The Reserve Bank of India(RBI) is expected to come up with a mechanism for e-commerce marketplaces to submit their reports proving compliance with the FDI guidelines. According to the FDI norms by the Department for Promotion of Industry and Internal Trade (DPIIT),an e-commerce marketplace entities are required to furnish a certificate along with a report… Continue reading Compliance of FDI norms: RBI to unveil report submission mechanism soon
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.
WPI inflation eases to near two-year low
According to government data,wholesale price-based inflation has reached a 2 year low of 2.02% in June,2019. This decline comes on the back of reduced inflation in the prices of manufactured products as well as a drop in the prices of fuel and power sources. However,RBI has projected upward in food inflation in the near term… Continue reading WPI inflation eases to near two-year low
Govt to look at applicability of 20% tax on ongoing share buyback issues
The Finance Ministry has said that it will look into the applicability of 20% tax proposed in the 2019-20 Budget on the current share buybacks by listed companies. This tax was proposed in the budget to discourage the practice of avoiding Dividend Distribution Tax(DDT) through buybacks by listed companies. Dividend Distribution Tax(DDT) is paid by… Continue reading Govt to look at applicability of 20% tax on ongoing share buyback issues
Fourth anniversary of Skill India Mission being observed today
The fourth anniversary of the Skill India Mission is being observed on the occasion of World Youth Skills Day. The United Nations had declared 15 July as World Youth Skills Day.This day is celebrated to promote youth skills development and abilities. The theme for World Youth Skills Day 2019 is ‘Learning to learn for life… Continue reading Fourth anniversary of Skill India Mission being observed today
DPIIT to soon float draft national retail policy to seek stakeholders’ views
The Department for Promotion of Industry and Internal Trade(DPIIT) will soon introduce draft national retail policy.The policy is aimed at promoting growth of 65 million small traders. The main elements of the policy includes (a)promoting ease of doing business (b)licensing (c)access to funds (d)direct selling and (e)hyper-market related matters. This policy is expected to cover… Continue reading DPIIT to soon float draft national retail policy to seek stakeholders’ views
Tribal SHG women create an organic agro revolution
Recently,a self-help group of tribal women in Wayanad,Kerala has decided to launch a project to carry out organic farming over 100 acres possibly making this the largest tribal foray into organic farming. The members of this group were guided to organic farming by the Krishi Vigyan Kendra(KVK) under the Kerala Agricultural University (KAU). Organic farming… Continue reading Tribal SHG women create an organic agro revolution
Govt eyes direct transfer of fertilizer subsidy
The government has been preparing to move on a proposal for direct cash transfer(DBT) of fertilizer subsidy amount to farmers bank accounts. This proposal is aimed at disincentivizing farmers from excessive use of chemical fertilizers. The funds transferred will be used only for buying soil nutrients while two options are being explored to decide the… Continue reading Govt eyes direct transfer of fertilizer subsidy
Govt readies plan for second wave of asset monetisation
Government will soon recommend a second list of Public Sector Units (PSU) assets that could be monetised to raise resources for fresh investment by these undertakings. The Union Budget 2019 has set a high target of Rs 1.05 lakh crore from disinvestment for the current fiscal year compared with Rs 90,000 crore in the Interim… Continue reading Govt readies plan for second wave of asset monetisation
Why is India opting for overseas bonds?
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 Why is India opting for overseas bonds?
International Cooperation Scheme
The Ministry of Micro,Small and Medium Enterprises (MSME) is implementing International Cooperation(IC) Scheme. The objectives of the scheme are (a)technology infusion and upgradation of Indian MSMEs (b)modernisation of MSMEs and (c)promotion of the exports of MSMEs. The scheme can be availed by (a)Central or State Government Organisations (b)Enterprise of Industry Associations and (c)registered societies or… Continue reading International Cooperation Scheme
