News:Geographical Indication Registry of India has accorded Geographical Indication(GI) tag to Green Tea and White Tea of Darjeeling. Facts: About Green Tea and White Tea: Green Tea and White Tea are made from the same tea leaves of Camellia sinensis. Green tea leaves are processed less than black but more than white tea. The lack… Continue reading GI Tag For Darjeeling Green, White Tea
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.
Govt notifies rules under insolvency law for resolution of financial service providers
News:The Ministry of Corporate Affairs (MCA) has notified the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules,2019. Facts: About the rules: The rules allow the insolvency and liquidation process to be undertaken against systemically important financial service providers(FSP) so long as such proceedings are triggered by… Continue reading Govt notifies rules under insolvency law for resolution of financial service providers
Moody’s Cuts India’s GDP Growth Forecast To 5.6% For 2019-20
News:Moody’s Investors Service has reduced India’s economic growth forecast to 5.6% for 2019 from 5.8% projected earlier. Facts: The growth forecast has been reduced due to investment-led slowdown that has broadened into consumption,driven by financial stress among rural households and weak job creation. To overcome the growth slowdown,the government has undertaken a number of measures.… Continue reading Moody’s Cuts India’s GDP Growth Forecast To 5.6% For 2019-20
BHIM UPI goes global
News:Recently,to internationalize the BHIM UPI a pilot demo was conducted in Singapore with a live transaction at a merchant terminal at the FinTech Festival 2019. Facts: The project is being jointly developed by National Payments Corporation of India (NPCI) and Singapore’s Network for Electronic Transfers (NETS). This QR code-based system would allow anyone with a… Continue reading BHIM UPI goes global
Over ₹5,000 cr dues declared so far under Sabka Vishwas Scheme
News:More than Rs 5,000 crore worth dues have been declared so far under the government’s ‘Sabka Vishwas Scheme’. Facts: About Sabka Vishwas Scheme: Government had announced the Sabka Vishwas legacy Dispute Resolution Scheme,2019 during Budget,2019. The objective of the scheme is to free the large number of small taxpayers of their pending disputes with the… Continue reading Over ₹5,000 cr dues declared so far under Sabka Vishwas Scheme
Explained: What are negative interest rates and how do they work?
News:US President has criticized the US Federal Reserve for having increased the interest rates in the US economy thus undermining the competitiveness of the US firms and has called for introducing Negative interest rates. Facts: What are negative interest rates? Negative interest means instead of the bank paying you money to keep in a savings… Continue reading Explained: What are negative interest rates and how do they work?
Government unveils draft e-commerce rules
News:Government has released the draft Consumer Protection (e-Commerce) Rules,2019. Facts: About the E-commerce rules: Unfair Trade Practices:The rules prohibit E-commerce firms from adopting unfair methods or deceptive practice that may influence transactional decisions of consumers to products and services. False reviews:It also bars such entities from falsely representing themselves as consumers or post reviews about… Continue reading Government unveils draft e-commerce rules
Explained: Why SBI expects India’s Q2 GDP to grow by just 4.2%
News:According to State Bank of India Ecowrap report,India’s GDP growth will slow down further in the second quarter(July to August),2019 to 4.2%. Facts: Highlights of the report: The report has forecasted GDP growth rate at 5 percent for FY 2019-20 from the earlier projection of 6.1 percent. The slowdown in growth will be due to… Continue reading Explained: Why SBI expects India’s Q2 GDP to grow by just 4.2%
Govt. announces Steel Scrap Recycling Policy
News: Ministry of Steel has issued the Steel Scrap Recycling Policy. Facts: Steel Scrap Recycling Policy Objectives: To promote circular economy in the steel sector. To promote a formal and scientific collection, dismantling and processing activities for end of life products that are sources of recyclable (ferrous, non- ferrous and other non-metallic) scraps. Processing and… Continue reading Govt. announces Steel Scrap Recycling Policy
Parliamentary standing committee invites suggestions on ‘The Occupational safety, health and working conditions code, 2019
News: The Occupational Safety Health and Working Conditions Code, 2019, has been referred by the Speaker to the Standing Committee on Labour headed by Bhartruhari Mahtab, for examination and report. Facts: About Occupational Safety, Health and Working Conditions Code, 2019 The code was introduced in the Lok Sabha in July 2019 The Code repeals and… Continue reading Parliamentary standing committee invites suggestions on ‘The Occupational safety, health and working conditions code, 2019
