News:Minister of Commerce & Industry has chaired a meeting for the review of infrastructure projects on the Project Monitoring Group(PMG) Portal. Facts: About PMG Portal: Project Monitoring Group (PMG) is an institutional mechanism of the Department of Promotion of Industry and Internal Trade (DPIIT),Ministry of Commerce and industry. It aims to facilitate issue resolution in… Continue reading Project Monitoring Group(PMG) Portal
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.
Meeting held to review MSME key Schemes Generating Employment
News:The Ministry of Micro, Small & Medium Enterprises(MSMEs) held a meeting to review some of the key schemes such as Prime Minister’s Employment Generation Programme(PMEGP) and Credit Guarantee Fund Trust for Micro and Small Enterprises(CGTMSE). Facts: About PMEGP: It is a credit-linked subsidy scheme launched in 2008-09 by the Ministry of MSME. Aim:To promote self-employment… Continue reading Meeting held to review MSME key Schemes Generating Employment
Finance minister launches EASE 3.0 for tech-enabled banking
News:The Finance Minister has launched Enhanced Access and Service Excellence (EASE 3.0). Facts: About EASE: EASE are a set of banking reforms which aims to incorporate technological aids for ensuring better banking experience, wider financial inclusion and easier credit distribution. About EASE 3.0: EASE 3.0 aims to provide advanced solutions that will make the public… Continue reading Finance minister launches EASE 3.0 for tech-enabled banking
Masala Bonds
News:Asian Development Bank (ADB) has listed its 10-year masala bonds worth Rs 850 crore on the global debt listing platform of India INX. Facts: About Masala Bonds: Masala Bonds are rupee-denominated borrowings issued by Indian entities in overseas markets. The objective of Masala Bonds is to fund infrastructure projects in India, fuel internal growth via… Continue reading Masala Bonds
Saudi Arabia hosts G20 financial leaders meet
News:Recently,the finance ministers from the G20 countries participated in the financial leaders meeting in Riyadh,Saudi Arabia ahead of the G20 summit in November,2020. Facts: About G20: G20 is an international group initially founded in 1999 after the Asian financial crisis as a forum for finance ministers and central bank governors of 19 countries and the… Continue reading Saudi Arabia hosts G20 financial leaders meet
US-India bilateral trade and investment
News:The US President who is on a visit to India has said that India and the United States will sign an incredible trade agreement to reduce barriers of investment. Facts: Trade between India and US: United States goods and services trade with India in 2018 was around $142.6 billion. The current balance of trade is… Continue reading US-India bilateral trade and investment
US becomes India’s top trading partner
News:According to the 2018-19 data from the Commerce Ministry, the United States has become India’s top trading partner surpassing China. Facts: In 2018-19,the bilateral trade between the US and India stands at USD 87.95 billion as compared to USD 87.07 billion with China. India has a trade surplus of USD 16.85 billion with the USA… Continue reading US becomes India’s top trading partner
GSI discovers gold deposits in Sonbhadra district of Uttar Pradesh
News:The Geological Survey of India(GSI) has discovered gold deposits of around 3,000 tonnes in Sonbhadra district of Uttar Pradesh almost five times India’s current reserve of the yellow metal. Facts: About Gold Reserves: According to the World Gold Council,India is the 10th largest gold reserve country in the world with gold reserves of around 626… Continue reading GSI discovers gold deposits in Sonbhadra district of Uttar Pradesh
World Bank offers funds for last stretch of Eastern Dedicated Freight Corridor
News: World Bank has offered to give financial assistance to the last remaining portion of the Eastern Dedicated Freight Corridor (EDFC) between Bihar’s Sonnagar and West Bengal’s Dankuni Facts: Eastern Dedicated Freight Corridor (EDFC) It is part of India’s Dedicated Freight Corridor (DFC) program involves the construction of a 1,839km-long freight line extending from Ludhiana… Continue reading World Bank offers funds for last stretch of Eastern Dedicated Freight Corridor
Explained: India’s ‘imported’ food inflation
News:The United Nations Food and Agriculture Organisation’s(FAO’s) food price index has touched 182.5 points in January 2020, the highest since December 2014. Facts: About FAO Food Price Index(FPI): The FAO Food Price Index(FPI) is a measure of the change in international prices of a basket of major food commodities with reference to a base period… Continue reading Explained: India’s ‘imported’ food inflation
