Union Telecom minister has said that the draft of Personal Data Protection Bill,2018 is finalised. The minister also said that India will uphold its data sovereignty and it will not be negotiable.However,some degree of data movement may be allowed but that will be based upon reciprocity and understanding. The draft of Personal Data Protection Bill,2018… Continue reading Cross-border data movement under new law may be allowed on basis of reciprocity: Prasad
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.
Cabinet approves New Delhi International Arbitration Centre Bill,2019
Union Cabinet has approved the New Delhi International Arbitration Centre Bill,2019 for introduction in the ensuing session of Parliament. The Bill provides for setting up of an independent autonomous body for institutional arbitration and to acquire and transfer the undertakings of International Centre For Alternative Dispute Resolution (ICADR) to New Delhi International Arbitration Centre(NDIAC). NDIAC… Continue reading Cabinet approves New Delhi International Arbitration Centre Bill,2019
Trade deficit widens to $15.36 bn in May
According to data released by the Ministry of Commerce,India’s trade deficit has widened to a six-month high of $15.4 billion in May,2019. The trade deficit has widened due to import growth outpacing export growth following a 37% jump in gold imports. The rising crude oil prices due to sanctions on Iranian oil imports could further… Continue reading Trade deficit widens to $15.36 bn in May
IBC-type framework for NBFCs, simplified GST among several issues raised with Finance Minister
Finance Minister has held pre-budget discussions with the economists. The economists stressed on the need to (a)promote labour intensive sectors and (b)manufacturing through Make in India. Further,they also suggested simplification of GST,Insolvency and Bankruptcy Code(IBC)-type framework for NBFC,implementation of Direct Tax Code and constitution of independent fiscal policy committee. Economists also gave suggestions on tariff… Continue reading IBC-type framework for NBFCs, simplified GST among several issues raised with Finance Minister
WPI inflation at 2-year low in May
According to government data, wholesale price-based inflation has reached a 22-month low of 2.45% in May. The decline has been attributed to falling prices of food articles, fuel and power items. Wholesale Price Inflation tracks changes in the price of goods in stages before the retail level i.e. goods that are sold in bulk and… Continue reading WPI inflation at 2-year low in May
India gets $42-billion FDI inflows in 2018: UN report
According to UNCTAD’s World Investment Report 2019,Foreign Direct Investment (FDI) into India has increased by 6% to $42 billion in 2018. The sectors which received the strong inflows includes (a)manufacturing, (b)communication (c)financial services (d)cross-border merger and (e)acquisition activities. The report ranks India at 10th position amongst the top recipients of FDI in 2018. The report… Continue reading India gets $42-billion FDI inflows in 2018: UN report
Multilateral instrument to curb tax treaty abuse
The Union Cabinet has approved the ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). The Multilateral Convention is an outcome of the OECD and G20 Project to tackle Base Erosion and Profit Shifting(BEPS Project). The BEPS Project objective is to tackle base erosion and… Continue reading Multilateral instrument to curb tax treaty abuse
SEBI directs rating agencies to disclose probability of default
The Securities and Exchange Board of India (Sebi) has prescribed guidelines to strengthen the disclosures made by credit rating agencies to enhance the rating standards. SEBI has asked credit rating agencies(CRAs) to start disclosing a probability of default(PD) benchmark for the companies rated by them. Probability of default(PD) is a financial term describing the likelihood… Continue reading SEBI directs rating agencies to disclose probability of default
U.S. open to dialogue on GSP, says Pompeo
The US secretary of state has said that the US could discuss its decision to withdraw duty-free benefits to Indian exporters under the generalized system of preferences (GSP) scheme. GSP is a preferential tariff system extended by developed countries to developing countries.It is a preferential arrangement in the sense that it allows concessional low/zero tariff… Continue reading U.S. open to dialogue on GSP, says Pompeo
Pre-Budget consultations: Financial sector seeks dedicated liquidity window for NBFCs
Finance Minister has held pre-budget discussions with the representatives from India’s financial sector. The representatives sought for a dedicated liquidity window for non-bank finance companies(NBFC) that can be used as a source of emergency funding. The bankers has asked the government to infuse capital in regional rural banks,rationalise the securities transaction tax and make corporate… Continue reading Pre-Budget consultations: Financial sector seeks dedicated liquidity window for NBFCs
