News:Finance Minister has released a report of task force on National Infrastructure on Pipeline(NIP) 2019-2025. Facts: About National Infrastructure on Pipeline(NIP) Task force: The Central Government had constituted a task force to draw up a National Infrastructure Pipeline(NIP) from 2019-20 to 2024-25. The Task Force has been chaired by the Secretary, Department of Economic Affairs,Ministry… Continue reading Finance Minister unveils ₹102 lakh crore national infrastructure plan
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.
Telangana Industrial Health Clinic to spread wings
News:The Telangana Industrial Health Clinic Ltd, an initiative of the Telangana State government has decided to extend its services at pan India level. Facts: About Telangana Industrial Health Clinic Ltd: Telangana Industrial Health Clinic Ltd was established in 2018 as a fintech Non-Banking Finance Company(NBFC). It is a diagnostic and curative initiative for Micro and… Continue reading Telangana Industrial Health Clinic to spread wings
Current account deficit improves to 0.9% of GDP in July-September quarter, says RBI
News:According to Reserve Bank of India data,India’s current account deficit (CAD) has narrowed to 0.9% of GDP($ 6.3 billion). Facts: The contraction in the current account deficit(CAD) was primarily on account of a lower trade deficit at USD 38.1 billion as compared to USD $50 billion a year ago. The private transfer receipts mainly representing… Continue reading Current account deficit improves to 0.9% of GDP in July-September quarter, says RBI
Finance Minister launches ‘eBkray’ online auction platform for assets attached by banks
News:Union Finance Minister has launched an eBkray or eBक्रय which is a common e-auction platform. Facts: About the eBkray platform: The eBkray platform enables the online auction of the attached assets transparently and cleanly for the improved realization of value by the Public Sector banks(PSBs). The platform is equipped with property search features and navigational… Continue reading Finance Minister launches ‘eBkray’ online auction platform for assets attached by banks
MOSPI constitutes committee on economic statistics
News:The Ministry of Statistics and Programme Implementation(MOSPI) has constituted a Standing Committee on Statistics(SCES). Facts: Background: The committee has been constituted after several economists had expressed concern over political interference in influencing statistical data in India. They had called for restoration of institutional independence and integrity to the statistical organisations. About the committee: The committee… Continue reading MOSPI constitutes committee on economic statistics
RBI directs large co-op banks to report all exposures above Rs.5 crore
News:The Reserve Bank of India(RBI) has directed large cooperative banks to report all aggregate exposures of Rs.5 crores and more to Central Repository of Information on Large Credits(CRILC). Facts: About CRILC: The Reserve Bank of India has created a CRILC of commercial banks, certain Non-Banking Financial Companies (NBFCs) and All India Financial Institutions(AIFIs). CRILC collects,… Continue reading RBI directs large co-op banks to report all exposures above Rs.5 crore
India may surpass Germany to become the fourth-largest economy in 2026:Report
News:The UK-based Centre for Economics and Business Research (CEBR) has released a report titled ‘World Economic League Table 2020’. Facts: About the report: The World Economic League Table is an annual calculation by Centre for Economics and Business Research (CEBR) jointly published by CEBR and Global Construction Perspectives. The base data for 2019 is taken… Continue reading India may surpass Germany to become the fourth-largest economy in 2026:Report
Financial system stable despite slowdown:RBI report
News:The Reserve Bank of India has released its biannual Financial Stability Report,2019. Facts: About Financial Stability Report: The Financial Stability Report are bi-annual reports published by the Reserve Bank of India(RBI). The report is the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability. It reviews… Continue reading Financial system stable despite slowdown:RBI report
Scheme for Enhancement of Competitiveness in Capital Goods Sector to be Scaled up
News:Ministry of Heavy Industries and Public Enterprises is implementing the scheme for Enhancement of Competitiveness in the Indian Capital Goods Sector. Facts: About the scheme: Department of Heavy Industry in the Ministry of Heavy Industries and Public Enterprises had launched the scheme for Enhancement of Competitiveness in the Indian Capital Goods Sector in 2014. The… Continue reading Scheme for Enhancement of Competitiveness in Capital Goods Sector to be Scaled up
GST Council to set up grievance redressal mechanism for taxpayers
News:The GST Council has decided to set up a grievance redressal mechanism for taxpayers. Facts: About Grievance Redressal Committee(GRC): The Grievance Redressal Committee(GRC) at zonal and state levels will be set up as a redressal mechanism for taxpayers. It will consist of both central tax and state tax officers, representatives of trade and industry and… Continue reading GST Council to set up grievance redressal mechanism for taxpayers
