News:Union Cabinet has approved the signing of Double Taxation Avoidance Agreement (DTAA) and Protocol between India and the Republic of Chile. Facts: About Double Taxation Avoidance Agreement(DTAA): Double Tax Avoidance Agreements(DTAAs) is a tax treaty signed between two or more countries. The objective of DTAA is that tax-payers in these countries can avoid being taxed… Continue reading Cabinet approves Double Taxation Avoidance Agreement between India-Chile
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.
Boosting Textile Industry Through Technology Upgradation
News:Union Minister of Textiles has informed Rajya Sabha about the Amended Technology Upgradation Fund Scheme(ATUFS). Facts: About Amended Technology Upgradation Fund Scheme(ATUFS): The Technology Upgradation Fund Scheme was introduced by the Government of India in 1999. It’s objective was to facilitate new and appropriate technology for making the textile industry globally competitive and to reduce… Continue reading Boosting Textile Industry Through Technology Upgradation
RBI revises framework on currency swap arrangement for SAARC countries
News:The Reserve Bank has said that it has put in place a revised framework on currency swap arrangement for SAARC countries for 2019-2022. Facts: About currency swap arrangement: A currency swap between countries is an agreement to exchange currencies with predetermined terms and conditions. The countries engage in currency swaps with foreign counterparts to meet… Continue reading RBI revises framework on currency swap arrangement for SAARC countries
Govt. extends 15th finance panel term
News:The Union Cabinet has approved the extension of the term of the 15th Finance Commission setting 30th October,2020 as the new deadline. Facts: About Finance Commission: The Finance Commission is constituted by the President under Article 280 of the Constitution mainly to give its recommendations on distribution of tax revenues between the Union and the… Continue reading Govt. extends 15th finance panel term
Infra spending by States must rise: Crisil
News:The Credit rating agency CRISIL has released its Infrastructure Yearbook 2019. Facts: Key takeaways from the Yearbook: CRISIL has said that states need to scale up investments to Rs 110 lakh crore over the next decade to achieve India’s massive infrastructure targets. The country-wide infrastructure spending required will be Rs 235 lakh crore over the… Continue reading Infra spending by States must rise: Crisil
Reserve Bank flags rising bad assets from Mudra loans
News:The Reserve Bank of India (RBI) has expressed concern over rising bad loans from Pradhan Mantri MUDRA Yojana(PMMY). Facts: About Rising Bad loans in MUDRA Yojana: The RBI Deputy Governor said that MUDRA was launched with the objective of lifting many beneficiaries out of poverty. However,there have been concerns at the growing level of non-performing… Continue reading Reserve Bank flags rising bad assets from Mudra loans
Explained:Nomura’s Food Vulnerability Index(NFVI)
News:According to a report by Nomura Global Market Research, India is ranked 44 out of 110 countries in Nomura’s Food Vulnerability Index. Facts: About Nomura’s Food Vulnerability Index: Nomura is a financial services group with an integrated global network spanning over 30 countries.It is headquartered in Japan. Nomura’s Food Vulnerability Index(NFVI) ranks countries on the… Continue reading Explained:Nomura’s Food Vulnerability Index(NFVI)
Taxation Laws (Amendment) Bill, 2019 introduced in Lok Sabha
News:Finance Minister has introduced the Taxation Laws (Amendment) Bill, 2019 in the Lok Sabha. Facts: Key features of the bill: Currently, domestic companies with an annual turnover of up to Rs 400 crore pay income tax at the rate of 25%.For other domestic companies, the tax rate is 30%. The bill provides domestic companies with… Continue reading Taxation Laws (Amendment) Bill, 2019 introduced in Lok Sabha
Corporate Social Responsibility undertaken by Oil PSUs
News:Union Minister for Petroleum and Natural Gas has informed Lok Sabha about the initiatives undertaken by Oil PSUs as part of their Corporate Social Responsibility(CSR). Facts: About Corporate Social Responsibility(CSR): Corporate social responsibility(CSR) was initiated through the Companies Act, 2013. The act mandates companies and government organisations with (a)turnover of Rs1,000 crore or more(b)net worth… Continue reading Corporate Social Responsibility undertaken by Oil PSUs
Periodic Labour Force Survey: Quarterly Bulletin
News: The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation has released the Quarterly Bulletin for the period January- March, 2019. It presents estimates of labour force indicators, for urban areas. Facts: Key takeaways: Labour Force Participation Rate (LFPR) in Current Weekly Status for all ages is estimated as 36% in the urban… Continue reading Periodic Labour Force Survey: Quarterly Bulletin
