News:United Nations Conference on Trade and Development’s (UNCTAD) has released its Handbook of Statistics report. Facts: About the report: The report provides a wide range of statistics and indicators relevant to the analysis of international trade, investment, maritime transport and development. Key takeaways from the report: The report has predicted that the World gross domestic… Continue reading World economy is slowing down, UNCTAD’s new statistics say
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.
National Policy on Statistics set to be unveiled soon
News:Government of India will shortly unveil a National Policy on Official Statistics. Facts: Background: The policy is being prepared as government is looking to address data quality issues with regard to various surveys. Further,the credibility of India’s official data has also come under strain following leak of the draft Household Consumer Expenditure report, which showed… Continue reading National Policy on Statistics set to be unveiled soon
Explained: Bill to set up a unified Authority to regulate financial products
News:The International Financial Services Centres Authority Bill,2019 is likely to be tabled in the Parliament. Facts: About IFSC: International Financial Services Centres(IFSC) is a jurisdiction that provides financial services to resident and non-resident Indians in foreign currencies. They are intended to provide Indian corporates with easier access to global financial markets, and to complement and… Continue reading Explained: Bill to set up a unified Authority to regulate financial products
After Mallya, Nirav Modi: Who is a ‘fugitive economic offender’?
News:Recently,the special Prevention of Money Laundering Act (PMLA) court has declared Nirav Modi as a fugitive economic offender (FEO) under Fugitive Economic Offenders Act,2018. Facts: About Fugitive Economic Offenders Act,2018: Indian Parliament had passed the Fugitive Economic Offenders Act in 2018. The act seeks to confiscate properties and assets of economic offenders that evade prosecution… Continue reading After Mallya, Nirav Modi: Who is a ‘fugitive economic offender’?
Draft National Logistic Policy
News:Minister of Commerce and Industry has informed Lok Sabha about the Draft National Logistics policy. Facts: About Draft National Logistics policy: The Draft National Logistics policy has been prepared by the Ministry of Commerce and Industry in consultation with the Ministries of Railways, Road Transport and Highways,Shipping and Civil Aviation. The aim of the policy… Continue reading Draft National Logistic Policy
Audit for FDI norms must for e-com firms
News:The government has issued new rules that makes it compulsory for e-commerce companies with foreign investments to submit an audit report every year. Facts: About the new rules: The rules will be applicable on E-commerce companies with foreign investments such as Amazon, Flipkart among others. These companies have to submit a report prepared by statutory… Continue reading Audit for FDI norms must for e-com firms
India has one of the highest unemployment rates in women
News: According to the OECD Economic Survey of India report, India is one of the worst countries for working women. Facts: According to the report, India has the largest difference between the employment rates of women and men among OECD nations at 52%. India is followed by Turkey. The employment gap between women and men… Continue reading India has one of the highest unemployment rates in women
India set to make modest recovery on reforms: OECD
News:The Organisation for Economic Co-operation and Development(OECD) has released its Economic Survey of India report. Facts: Report on GDP growth: The report has projected GDP growth in the current fiscal (2019-20) at 5.8% lower than 6.8 per cent in 2018-19. However, it estimated the GDP to grow at 6.2% during 2020-21 and further to 6.4%… Continue reading India set to make modest recovery on reforms: OECD
Explained: Why the RBI refused to cut interest rates
News:The Monetary Policy Committee(MPC) of the Reserve Bank of India has decided to keep the repo rate unchanged at 5.15% in its fifth bi-monthly monetary policy statement. Facts: Issues before RBI: The RBI’s most important mandate is to maintain price stability which means RBI is required by law to maintain retail inflation based on Consumer… Continue reading Explained: Why the RBI refused to cut interest rates
RBI lays down guidelines for payments banks’ SFB licence
News:The Reserve Bank of India has released final Guidelines for the ‘on tap’ Licencing for Small Finance Banks(SFBs). Facts: About the Guidelines for ‘on-tap’ Licencing: The minimum paid-up voting equity capital / capital requirement shall be Rs 200 crores. For Primary (Urban) Co-operative Banks (UCBs), who voluntarily wants to transition into SFBs initial requirement of… Continue reading RBI lays down guidelines for payments banks’ SFB licence
