The chairman of Plastic Export Promotion Council (Plexconcil) has said that the United States(U.S) decision to terminate India’s designation as a beneficiary country under the Generalized System of Preferences (GSP) programme is likely to affect plastic exports from India. He said some of the product segments which may face a decline in exports to the… Continue reading GSP withdrawal by U.S. likely to affect India’s plastics exports: Plexconcil
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.
Most anti-cancer drugs costly despite price cap, says AIDAN
According to All India Drug Action Network (AIDAN),despite the Government’s decision of price capping of 42 anti-cancer drugs most cancer medicines still remain unaffordable to most Indians because there is no curb on profiteering by pharma manufacturers.Profiteering means unfair profit realized by traders by manipulating prices,tax rate adjustment among others. They have said that the… Continue reading Most anti-cancer drugs costly despite price cap, says AIDAN
Five varieties of Indian coffee awarded GI certification
The Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, has recently awarded Geographical Indication (GI) to five varieties of Indian coffee. Geographical Indications (GI) is an intellectual property right (IPR). It is a status accorded to a good which is unique to a particular region or area, and is originated… Continue reading Five varieties of Indian coffee awarded GI certification
Now, a blockchain enabled marketplace app for coffee
The commerce ministry has launched a blockchain-based coffee e-marketplace app.It will help farmers integrate with markets so that they can realise fair prices for the commodity. Coffee Board is collaborating with Eka Plus,one of the global leaders in Digital Commodity Management platforms for Agriculture for development of the application. The blockchain technology is expected to… Continue reading Now, a blockchain enabled marketplace app for coffee
Plea in court against drug pricing regulator’s move to cap trade margin for cancer medicines
The National Pharmaceutical Pricing Authority (NPPA) decision to cap the maximum trade margin for cancer medicine has been challenged in the Karnataka High Court by a private hospital group. Earlier,National Pharmaceutical Pricing Authority (NPPA) had invoked powers under Drugs (Prices Control) Order, 2013 and brought 42 non-scheduled anti-cancer drugs under price control by capping trade… Continue reading Plea in court against drug pricing regulator’s move to cap trade margin for cancer medicines
MSME networking portal launched
The Telangana government has launched a Micro,SmallandMedium Enterprises(MSME) networking portal called as Telangana State GlobalLinker. The core objective of the portal is to make the business growth of MSMEs simpler,more profitable and enjoyable. The platform will offer a host of benefits to MSME members such as (a)digitisation (b)an e-commerce store and (c)access to business efficiency… Continue reading MSME networking portal launched
New loan pricing scheme may be put off
The Reserve Bank of India(RBI) may extend the deadline for banks to shift to the new loan pricing regime which was scheduled to be implemented from April 1.This new external benchmark rate will be applicable for floating rate loans extended to individuals and small businesses. Earlier,Reserve Bank of India (RBI) had proposed a major change… Continue reading New loan pricing scheme may be put off
Data ownership, a bone of contention
The E-commerce industry has expressed concerns over the draft E-commerce policy proposal that companies should share aggregate data with the government. Recently,Department of Industry and Internal Trade has released the draft National E-commerce Policy.The prime objective of the policy is to prepare and enable stakeholders to fully benefit from the opportunities that would arise from… Continue reading Data ownership, a bone of contention
Cabinet okays creation of additional posts in NCLAT
The Union Cabinet has approved creation of additional posts of 3 Judicial Members and 3 Technical Members in the National Company Law Appellate Tribunal (NCLAT). National Company Law Appellate Tribunal (NCLAT) was constituted under the Companies Act, 2013 for hearing appeals against the orders of (a) National Company Law Tribunal(s) (NCLT) (b)Insolvency and Bankruptcy Board… Continue reading Cabinet okays creation of additional posts in NCLAT
India in pact to ease U.S. firms’ compliance
India and the US has signed an Inter-Governmental Agreement for exchange of Country-by-Country (CbC) reports of multinational companies regarding income allocation and taxes paid to help check cross-border tax evasion.This is a key step in making India compliant with the Base Erosion and Profit Shifting (BEPS) Action 13 report of which India is an active… Continue reading India in pact to ease U.S. firms’ compliance
