News: Gujarat high court rejected more than 100 pleas challenging the land acquisition process for Mumbai-Ahmedabad High-Speed Rail (MAHSR) Project. Facts: The E5 Shinkansen series Bullet Train Project (Mumbai-Ahmedabad High-Speed Rail (MAHSR) is an India-Japan joint venture. The agreement was signed with Japan International Cooperation Agency (JICA). The project was inaugurated in 2017 and is… Continue reading Bullet Train Project
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.
Bangladesh, Nepal to grow faster than India: World Bank report
News:The World Bank has released its South Asia Economic Focus report, 2019. Facts: Key takeaways from the report: The report is titled “Exports Wanted”.It highlights the export potential of the South Asian region being not used to the fullest. The report says that Bangladesh and Nepal are growing faster than India. However, it said that… Continue reading Bangladesh, Nepal to grow faster than India: World Bank report
Special and differential(S&D) treatment
News:India China and several African nations has cautioned against diluting special and differential treatment provisions related to developing countries, as it would lead to deadlock at the WTO. Facts: About Special and differential treatment: The WTO Agreements contain special provisions which give developing countries special rights and which give developed countries the possibility to treat… Continue reading Special and differential(S&D) treatment
India rejects RCEP e-commerce chapter
News:India has rejected the e-commerce chapter of the Regional Comprehensive Economic Partnership (RCEP) agreement. Facts: What did the e-commerce chapter contains? The e-commerce chapter contains clauses which if India had agreed to them,would have prevented India from implementing data localisation rules on companies doing business in India. Instead, India has proposed that participating country can… Continue reading India rejects RCEP e-commerce chapter
RCEP: Opportunity, fears in regional trade deal
News:Union Minister of Commerce & Industry and Railways will be attending the 8th Regional Comprehensive Economic Partnership(RCEP) Ministerial Meeting in Bangkok.Thailand. Facts: What is RCEP? RCEP is a proposed regional free trade agreement (FTA) comprising of ASEAN countries (Brunei, Cambodia, Indonesia, Malaysia, Myanmar, Singapore, Thailand, the Philippines, Laos and Vietnam) and their 6 FTA partners… Continue reading RCEP: Opportunity, fears in regional trade deal
GST Council forms 12-member panel
News:The Goods and Services Tax(GST) Council has constituted a 12-member committee of officials from states and Centre to suggest steps to augment revenue and improve compliance under the GST regime. Facts: Why was the committee formed? The committee was formed after the gross monthly collection has fallen to a 19 month low of ₹91,916 crore… Continue reading GST Council forms 12-member panel
Moody’s cuts India GDP growth forecast to 5.8%
News:International rating agency Moody has announced the lowering of India’s Gross Domestic Products(GDP) growth to 5.8% from 6.2%. Facts: The reasons for lowering the growth rate are (a)investment-led slowdown (b)weak consumption (c)financial stress among rural households and (d)weak job creation. Further, credit crunch among Non-Bank Financial Institutions(NBFIs) who have been major providers of retail loans… Continue reading Moody’s cuts India GDP growth forecast to 5.8%
Input tax Credit
News:Government has decided to restrict input tax credit under the goods and services tax to 20% of the eligible amount for an entity if its supplier has not uploaded relevant invoices detailing the payments made. Facts: There was no such restriction until now as input tax credit was claimed by taxpayers on the basis of… Continue reading Input tax Credit
Empowered Group for Privatization of Railways
News: The Ministry of Railways will form an Empowered Group to oversee the entry of private operators for 150 trains and development of 50 railway stations as per global standards. Facts: Composition: Panel will be led by NITI Aayog CEO Amitabh Kant Other members of the panel will include Railway board Chairman, Economic Affairs secretary,… Continue reading Empowered Group for Privatization of Railways
Effects of global slowdown more pronounced in India: IMF chief
News:The International Monetary Fund(IMF) President has said that the world economy is experiencing a synchronized slowdown and emerging economies such as India and Brazil are the most affected by the slowdown. Facts: The IMF chief said that she expects slower growth in nearly 90% of the world this year. She said that trade tensions had… Continue reading Effects of global slowdown more pronounced in India: IMF chief
