Commerce and Industry minister has met industry bodies to review issues that India would need to keep in mind when continuing deliberations on the Regional Comprehensive Economic Partnership (RCEP) in China. The associations has said that industries are apprehensive of India signing RCEP because of fears that China will use it to enter and dominate… Continue reading Piyush Goyal holds ‘marathon’ of consultations with industry players ahead of RCEP meet
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.
India will achieve 8% plus growth from FY 2020-2021 onwards: NITI Aayog Vice-Chairman
NITI Aayog Vice Chairman has said that India will achieve economic growth of 8% plus from fiscal year 2020-2021. This growth will be achieved as foundation has been laid and the transformation has begun with the passing of structural reforms like the Goods and Services Tax and Insolvency and Bankruptcy Code. He also emphasised that… Continue reading India will achieve 8% plus growth from FY 2020-2021 onwards: NITI Aayog Vice-Chairman
Govt. must reduce borrowing by divesting stake in PSEs: Acharya
According to Reserve Bank of India Deputy Governor,an increase in government borrowing runs the risk of flooding the debt market which will make it expensive for companies to borrow. He said that the disinvestment in public sector enterprises(PSEs) would help in alleviating the effects of the government’s borrowing in the country. He also said serious… Continue reading Govt. must reduce borrowing by divesting stake in PSEs: Acharya
Kerala to set up nation’s first Space Systems Park
The Kerala government will set up the country’s first Space Systems Park at the upcoming Knowledge City in Thiruvananthapuram, kerala.The project will be implemented by the State Government’s Electronics and IT Department. The facility will seek to attract global start-ups working in the space sector and also make it as a major manufacturing hub for… Continue reading Kerala to set up nation’s first Space Systems Park
Government to roll out big push for infrastructure
India has decided to organize an annual global investors meet in the country similar to the World Economic Forum(WEF) in Davos. The idea for holding a summit is being mooted at a time the government is looking to attract more investments from overseas.This will spur economic growth and generate more jobs. India also wants to… Continue reading Government to roll out big push for infrastructure
Overseas bonds: Major advantages in raising long term funds, says NITI VC Rajiv Kumar
Finance Minister has announced in the Budget that it plans to raise a portion of its gross borrowing from overseas markets using sovereign bonds. A government bond or sovereign bond is a form of debt that the government undertakes wherein it issues bonds with the promise to pay periodic interest payments and also repay the… Continue reading Overseas bonds: Major advantages in raising long term funds, says NITI VC Rajiv Kumar
Railway roadmap: Govt to invite private players to run routes
The government has laid out a blueprint for a substantial boost in India’s infrastructure.A key element of that is the upgrade of Indian Railways. However,the Finance Minister has accepted that the government did not have the fiscal space to make the kind of heavy investments that are required to modernise the Railways. As modernising railways… Continue reading Railway roadmap: Govt to invite private players to run routes
Modi 2.0 sets fast pace in 1st 50 days: Report card
The government has underlined its priorities in the first 50 days of its second term.It has aimed towards making India a $5 trillion economy and hitting the ground running on spurring growth. The Union Budget has outlined the roadmap for the $5trillion economy and doubling the farmer’s income. The budget talked of (a)electric vehicles (b)mission… Continue reading Modi 2.0 sets fast pace in 1st 50 days: Report card
Govt. in talks with foreign lenders for loans to SMEs
The Indian government is in talks with foreign lenders to provide credit to millions of small and medium enterprises(SME). This step is being taken after state owned banks have not been able to drive increased lending because they are burdened with more than $145 billion in bad loans.This has led to a severe credit squeeze… Continue reading Govt. in talks with foreign lenders for loans to SMEs
Simplify procedures to attract vendors: Piyush Goyal to GeM officials
Commerce and Industry Minister has asked officials of the Government e-Marketplace(GeM) to simplify the public procurement portal’s procedures. The government aims to achieve Rs 1 lakh crore in GeM’s gross merchandise volume in 2019-20. The minister has suggested measures such as (a)incentives for ministries procuring products and services through GeM (b)bringing in technical experts for… Continue reading Simplify procedures to attract vendors: Piyush Goyal to GeM officials
