News:The Reserve Bank of India’s Monetary Policy Committee is set to announce its bi-monthly policy review on October 4,2019. Facts: What is likely to happen in the policy review? The RBI is likely to cut the repo rate by anywhere between 35 to 40 basis points due to following reasons- Inflation is under control.Hence,there is… Continue reading Explained: Why RBI may cut interest rates tomorrow and why it may not be enough
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 Economic Summit
News:The World Economic Forum’s 33rd edition of the India Economic Summit will begin from October 3rd in New Delhi. Facts: About the summit: The summit is being held by the World Economic Forum in collaboration with the CII(Confederation of Indian Industry). The theme of the summit is ‘Innovating for India: Strengthening South Asia, Impacting the… Continue reading India Economic Summit
Explained: How Bangladesh’s economic growth is stealing India’s thunder
News:The economic outlook update released by the Asian Development Bank(ADB) has shown how Bangladesh is the standout economy in terms of growth momentum in South Asia. Facts: What did the report said? The report has said that Bangladesh has been experiencing high and consistently rising economic growth rate while maintaining a stable level of inflation.… Continue reading Explained: How Bangladesh’s economic growth is stealing India’s thunder
Documentation Identification Number(DIN)
News:The Document Identification Number(DIN) system of Central Board of Direct Taxes(CBDT) has come into existence. Facts: Document Identification Number(DIN): Document identification number(DIN) is the new system of identification number that Income tax department has introduced for the taxpayers. Every communication to be issued by the Income-Tax Department will now have a Document Identification Number,This intends… Continue reading Documentation Identification Number(DIN)
WTO cuts global trade growth forecast to 1.2% for 2019
News:The World Trade Organization(WTO) has reduced its global growth forecasts for 2019 to 1.2% from the earlier 2.6%. Facts: The trade forecasts has been reduced due to (a)downgrades on slower growth in major economies (b)trade wars and (c)ongoing uncertainty over Brexit. It has also said that the job creation may also be affected as firms… Continue reading WTO cuts global trade growth forecast to 1.2% for 2019
Sovereign Gold Bond Scheme
News:Government of India in consultation with the Reserve Bank of India has decided to issue Sovereign Gold Bonds. Facts: About the scheme: Sovereign Gold Bonds are government securities denominated in grams of gold.They are substitutes for holding physical gold. The scheme was launched in November 2015 to reduce the demand for physical gold and shift… Continue reading Sovereign Gold Bond Scheme
Changes in Apprenticeship Rules notified
News:Government has notified changes in Apprenticeship Rules(1992) with an aim to increase skilled manpower in the country and raise monetary compensation of apprentices. Facts: What is Apprenticeship? The Apprenticeship Training programme is the combination of on-the-job training and classroom training wherein the workers earn while learning the skills required for performing the specialized job. Salient… Continue reading Changes in Apprenticeship Rules notified
Explained: How to read corporate tax cut
News:Recently, the Government has reduced the corporate tax rates in order to encourage manufacturing and boost private investment. Facts: What has the government done? The central government has slashed corporate tax rates for domestic firms from 30% to 22% and for new manufacturing companies from 25% to 15% to boost economic growth. The new effective… Continue reading Explained: How to read corporate tax cut
Enterprise development centres
News:Union micro, small and medium enterprises sector (MSME) minister will launch the enterprise development centres(EDCs). Facts: About EDC Enterprise Development Centres(EDCs) are aimed at developing a cadre of indigenous entrepreneurs in the MSMEs. They are planned for every district by the end of the current financial year (2019-20). The EDCs will be similar to incubators… Continue reading Enterprise development centres
Kerala CM launches capacity development programme for women entrepreneurs
News:Kerala Chief Minister has launched the Kerala edition of WING-Women Rise Together. Facts: WING is an initiative by Startup India,Department for Promotion of Industry and Internal Trade(DPIIT). The programme aims to identify and support aspiring and established women entrepreneurs by providing them access to incubation, investors and various business support services. Kerala Startup Mission(KSUM) along… Continue reading Kerala CM launches capacity development programme for women entrepreneurs
