The Wholesale price inflation has increased to 3.18% in March,2019.The rise has been attributed to high food and fuel prices. Wholesale Price Inflation tracks changes in the price of goods in stages before the retail level i.e. goods that are sold in bulk and traded between organizations instead of consumers. It is measured by the… Continue reading WPI inflation spikes to 3.18% in March on costlier food, fuel
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 shifts to net steel importer in 2018-19 fiscal
India has emerged as a net importer of steel for the first time in three years during fiscal year 2019.It became a net importer despite being the second largest steel producer. India’s imports has increased due to (a)demand for better quality of steel in the domestic market and (b)reduced exports due to imposition of tariffs… Continue reading India shifts to net steel importer in 2018-19 fiscal
Drug advisory board proposes stringent norms for medical devices
Drugs Technical Advisory Board (DTAB) has recommended that the Centre should include all medical devices in the country under the Drugs and Cosmetics Act,1940 in a phased manner.Currently,the government regulates 27 notified medical devices under the law. Recommendations of DTAB to the Government are binding in nature.The Health Ministry will now be required to issue… Continue reading Drug advisory board proposes stringent norms for medical devices
Tea Board to discuss industry road map
The Tea Board will organize a ‘Young Entrepreneurs’ Meet’ on April 24. It aims at drawing a future roadmap for tea industry.The meeting will discuss ways to (a)enhance the quality of Indian tea (b)restrict marketing of low quality products and (c)the steps needed to be taken to bring good tea to the market. According to… Continue reading Tea Board to discuss industry road map
High stock of non-performing assets in India, more progress needed: IMF
According to the International Monetary Fund(IMF),the level of non-performing loans in India remains high.IMF has favoured strengthening the level of capitalisation of some banks,particularly government-owned banks. Further,the IMF has said that strengthening the level of capitalisation in banks was one of the recommendations of the Financial Sector Assessment Programme (FSAP) for India. The Financial Sector… Continue reading High stock of non-performing assets in India, more progress needed: IMF
How is Google’s GPay operating without authorisation, Delhi HC asks RBI
The Delhi High Court has asked the Reserve Bank of India (RBI) to explain how Google was operating its payment services in India without taking any approvals or licence from the RBI. Google’s GooglePay uses BHIM unified payments Interface (BHIM UPI) for money transfers. The court’s query has come in the backdrop a plea which… Continue reading How is Google’s GPay operating without authorisation, Delhi HC asks RBI
Commerce ministry asks health ministry to frame law to ban manufacture, sale of e-cigarettes
The commerce ministry has asked the Health Ministry to frame law banning manufacture and sale e-cigarettes in India. This is because unless it is banned under domestic laws, it would not be possible to put a blanket ban on its import as it would violate global trade norms. Earlier, health ministry had asked the commerce… Continue reading Commerce ministry asks health ministry to frame law to ban manufacture, sale of e-cigarettes
India seeks to push reforms,development agenda at WTO
India will be hosting the second informal meeting of trade ministers from about 20 member nations of the World Trade Organization (WTO) on May 13,2019. This meeting assumes significance as several countries are raising questions over the relevance of the WTO.Many countries are also taking protectionist measures which is impacting the global trade. However,India has… Continue reading India seeks to push reforms,development agenda at WTO
India’s gold reserves increase marginally in February: WGC
According to the latest data from World Gold Council (WGC), India has marginally increased its gold holding in February 2019. India’s gold holding increased from 607 tonnes in January to 608.7 tonnes in February. Gold holding is a central banks’ total holding of gold as a percentage of their foreign exchange reserves. Early in March,… Continue reading India’s gold reserves increase marginally in February: WGC
Reserve Bank of India issues norms for banks to set up currency chests
The Reserve Bank of India has come out with guidelines for banks to set up new currency chests. The guidelines issued are (a)New currency chests should include minimum area of 1,500 square feet for strong room/Vault.For those situated in hilly/ inaccessible places,the strong room/ vault area should be at least 600 sq ft (b)The new… Continue reading Reserve Bank of India issues norms for banks to set up currency chests
