What is the News? The Global Wind Energy Council(GWEC) has released the Global Wind Report,2021. About Global Wind Report: The Global Wind Report highlights the role of wind power on the road to net-zero emissions. Key Findings of the report: Firstly, Wind Energy: The world’s capacity to generate electricity from wind jumped 53% in 2020.… Continue reading Global Wind Report 2021
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.
Union Minister inaugurates Event for “DSIR-PRISM Scheme”
What is the News? The Union Minister for Science & Technology inaugurates the Event for Publicity of the PRISM (Promoting Innovations in Individuals, Startups, and MSMEs) scheme. About PRISM Scheme: Nodal Ministry: PRISM is an initiative of the Department of Scientific and Industrial Research(DSIR), Ministry of Science and Technology. Aim: The aim is to help… Continue reading Union Minister inaugurates Event for “DSIR-PRISM Scheme”
Finance Minister launched “Central Scrutiny Centre” and “IEPFA App”
What is the news? The Finance Minister has virtually launched the Central Scrutiny Centre(CSC). She also launched the mobile app for the Investor Education and Protection Fund Authority(IEPFA). About Central Scrutiny Centre: Central Scrutiny Centre is an initiative of the Ministry of Corporate Affairs. It aims to scrutinize the forms filled by companies under straight-through… Continue reading Finance Minister launched “Central Scrutiny Centre” and “IEPFA App”
National Bank for Financing Infrastructure and Development Act, 2021
Introduced: The Bill was introduced in Lok Sabha on 22/03/2021 as a Government Bill (Ministry of Finance, Corporate Affairs and Information & Broadcasting). Present Status: The Bill was passed in both the Houses and received President’s assent on 28.03.2021. About National Bank for Financing Infrastructure and Development (NBFID) Act,2021 Aim: The Act seeks to establish… Continue reading National Bank for Financing Infrastructure and Development Act, 2021
POWERGRID Launches E-Tendering Portal “PRANIT”
What is the News? Power Grid Corporation of India Limited(POWERGRID) launched a portal named “PRANIT”. About PRANIT Portal: PRANIT is an e-Tendering Portal. It aims to make the tendering process more transparent through less paperwork and ease of operation. Significance: The portal is certified by Standardisation, Testing and Quality Certification Directorate(STQC), Ministry of Electronics and… Continue reading POWERGRID Launches E-Tendering Portal “PRANIT”
What is FDI or Foreign Direct Investment?
What is the News? The Rajya Sabha has passed the Insurance (Amendment) Bill, 2021. The Bill seeks to raise the FDI in the insurance sector to 74% from the current 49%. Click Here to Read about Insurance in Amendment Bill,2021 About Foreign Direct Investment(FDI): Foreign Direct Investment(FDI) is the medium for acquiring ownership of assets… Continue reading What is FDI or Foreign Direct Investment?
What are “DFIs or Development Finance Institutions”?
What is the News? The Union Cabinet has approved a bill to set up a DFI (Development Finance Institution). It will be called National Bank for Financing Infrastructure and Development (NaBFID). Click Here to Read about NaBFID About DFIs: The development finance institutions(DFI) are usually owned by the government or public institutions. DFIs provide funds… Continue reading What are “DFIs or Development Finance Institutions”?
“Handicrafts and Handlooms Export Corporation” closed permanently
What is the News? Union Cabinet has approved the closure of loss-making Handicrafts and Handlooms Export Corporation of India Ltd(HHEC). About Handicrafts and Handlooms Export Corporation of India Ltd(HHEC): It is a central public sector undertaking (CPSE) established in 1958 under the administrative control of the Ministry of Textiles. Mandate/Objectives of the Handicrafts and Handlooms… Continue reading “Handicrafts and Handlooms Export Corporation” closed permanently
Cabinet Clears Proposal for Setting up of “Development Finance Institution (DFI)”
What is the news? The Union Cabinet approved a bill to set up a Development Finance Institution(DFI). It will be called National Bank for Financing Infrastructure and Development (NaBFID). About National Bank for Financing Infrastructure and Development (NaBFID): Owned by: Initially, the Government of India will own it with a 100% stake. It will gradually… Continue reading Cabinet Clears Proposal for Setting up of “Development Finance Institution (DFI)”
“Shramik Kalyan Portal” of Indian Railways
What is the News? Indian Railways ensured 100% compliance with the minimum wage pay to contract workers. E-application Shramik Kalyan Portal used for this purpose. About Shramik Kalyan Portal: Launched by: the Indian Railways in the year 2018. Purpose: to ensure compliance with the provisions of the Minimum Wages Act. Also, to ensure that contractual… Continue reading “Shramik Kalyan Portal” of Indian Railways
