News: Reserve Bank of India(RBI) has created a Payment Infrastructure Development Fund of Rs 500 crores. Facts: Aim: To encourage the deployment of Points of Sale(PoS) infrastructure both physical and digital modes in smaller cities, towns and north eastern states. Contribution: RBI will make an initial contribution of Rs 250 crore to the fund. The… Continue reading RBI creates Payment Infrastructure Development Fund
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.
Periodic Labour Force Survey(PLFS) – Annual Report
News: National Statistical Office(NSO) has released the Periodic Labour Force Survey(PLFS) for July 2018 to June 2019. Facts: Unemployment Rate(UR): It is defined as the percentage of persons unemployed among the persons in the labour force. It has reduced to 5.8% during 2018-19 from 6.1% during the same period of 2017-18.Under this, urban unemployment rate… Continue reading Periodic Labour Force Survey(PLFS) – Annual Report
Cabinet sets up Secretaries’ group to attract investment
News: Union Cabinet has approved the setting up of an empowered group of secretaries(EGoS) and project development cells(PDCs) in Ministries and departments for attracting investments to India. Facts: Empowered Group of Secretaries(EGoS): Composition: Cabinet Secretary (Chairperson) Secretary, Department for Promotion of Industry and Internal Trade (Member Convenor) CEO, NitiAayog (Member), Secretary, Department of Commerce (Member),… Continue reading Cabinet sets up Secretaries’ group to attract investment
Non-profit Organisations Can Directly List on Social Stock Exchanges: Sebi Panel
News: Sebi-constituted panel under the chairmanship of Ishaat Hussain has submitted its recommendations on social stock exchange(SSE). Facts: Key Recommendations: Direct listing of non-profit organisations(NGO) through the issuance of bonds and a range of funding mechanisms. Tax Sops: It has recommended exemptions from securities transaction tax (STT) and capital gains tax (CGT) to ensure that… Continue reading Non-profit Organisations Can Directly List on Social Stock Exchanges: Sebi Panel
Indian Energy Exchange launches its Real-Time Electricity Market (RTM) platform
News: Indian Energy Exchange has launched its Real-Time Electricity Market (RTM) platform. Facts: Real-Time Electricity Market(RTM): It is an organized market platform to enable the buyers and sellers pan-India to meet their energy requirement closer to real time of operation. Additional Facts: Indian Energy Exchange(IEX): It is the first energy exchange in India providing a… Continue reading Indian Energy Exchange launches its Real-Time Electricity Market (RTM) platform
Explained: What RBI discontinuing 7.75% saving bonds means to investors
News: Government of India has discontinued the 7.75% savings (taxable) bonds,2018 for subscription. Facts: The 7.75% Savings(Taxable) Bonds,2018 were issued with effect from January,2018. Eligibility: The bonds were available for subscription to resident citizens/Hindu Undivided Family (HUF) to invest in a taxable bond. Investment: The minimum investment in this bond starts at Rs 1,000 with… Continue reading Explained: What RBI discontinuing 7.75% saving bonds means to investors
India records highest ever FDI equity inflow in FY21
News:According to the data released by the Department for Promotion of Industry and Internal Trade (DPIIT), foreign direct investment(FDI) in India grew by 13% to a record of USD 49.97 billion in the 2019-20 financial year. Facts: FDI: It includes automatic route, acquisition route and government route. It has risen 13% to $49.97 billion in… Continue reading India records highest ever FDI equity inflow in FY21
22nd Meeting of the Financial Stability and Development Council (FSDC)
News:Union Minister for Finance has chaired the 22nd Meeting of the Financial Stability and Development Council(FSDC). Facts: Financial Stability and Development Council(FSDC): It is a non-statutory apex level body setup in 2010 on the recommendations of Raghuram Rajan committee(2008). Objectives: To strengthen and institutionalize the mechanism for maintaining financial stability, enhancing inter-regulatory coordination and promoting… Continue reading 22nd Meeting of the Financial Stability and Development Council (FSDC)
RBI announces nine additional measures for strengthening the Economy
News:Reserve Bank of India(RBI) has announced several measures for strengthening the Economy in the uncertain times ushered in by the COVID-19 pandemic. Facts: Key measures: Repo Rate: It is the rate at which the RBI lends money to the banks for a short term.It has been reduced by 40 basis points from 4.4% to 4.0%.… Continue reading RBI announces nine additional measures for strengthening the Economy
9th Edition of the Status Paper on Government Debt
News:The Central Government has released the Ninth Edition of the Status Paper on the Government Debt which provides a detailed analysis of the Overall Debt Position of the Government of India. Facts: The Central Government has been bringing-out a Status Paper on Government Debt since 2010-11. Key Takeaways: Central Government’s Debt as a percentage of… Continue reading 9th Edition of the Status Paper on Government Debt
