News:The World Trade Organization(WTO) has reduced its global growth forecasts for 2019 to 1.2% from the earlier 2.6%. Facts: The trade forecasts has been reduced due to (a)downgrades on slower growth in major economies (b)trade wars and (c)ongoing uncertainty over Brexit. It has also said that the job creation may also be affected as firms… Continue reading WTO cuts global trade growth forecast to 1.2% for 2019
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.
Sovereign Gold Bond Scheme
News:Government of India in consultation with the Reserve Bank of India has decided to issue Sovereign Gold Bonds. Facts: About the scheme: Sovereign Gold Bonds are government securities denominated in grams of gold.They are substitutes for holding physical gold. The scheme was launched in November 2015 to reduce the demand for physical gold and shift… Continue reading Sovereign Gold Bond Scheme
Changes in Apprenticeship Rules notified
News:Government has notified changes in Apprenticeship Rules(1992) with an aim to increase skilled manpower in the country and raise monetary compensation of apprentices. Facts: What is Apprenticeship? The Apprenticeship Training programme is the combination of on-the-job training and classroom training wherein the workers earn while learning the skills required for performing the specialized job. Salient… Continue reading Changes in Apprenticeship Rules notified
Explained: How to read corporate tax cut
News:Recently, the Government has reduced the corporate tax rates in order to encourage manufacturing and boost private investment. Facts: What has the government done? The central government has slashed corporate tax rates for domestic firms from 30% to 22% and for new manufacturing companies from 25% to 15% to boost economic growth. The new effective… Continue reading Explained: How to read corporate tax cut
Enterprise development centres
News:Union micro, small and medium enterprises sector (MSME) minister will launch the enterprise development centres(EDCs). Facts: About EDC Enterprise Development Centres(EDCs) are aimed at developing a cadre of indigenous entrepreneurs in the MSMEs. They are planned for every district by the end of the current financial year (2019-20). The EDCs will be similar to incubators… Continue reading Enterprise development centres
Kerala CM launches capacity development programme for women entrepreneurs
News:Kerala Chief Minister has launched the Kerala edition of WING-Women Rise Together. Facts: WING is an initiative by Startup India,Department for Promotion of Industry and Internal Trade(DPIIT). The programme aims to identify and support aspiring and established women entrepreneurs by providing them access to incubation, investors and various business support services. Kerala Startup Mission(KSUM) along… Continue reading Kerala CM launches capacity development programme for women entrepreneurs
Industry 4.0
News:A Pilot Project for ushering in ‘Industry 4.0’ in the railways has been launched at the Modern Coach Factory (MCF), Raebareli. Facts: About the project: The pilot project would be undertaken under the aegis of “Technology Mission for Indian Railways(TMIR). It would be implemented by a consortium of Ministry of Railways, Ministry of Human Resource… Continue reading Industry 4.0
Prompt Corrective Action (PCA)
What is Prompt corrective action(PCA)? PCA is a framework under which banks with weak financial metrics are put under watch by the RBI. The RBI introduced the PCA framework in 2002 as a structured early-intervention mechanism for banks that become undercapitalised due to poor asset quality, or vulnerable due to loss of profitability. These regulations… Continue reading Prompt Corrective Action (PCA)
Trade and Development Report 2019
News:United Nations Conference on Trade and Development(UNCTAD) has released its Trade and Development Report 2019. Facts: About the report: The report has recommended for the adoption of a unitary taxation system for Multinational Enterprises(MNEs). This approach is needed as the current international corporate taxation norms consider affiliates of MNEs as independent entities and treat taxable… Continue reading Trade and Development Report 2019
World Digital Competitiveness Rankings
News:The World Digital Competitiveness Ranking(WDCR) 2019 report has been released. Facts: About World Digital Competitiveness report: The report has been prepared by the International Institute for Management Development(IMD) World Competitiveness Center. It measures the capacity and readiness of 63 nations to adopt and explore digital technologies as a key driver for economic transformation in business,… Continue reading World Digital Competitiveness Rankings
