What is the News? The World Bank has released the Global Economic Prospects Report. About the Global Economic Prospects Report: Global Economic Prospects is a World Bank Group flagship report. It is issued twice a year, in January and June. Aim: To examine global economic developments and prospects with a special focus on emerging markets… Continue reading World Bank’s “Global Economic Prospects Report” predicts India’s growth as 8.3%
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.
“One Nation One Standard Mission” and “Research Designs & Standards Organization”
What is the News? Indian Railways Research Design & Standards Organization(RDSO) has become the nation’s first institution to be declared as Standard Developing Organization(SDO) under the “One Nation One Standard” mission. About One Nation One Standard Mission: One Nation One Standard was first conceived in 2019 by the Bureau of Indian Standards(BIS). The mission is… Continue reading “One Nation One Standard Mission” and “Research Designs & Standards Organization”
“State of Environment Report” says “Farmer protests” increased fivefold since 2017
What is the news? The Centre for Science and Environment (CSE) has released the State of Environment Report, 2021 in February recently. This article focuses upon the data related to farmer protests as mentioned in the report. Report on Farmers Protests: Farmers Protests in India have registered an almost five-fold increase since 2017. In 2017,… Continue reading “State of Environment Report” says “Farmer protests” increased fivefold since 2017
“Merchandise Exports” in May surge 67% to $32.21 billion
What is the News? The Ministry of Commerce and Industry has released the preliminary data on the Merchandise exports in May 2021. What are the key findings from the data? Merchandise Exports: India’s merchandise exports are estimated at around $32.21 billion in May 2021. This is 67.39% higher when compared to May 2020. The large… Continue reading “Merchandise Exports” in May surge 67% to $32.21 billion
Govt launches the first phase of “MCA21 version 3.0” online portal
What is the News? The government of India has launched the first phase of the MCA21 version 3.0 to its digital corporate compliance portal. About MCA21: Firstly, MCA21 is the online portal of the Ministry of Corporate Affairs(MCA). It was initially launched in 2006. Secondly, Purpose: It has made all company-related information accessible to various… Continue reading Govt launches the first phase of “MCA21 version 3.0” online portal
National Mission on Use of Biomass in Thermal Power plants
What is the News? The Ministry of Power has decided to set up a National Mission on the use of Biomass in thermal power plants. About National Mission on the use of Biomass in thermal power plants: Aim of the mission: It aims to address the issue of air pollution by farm-stubble burning. Further, it… Continue reading National Mission on Use of Biomass in Thermal Power plants
FDI Inflow in 2020-21 in India
What is the News? The Ministry of Commerce released the data on the FDI (Foreign Direct Investment Inflow) in India for the Financial Year 2020-21. Key Highlights from the Data: Firstly, India has received an FDI of $81.72 billion during the financial year 2020-21. This is 10% higher than $74.39 billion received in 2019-20. Secondly,… Continue reading FDI Inflow in 2020-21 in India
SC Ruling on Personal Guarantor’s Liability for Corporate Debt
What is the News? The Supreme Court has upheld the government’s move to allow lenders to initiate insolvency proceedings against personal guarantors. Who is a personal guarantor? To showcase their intent to repay the bank loan on time, the promoters of some big business houses submit a personal guarantee to the lenders. It secures them… Continue reading SC Ruling on Personal Guarantor’s Liability for Corporate Debt
Government Notifies Rules for 74% FDI in Insurance Sector
What is the News? The Finance Ministry notified the Indian Insurance Companies (Foreign Investment) Amendment Rules, 2021. These rules will apply to all insurers irrespective of the stake held by the foreign partner. These rules will give an effect to increased FDI limit in the Insurance Sector to 74% from 49%. Key Provisions of the Rules:… Continue reading Government Notifies Rules for 74% FDI in Insurance Sector
RBI to transfer Surplus Profit to Central Government
What is the News? The RBI (Reserve Bank of India) Central Board has approved the transfer of Rs. 99,122 crore as surplus to the central government. RBI’s Transfer of Surplus to Government: The Reserve Bank of India(RBI) transfers its surplus profits to the Government every year. It is according to the provisions of Section 47… Continue reading RBI to transfer Surplus Profit to Central Government
