News:The government has increased the limit on Ways and Means Advance (WMA) by 60% to support the cash flow mismatch expected from higher spending to combat the spread of COVID-19. Facts: Ways and Means Advances(WMA) Scheme was introduced in 1997. Purpose: These are temporary loan facilities provided by the Reserve Bank of India(RBI) to the… Continue reading Ways and Means Advances
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.
Recession
News:The International Monetary Fund(IMF) has said that the world has entered into a global recession due to the coronavirus crisis. Facts: A recession is a period when economic activities are in a general decline typically accompanied by unemployment, falling income and consumer spending. To overcome recession, countries generally react by loosening their monetary policies by… Continue reading Recession
RBI’s monetary Policy statement
News:Reserve Bank of India’s Monetary Policy Committee(MPC) has come out with its own measures to help deal with economic fall out of COVID-19 pandemic. Facts: RBI’s Measures Repo Rate:It is the rate at which the RBI lends money to the banks for a short term.It has been cut by 75 basis points (bps) from 5.15%… Continue reading RBI’s monetary Policy statement
Keqiang Index
News:Li Keqiang, the current Premier of the People’s Republic of China, has said that the Keqiang index is a better economic indicator for China than official numbers of GDP. Facts: The Li Keqiang index or Keqiang index is an economic measurement index created by The Economist to measure China’s economy. It is based on three… Continue reading Keqiang Index
Invest India Business Immunity Platform
News:Invest India has launched an Invest India Business Immunity Platform. Facts: Aim:To provide a comprehensive resource to help businesses and investors get real-time updates on India’s active response to COVID-19 (Coronavirus). Additional information: About Invest India: It is the National Investment Promotion and Facilitation Agency of India and acts as the first point of reference… Continue reading Invest India Business Immunity Platform
Extradition Treaty between India and Belgium
News:Recently, the Union Cabinet has approved the signing and ratifying of the Extradition Treaty between India and Belgium. Facts: Obligation to Extradite: Each Party agrees to extradite a person accused/convicted of an extraditable offence in the territory of the other Party. Extraditable Offences: an offence punishable under the laws of both the Parties with imprisonment… Continue reading Extradition Treaty between India and Belgium
Finance Bill, 2020 passed in Lok Sabha
News: Finance bill 2020 passed in Lok Sabha Facts: Key highlights Non-resident Indians will be taxed on India-controlled income above Rs 15 lakh. DDT exemption will be given to REITs and InvITs if not under the new corporate tax regime. Tax exemption to Sovereign Wealth Fund extended to Pension Funds for infra investment. TDS rate… Continue reading Finance Bill, 2020 passed in Lok Sabha
Country-by-Country Reports
News:Recently,the Central Board of Direct Taxes(CBDT) has notified rules for furnishing Country-by-Country Report(CbC) specifying information pertaining to all large multinational enterprises(MNEs). Facts: About Country-by-Country Report: The BEPS Action 13 report provides the multinational enterprises(MNEs) to report annually and for each tax jurisdiction in which they do business the information set out therein.This report is called… Continue reading Country-by-Country Reports
Small Farmers Agribusiness Consortium(SFAC)
News:Recently,the Small Farmers Agribusiness Consortium(SFAC) has signed an MoU with the Agricultural and Processed Food Products Export Development Authority(APEDA) to bring in better synergy in the agricultural activities. Facts: About SFAC: Small Farmers Agribusiness Consortium(SFAC) is an Autonomous Society promoted by the Ministry of Agriculture,Government of India.It was registered under Societies Registration Act,1860 in 1994.… Continue reading Small Farmers Agribusiness Consortium(SFAC)
RBI announces Rs 10,000 crore Open Market Operations(OMO)
News:The Reserve Bank of India(RBI) has announced Rs 10,000 crore open market operations in a bid to increase liquidity and enhance confidence in the market amid the coronavirus crisis. Facts: About Open Market Operations(OMO): Open market operations is the sale and purchase of government securities and treasury bills by RBI or the central bank of… Continue reading RBI announces Rs 10,000 crore Open Market Operations(OMO)
