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.

Doing Business Report

News:The World Bank has released its doing business report 2020. Facts: About Doing Business Report: Doing Business report measures regulations across the 190 economies in 12 business regulatory areas to assess the business environment in each economy. The ten of these indicators were used to estimate an ease of doing business score this year. The… Continue reading Doing Business Report

Fitch cuts India’s FY20 GDP growth forecast to 5.5 per cent

News:Fitch Ratings has reduced the growth forecast of India’s gross domestic product(GDP) forecast to 5.5% in 2019-20 from 6.6%. Facts: Fitch has said that the decrease in credit availability due to crisis in non-bank financial companies (NBFC) sector has pushed Indian economic growth to a six year low. It has also said that the slowdown… Continue reading Fitch cuts India’s FY20 GDP growth forecast to 5.5 per cent

MeitY Start-up Summit

News:Ministry of Electronics & Information (MeitY) has unveiled a series of new initiatives during the first MeitY Start-up Summit held in New Delhi. Facts: About the initiatives: The initiatives include the MeitY Startup Hub (MSH), the Indian Software Product Registry and select Incubation Centres under the TIDE 2.0. MeitY Startup Hub: It will act as… Continue reading MeitY Start-up Summit

Merger of BSNL and MTNL

News:Union Cabinet has approved the revival plan of Bharat Sanchar Nigam limited(BSNL) and Mahanagar Telephone Nigam limited(MTNL) and in-principle merger of the two. Facts: Why this revival plan: BSNL and MTNL are government owned telecommunications company.  MTNL provides telephony services in Delhi and Mumbai, while BSNL is present in the rest of the circles in… Continue reading Merger of BSNL and MTNL

Govt launches BHIM 2.0 with new functionalities, additional language support

News:Union Minister of Electronics and Information Technology (MeiTY) has launched BHIM 2.0 with additional features. Facts: About BHIM: Bharat Interface for Money(BHIM) is Unified Payments Interface(UPI) based payment interface application that allows real time fund transfer The app has been launched in 2016.It was developed by the National Payments Corporation of India (NPCI). The BHIM… Continue reading Govt launches BHIM 2.0 with new functionalities, additional language support

RBI Deputy Governor post vacant for 3 months

News:The Reserve Bank of India (RBI) Deputy Governor post who is in-charge of Monetary Policy has been vacant since 3 months. Facts: About Reserve Bank of India(RBI): The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act,1934. The Reserve Bank’s affairs are… Continue reading RBI Deputy Governor post vacant for 3 months

Government appoints 3 new members to PMEAC

News:Government of India has reconstituted the Economic Advisory to the Prime Minister.It has added three more part-time members to the advisory bodies council. Facts: About EAC-PM: Economic Advisory Council to the Prime Minister(EAC-PM)  is a non-constitutional, non-permanent and independent body constituted to give economic advice to the Government of India, specifically the Prime Minister. Terms… Continue reading Government appoints 3 new members to PMEAC

Monetary policy committee sees further slowdown in growth

News:The Reserve Bank of India(RBI) has released the minutes of the monetary policy committee (MPC) meeting. Facts: In its fourth Bi-monthly policy review,the Reserve Bank of India’s(RBI) Monetary Policy Committee(MPC) has reduced the interest rates by 25 basis points to 5.15 % from 5.40 %. Key takeaways from the MPC meeting: All the six members… Continue reading Monetary policy committee sees further slowdown in growth

India Innovation Index

News:NITI Aayog with Institute for Competitiveness as the knowledge partner has released the India Innovation Index 2019. Facts: About India innovation index: The index examines the innovation ecosystem of Indian states and union territories.  The index has been developed on the lines of the Global Innovation Index(GII).It is expected to help the innovation ecosystem of… Continue reading India Innovation Index

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