News:The Union government is all set to do away with jail term in over 40 of the 66 sections under the Companies Act 2013.These changes are being discussed by the Company Law Committee. Facts: About the company law committee: Government of India had constituted the company law committee for examining and making recommendations on various… Continue reading Government to decriminalise 2/3rds of offences under the Companies Act
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.
World Bank Cuts India’s Growth Forecast To 6%
News:The World Bank has reduced India’s economic growth forecast in its South Asia Economic Focus report. Facts: Key takeaways from the report: The World Bank has projected India’s gross domestic product growth at 6% in the fiscal year 2020 compared with 7.5% forecast in April,2019. However,the bank also expects India’s growth to gradually recover to… Continue reading World Bank Cuts India’s Growth Forecast To 6%
Index of Industrial Production(IIP)
News:India’s industrial sector production(IIP) has contracted by 1.1% in August when compared to the production in the same month in 2018. Facts: About IIP: The Index of Industrial Production (IIP) is a composite indicator that measures changes in the volume of production of a basket of industrial products. The index is compiled and published monthly… Continue reading Index of Industrial Production(IIP)
Bullet Train Project
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
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%
