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.

Cabinet clears Ordinance to remove restrictions on coal block bidding

News: The Union Cabinet has approved the Promulgation of Mineral Laws (Amendment) Ordinance 2020 Facts: It amends Mines and Minerals (Development and Regulation) Act 1957 and Coal Mines (Special Provisions) Act 2015. Key features: Allows companies that do not have coal mine operations in India to also participate in coal block auctions. It provides for… Continue reading Cabinet clears Ordinance to remove restrictions on coal block bidding

CCI Releases ‘Market Study on E-commerce in India’

News:The Competition Commission of India(CCI) has released a Report titled ‘Market Study on E-commerce in India: Key Findings and Observations’. Facts: Key takeaways from the study: The E-Commerce Sector was established in 2009.However, the sector gained momentum in 2014.  In 2017, the sector held 3,500 million USD investment.There are around 4757 E-commerce start-ups in India… Continue reading CCI Releases ‘Market Study on E-commerce in India’

GDP growth rate for 2019-20 estimated at 5%, says NSO

News:The National Statistical Office (NSO) has released the First Advance Estimates for the financial year 2019-20. Facts: Key takeaways from the estimates: The Indian economy is estimated to grow at 5% in 2019-20 as against 6.8% in the previous fiscal. This projected growth rate of gross domestic product(GDP) is the lowest in the last 11… Continue reading GDP growth rate for 2019-20 estimated at 5%, says NSO

Stressed urban cooperative banks to face PCA-like curbs

News:The Reserve Bank of India has revised its supervisory framework for urban co-operative banks(UCBs) to expedite resolution of UCBs experiencing financial stress. Facts: About the revised framework: The framework imposes restrictions on urban cooperative banks(UCBs) for deterioration of financial position in line with the prompt corrective action(PCA) framework that is imposed on commercial banks. The… Continue reading Stressed urban cooperative banks to face PCA-like curbs

‘Mindset to blame for poor response to NPS’

News:According to the Pension Fund Regulatory and Development Authority (PFRDA),National Pension System (NPS) is a less-preferred saving option due to a certain mindset of individuals and corporates. Facts: The PFRDA has said that there are around 7,000 corporates companies registered with PFRDA.However, only 2-4% of employees of these registered companies are covered under NPS. Further,the… Continue reading ‘Mindset to blame for poor response to NPS’

2nd National GST Conference held for streamlining GST system

News:The 2nd National GST Conference of the Commissioners of State Tax and Chief Commissioners of Central Tax was held under the chairmanship of Revenue Secretary,Ministry of Finance. Facts: About the conference: The conference was aimed to build synergy and to share their knowledge and best practices with the intent to bring about uniformity in tax… Continue reading 2nd National GST Conference held for streamlining GST system

NSE launches AI-powered learning platform NSE Knowledge Hub

News:Union Commerce minister has inaugurated the NSE Knowledge Hub. Facts: About NSE Knowledge Hub: The ‘NSE Knowledge Hub’ is an Artificial Intelligence(AI) powered learning ecosystem. The platform has been developed by NSE Academy, a wholly-owned subsidiary of the National Stock Exchange(NSE).  This platform seeks to assist the banking, financial, securities and insurance (BFSI) sector in… Continue reading NSE launches AI-powered learning platform NSE Knowledge Hub

National Pension Scheme for traders fails to gain traction

News:The National Pension Scheme for traders also called the Pradhan Mantri Laghu Vyapari Maan-dhan Yojana has failed to gain traction among the traders. Facts: The Government has set a target of 50 lakh enrolment by the end of March 2020.However,only 25,000 persons have applied so far. Among all states Uttar Pradesh has the highest number… Continue reading National Pension Scheme for traders fails to gain traction

Open Acreage Licensing Programme (OALP)

News: Ministry of Petroleum and Natural Gas signed contracts for 7 blocks, awarded under Open Acreage Licensing Programme (OALP) Bid Round – IV. Facts: Open Acreage Licensing Programme (OALP): Launched in 2016, OALP, is a part of Hydrocarbon Exploration and Licensing Policy (HELP).   It is aimed at enabling faster survey and assessment of areas with… Continue reading Open Acreage Licensing Programme (OALP)

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