News:Government has constituted a Committee of External Eminent Persons/Experts for time-bound resolution of disputes in Oil and gas sector. Facts: About the committee: The committee will consist of three members.It will help the oil and gas sector get rid of disputes without having to resort to tardy judicial process. The committee will have a tenure… Continue reading Govt forms expert panel for time-bound resolution of disputes in oil & gas sector
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.
India in the midst of significant slowdown:IMF
News:The International Monetary Fund (IMF) has released its consultations report on India. Facts: Key takeaways from the report: The report has said that India’s rapid economic expansion in recent years has lifted millions of people out of poverty. However in 2019, a combination of factors led to subdued economic growth in India. India is now… Continue reading India in the midst of significant slowdown:IMF
Economic revival key to banks’ health
News:The Reserve Bank of India has released a report titled Trend and Progress of Banking in India 2018-19. Facts: Key Highlights from the report: What are the positives in the Banking sector? The Indian banking sector’s financial parameters such as bad loans and capital adequacy have shown an improvement in recent times. In 2018-19, the… Continue reading Economic revival key to banks’ health
RBI launches Prepaid Payment Instrument for your daily digital payments
News:The Reserve Bank has introduced a new type of prepaid payment instrument (PPI) for daily digital payments. Facts: Features of PPI introduced by RBI: The prepaid payment instrument(PPI) could be used only for purchase of goods and services up to a limit of ₹10,000 per month. PPIs shall be issued by bank and non-bank PPI… Continue reading RBI launches Prepaid Payment Instrument for your daily digital payments
Annual report of the insurance sector
News:The annual report of the Insurance Regulatory and Development Authority of India (IRDAI) for 2018-19 has been released. Facts: Key terminologies: Insurance density is measured as the ratio of premium (in US dollars) to the total population. Insurance penetration is measured as the ratio of premium (in US$) to GDP(in US$). Insurance density and insurance… Continue reading Annual report of the insurance sector
RBI plans its own ‘Operation Twist’; to buy, sell bonds simultaneously
News:The Reserve Bank of India has announced that it will carry out US-style ‘Operation Twist’ to bring down interest rates. Facts: About Operation Twist: Operation Twist is when the central bank uses the proceeds from the sale of short-term securities to buy long-term government debt papers, leading to easing of interest rates on the long… Continue reading RBI plans its own ‘Operation Twist’; to buy, sell bonds simultaneously
States with smaller population take the lead under PMEGP
News:According to the data presented by the Ministry of Micro, Small and Medium Enterprises,states with smaller population take the lead under Prime Minister’s Employment Generation Programme(PMEGP) in the last four years. Facts: The states with smaller populations such as Tamil Nadu, Assam, Karnataka and Arunachal Pradesh except Uttar Pradesh have emerged as major beneficiaries of… Continue reading States with smaller population take the lead under PMEGP
GST Council Meeting: No rate hike, vote for single lottery rate
News:Finance Minister has chaired the 38th GST Council Meeting in New Delhi. Facts: Key takeaways from the meeting: The GST Council has for the first time used the voting process and has voted to tax lotteries under the highest slab of 28%. The Council has decided to tax woven and non-woven bags at 18%, compared… Continue reading GST Council Meeting: No rate hike, vote for single lottery rate
E-commerce can spur intra-South Asia trade: World Bank
News:The World Bank has released a report titled “Unleashing E-Commerce for South Asian Integration”. Facts: Key takeaways from the report: The report has said that e-commerce can become a driver of growth across South Asia and boost trade among the region’s countries but its potential remains largely untapped. The online sales in India as a… Continue reading E-commerce can spur intra-South Asia trade: World Bank
India’s rising retail prices stoke worries of stagflation
News:India’s retail price inflation has jumped to a 40-month high at a time when India’s growth has slowed down to a six-year low.This has prompted some economists to warn that the country could be entering into a stagflationary phase. Facts: About Stagflation: The term Stagflation was first coined by Paul Samuelson who was the first… Continue reading India’s rising retail prices stoke worries of stagflation
