Government has released the draft National Logistics Policy. The policy has been prepared by the Ministry of Commerce and Industry in consultation with the Ministries of Railways,Road Transport and Highways,Shipping and Civil Aviation. The aim of the policy is to reduce the logistics cost from the present 14% of GDP to less than 10% by… Continue reading Draft policy on logistics ignores express industry
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.
National Entrepreneurship Awards,2019
Ministry of Skills Development and Entrepreneurship has announced the fourth edition of National Entrepreneurship Awards,2019. The awards has been instituted in a bid to recognize and encourage outstanding Indian Entrepreneurs and catalyse a cultural shift in youth for entrepreneurship. The award aims to honour outstanding young first generation entrepreneurs and ecosystem builders for their exceptional… Continue reading National Entrepreneurship Awards,2019
Shri Arjun Munda inaugurates ‘National Workshop on Tribal Enterprise with focus on Honey, Bamboo & Lac’
Union Minister for Tribal Affairs has inaugurated a “National Workshop on Tribal Enterprise with focus on Honey, Bamboo and Lac”. During the workshop,the union minister released the reports on (a) Bamboo and Bamboo Nomics (b) Lac and (c) Honey. India is the world’s second largest cultivator of bamboo after China. According to the data,India’s annual… Continue reading Shri Arjun Munda inaugurates ‘National Workshop on Tribal Enterprise with focus on Honey, Bamboo & Lac’
‘FPI tax issues put divestment at risk’
The government may miss its disinvestment target of ₹1.05 lakh crore that has been set for the current financial year.Disinvestment is defined as the action of an organisation or government selling or liquidating an asset or subsidiary. The target may be missed as foreign portfolio investors(FPIs) could stay away from such share sales if the… Continue reading ‘FPI tax issues put divestment at risk’
Finance minister to review jail term clause for non-compliance of CSR
Finance Minister has assured the industry that the government would review the criminal penal provisions on corporate social responsibility (CSR). The amendments to the Companies Act have empowered the government to put the concerned officers in jail for up to three years, besides imposing monetary fines if they do not adhere to CSR norms. The… Continue reading Finance minister to review jail term clause for non-compliance of CSR
Industrial production growth slips to 2% in June
India’s Index of industrial production(IIP) has slowed down to 2% in June,2019. The growth was pulled down by a sharp decline in the output of mining and manufacturing sectors. IIP measures industrial output growth.The IIP is an index which details out the growth of various sectors in an economy such as mineral mining, electricity and… Continue reading Industrial production growth slips to 2% in June
Home buyers can start bankruptcy cases against errant builders
The Supreme Court has upheld the amendments made to the Insolvency and Bankruptcy Code(IBC) that classified homebuyers as financial creditors. The verdict came on a petition filed by builders who had challenged the IBC amendment citing that it would result in duplication as the homebuyers have already been given protection under Real Estate Regulation and… Continue reading Home buyers can start bankruptcy cases against errant builders
UNIDO and National Institute of Solar Energy to partner for skill development program
National Institute of Solar Energy(NISE) and the United Nations Industrial Development Organization(UNIDO) has signed an agreement to initiate a skill development programme for different levels of beneficiaries in the solar thermal energy sector. NISE and UNIDO will engage with the national and international experts to bring the best practices by developing specialized training material. This… Continue reading UNIDO and National Institute of Solar Energy to partner for skill development program
Linking farmers with futures market can benefit both
Recently,Indian Council for Research on International Economic Relations(ICRIER) has recommended the government to empower farmer producer organisations(FPOs) to trade in the commodities futures market. This was suggested as the government in the Budget has proposed to create 10,000 new farmer producer organisations(FPOs) in the next five years. Farmers Producer Organisation(FPO) also known as farmers producer… Continue reading Linking farmers with futures market can benefit both
RBI task force against Indian banks dealing in offshore NDF rupee market
The Reserve Bank of India(RBI) had set up an eight member committee on offshore rupee market.The committee was headed by Usha Thorat.It has submitted its report to the RBI Governor. The committee was set up to examine offshore rupee markets in depth and recommend appropriate policy measures that also factor in the requirement of ensuring… Continue reading RBI task force against Indian banks dealing in offshore NDF rupee market
