News:More than Rs 5,000 crore worth dues have been declared so far under the government’s ‘Sabka Vishwas Scheme’. Facts: About Sabka Vishwas Scheme: Government had announced the Sabka Vishwas legacy Dispute Resolution Scheme,2019 during Budget,2019. The objective of the scheme is to free the large number of small taxpayers of their pending disputes with the… Continue reading Over ₹5,000 cr dues declared so far under Sabka Vishwas Scheme
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.
Explained: What are negative interest rates and how do they work?
News:US President has criticized the US Federal Reserve for having increased the interest rates in the US economy thus undermining the competitiveness of the US firms and has called for introducing Negative interest rates. Facts: What are negative interest rates? Negative interest means instead of the bank paying you money to keep in a savings… Continue reading Explained: What are negative interest rates and how do they work?
Government unveils draft e-commerce rules
News:Government has released the draft Consumer Protection (e-Commerce) Rules,2019. Facts: About the E-commerce rules: Unfair Trade Practices:The rules prohibit E-commerce firms from adopting unfair methods or deceptive practice that may influence transactional decisions of consumers to products and services. False reviews:It also bars such entities from falsely representing themselves as consumers or post reviews about… Continue reading Government unveils draft e-commerce rules
Explained: Why SBI expects India’s Q2 GDP to grow by just 4.2%
News:According to State Bank of India Ecowrap report,India’s GDP growth will slow down further in the second quarter(July to August),2019 to 4.2%. Facts: Highlights of the report: The report has forecasted GDP growth rate at 5 percent for FY 2019-20 from the earlier projection of 6.1 percent. The slowdown in growth will be due to… Continue reading Explained: Why SBI expects India’s Q2 GDP to grow by just 4.2%
Govt. announces Steel Scrap Recycling Policy
News: Ministry of Steel has issued the Steel Scrap Recycling Policy. Facts: Steel Scrap Recycling Policy Objectives: To promote circular economy in the steel sector. To promote a formal and scientific collection, dismantling and processing activities for end of life products that are sources of recyclable (ferrous, non- ferrous and other non-metallic) scraps. Processing and… Continue reading Govt. announces Steel Scrap Recycling Policy
Parliamentary standing committee invites suggestions on ‘The Occupational safety, health and working conditions code, 2019
News: The Occupational Safety Health and Working Conditions Code, 2019, has been referred by the Speaker to the Standing Committee on Labour headed by Bhartruhari Mahtab, for examination and report. Facts: About Occupational Safety, Health and Working Conditions Code, 2019 The code was introduced in the Lok Sabha in July 2019 The Code repeals and… Continue reading Parliamentary standing committee invites suggestions on ‘The Occupational safety, health and working conditions code, 2019
Khadi gets separate HS code
News:The Ministry of Commerce and Industry has allocated separate HS code for Khadi to boost exports of this signature fabric of India. Facts: About HS Code: HS stands for Harmonized System and was developed by the World Customs Organization (WCO). The code is used by customs officers to clear commodities entering or crossing international borders.… Continue reading Khadi gets separate HS code
Asset Liability management(ALM) Framework for NBFC’s
News:The Reserve Bank of India(RBI) has introduced ‘liquidity management framework’ for Non-Banking Financial Companies (NBFCs). Facts: Why this framework? This framework is introduced due to liquidity crunch faced by some NBFCs after the collapse of the Infrastructure Leasing and Financial Services(IL&FS) group. About the framework: The framework has introduced the liquidity coverage ratio(LCR) for Non-Banking… Continue reading Asset Liability management(ALM) Framework for NBFC’s
RBI’s panel suggests measures to strengthen core investment companies
News:The Reserve Bank of India(RBI) panel to review the regulatory and Supervisory Framework for Core Investment Companies headed by Tapan Ray has submitted its report. Facts: About CIC’s: Core Investment Companies (CICs) are Non-Banking Financial Companies(NBFCs) having asset size of Rs 100 crore and above. The main business of CIC is of acquisition of shares… Continue reading RBI’s panel suggests measures to strengthen core investment companies
Government approves Rs 25,000 crore alternate fund for stalled housing projects
News:Government has approved a Rs 25,000-crore special window to provide funding to stalled housing projects. Facts: Why this fund? The government expects this fund to revive the real estate sector, generate employment and provide a boost to the economy through demand for materials like cement. About the fund: The fund will be set up as… Continue reading Government approves Rs 25,000 crore alternate fund for stalled housing projects
