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.

Government kicking off Seaplane Services on selected Routes

News: Union Ministry of Ports, Shipping, and Waterways has announced that it has kickstarted the process of commencing operations of the Seaplane services on select routes. Facts: What is Seaplane? Seaplanes are typically fixed-wing aircraft with a much fewer number of seats and can take off from and land on water. How will it work? Sea… Continue reading Government kicking off Seaplane Services on selected Routes

Prime Minister to preside over Virtual Global Investor Roundtable

News: The Prime Minister will chair the Virtual Global Investor Roundtable (VGIR). Facts: Organized by: Ministry of Finance and National Investment and Infrastructure Fund(NIIF) What is it? It is an exclusive dialogue between leading global institutional investors, Indian business leaders and the highest decision makers from the Government of India and Financial Market Regulators.  … Continue reading Prime Minister to preside over Virtual Global Investor Roundtable

UKIBC releases Doing Business in India Report 2020

News: UK India Business Council(UKIBC) has released the sixth edition of Doing Business in India Report 2020.   Facts: About the report: The report is based on an in-depth survey of 106 UK organisations operating in India spanning manufacturing, services, and higher education sectors.   Key Takeaways: Nearly two-thirds of the UK businesses believe it… Continue reading UKIBC releases Doing Business in India Report 2020

Compound conundrum: On interest waiver

News: Government of India has announced a scheme called, ‘Scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts’. Facts: Aim: To provide major relief for individuals and MSME borrowers by waiver of the compound interest on specified loans for six months… Continue reading Compound conundrum: On interest waiver

The Future of Jobs Report, 2020

News: World Economic Forum (WEF) has released the Future of Jobs Report, 2020. Facts: About the report: The report maps the jobs and skills of the future by tracking the pace of change. Key Highlights from the report: Reskilling: 50% of all employees will need reskilling by 2025 as adoption of technology increases. Effect of Automation on Jobs: Faster than… Continue reading The Future of Jobs Report, 2020

Environmental clearance to Kaleshwaram given in violation of law: NGT

News: The National Green Tribunal (NGT) has held that environmental clearance (EC) to Kaleshwaram Lift Irrigation Project (KLIP) was granted ex post facto, after completion of substantial work, by the Ministry of Environment, Forests and Climate Change (MoEF&CC) “in violation of law”. Facts: Location: Kaleshwaram Multipurpose Lift Irrigation Project is located in Telangana. It was… Continue reading Environmental clearance to Kaleshwaram given in violation of law: NGT

IFSCA introduces framework for ‘Regulatory Sandbox’

News: International Financial Services Centres Authority(IFSCA) has introduced a Framework for Regulatory Sandbox to tap into innovative FinTech solutions.   Facts: What is a Regulatory Sandbox? It is an infrastructure that helps financial technology (FinTech) players live test their products or solutions before getting the necessary regulatory approvals for a mass launch. IFSCA Regulatory Sandbox:… Continue reading IFSCA introduces framework for ‘Regulatory Sandbox’

India’s economy to contract by 10.3%, says International Monetary Fund

News: International Monetary Fund(IMF) has released the World Economic Outlook Report,2020 titled “A Long and Difficult Ascent”. Facts: The report is published twice a year. Aim: To provide analysis and forecasts of economic developments of member countries and highlights risks and uncertainty. Key Takeaways: Global growth is projected to be -4.4% ( i.e., a contraction… Continue reading India’s economy to contract by 10.3%, says International Monetary Fund

Expained: The economics of Auction Theory

News: Royal Swedish Academy of Sciences has awarded the 2020 Nobel Prize for Economics — to Paul R Milgrom and Robert B Wilson for their work on auction theory and new auction formats. Facts: Auction Theory: It is an applied branch of economics which deals with how people act in auction markets and researches the… Continue reading Expained: The economics of Auction Theory

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