News:The Global Competitiveness Index (GCI) compiled by the World Economic Forum(WEF) has been released. Facts: About the Global Competitiveness Index(GCI): The Global Competitiveness Index is released by the World Economic Forum(WEF). It was launched in 1979.It ranks the competitiveness landscape of 141 economies through 103 indicators organised into 12 pillars. These 12 pillars are (1)… Continue reading Global Competitiveness Index
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 International Cooperative Trade Fair
News:A three-day India International Cooperative Trade Fair will be held in New Delhi from 11th October,2019. Facts: About the India International Cooperative trade fair: The trade fair is aimed at promoting cooperative-to-cooperative trade within India and abroad leading to enhanced rural and farm prosperity. It is a unique initiative for taking farmers, artisans & other… Continue reading India International Cooperative Trade Fair
Green Channel
News:The Competition Commission of India (CCI) has given its approval under the ‘green channel’ route to acquisition of Essel Mutual Fund by BAC Acquisitions Pvt Ltd, a Sachin Bansal-owned entity. Facts: About Green Channel: The green channel concept was recommended by the high level panel that reviewed the competition law. The Green Channel allows for… Continue reading Green Channel
Govt sets up high-level panel to check money laundering activities
News:Government has set up a 19-member Inter-Ministerial Coordination Committee for better cooperation among government departments to curb money laundering. Facts: About the committee: The committee will be chaired by the revenue secretary. It will have four other government secretaries of the departments of financial services, economic affairs, corporate affairs and external affairs who will be… Continue reading Govt sets up high-level panel to check money laundering activities
Public Finance Management System(PFMS)
News:Punjab government has directed all government procurement agencies to link the bank accounts of farmers with the Public Finance Management System (PFMS) portal before the procurement of paddy begins. Facts: About Public finance management system(PFMS): PFMS is an online platform developed and implemented by the office of the Controller General of Accounts(CGA) under the Union… Continue reading Public Finance Management System(PFMS)
Indian Technical and Economic Cooperation programme
News:The Development Partnership Administration Division of the External Affairs Ministry is celebrating the 55th Anniversary of India’s flagship capacity building programme – Indian Technical and Economic Cooperation(ITEC). Facts: About ITEC programme: The Indian Technical and Economic Cooperation(ITEC) Programme was instituted in 1964 as a bilateral programme of assistance of the Government of India. The Division… Continue reading Indian Technical and Economic Cooperation programme
Explained: Why state budgets matter
News:The Reserve Bank of India (RBI) has released its annual study of state-level budgets. Facts: Highlights of the study: The study has found that except during 2016-17,state governments have regularly met their fiscal deficit target of 3% of GDP. However,most states ended up meeting the fiscal deficit target not by increasing their revenues but by… Continue reading Explained: Why state budgets matter
India receives first tranche of Swiss account details
News:India has received the first tranche of details about financial accounts of its residents in Swiss banks under the automatic info exchange framework. Facts: In 2016,India and Switzerland had signed an Automatic exchange of information(AEOI) deal on bank accounts which came into effect from September 2019. About Automatic exchange of information(AEOI): Automatic exchange of information… Continue reading India receives first tranche of Swiss account details
RERA
News: The Tamil Nadu Real Estate Appellate Tribunal (TNREAT) has upheld a ruling by the Tamil Nadu Real Estate Regulatory Authority (TNRERA) that projects such as SEZ and estates involving sale of industrial plots to investors come under the purview of the Real Estate Regulatory Authority (RERA) Act. Facts: About Real Estate (Regulation and Development)… Continue reading RERA
Finance Minister to inaugurate national tax e-assessment centre
News:Union Finance Minister will be inaugurating the National e-Assessment Centre (NeAC) in New Delhi.The centre is part of the E-assessment scheme, 2019. Facts: About E-assessment scheme: The scheme aims at faceless e-assessment to impart greater efficiency, transparency and accountability in the assessment process.There would be no physical interface between taxpayers and tax officers. The scheme… Continue reading Finance Minister to inaugurate national tax e-assessment centre
