According to the International monetary fund(IMF) “Annual Observance Report of the Special Data Dissemination Standard for 2018”,India has failed to comply with multiple requirements prescribed in the Special Data Dissemination Standard (SDDS). The IMF launched the SDDS initiative in 1996 to guide members to enhance data transparency and help financial market participants with adequate information… Continue reading IMF report flags several delays in India’s data reporting
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.
CVC sets up panel to probe bank fraud
The Central Vigilance Commission(CVC) has constituted Advisory Board for Banking Frauds (ABBF).The four-member board will be headed by former Vigilance Commissioner T M Bhasin. The board will function as the first level of examination of all large fraud cases before recommendations or references are made to the investigative agencies by the respective Public Sector Banks. … Continue reading CVC sets up panel to probe bank fraud
FM’s announcement may help revive investor confidence, boost markets
Finance minister had announced a number of economic measures to revive economic growth through fiscal stimulus. These measures were announced in the backdrop of (a)domestic and global growth concerns (b)weakening demand for India companies and (c)the threat of escalation of tariff war between US and China. The steps announced were such as (a)removing enhanced surcharge… Continue reading FM’s announcement may help revive investor confidence, boost markets
Centre responds to downturn with steps to boost growth
Government has announced a number of economic measures which seeks to revive economic growth through fiscal stimulus. These measures were brought in the backdrop of the economic slowdown in India.The measures announced are:- The surcharge announced in the budget on Foreign Portfolio Investors (FPIs) has been withdrawn.This will check the outflow of FPI from India.… Continue reading Centre responds to downturn with steps to boost growth
Development financial institution to fund infrastructure
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
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
