The government is planning a set of measures to reverse an economic slowdown that is going through losses, layoffs and an investment freeze. The measures include (a)steps to boost infrastructure investments (b)goods and services tax(GST) relief to specific sectors (c)ways to further cut red tape on cross-border trade and (d)steps to improve ease of doing… Continue reading Govt looks to reverse economic slowdown with a stimulus package
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.
Two ways to look at GDP
Researchers and academicians have raised doubts about the new methodology employed by the Central Statistics Office(CSO) to estimate India’s gross domestic product(GDP). In 2015,CSO had introduced a new series of National Account Statistics. The new series made several changes to estimate India’s gross domestic product(GDP).In particular,it revised the base year from 2004-05 to 2011-12. However,the… Continue reading Two ways to look at GDP
Wage code looks to check graft in inspection system
Parliament has passed the Code on Wages Bill, 2019.The Bill has subsumed existing laws related to workers remuneration. The bill will replace the (a)Payment of Wages Act,1936, (b)Minimum Wages Act,1948 (c)Payment of Bonus Act,1965 and the (d)Equal Remuneration Act,1976. The bill makes it difficult for companies to bribe labour inspectors of their region for favourable… Continue reading Wage code looks to check graft in inspection system
‘Uber for tractors’: Government to launch app to aid farmers
The agriculture ministry has developed a farm equipment rental app for Indian farmers called Uber for tractors. The app will allow the farmers to hire tractors, rotavator and other farm related machinery on rent for with flexible tenure. The farmers who wish to hire equipment can register using their names, addresses and mobile numbers and… Continue reading ‘Uber for tractors’: Government to launch app to aid farmers
FM Sitharaman meets realtors, homebuyers; govt to tackle liquidity issues, stalled projects
Finance minister has interacted with the industry representatives to understand measures required to remove friction points in the economy. The measures are aimed at ensuring easy availability of funds to productive sectors and stimulate overall growth. The real estate sector has also flagged their concerns regarding the ongoing liquidity crunch,demand slowdown and problem of stalled… Continue reading FM Sitharaman meets realtors, homebuyers; govt to tackle liquidity issues, stalled projects
Certification of seeds to be made mandatory to step up farm output
The Union Government is planning to mandate uniform certification of seed by amending the Seeds Act,1966. This decision was taken as more than half of all seeds sold by private companies in India are not certified by any proper testing agency. The Centre also hopes to roll out a software to barcode seeds in order… Continue reading Certification of seeds to be made mandatory to step up farm output
Draft policy on logistics ignores express industry
Government has released the draft National Logistics Policy. The policy has been prepared by the Ministry of Commerce and Industry in consultation with the Ministries of Railways,Road Transport and Highways,Shipping and Civil Aviation. The aim of the policy is to reduce the logistics cost from the present 14% of GDP to less than 10% by… Continue reading Draft policy on logistics ignores express industry
National Entrepreneurship Awards,2019
Ministry of Skills Development and Entrepreneurship has announced the fourth edition of National Entrepreneurship Awards,2019. The awards has been instituted in a bid to recognize and encourage outstanding Indian Entrepreneurs and catalyse a cultural shift in youth for entrepreneurship. The award aims to honour outstanding young first generation entrepreneurs and ecosystem builders for their exceptional… Continue reading National Entrepreneurship Awards,2019
Shri Arjun Munda inaugurates ‘National Workshop on Tribal Enterprise with focus on Honey, Bamboo & Lac’
Union Minister for Tribal Affairs has inaugurated a “National Workshop on Tribal Enterprise with focus on Honey, Bamboo and Lac”. During the workshop,the union minister released the reports on (a) Bamboo and Bamboo Nomics (b) Lac and (c) Honey. India is the world’s second largest cultivator of bamboo after China. According to the data,India’s annual… Continue reading Shri Arjun Munda inaugurates ‘National Workshop on Tribal Enterprise with focus on Honey, Bamboo & Lac’
‘FPI tax issues put divestment at risk’
The government may miss its disinvestment target of ₹1.05 lakh crore that has been set for the current financial year.Disinvestment is defined as the action of an organisation or government selling or liquidating an asset or subsidiary. The target may be missed as foreign portfolio investors(FPIs) could stay away from such share sales if the… Continue reading ‘FPI tax issues put divestment at risk’
