News:The Government of India has revised its existing Foreign Direct Investment policy in light of the current COVID-19 pandemic. Facts: New FDI Policy: It has made prior government approval mandatory for foreign direct investments(FDI) from countries which share a land border with India or where the beneficial owner of an investment is situated in such… Continue reading FDI from neighbouring countries
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.
Finance Minister attends the Development Committee Meeting of the World Bank-IMF
News: The Union Finance Minister participated in the 101st Meeting of the Development Committee of the World Bank-IMF through a video conference. Facts: The main discussions were on World Bank Group Response to the COVID-19 Emergency, and the Covid-19 Debt Initiative: International Call for Action in Support of IDA Countries. World Bank has provided a… Continue reading Finance Minister attends the Development Committee Meeting of the World Bank-IMF
Sovereign Gold Bond Scheme
News:The Government of India in consultation with the Reserve Bank of India has decided to issue Sovereign Gold Bonds. Facts: The Sovereign Gold Bond Scheme was introduced in 2015.They are government securities denominated in grams of gold. Aim: To reduce the demand for physical gold and shift a part of the domestic savings used for… Continue reading Sovereign Gold Bond Scheme
World Economic Outlook
News:The International Monetary Fund(IMF) has released the World Economic Outlook Report. Facts: The report is published twice a year. Aim: To provide analysis and forecasts of economic developments of member countries and highlights risks and uncertainty. Additional Facts: International Monetary Fund(IMF): It is an organization of 189 countries which seeks to ensure the stability of… Continue reading World Economic Outlook
All India Agri Transport Call Centre
News: Ministry of Agriculture and Farmers’ Welfare launched All India Agri Transport Call Centre Facts: Aim: Facilitate coordination between states for inter-state movement of perishables. It is an initiative of the Department of Agriculture, Cooperation and Farmers Welfare.
What is helicopter money?
News:Telangana Chief Minister has suggested RBI to adopt the concept of Helicopter Money to help state governments tide over the current crisis and kickstart economic activity in India. Facts: Origin: The term Helicopter Money was given by American Economist Milton Friedman in his paper “The Optimum Quantity of Money”. Helicopter money: It refers to an… Continue reading What is helicopter money?
India, US in talks for dollar swap line
News:India is working with the United States to secure a dollar (currency) swap line that would help in providing an additional comfort in an event of any abrupt outflow of funds. Facts: Dollar Swap arrangement: Under this, the US Federal Reserve will provide dollars to a foreign central bank. At the same time,the foreign central… Continue reading India, US in talks for dollar swap line
Developing Country Status
News:The US President has accused China of taking advantage of the US through the World Trade Organisation(WTO) saying that if China is considered a ‘developing country’, the US should be called one too. Facts: Developing Country Status in WTO: There are no WTO definitions of developed and developing countries. Members announce for themselves whether they… Continue reading Developing Country Status
6 theme-based microsites to promote tourism spots
News: Kerala has put forward six theme-based microsites in the official website to promote destination and tourism products. Facts: Aim: To boost tourism post COVID-19 pandemic Featured Microsites: Ayurveda Yoga Kalaripayattu (an ancient martial art indigenous to Kerala) Temples of Kerala Judaism in Kerala and Discovering Malabar Additional Facts: Iconic Tourist Sites Initiative Nodal Ministry:… Continue reading 6 theme-based microsites to promote tourism spots
Green Bonds
News:State Bank of India(SBI) has raised $100 million in green bonds through private placement. Facts: Green Bonds:They are fixed-income financial instruments issued for funding of specific projects which have positive environmental and climate benefits. Categories: SEBI has allocated eight categories as green projects: a) renewable energy b) clean transportation c) sustainable water management d) climate… Continue reading Green Bonds
