News:The UK-based Centre for Economics and Business Research (CEBR) has released a report titled ‘World Economic League Table 2020’. Facts: About the report: The World Economic League Table is an annual calculation by Centre for Economics and Business Research (CEBR) jointly published by CEBR and Global Construction Perspectives. The base data for 2019 is taken… Continue reading India may surpass Germany to become the fourth-largest economy in 2026:Report
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.
Financial system stable despite slowdown:RBI report
News:The Reserve Bank of India has released its biannual Financial Stability Report,2019. Facts: About Financial Stability Report: The Financial Stability Report are bi-annual reports published by the Reserve Bank of India(RBI). The report is the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability. It reviews… Continue reading Financial system stable despite slowdown:RBI report
Scheme for Enhancement of Competitiveness in Capital Goods Sector to be Scaled up
News:Ministry of Heavy Industries and Public Enterprises is implementing the scheme for Enhancement of Competitiveness in the Indian Capital Goods Sector. Facts: About the scheme: Department of Heavy Industry in the Ministry of Heavy Industries and Public Enterprises had launched the scheme for Enhancement of Competitiveness in the Indian Capital Goods Sector in 2014. The… Continue reading Scheme for Enhancement of Competitiveness in Capital Goods Sector to be Scaled up
GST Council to set up grievance redressal mechanism for taxpayers
News:The GST Council has decided to set up a grievance redressal mechanism for taxpayers. Facts: About Grievance Redressal Committee(GRC): The Grievance Redressal Committee(GRC) at zonal and state levels will be set up as a redressal mechanism for taxpayers. It will consist of both central tax and state tax officers, representatives of trade and industry and… Continue reading GST Council to set up grievance redressal mechanism for taxpayers
Govt forms expert panel for time-bound resolution of disputes in oil & gas sector
News:Government has constituted a Committee of External Eminent Persons/Experts for time-bound resolution of disputes in Oil and gas sector. Facts: About the committee: The committee will consist of three members.It will help the oil and gas sector get rid of disputes without having to resort to tardy judicial process. The committee will have a tenure… Continue reading Govt forms expert panel for time-bound resolution of disputes in oil & gas sector
India in the midst of significant slowdown:IMF
News:The International Monetary Fund (IMF) has released its consultations report on India. Facts: Key takeaways from the report: The report has said that India’s rapid economic expansion in recent years has lifted millions of people out of poverty. However in 2019, a combination of factors led to subdued economic growth in India. India is now… Continue reading India in the midst of significant slowdown:IMF
Economic revival key to banks’ health
News:The Reserve Bank of India has released a report titled Trend and Progress of Banking in India 2018-19. Facts: Key Highlights from the report: What are the positives in the Banking sector? The Indian banking sector’s financial parameters such as bad loans and capital adequacy have shown an improvement in recent times. In 2018-19, the… Continue reading Economic revival key to banks’ health
RBI launches Prepaid Payment Instrument for your daily digital payments
News:The Reserve Bank has introduced a new type of prepaid payment instrument (PPI) for daily digital payments. Facts: Features of PPI introduced by RBI: The prepaid payment instrument(PPI) could be used only for purchase of goods and services up to a limit of ₹10,000 per month. PPIs shall be issued by bank and non-bank PPI… Continue reading RBI launches Prepaid Payment Instrument for your daily digital payments
Annual report of the insurance sector
News:The annual report of the Insurance Regulatory and Development Authority of India (IRDAI) for 2018-19 has been released. Facts: Key terminologies: Insurance density is measured as the ratio of premium (in US dollars) to the total population. Insurance penetration is measured as the ratio of premium (in US$) to GDP(in US$). Insurance density and insurance… Continue reading Annual report of the insurance sector
RBI plans its own ‘Operation Twist’; to buy, sell bonds simultaneously
News:The Reserve Bank of India has announced that it will carry out US-style ‘Operation Twist’ to bring down interest rates. Facts: About Operation Twist: Operation Twist is when the central bank uses the proceeds from the sale of short-term securities to buy long-term government debt papers, leading to easing of interest rates on the long… Continue reading RBI plans its own ‘Operation Twist’; to buy, sell bonds simultaneously
