News:India has received the first tranche of details about financial accounts of its residents in Swiss banks under the automatic info exchange framework. Facts: In 2016,India and Switzerland had signed an Automatic exchange of information(AEOI) deal on bank accounts which came into effect from September 2019. About Automatic exchange of information(AEOI): Automatic exchange of information… Continue reading India receives first tranche of Swiss account details
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.
RERA
News: The Tamil Nadu Real Estate Appellate Tribunal (TNREAT) has upheld a ruling by the Tamil Nadu Real Estate Regulatory Authority (TNRERA) that projects such as SEZ and estates involving sale of industrial plots to investors come under the purview of the Real Estate Regulatory Authority (RERA) Act. Facts: About Real Estate (Regulation and Development)… Continue reading RERA
Finance Minister to inaugurate national tax e-assessment centre
News:Union Finance Minister will be inaugurating the National e-Assessment Centre (NeAC) in New Delhi.The centre is part of the E-assessment scheme, 2019. Facts: About E-assessment scheme: The scheme aims at faceless e-assessment to impart greater efficiency, transparency and accountability in the assessment process.There would be no physical interface between taxpayers and tax officers. The scheme… Continue reading Finance Minister to inaugurate national tax e-assessment centre
Fourth Bi-monthly monetary policy review
News:The Monetary Policy Committee of the Reserve Bank of India(RBI) has cut the key policy rate by 25 basis points to 5.15 %. Facts: Highlights of the Monetary policy: The Reserve Bank of India’s(RBI) Monetary Policy Committee(MPC) has decided to reduce the policy repo rate under the liquidity adjustment facility(LAF) by 25 basis points to… Continue reading Fourth Bi-monthly monetary policy review
Government constitutes working group to prepare contours of new industrial policy
News:Government has constituted a working group to prepare the contours of a new industrial policy to make India a manufacturing hub. Facts: This will be the third industrial policy after the first in 1956 and the second in 1991. The new industrial policy will replace the industrial policy of 1991 which was prepared in the… Continue reading Government constitutes working group to prepare contours of new industrial policy
Cabinet approves new strategic disinvestment process
News:Union Cabinet has approved a new process of strategic disinvestment with a view to expediting privatization of select PSUs. Facts: What are the new changes? Under the new policy, the Department of Investment and Public Asset Management (DIPAM) under the Ministry of Finance has been made the nodal department for the strategic disinvestment sale. Currently,… Continue reading Cabinet approves new strategic disinvestment process
Explained: Why RBI may cut interest rates tomorrow and why it may not be enough
News:The Reserve Bank of India’s Monetary Policy Committee is set to announce its bi-monthly policy review on October 4,2019. Facts: What is likely to happen in the policy review? The RBI is likely to cut the repo rate by anywhere between 35 to 40 basis points due to following reasons- Inflation is under control.Hence,there is… Continue reading Explained: Why RBI may cut interest rates tomorrow and why it may not be enough
India Economic Summit
News:The World Economic Forum’s 33rd edition of the India Economic Summit will begin from October 3rd in New Delhi. Facts: About the summit: The summit is being held by the World Economic Forum in collaboration with the CII(Confederation of Indian Industry). The theme of the summit is ‘Innovating for India: Strengthening South Asia, Impacting the… Continue reading India Economic Summit
Explained: How Bangladesh’s economic growth is stealing India’s thunder
News:The economic outlook update released by the Asian Development Bank(ADB) has shown how Bangladesh is the standout economy in terms of growth momentum in South Asia. Facts: What did the report said? The report has said that Bangladesh has been experiencing high and consistently rising economic growth rate while maintaining a stable level of inflation.… Continue reading Explained: How Bangladesh’s economic growth is stealing India’s thunder
Documentation Identification Number(DIN)
News:The Document Identification Number(DIN) system of Central Board of Direct Taxes(CBDT) has come into existence. Facts: Document Identification Number(DIN): Document identification number(DIN) is the new system of identification number that Income tax department has introduced for the taxpayers. Every communication to be issued by the Income-Tax Department will now have a Document Identification Number,This intends… Continue reading Documentation Identification Number(DIN)
