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
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.
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?
Elephant bonds can bring back $500 billion stashed overseas
News:A High Level Advisory Group on Trade Policy(HLAG) headed by Surjit Bhalla has suggested that the Centre could bring up to $500 billion of black money if it issues elephant bond. Facts: About Elephant Bonds: The elephant bonds are a way for people to bring their offshore undisclosed wealth into India without fear of prosecution.… Continue reading Elephant bonds can bring back $500 billion stashed overseas
India’s unemployment rate has hit 3-year high
News:According to the Centre for Monitoring Indian Economy (CMIE),India’s unemployment rate in the month of October,2019 has reached 8.5% which is the highest in over three years. Facts: The urban unemployment rate for October 2019 stood at 8.9% slightly higher than the rural unemployment rate of 8.3%. Among States, Tripura and Haryana saw the highest… Continue reading India’s unemployment rate has hit 3-year high
Purchasing Managers Index(PMI) for manufacturing slipped to two years low
News:The Purchasing Managers Index(PMI) has fallen to a two-year low of 50.6 in October,2019 from 51.4 in September,2019. Facts: The purchasing managers index has fallen as weakening demand had an effect in the manufacturing industry bringing down the rates of increase in production, employment and business sentiment. About PMI: PMI or Purchasing Managers’ Index(PMI) is… Continue reading Purchasing Managers Index(PMI) for manufacturing slipped to two years low
Tamil Nadu becomes first State to enact law on contract farming
News:Tamil Nadu has become the first State in the country to enact a law on contract farming with President giving assent to the Agricultural Produce and Livestock Contract Farming and Services (Promotion and Facilitation) Act. Facts: Features of the act: The act provides for a six-member body called the Tamil Nadu State Contract Farming and… Continue reading Tamil Nadu becomes first State to enact law on contract farming
Global Microscope report
News:The Global Microscope for Financial Inclusion report has been released. Facts: About Global Microscope report: The Global Microscope for Financial Inclusion report is produced by the Economist Intelligence Unit.The report was first published in 2007. The report is a benchmarking index that assesses the enabling environment for financial access in 55 countries. The report assessed… Continue reading Global Microscope report
Overseas citizens of India can subscribe to National Pension System
News:Pension Fund Regulatory and Development Authority (PFRDA) has now permitted Overseas Citizen of India(OCI) to enroll in the National Pension System(NPS) at par with Non-Resident Indians. Facts: About National Pension System(NPS): National Pension System (NPS) is a government-sponsored pension scheme. It was launched in 2004 for government employees.However,in 2009,it was opened to all sections. NPS… Continue reading Overseas citizens of India can subscribe to National Pension System
Core sector output falls 5.2% in September
News:The output of eight core infrastructure industries has decreased by 5.2% in September,2019 indicating the severity of the economic slowdown. Facts: All sectors in the core index with the exception of fertilisers has seen a contraction in September,2019. The experts have blamed consumption slowdown, heavy rainfall and flooding in several states as the prime reasons… Continue reading Core sector output falls 5.2% in September
