual Report
News: National Statistical Office(NSO) has released the Periodic Labour Force Survey(PLFS) for July 2018 to June 2019. Facts: Unemployment Rate(UR): It is defined as the percentage of persons unemployed among the persons in the labour force. It has reduced to 5.8% during 2018-19 from 6.1% during the same period of 2017-18.Under this, urban unemployment rate… Continue reading Periodic Labour Force Survey(PLFS) – Annual Report
Cabinet sets up Secretaries’ group to attract investment
News: Union Cabinet has approved the setting up of an empowered group of secretaries(EGoS) and project development cells(PDCs) in Ministries and departments for attracting investments to India. Facts: Empowered Group of Secretaries(EGoS): Composition: Cabinet Secretary (Chairperson) Secretary, Department for Promotion of Industry and Internal Trade (Member Convenor) CEO, NitiAayog (Member), Secretary, Department of Commerce (Member),… Continue reading Cabinet sets up Secretaries’ group to attract investment
Non-profit Organisations Can Directly List on Social Stock Exchanges: Sebi Panel
News: Sebi-constituted panel under the chairmanship of Ishaat Hussain has submitted its recommendations on social stock exchange(SSE). Facts: Key Recommendations: Direct listing of non-profit organisations(NGO) through the issuance of bonds and a range of funding mechanisms. Tax Sops: It has recommended exemptions from securities transaction tax (STT) and capital gains tax (CGT) to ensure that… Continue reading Non-profit Organisations Can Directly List on Social Stock Exchanges: Sebi Panel
