The Finance Minister has said that Foreign Direct Investment(FDI) inflows into India have remained robust despite global headwinds. She stated that according to UNCTAD’s World Investment Report 2019. India’s FDI inflows in 2018-19 remained strong at US$ 64.375 billion marking a 6% growth over the previous year. She has also proposed a 100% foreign direct… Continue reading Budget Briefs: Foreign Direct Investment (FDI)
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.
Budget Briefs:Agriculture
Finance Minister has said that the government will invest widely in agriculture infrastructure and support private entrepreneurship for value addition in farm sector. The government has also proposed a Pradhan Mantri Matsya Sampada Yojana(PMMSY) to establish a robust fisheries management framework and check gaps in the value chain. The government has proposed to increase budget… Continue reading Budget Briefs:Agriculture
Budget Briefs: Government to push ‘One Nation One Card’ to enable seamless mobility
In the Budget speech,the finance minister has hailed the benefits that were provided by National Common Mobility Card(NCMC). National Common Mobility Card (NCMC) also known as One Nation One Card is an inter-operable transport card conceived by the Ministry of Housing and Urban Affairs of the Government of India. The transport card enables the user… Continue reading Budget Briefs: Government to push ‘One Nation One Card’ to enable seamless mobility
Budget Briefs:Government proposes creation of a social stock exchange
Finance Minister has announced the setting up of a Social Stock Exchange(SSE) under the Securities and Exchange Board of India(SEBI) for listing of organisations which work for social welfare. The minister said that the exchange would help social and voluntary organisations which work for social causes to raise capital as equity or debt or a… Continue reading Budget Briefs:Government proposes creation of a social stock exchange
Budget Briefs:Stand-Up India Scheme extended till 2025
Union Minister has said that the Stand Up India Scheme has been extended up to the year 2025. Stand-Up India Scheme Facilitates bank loans between 10 lakh and 1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe(ST) borrower and at least one woman borrower per bank branch for setting up a greenfield… Continue reading Budget Briefs:Stand-Up India Scheme extended till 2025
Budget Briefs: RBI can supersede NBFC board
The government has decided to strengthen regulatory authority of Reserve Bank of India (RBI) over non-banking financial companies (NBFCs). Finance Minister has said that the RBI will now be the regulator of Housing finance companies(HFC) replacing the National Housing Bank(NHB). According to the Finance Bill,2019,RBI can now remove the director of an NBFC and even… Continue reading Budget Briefs: RBI can supersede NBFC board
Budget Briefs:Taxation
Corporate Tax: The lower rate of 25 % Corporate Tax will be extended to all companies with annual turnover up to Rs. 400 crore.Currently,this rate is only applicable to companies having annual turnover up to Rs. 250 crore.This will cover 99.3 percent of the companies. Pre-filing of Income-tax Returns: Pre-filled tax returns will be made… Continue reading Budget Briefs:Taxation
Budget Briefs: Growth capital for public sector banks
Finance Minister in the Budget 2019 speech has announced that the public sector banks(PSBs) will be provided with a capital infusion of Rs 70,000 crore. This bank recapitalisation is aimed at bolstering the capital base of the state-owned banks.It will also give a much-needed boost to the stressed banks who are under pressure owing to… Continue reading Budget Briefs: Growth capital for public sector banks
Budget Briefs: A shot in the arm for struggling MSMEs
Presenting the Budget 2019-20,the finance minister has unveiled a slew of initiatives and new provisions to tackle issues related to the Micro, Small and Medium Enterprises(MSME) sector in the country. The Finance Minister has announced that Rs 350 Crore will be allocated for 2% interest subvention for all GST registered MSMEs on fresh and incremental… Continue reading Budget Briefs: A shot in the arm for struggling MSMEs
Budget Briefs: Fiscal deficit target revised downwards to 3.3%
Finance Minister has announced the fiscal deficit target for 2019-20 at 3.3% of GDP from 3.4% set in the Interim Budget presented on February 1, 2019. Fiscal deficit is the amount of money that the government needs to borrow in a given year because their expenses were more than their revenues. The main reason for… Continue reading Budget Briefs: Fiscal deficit target revised downwards to 3.3%
