News:The Department for Promotion of Industry and Internal Trade(DPIIT) has released the initial draft industrial policy. Facts: Background: This will be the third industrial policy after the first in 1956 and the second in 1991. The new industrial policy will replace the industrial policy of 1991 which was prepared in the backdrop of the balance… Continue reading Initial draft industrial policy targets $1 trillion gross value addition in manufacturing by 2025
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.
India fares better than China in global bribery risk matrix
News:The Trace Bribery Matrix,2019 has been released by TRACE, a US based organisation. Facts: About the Trace Bribery Matrix: TRACE is a US based organisation which provides ranking to various countries in terms of the risk of bribery companies face in doing business in those countries. The Matrix evaluates 200 countries countries under four parameters… Continue reading India fares better than China in global bribery risk matrix
NCDEX ties up with NSE Indices to launch AGRIDEX
News:The National Commodity and Derivatives Exchange(NCDEX) has tied up with National Stock Exchange(NSE) to launch India’s first agri index ‘NCDEX Agridex’. Facts: About Agridex: The index represents a basket of ten commodities that are selected based on both liquidity and its importance in Indian and global commodities market. The index will be made tradable after… Continue reading NCDEX ties up with NSE Indices to launch AGRIDEX
GI Tag For Darjeeling Green, White Tea
News:Geographical Indication Registry of India has accorded Geographical Indication(GI) tag to Green Tea and White Tea of Darjeeling. Facts: About Green Tea and White Tea: Green Tea and White Tea are made from the same tea leaves of Camellia sinensis. Green tea leaves are processed less than black but more than white tea. The lack… Continue reading GI Tag For Darjeeling Green, White Tea
Govt notifies rules under insolvency law for resolution of financial service providers
News:The Ministry of Corporate Affairs (MCA) has notified the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules,2019. Facts: About the rules: The rules allow the insolvency and liquidation process to be undertaken against systemically important financial service providers(FSP) so long as such proceedings are triggered by… Continue reading Govt notifies rules under insolvency law for resolution of financial service providers
Moody’s Cuts India’s GDP Growth Forecast To 5.6% For 2019-20
News:Moody’s Investors Service has reduced India’s economic growth forecast to 5.6% for 2019 from 5.8% projected earlier. Facts: The growth forecast has been reduced due to investment-led slowdown that has broadened into consumption,driven by financial stress among rural households and weak job creation. To overcome the growth slowdown,the government has undertaken a number of measures.… Continue reading Moody’s Cuts India’s GDP Growth Forecast To 5.6% For 2019-20
BHIM UPI goes global
News:Recently,to internationalize the BHIM UPI a pilot demo was conducted in Singapore with a live transaction at a merchant terminal at the FinTech Festival 2019. Facts: The project is being jointly developed by National Payments Corporation of India (NPCI) and Singapore’s Network for Electronic Transfers (NETS). This QR code-based system would allow anyone with a… Continue reading BHIM UPI goes global
Over ₹5,000 cr dues declared so far under Sabka Vishwas Scheme
News:More than Rs 5,000 crore worth dues have been declared so far under the government’s ‘Sabka Vishwas Scheme’. Facts: About Sabka Vishwas Scheme: Government had announced the Sabka Vishwas legacy Dispute Resolution Scheme,2019 during Budget,2019. The objective of the scheme is to free the large number of small taxpayers of their pending disputes with the… Continue reading Over ₹5,000 cr dues declared so far under Sabka Vishwas Scheme
Explained: What are negative interest rates and how do they work?
News:US President has criticized the US Federal Reserve for having increased the interest rates in the US economy thus undermining the competitiveness of the US firms and has called for introducing Negative interest rates. Facts: What are negative interest rates? Negative interest means instead of the bank paying you money to keep in a savings… Continue reading Explained: What are negative interest rates and how do they work?
Government unveils draft e-commerce rules
News:Government has released the draft Consumer Protection (e-Commerce) Rules,2019. Facts: About the E-commerce rules: Unfair Trade Practices:The rules prohibit E-commerce firms from adopting unfair methods or deceptive practice that may influence transactional decisions of consumers to products and services. False reviews:It also bars such entities from falsely representing themselves as consumers or post reviews about… Continue reading Government unveils draft e-commerce rules
