News:The Ministry of Commerce and Industry has allocated separate HS code for Khadi to boost exports of this signature fabric of India. Facts: About HS Code: HS stands for Harmonized System and was developed by the World Customs Organization (WCO). The code is used by customs officers to clear commodities entering or crossing international borders.… Continue reading Khadi gets separate HS code
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.
Asset Liability management(ALM) Framework for NBFC’s
News:The Reserve Bank of India(RBI) has introduced ‘liquidity management framework’ for Non-Banking Financial Companies (NBFCs). Facts: Why this framework? This framework is introduced due to liquidity crunch faced by some NBFCs after the collapse of the Infrastructure Leasing and Financial Services(IL&FS) group. About the framework: The framework has introduced the liquidity coverage ratio(LCR) for Non-Banking… Continue reading Asset Liability management(ALM) Framework for NBFC’s
RBI’s panel suggests measures to strengthen core investment companies
News:The Reserve Bank of India(RBI) panel to review the regulatory and Supervisory Framework for Core Investment Companies headed by Tapan Ray has submitted its report. Facts: About CIC’s: Core Investment Companies (CICs) are Non-Banking Financial Companies(NBFCs) having asset size of Rs 100 crore and above. The main business of CIC is of acquisition of shares… Continue reading RBI’s panel suggests measures to strengthen core investment companies
Government approves Rs 25,000 crore alternate fund for stalled housing projects
News:Government has approved a Rs 25,000-crore special window to provide funding to stalled housing projects. Facts: Why this fund? The government expects this fund to revive the real estate sector, generate employment and provide a boost to the economy through demand for materials like cement. About the fund: The fund will be set up as… Continue reading Government approves Rs 25,000 crore alternate fund for stalled housing projects
Explained:What is trade deficit and what does it signify
News:India has decided not to join the Regional Comprehensive Economic Partnership(RCEP) Agreement as India’s core issues remained unresolved during the negotiations.One of the reason for not joining is the massive trade deficits India has with almost all of the RCEP countries. Facts: About Trade deficit: The trade balance of a country shows the difference between… Continue reading Explained:What is trade deficit and what does it signify
‘Indian Tech Startup Ecosystem – Leading Tech in the 20s’
News:According to the report ‘Indian Tech Startup Ecosystem – Leading Tech in the 20s’ by Nasscom,India continues to be the third largest startup ecosystem across the world. Facts: Key takeaways from the report: India continues to be the third largest startup ecosystem in the world, having added more than 1,300 tech startups in 2019. India… Continue reading ‘Indian Tech Startup Ecosystem – Leading Tech in the 20s’
Ministry of Skill Development & Entrepreneurship launches Skills Build platform in Collaboration with IBM
News:The Directorate General of Training (DGT) under the Ministry of Skill Development & Entrepreneurship(MSDE) has announced the launch of Skills Build platform in collaboration with IBM. Facts: About the platform: The skill builds platform aims to offer diplomas in IT, networking and cloud computing at Industrial Training Institutes(ITI) and National Skill Training Institutes(NSTI). The platform… Continue reading Ministry of Skill Development & Entrepreneurship launches Skills Build platform in Collaboration with IBM
Finance Minister launches IT initiatives ICEDASH and ATITHI
News:Finance minister has unveiled two new IT initiatives ICEDASH and ATITHI. Facts: Why were these initiatives launched? These initiatives aims at improving monitoring and pace of customs clearance of imported goods. They will also facilitate arriving international passengers with e-filing of baggage and currency declarations. About ICEDASH: ICEDASH is an ease of doing business(EoDB) monitoring… Continue reading Finance Minister launches IT initiatives ICEDASH and ATITHI
Economic Outlook for South East Asia,China and India
News:The Organization for Economic Co-operation and Development(OECD) has released its report titled Economic Outlook for South East Asia,China and India. Facts: Key takeaways from the report: India’s gross domestic product(GDP) is projected to grow at 6.6% in 2020-24 lower than its 2013-17 average of 7.4%. The report said that India’s reliance on consumption will continue… Continue reading Economic Outlook for South East Asia,China and India
Explained: Why is India’s labour productivity growth faltering?
News:Recently,an analysis done by India Ratings and Annual Survey of Industries on India’s labour productivity growth in the organised manufacturing sector has shown a declining trend between 2016 and 2018. Facts: About Labour Productivity: Productivity is a measure of the efficiency with which resources of both human and material are converted into goods and services.… Continue reading Explained: Why is India’s labour productivity growth faltering?
