Government has proposed to set up a development financial institution (DFI). DFI is expected to solve the infrastructure financing needs of the country as banks do not have the long-term funds to finance such projects.DFI’s will also help in reviving the economic growth of the country. Development financial institution(DFI) are specialized institutions set up primarily… Continue reading Development financial institution to fund infrastructure
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.
Sitharaman gives MSME sector a breather
Finance minister has announced several measures to provide some relief to Micro,Small and Medium Enterprises(MSMEs) sector. Finance Minister has announced that all pending Goods and Services tax(GST) dues for the MSME sector shall be cleared within 30 days.In the future,all such dues would be cleared within 60 days of application. Further,the banks will issue improved… Continue reading Sitharaman gives MSME sector a breather
Escape from angel tax delights start-ups
Finance minister has announced that angel tax will not be applicable on startups that are registered with the Department for Promotion of Industry and Internal Trade(DPIIT). The move is likely to give a long-demanded angel tax relief to start-ups and exempt them from scrutiny. The government has also decided to set up a dedicated cell… Continue reading Escape from angel tax delights start-ups
SEBI announces reward of Rs 1 crore to insider trading informants
Securities and Exchange Board of India(SEBI) has approved a detailed set of rules for the new ‘Informant Mechanism’ under its Prohibition of Insider Trading Regulations. However,these rules would only be available to individuals and corporates.But professionals like auditors will not be able to use this route as they are duty-bound to report any wrongdoing. Insider… Continue reading SEBI announces reward of Rs 1 crore to insider trading informants
National Conference of Tourism Ministers
The National Conference of Tourism Ministers organized by the Union Ministry of Tourism was concluded successfully in New Delhi. The conference was inaugurated by Union Minister of State for Tourism and was attended by State Tourism Ministers of States and Union Territories (UTs). The conference was aimed at deliberation on various issues related to development… Continue reading National Conference of Tourism Ministers
Tirur Vettila obtains GI tag
Geographical Indication Registry of India has accorded Geographical Indication(GI) tag to Tirur Vettila. Tirur Vettila is a betel leaf.It is produced in Tirur and nearby areas of Malappuram district,Kerala. Tirur Vettila is unique for its significantly high content of total chlorophyll and protein in fresh leaves.The leaf also has several medicinal properties. Eugenol is the… Continue reading Tirur Vettila obtains GI tag
What an inverted yield curve means
Recently,United States and UK yield curves had inverted for the first time since 2007 and 2008 respectively.This has led to the fear of global recession in the coming future. The yield curve is a graph showing the relationship between interest rates earned on lending money for different durations. A normal yield curve is one in… Continue reading What an inverted yield curve means
Economy shows further weakening, needs larger push: Shaktikanta Das at MPC meet
The RBI has released the minutes of the monetary policy committee (MPC) meeting. During the meeting,RBI governor said that RBI had to cut the repo rate by an unconventional 35 basis points to 5.4% in view of weakening of domestic growth and unstable global macroeconomic environment. Further,the governor said that the rate cut was given… Continue reading Economy shows further weakening, needs larger push: Shaktikanta Das at MPC meet
IMF warns against rate cuts, currency intervention to improve trade balance
The International Monetary Fund(IMF) has warned the United States and China that higher bilateral tariffs are unlikely to reduce aggregate trade imbalances as they mainly divert trade to other countries. Instead,they are likely to harm both domestic and global growth by affecting business confidence and investment and disrupting global supply chains. The IMF has also… Continue reading IMF warns against rate cuts, currency intervention to improve trade balance
Tax notices to soon carry an identification number
Central Board of Direct taxes(CBDT) has said that all communications made by the tax department to tax assessees from October 1,2019 will have to carry a Document Identification Number(DIN). Document identification number(DIN) is the new system of identification number that Income tax department has introduced for the taxpayers. The DIN will be generated by the… Continue reading Tax notices to soon carry an identification number
