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.

Cabinet approves“Remission of Duties and Taxes on Exported Products (RoDTEP)” Scheme

News:Union Cabinet has given its approval for introducing the Scheme for Remission of Duties and Taxes on Exported Products(RoDTEP). Facts: About the Scheme: Aim:To reimburse taxes and duties paid by exporters such as value added tax, coal cess, transportation cost among others which are not getting exempted or refunded under any other existing mechanism.  It… Continue reading Cabinet approves“Remission of Duties and Taxes on Exported Products (RoDTEP)” Scheme

Explained:AT-1 bonds

News:The Reserve Bank of India(RBI) reconstruction plan for Yes Bank has put at risk nearly Rs 9,000 crore worth of AT-1 bonds. Facts: About AT-1 Bonds: Additional tier-1 bonds also called AT1 are a type of unsecured, perpetual bonds that banks issue to shore up their core capital base to meet the Basel-III norms. The… Continue reading Explained:AT-1 bonds

Shared economy at $2 bn by end-2020

News:According to a recent report by Maple Capital Advisors, the Shared economy in India is estimated to be about $2 billion industry by the end of 2020. Facts: About Shared Economy: The sharing economy is an economic model defined as a peer-to-peer (P2P) based activity of acquiring, providing or sharing access to goods and services… Continue reading Shared economy at $2 bn by end-2020

Long Term Repo Operation(LTRO)

News:The Reserve Bank of India has received ₹1.71 trillion in the third long-term repo operation(LTRO) conducted for an amount of Rs 25,000 crore. Facts: About LTRO: Long Term Repo Operation(LTRO) is a mechanism to facilitate the transmission of monetary policy actions and to inject liquidity into the banking system to boost credit growth. Under this,the… Continue reading Long Term Repo Operation(LTRO)

MSDE launches Mahatma Gandhi National Fellowship programme in Bengaluru

News:The Union Minister for Skill Development has launched the Mahatma Gandhi National Fellowship(MGNF) programme in the Indian Institute of Management (IIM),Bengaluru. Facts: About MGNF Programme: It has been launched as part of the Skills Acquisition and Knowledge Awareness for Livelihood Promotion(SANKALP) Programme. Aim:To address the challenge of non-availability of personnel for implementation of various programmes… Continue reading MSDE launches Mahatma Gandhi National Fellowship programme in Bengaluru

North East Venture Fund(NEVF)

News:The Government has informed the Parliament that North East Venture Fund(NEVF) has disbursed over Rs.18 crore to 12 start-ups till February,2020. Facts: About NEVF: Launched in 2017 by the North Eastern Development Finance Corporation Limited(NEDFi) in association with the Ministry of Development of North Eastern Region(M-DoNER). Aim:To contribute to the entrepreneurship development of the NER… Continue reading North East Venture Fund(NEVF)

Female Labour-force in India Down from 34% to 24%:UN Study

News:United Nations Global Compact(UNGC) has released a study on women’s participation in India’s labour force. Facts: Key Highlights of the Study: India is the only country among the 153 surveyed countries where the economic gender gap is larger than the political gap. Female labour-force participation in India has declined from 34% in 2006 to 24.8%… Continue reading Female Labour-force in India Down from 34% to 24%:UN Study

Govt approves amendments to Companies Act

News:The Union Cabinet has approved the Companies (Second Amendment) Bill, 2019. Facts: Key Provisions of the Bill: It amends the Companies Act to enable listing of Indian firms on foreign stock exchanges. It decriminalises several existing compoundable offences under the companies Act,2013 to promote ease of doing business. It ensures that companies which have an… Continue reading Govt approves amendments to Companies Act

Central Government rolls out LLP settlement scheme

News:The Centre has introduced a new scheme named LLP Settlement Scheme 2020. Facts: About the Scheme: It aims to help non-compliant Limited Liability Partnership(LLP) firms turn compliant and enable ease of doing business for such entities. Under the Scheme,the Government provides a one-time relaxation in additional fee to the defaulting LLPs by allowing filing of… Continue reading Central Government rolls out LLP settlement scheme

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