What is the News? A Private Security Guard in Chandigarh has stolen Rs 4 crore from a Currency Chest of Axis Bank. What is a Currency Chest? Firstly, A currency chest is a place where the Reserve Bank of India (RBI) stocks the money meant for banks and ATMs. Secondly, Administered by: The RBI administers… Continue reading What is a “Currency Chest”?
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.
Niti Aayog launches Version 2.0 of “India Energy Dashboards”
What is the News? Niti Aayog launches the India Energy Dashboards Version 2.0. Version 1.0 of the Dashboard was launched in May 2017. About India Energy Dashboards: India Energy Dashboards(IED) aims to provide single-window access to the energy data for the country. Purpose: The dashboard compiles Energy data published/provided by various sources. Like the Central… Continue reading Niti Aayog launches Version 2.0 of “India Energy Dashboards”
What is “global minimum corporate income tax”?
What is the News? The US Treasury Secretary has urged the world’s 20 advanced nations to move in the direction of adopting a Global minimum corporate income tax. What is the Global minimum corporate income tax? It is a type of corporate tax. Under this, If a company moves some of its operations to another… Continue reading What is “global minimum corporate income tax”?
IBC Amendment Ordinance 2021 Allows “Pre-Pack Insolvency Resolution”
What is the news? The President of India promulgates the IBC Amendment Ordinance 2021. It allows the use of Pre-Pack insolvency resolution. About Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021: IBC Amendment Ordinance 2021 amends the Insolvency and Bankruptcy Code, 2016. The Amendment allows the use of Pre-Packaged insolvency resolution as an alternative resolution mechanism… Continue reading IBC Amendment Ordinance 2021 Allows “Pre-Pack Insolvency Resolution”
New RBI Developmental and Regulatory Policies
What is the News? Recently RBI released a Statement on Developmental and Regulatory Policies. Under the new RBI policy, the RBI extended fresh support of ₹50,000 crores to the All India Financial Institutions for new lending in FY22. This will help to mitigate the impact of the pandemic and aid economic revival. RBI policy on… Continue reading New RBI Developmental and Regulatory Policies
Government Releases Data on “FDI Inflows in India 2020-21”
What is the News? The Government releases data regarding the Foreign Direct Investment – FDI inflows in India from April to January 2021. FDI inflows in India from April 2020 to January 2021: India attracted a total FDI inflow of US$ 72.12 billion from April to January 2021. Significance: It is the highest ever for… Continue reading Government Releases Data on “FDI Inflows in India 2020-21”
Railways Completes Arch Closure of “Chenab bridge”
What is the News? The Indian Railways completes the Arch closure of the iconic Chenab Bridge. About Chenab Bridge: Chenab Bridge is an Indian railway steel and concrete arch bridge. It is under the construction between Bakkal and Kauri in the Reasi district of Jammu and Kashmir. Length: The bridge is being constructed over the… Continue reading Railways Completes Arch Closure of “Chenab bridge”
“HSN code” Made Mandatory for Certain Category of GST Taxpayers
What is the News? The Government makes the 6 digit HSN (Harmonized System of Nomenclature) code mandatory for a GST taxpayer having a turnover of more than Rs 5 crore in a financial year. This rule comes into effect from April 1,2021. About HSN Code: The HSN Code is a six-digit identification code. The World… Continue reading “HSN code” Made Mandatory for Certain Category of GST Taxpayers
Center to Retain the “Inflation Targeting” at 4% for MPC
What is the news? As per the top finance ministry official, the center will retain the Inflation Targeting of 4% for MPC. Introduction The Centre will retain the inflation target of 4%, with a tolerance band of +/- 2 percentage points. This target will be applicable for the period April 1, 2021, to March 31,… Continue reading Center to Retain the “Inflation Targeting” at 4% for MPC
NITI Aayog Releases “Investment Opportunities in India’s Healthcare Sector” report
What is the News? NITI Aayog released a report titled, ‘Investment Opportunities in India’s Healthcare Sector’. Purpose of the Investment Opportunities in India’s Healthcare Sector Report: The report outlines the range of investment opportunities in various segments of India’s healthcare sector. This includes hospitals, medical devices and equipment, health insurance, telemedicine, home healthcare, and medical… Continue reading NITI Aayog Releases “Investment Opportunities in India’s Healthcare Sector” report
