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
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.
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
Asia-Pacific Trade and Investment Report
News:The Asia-Pacific Trade and Investment Report 2019 has been released. Facts: About the report: The report has been published by the United Nations Economic and Social Commission for Asia and the Pacific(ESCAP) and the United Nations Conference on Trade and Development(UNCTAD). The report provides information on developments in (a)intra- and inter-regional trade in goods and… Continue reading Asia-Pacific Trade and Investment Report
20th Livestock Census
News: The 20th Livestock Census has been released. Facts: Key takeaways: The total Livestock population is 535.78 million in the country showing an increase of 4.6% over Livestock Census-2012 Total Bovine population (Cattle, Buffalo, Mithun and Yak) is 302.79 Million in 2019 which shows an increase of about 1% over the previous census. The total… Continue reading 20th Livestock Census
World Economic Outlook
News:The International Monetary Fund(IMF) has released the World Economic Outlook(WEO) Report. Facts: Key takeaways from the report: The report has downgraded India’s growth projections to 6.1% in 2019 and 7% in 2020. The report has said that the global economy is at its slowest pace of growth at 3%.This is a serious climb down from… Continue reading World Economic Outlook
DPIIT launches website and mobile app for IPR
News:Department for Promotion of Industry and Internal Trade(DPIIT) has launched the website and mobile application L2Pro India on Intellectual Property Rights (IPRs). Facts: About L2Pro: L2 Pro stands for Learn to Protect, Secure and Maximize Your Innovation. The website and app have been developed by Cell for IPR Promotion and Management(CIPAM) in collaboration with Qualcomm… Continue reading DPIIT launches website and mobile app for IPR
Government to decriminalise 2/3rds of offences under the Companies Act
News:The Union government is all set to do away with jail term in over 40 of the 66 sections under the Companies Act 2013.These changes are being discussed by the Company Law Committee. Facts: About the company law committee: Government of India had constituted the company law committee for examining and making recommendations on various… Continue reading Government to decriminalise 2/3rds of offences under the Companies Act
World Bank Cuts India’s Growth Forecast To 6%
News:The World Bank has reduced India’s economic growth forecast in its South Asia Economic Focus report. Facts: Key takeaways from the report: The World Bank has projected India’s gross domestic product growth at 6% in the fiscal year 2020 compared with 7.5% forecast in April,2019. However,the bank also expects India’s growth to gradually recover to… Continue reading World Bank Cuts India’s Growth Forecast To 6%
Index of Industrial Production(IIP)
News:India’s industrial sector production(IIP) has contracted by 1.1% in August when compared to the production in the same month in 2018. Facts: About IIP: The Index of Industrial Production (IIP) is a composite indicator that measures changes in the volume of production of a basket of industrial products. The index is compiled and published monthly… Continue reading Index of Industrial Production(IIP)
