Union Minister of Textiles has informed Lok Sabha about the Ambedkar Hastshilp Vikas Yojana(AHVY). The Government had launched the Ambedkar Hastshilp Vikas Yojana (AHVY) in the year 2001-2002. The objective of the scheme is to mobilize the artisans into Self Help Groups and training the groups on various aspects of forming and running the community… Continue reading Ambedkar Hastshilp Vikas Yojana
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.
IBBI amends norms for insolvency resolution process for corporate persons
Insolvency and Bankruptcy Board of India(IBBI) has made several changes to regulations around insolvency resolution process for corporates as well as the liquidation process. The amendments require completion of liquidation process within one year of its commencement notwithstanding the pendency of applications for avoidance transactions. The amendments also specifies a maximum time of 90 days… Continue reading IBBI amends norms for insolvency resolution process for corporate persons
Currency policing should be done by IMF not US:RBI governor Shaktikanta Das
The Reserve Bank of India governor has said that the International Monetary Fund(IMF) should not allow the U.S to bilaterally label countries as currency manipulators. He questioned the US bi-annual report calling out emerging markets for currency manipulation.He said that such labelling should not be a bilateral prerogative when multilateral institutions like the IMF exist.… Continue reading Currency policing should be done by IMF not US:RBI governor Shaktikanta Das
Stable rupee, lower oil prices push forex reserves to all-time high
According to the government data,India’s foreign exchange reserves has reached an all-time high of $430.37 billion till July 19,2019. This surge in the foreign currency reserves was aided by the Recently conducted currency swaps worth $10 billion by the Reserve Bank of India. Further,the inflows have also come on the back of a stable rupee… Continue reading Stable rupee, lower oil prices push forex reserves to all-time high
IT Min meets industry on govt-led ‘cloud economic zone’ plan
Recently,the government has consulted with the industry representatives to understand the potential need for government-led ‘cloud economic zones’. Cloud economic zone are the geographical areas identified for the creation of data storage centres. However, Some industry representatives have expressed security concerns with placing sensitive data in restricted economic zones as this will allow for single… Continue reading IT Min meets industry on govt-led ‘cloud economic zone’ plan
NBFCs with big realty loans must rebalance books: RBI
The Reserve Bank of India(RBI) has asked non-banking finance companies(NBFCs) to bring down their lending to the real estate sector. In the finance sector,the National Housing Bank has also been keeping a watch on lending to real estate sector by finance companies.Banks too have scaled down their lending to this segment. Despite facing a credit… Continue reading NBFCs with big realty loans must rebalance books: RBI
Release of India’s R&D expenditure eco-system report
The Economic Advisory Council to the Prime Minister (EAC-PM) has released a report titled ‘R&D Expenditure Ecosystem’. The report has said that the growth in research and development(R&D) expenditure should be commensurate with the economy’s growth and should be targeted to reach at least 2% of the gross domestic product (GDP) by 2022. The report… Continue reading Release of India’s R&D expenditure eco-system report
Cabinet approves Determination of ‘Fair and Remunerative Price’ of sugarcane payable by sugar mills for 2019-20 sugar season
The Cabinet Committee on Economic Affairs (CCEA) has approved the proposal in respect of Determination of ‘Fair and Remunerative Price’ of sugarcane payable by sugar mills for 2019-20 sugar season. The Cabinet has also approved the creation of buffer stock of 40 lakh Metric Tonnes of sugar for one year from the 1st of next… Continue reading Cabinet approves Determination of ‘Fair and Remunerative Price’ of sugarcane payable by sugar mills for 2019-20 sugar season
PMO asks FinMin to study overseas bond issue
The Prime Minister’s Office(PMO) has asked the finance ministry to reconsider the idea of issuing foreign currency overseas sovereign bonds. Finance Minister in her budget speech had said that India would look to issue overseas foreign currency sovereign bonds. However,the idea has been criticised by economists as they argued that it could create long-term economic… Continue reading PMO asks FinMin to study overseas bond issue
India rises in global innovation ranking
The Global Innovation Index (GII) 2019 has been released. Switzerland has been ranked first in the index. India has improved its ranking by five places to 52nd in 2019 from 57th position in 2018. India has also outperformed on innovation relative to its GDP per capita for nine consecutive years. India has improved its ranking… Continue reading India rises in global innovation ranking
