A joint venture company Khanij Bidesh India limited(KABIL) has been set up with the participation of three Central Public Sector Enterprises (CPSEs). These CPSEs are National Aluminium Company Ltd.(NALCO), Hindustan Copper Ltd.(HCL) and Mineral Exploration Company Ltd. (MECL). The objective of the company is to ensure a consistent supply of critical and strategic minerals to… Continue reading KABIL set up to ensure supply of critical Minerals to Indian domestic market
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.
Govt set to frame rules for ride-hailing firms
The Motor Vehicles (Amendment) Bill, 2019 has created a new category of cab aggregators by addressing some of these issues. The bill recognizes and defines aggregators as digital intermediaries or marketplaces which can be used by passengers to connect with a driver for transportation. The central government will soon meet all stakeholders in the industry… Continue reading Govt set to frame rules for ride-hailing firms
Rs 25,000 crore tenders cancelled or modified to promote Make in India products
Department for Promotion of Industry and Internal Trade(DPIIT) has cancelled or modified government tenders worth over Rs 25,000 crore. This decision was taken to change the conditions of the tenders in order to promote ‘Make in India’ goods. Further,the tenders were cancelled as they had certain restrictive conditions which were discriminatory against domestic manufacturers and… Continue reading Rs 25,000 crore tenders cancelled or modified to promote Make in India products
SANKALP Scheme
Union Minister of Skill Development & Entrepreneurship has reviewed the Skills Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP). SANKALP is an outcome-oriented programme of Ministry of Skills Development & Entrepreneurship(MSDE) with a special focus on decentralised planning and quality improvement. The project is a Centrally Sponsored Scheme and is implemented in mission mode through… Continue reading SANKALP Scheme
RCEP negotiations: India lists out demands before China for market access
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
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’
