News:According to the data presented by the Ministry of Micro, Small and Medium Enterprises,states with smaller population take the lead under Prime Minister’s Employment Generation Programme(PMEGP) in the last four years. Facts: The states with smaller populations such as Tamil Nadu, Assam, Karnataka and Arunachal Pradesh except Uttar Pradesh have emerged as major beneficiaries of… Continue reading States with smaller population take the lead under PMEGP
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.
GST Council Meeting: No rate hike, vote for single lottery rate
News:Finance Minister has chaired the 38th GST Council Meeting in New Delhi. Facts: Key takeaways from the meeting: The GST Council has for the first time used the voting process and has voted to tax lotteries under the highest slab of 28%. The Council has decided to tax woven and non-woven bags at 18%, compared… Continue reading GST Council Meeting: No rate hike, vote for single lottery rate
E-commerce can spur intra-South Asia trade: World Bank
News:The World Bank has released a report titled “Unleashing E-Commerce for South Asian Integration”. Facts: Key takeaways from the report: The report has said that e-commerce can become a driver of growth across South Asia and boost trade among the region’s countries but its potential remains largely untapped. The online sales in India as a… Continue reading E-commerce can spur intra-South Asia trade: World Bank
India’s rising retail prices stoke worries of stagflation
News:India’s retail price inflation has jumped to a 40-month high at a time when India’s growth has slowed down to a six-year low.This has prompted some economists to warn that the country could be entering into a stagflationary phase. Facts: About Stagflation: The term Stagflation was first coined by Paul Samuelson who was the first… Continue reading India’s rising retail prices stoke worries of stagflation
BRICS’ NDB pledges $100 million to NIIF
News:Recently,New Development Bank(NDB) has committed $100 million to India’s National Investment and Infrastructure Fund(NIIF). Facts: About NDB: The New Development Bank(NDB) formerly referred to as the BRICS Development Bank is a multilateral development bank established by the BRICS states (Brazil, Russia, India, China and South Africa). The bank was founded in 2014 but was was… Continue reading BRICS’ NDB pledges $100 million to NIIF
National Financial Reporting Authority submits first report since constituted
News:The National Financial Reporting Authority(NFRA) has issued its first audit report of IL&FS Financial Services Limited for the year 2017-18. Facts: About NFRA: The National Financial Reporting Authority(NFRA) has been constituted in 2018 by the Government of India under section 132 of the Companies Act,2013. The need for establishing NFRA was felt in the wake… Continue reading National Financial Reporting Authority submits first report since constituted
India ranks 73rd in global E-Commerce ranking
News:United Nations Conference on Trade and Development’s(UNCTAD) has released the Business-to-Consumer(B2C) E-commerce Index 2019. Facts: About the Index: The index compares 152 countries on four major indicators that are highly related to E-Commerce which includes population age, individuals using the internet, postal reliability index and secure internet servers. Key takeaways from the index: Netherlands has… Continue reading India ranks 73rd in global E-Commerce ranking
Cabinet approves Partial Credit Guarantee Scheme
News:Union Cabinet has approved Partial Credit Guarantee Scheme for purchase of high-rated pooled assets from financially sound NBFCs/HFCs by Public Sector Banks(PSBs). Facts: About the Partial Credit Guarantee Scheme: The scheme provides for a one-time partial credit guarantee to Public sector banks(PSBs) for purchase of pooled assets of financially sound NBFCs and HFCs, The scheme… Continue reading Cabinet approves Partial Credit Guarantee Scheme
Cabinet approves Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019
News:The Union Cabinet has approved the amendments in the Insolvency and Bankruptcy Code, 2016 through the Insolvency and Bankruptcy Code (Second Amendment) Bill,2019. Facts: About Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019. The amendments aim to remove certain difficulties being faced during insolvency resolution process to realise the objects of the code and to… Continue reading Cabinet approves Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019
Cabinet authorises NHAI to set up Infrastructure Investment Trust
News:The Union Cabinet has given its approval to National Highways Authority of India (NHAI) to set up infrastructure investment trusts (InvITs). Facts: About InvITs: InvITs are investment scheme similar to mutual funds.They allow investment from individuals and institutional investors in infrastructure projects to earn a portion of the income as return. This investment is more… Continue reading Cabinet authorises NHAI to set up Infrastructure Investment Trust
