NITI Aayog CEO has said that a huge set of reforms undertaken by the government has led to the current slowdown in the economy. He said that the reforms undertaken by government includes (a)GST (Goods and Services Tax) (b)IBC (Insolvency and Bankruptcy Code) and (c)RERA(Real Estate Regulatory Authority). He has also advocated a series of… Continue reading Too much of reforms has led to slowdown: NITI Aayog CEO
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 slips to 7th largest economy in 2018: WB
According to World Bank data, India has slipped to the 7th position in the global GDP rankings in 2018. As per earlier data, India was on the 6th position in 2017. India in 2018 had a GDP of $2.5 trillion. US was the largest economy with a GDP of $20.5 trillion in 2018, followed by… Continue reading India slips to 7th largest economy in 2018: WB
Maharashtra hyperloop gets Infrastructure project tag
The Maharashtra state cabinet has approved a proposal to declare the Mumbai-Pune Hyperloop a public infrastructure project to streamline the permissions required. It also approved the consortium of DP World FZE and Hyperloop Technologies Inc as project proponents. It will be executed Pune Metropolitan Regional Development Authority. The hyperloop is an ultra-high-speed ground transport system.… Continue reading Maharashtra hyperloop gets Infrastructure project tag
Explained: Significance of US Federal Reserves rate cut and its impact on India
United States Federal Reserve has announced a quarter percentage point cut in interest rates.It is the first rate cut since the global financial crisis broke in 2008. The Fed has cited concerns about the global economy and lower US inflation among the key reasons for the decision to cut rates and signalled a readiness to… Continue reading Explained: Significance of US Federal Reserves rate cut and its impact on India
Crisil cuts FY20 GDP growth forecast to 6.9% from 7.1%
Credit rating agency Crisil has cut the gross domestic product(GDP) estimate for India to 6.9% from 7.1% in 2019-20. Crisil has said that revision in growth forecast was due to inadequate monsoon,slowing global growth and sluggish high-frequency data for the first quarter. However,the report said that the second half should find support from expected monetary… Continue reading Crisil cuts FY20 GDP growth forecast to 6.9% from 7.1%
India’s manufacturing sector growth inches up to 52.5 in July: PMI
According to Nikkei India Manufacturing Purchasing Managers’ Index (PMI) data, manufacturing activity increased to 52.5 in July,2019 from 52.1 in June,2019. PMI has improved as new work orders and output strengthened leading to moderate increase in employment.Apart from this,a key factor that is aiding sentiment among Indian manufacturers is the expectation of further monetary easing.… Continue reading India’s manufacturing sector growth inches up to 52.5 in July: PMI
What the Bill to curb Ponzi schemes says
The Rajya Sabha has passed the Banning of Unregulated Deposit Schemes Bill, 2019. It seeks to tackle the problem of illicit deposit taking activities in India and protect the interests of depositors. According to the bill, a scheme is unregulated if it is not registered with the regulators listed in the Bill. There are several… Continue reading What the Bill to curb Ponzi schemes says
Atal Innovation Mission (AIM) launches Atal Community Innovation Centre (ACIC) Program
The Union Minister of Petroleum & Natural Gas and Steel has launched the Atal Community Innovation Centre(ACIC) program.This program is a new initiative under Atal Innovation Mission(AIM). The new initiative will aim to encourage the spirit of innovation in the country’s specific areas that lack the required infrastructure and facilitating innovation ecosystem. The purpose of… Continue reading Atal Innovation Mission (AIM) launches Atal Community Innovation Centre (ACIC) Program
Cabinet nod for revised Chit Funds Bill
The Union Cabinet has approved the introduction of the Chit Funds (Amendment) Bill,2019 in Parliament.The bill seeks to amend the Chit Fund Act,1982. The 1982 Act regulates chit funds and prohibits a fund from being created without the prior sanction of the state government. Under a chit fund,people agree to pay a certain amount from… Continue reading Cabinet nod for revised Chit Funds Bill
Start-ups, SMEs write to govt. on equalisation levy
Recently,Domestic Small and medium enterprises(SMEs) and start-ups have written to Revenue Secretary.They have complained about the equalisation levy they have to pay to foreign companies for doing business in India. They have said that this has resulted in increased costs as well as loss of revenue to the government. The equalisation levy was introduced in… Continue reading Start-ups, SMEs write to govt. on equalisation levy
