News:The 37th Goods & Services Tax(GST) Council meeting was held on 20th September 2019. Facts: Key Highlights of the meeting: Uniform GST rate of 12% to be levied on polypropylene bags and sacks used for packing of goods GST exempted on specified defence goods not manufactured in India Group insurance schemes for paramilitary forces under… Continue reading 37th GST Council meeting
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.
Teaser loans
News:The Reserve Bank of India(RBI) may not allow State Bank of India(SBI) plan to offer teaser loans. Facts: About Teaser loans: Teaser loans are those which charge comparatively lower rates of interest in the first few years after which the rates are increased. Why RBI is against teaser loans? The RBI feels that some borrowers… Continue reading Teaser loans
SEBI tightens norms for liquid funds
News:The Securities and Exchange Board of India (Sebi) has released a circular on risk management framework for liquid funds. Facts: About Liquid funds: Liquid funds belong to the debt category of mutual funds. They invest in very short-term market instruments like treasury bills, government securities among others. They are getting popular with retail investors due… Continue reading SEBI tightens norms for liquid funds
Explained: How the latest corporate tax rate cut impacts the economy
News:Finance Minister has announced to reduce the corporate tax rates in order to encourage manufacturing and boost private investment. Facts: About the tax rate cut:The government has taken the following decisions: Why the corporate tax rate cut? The corporate tax rate was reduced as the two other factors of the economy namely government expenditure (where… Continue reading Explained: How the latest corporate tax rate cut impacts the economy
Corporate social responsibility(CSR)
News:Government has decided to expand the scope of corporate spend under Corporate Social Responsibility(CSR) norms. Facts: About CSR: Corporate social responsibility (CSR) was initiated through the Companies Act, 2013. The act mandated companies and government organisations with (a)turnover of Rs1,000 crore or more(b)net worth exceeding Rs 500crore or (c)having more than Rs 5 crore in… Continue reading Corporate social responsibility(CSR)
Bharat Bill Payment System(BBPS)
News:The Reserve Bank of India has expanded the scope of the Bharat Bill Payment System (BBPS) by adding other categories of recurring payments through the portal. Facts: About BBPS: BBPS is an interoperable platform for repetitive bill payments.It functions under the aegis of National Payments Corporation of India (NPCI). It is a one-stop payment platform… Continue reading Bharat Bill Payment System(BBPS)
MSDE, IBM come together for nationwide Train-the-Trainer program in AI
News:Ministry of Skill Development has signed an agreement with Global IT major IBM for nationwide Train-the-Trainer program in Artificial Intelligence. Facts: About the program: As part of the program,trainers will be trained on basic Artificial Intelligence(AI) skills towards using the technology in their day-to-day training activities. The program will be executed over a period of… Continue reading MSDE, IBM come together for nationwide Train-the-Trainer program in AI
In liquidity push, PSBs plan ‘loan melas’ in 400 districts
News:Finance Minister has announced that the public sector banks will be organising loan meals in 400 districts beginning October 3,2019. Facts: About loan melas: The loan melas will be organized by the Public sector banks(PSB) in partnership with Non banking financial companies (NBFCs). The PSBs will focus on giving loans to the ‘RAM’ category namely… Continue reading In liquidity push, PSBs plan ‘loan melas’ in 400 districts
Committee to review Companies, LLP Acts
News:Government of India has constituted the company law committee for examining and making recommendations on various provisions and issues related to implementation of the Companies Act. Facts: About the committee: The committee will consist of 11-members which will be chaired by the Ministry of Corporate Affairs (MCA) secretary Injeti Srinivas. The committee will submit its… Continue reading Committee to review Companies, LLP Acts
Nirvik Scheme
News:Ministry of Commerce & Industry through Export Credit Guarantee Corporation(ECGC) has introduced a new Export Credit Insurance Scheme (ECIS) called NIRVIK. Facts: About the scheme: The scheme aims to ease the lending process and enhance loan availability for exporters. Under the scheme,the insurance cover guaranteed will cover up to 90% of the principal and interest.The… Continue reading Nirvik Scheme
