India has listed out the demands and raised specific bilateral trade issues with proposed Regional Comprehensive Economic Partnership (RCEP) member countries. India has said that it will agree to the proposed RCEP pact only if partner countries like China resolve its trade deficit with India by providing more market access. India has said that it… Continue reading RCEP negotiations: India lists out demands before China for market access
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.
Parliament passes Airports Economic Regulatory Authority of India, (Amendment) Bill – 2019
The Parliament has passed the Airports Economic Regulatory Authority of India, (Amendment) Bill, 2019. The bill amends the Airports Economic Regulatory Authority of India Act, 2008. The Act established the Airports Economic Regulatory Authority of India (AERA). The AERA regulates tariffs and other charges for aeronautical services provided at civilian airports with annual traffic above… Continue reading Parliament passes Airports Economic Regulatory Authority of India, (Amendment) Bill – 2019
Elected directors in PSBs will be appointed by board: RBI
The Reserve Bank of India has come out with the ‘Fit and Proper’ Criteria for Elected Directors on the Boards of PSBs Directions,2019. The directions mandates that banks are required to constitute a Nomination and Remuneration Committee(NRC) consisting of a minimum of three non-executive directors from amongst the board of directors. An elected director shall… Continue reading Elected directors in PSBs will be appointed by board: RBI
India to conduct 1st National Time Release Study
Department of Revenue under Union Ministry of Finance is conducting India’s 1st National Time Release Study(TRS).The exercise is being conducted as a part of its strategic commitment to improve global trade. The exercise will be conducted at the same time across 15 ports including sea,air,land and dry ports which cumulatively account for 81% of total… Continue reading India to conduct 1st National Time Release Study
Affordable housing gets a ₹10,000-crore booster
The National Housing Bank(NHB) has decided to infuse an additional Rs 10,000 crore into housing finance companies(HFCs) to improve liquidity in the sector. This move would enable the HFCs to provide individual loans for affordable housing. The government has also approved the budget proposal on one-time partial credit guarantee to public sector banks for purchase… Continue reading Affordable housing gets a ₹10,000-crore booster
‘Slowdown evident, may be temporary’
HDFC Chairman has said that the economic slowdown in India which has been due to weakness in consumption demand is temporary in nature and will pick up at the onset of the festive season. According to data released by the Central Statistics Office (CSO),India’s quarterly GDP growth has declined to 5.8% in the January-March 2019… Continue reading ‘Slowdown evident, may be temporary’
Too much of reforms has led to slowdown: NITI Aayog CEO
NITI Aayog CEO has said that a huge set of reforms undertaken by the government has led to the current slowdown in the economy. He said that the reforms undertaken by government includes (a)GST (Goods and Services Tax) (b)IBC (Insolvency and Bankruptcy Code) and (c)RERA(Real Estate Regulatory Authority). He has also advocated a series of… Continue reading Too much of reforms has led to slowdown: NITI Aayog CEO
India slips to 7th largest economy in 2018: WB
According to World Bank data, India has slipped to the 7th position in the global GDP rankings in 2018. As per earlier data, India was on the 6th position in 2017. India in 2018 had a GDP of $2.5 trillion. US was the largest economy with a GDP of $20.5 trillion in 2018, followed by… Continue reading India slips to 7th largest economy in 2018: WB
Maharashtra hyperloop gets Infrastructure project tag
The Maharashtra state cabinet has approved a proposal to declare the Mumbai-Pune Hyperloop a public infrastructure project to streamline the permissions required. It also approved the consortium of DP World FZE and Hyperloop Technologies Inc as project proponents. It will be executed Pune Metropolitan Regional Development Authority. The hyperloop is an ultra-high-speed ground transport system.… Continue reading Maharashtra hyperloop gets Infrastructure project tag
Explained: Significance of US Federal Reserves rate cut and its impact on India
United States Federal Reserve has announced a quarter percentage point cut in interest rates.It is the first rate cut since the global financial crisis broke in 2008. The Fed has cited concerns about the global economy and lower US inflation among the key reasons for the decision to cut rates and signalled a readiness to… Continue reading Explained: Significance of US Federal Reserves rate cut and its impact on India
