News:The government has constituted a task force for drawing up National Infrastructure Pipeline of 100 lakh crore rupees from the fiscal year 2019-20 to 2024-25. Facts: The Task Force will be headed by Economic Affairs Secretary. The mandate of the task force is to identify technically feasible and economically viable infrastructure projects that can be… Continue reading Govt sets up a task force for drawing up National Infra Pipeline of Rs 100 lakh cr
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.
CBDT signs 26 advance pricing agreements in April-August
News:The Central Board of Direct Taxes (CBDT) has entered into 26 Advance Pricing Agreements(APAs) in the first 5 months of the financial year (April to August,2019). Facts: About Advance Pricing Agreements(APAs): APA is an agreement between a taxpayer and tax authority determining the transfer pricing methodology for pricing the taxpayer’s international transactions for future years.… Continue reading CBDT signs 26 advance pricing agreements in April-August
Digital Economy Report 2019
News:United Nations Conference on Trade and Development (UNCTAD) has released the Digital Economy Report 2019. Facts: About the report: The report outlines enormous potential gains from the increasingly interconnected global economy but calls for concerted global efforts to spread the wealth potential to the many people who currently reap little benefit from it. The report… Continue reading Digital Economy Report 2019
External benchmark-based lending must: RBI
News:The Reserve Bank of India (RBI) has made it mandatory for banks to link all new floating rate personal or retail loans and floating rate loans to MSMEs to an external benchmark rate from October 1st,2019. Facts: The RBI has given the options to banks for external benchmark rates which are (a) RBI repo rate… Continue reading External benchmark-based lending must: RBI
India among top 10 nations in gold reserves
News: According to the latest release by the World Gold Council, India has ranked 10th in the country list with total gold reserves of 618.2 tonnes. Facts: USA has been ranked 1st with total gold reserves of 8,133.5 tonnes followed by Germany, International Monetary Fund (IMF), Italy, France, Russia and China. Pakistan holds the 45th… Continue reading India among top 10 nations in gold reserves
Task force recommends online loan sale platform
The Reserve Bank of India(RBI) has set up a task force to submit a report on the development of a secondary market for corporate loans.It was headed by T.N. Manoharan. The task force has recommended setting up of a self-regulatory body of participants who would work on creating a platform for secondary sale of corporate… Continue reading Task force recommends online loan sale platform
Panel on fintech submits a final report to FM Nirmala Sitharaman
Government of India has constituted a steering committee on fintech-related issues.The committee has submitted its report to the Ministry of Finance and Corporate Affairs. FinTech stands for financial technology and describes technologically enabled financial innovations.It is applied in financial services to help companies manage the financial aspects of their business including new software and applications,… Continue reading Panel on fintech submits a final report to FM Nirmala Sitharaman
Explained: India will get Swiss bank details of Indians from today. What does this mean?
Recently,Automatic Exchange of Information (AEOI) Regime between India and Switzerland has started from September 1,2019. In 2016,India and Switzerland had signed an information-sharing deal on bank accounts which was to come into effect from September 2019. Automatic exchange of information involves the systematic and periodic transmission of taxpayer information by the source country to the… Continue reading Explained: India will get Swiss bank details of Indians from today. What does this mean?
Explained: What bank mergers can mean, the potential downsides
Recently,the Government has announced a merger of ten public sector banks(PSBs) into four larger entities.This would take the number of banks in the country from 27 in 2017 to 12. The idea of bank mergers had floated since 1998 when the second Narasimham Committee had recommended the government to merge banks. In 2014, PJ Nayak… Continue reading Explained: What bank mergers can mean, the potential downsides
India to become largest importer of coking coal by 2025, says Fitch Solutions
According to a Fitch report,India will overtake China as the largest importer of coking coal by 2025. The report has forecasted that India’s coking coal consumption will grow at an annual average rate of 5.4% between 2019 and 2028 due to robust expansion in steel production in the country. However,China will continue to account for… Continue reading India to become largest importer of coking coal by 2025, says Fitch Solutions
