News: Union Minister for Road Transport & Highways will be launching an innovative new called “Khadi Prakritik Paint”. Facts: Khadi Prakritik Paint: It has been conceptualized by the Khadi and Village Industries Commission (KVIC) and later developed by Kumarappa National Handmade Paper Institute, Jaipur (a KVIC unit). Key Characteristics: It is a first-of-its-kind eco-friendly, non-toxic paint with… Continue reading Union Minister to launch “Khadi Prakritik Paint” developed by KVIC
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.
1,600 new tech start-ups and 12 unicorns in 2020: Nasscom’s Indian Tech Start-up Ecosystem report
News: National Association of Software and Services Companies (Nasscom) has released the annual start-up report ‘Indian Tech Start-up Ecosystem – On the March to Trillion Dollar Digital Economy’. Facts: Key Takeaways from the Report: Source: NASSCOM Report India has added 1,600 new tech start-ups and a record 12 unicorns in 2020 (the highest ever added in… Continue reading 1,600 new tech start-ups and 12 unicorns in 2020: Nasscom’s Indian Tech Start-up Ecosystem report
World Bank’s Global Economic Prospects Report predicts contraction of Indian economy
News: The World Bank has released the Global Economic Prospects report. Facts: Global Economic Prospects Report: It is a World Bank Group flagship report that examines global economic developments and prospects, with a special focus on emerging markets and developing economies. It is issued twice a year, in January and June. Key Takeaways from the… Continue reading World Bank’s Global Economic Prospects Report predicts contraction of Indian economy
RBI unveils guidelines for Payment Infrastructure Development Fund
News: Reserve Bank of India(RBI) has announced operational guidelines for the Payments Infrastructure Development Fund (PIDF) scheme. Facts: Objectives of the Fund: To increase the number of acceptance devices multi-fold in the country. To benefit the acquiring banks / non-banks and merchants by lowering overall acceptance infrastructure cost. To increase payments acceptance infrastructure by adding… Continue reading RBI unveils guidelines for Payment Infrastructure Development Fund
What are spectrum auctions?
News: Department of Telecommunications (DoT) said on Wednesday (January 6) that auctions for 4G spectrum in the 700, 800, 900, 1,800, 2,100, 2,300, and 2,500 MHz bands will begin from March 1. Licence holders have until February 5 to submit their applications. Facts: What are Spectrum Auctions? Devices such as cellphones and wireline telephones require… Continue reading What are spectrum auctions?
Government approves new scheme for Industrial Development of Jammu & Kashmir
News: Cabinet Committee on Economic Affairs has approved the Central Sector Scheme for Industrial Development of Jammu & Kashmir. Facts: Aim: To develop development of Manufacturing as well as Service Sector Units in J&K which will generate employment and leads to the socio economic development of the area. Incentives: The following incentives would be available… Continue reading Government approves new scheme for Industrial Development of Jammu & Kashmir
PM inaugurates Rewari – Madar section on Western corridor
News: The Prime Minister of India has inaugurated the Rewari – Madar section on Western Corridor. Facts: Rewari – Madar section: It is a part of Western Dedicated Freight Corridor(WDFC).It falls in Haryana (for approximately 79 Km in Mahendragarh & Rewari districts) and Rajasthan (approximately 227 Km in Jaipur, Ajmer, Sikar, Nagaur and Alwar districts)… Continue reading PM inaugurates Rewari – Madar section on Western corridor
Economic Impact of Internet shutdown in Indian and world economy
News: According to a report by the UK-based privacy and security research firm Top10VPN, India has suffered the longest internet shutdowns in 2020 globally. Facts: Key Takeaways from the report: Globally, internet shutdowns cost the world economy $4 billion. However, this represents a 50% decrease in impact compared to $8.05 billion in 2019. India has… Continue reading Economic Impact of Internet shutdown in Indian and world economy
GDP likely to contract by 7.7% in 2020-21, says Govt.
News: National Statistical Office(NSO), Ministry of Statistics and Programme Implementation(MoSPI) has released the First Advance Estimates (FAE) for 2020-21. Facts: What are the First Advance Estimates(FAE)? For any financial year, the MoSPI provides regular estimates of GDP. The first such instance is through the FAE. The FAE for any particular financial year is typically presented… Continue reading GDP likely to contract by 7.7% in 2020-21, says Govt.
SEBI moots entry norms to set up stock exchanges
News: Securities and Exchange Board of India (SEBI) has proposed a new framework for ownership of Market Infrastructure Institutions(MII) to facilitate new entrants to set up stock exchanges and depositories. Facts: What is Market Infrastructure? It is a system administered by a public organisation or other public instrumentality, or a private and regulated association or entity, that… Continue reading SEBI moots entry norms to set up stock exchanges
