The Unique Identification Authority of India (UIDAI) has issued the Aadhaar (Pricing of Aadhaar Authentication Services) Regulations 2019. The gazette notification has mandated private organisations using Aadhaar services to pay Rs 20 for each customer verification and 50 paise for authentication of the unique ID. Organizations have been mandated to pay for the service based… Continue reading UIDAI to levy fees for verification
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.
Large hydro projects get ‘renewable energy’ status
The government has introduced a slew of measures for the hydropower sector. The measures come at the time when the share of hydro-power in the total capacity in India has declined from 50.36% in the 1960s to only around 13% in 2018-19. The major measure has been the declaration of large Hydropower Projects (LHPs) as Renewable Energy… Continue reading Large hydro projects get ‘renewable energy’ status
Philip Morris flouted FDI rules in cigarettes
Philip Morris,the world’s largest tobacco company based in Japan has been found circumventing a nine-year-old government ban on foreign direct investment in the tobacco industry, In a bid to curb smoking,the Indian government had banned foreign direct investment on manufacturing in the tobacco sector in 2010.Although,it still allowed tobacco companies to invest through technology collaboration,licensing… Continue reading Philip Morris flouted FDI rules in cigarettes
I-T to assess 80k big cash depositors during demonetisation
The income tax department has ordered ‘best judgement’ assessment of over 80,000 taxpayers who had deposited significant amounts of cash during the demonetisation period but failed to respond to initial notices sent by the income tax (I-T) department and furnish their tax returns for the financial year 2016-17. In other words, the I-T officer is… Continue reading I-T to assess 80k big cash depositors during demonetisation
Wind energy expansion capacity to slow in next five years: CRISIL
A recent report by CRISIL has projected that the wind energy sector in India will record a slow growth in next five years (2019-2023). According to CRISIL, the shift to competitive bidding mechanism has slowed wind energy sector growth due to a significant fall in tariffs. This has consequently resulted in a decline in bid… Continue reading Wind energy expansion capacity to slow in next five years: CRISIL
Insurers must use judgment while investing, says IRDAI
Insurance regulatory Development Authority of India(IRDAI) has advised companies to not just rely on the credit ratings for their investments. The advice came after several insurers had invested in entities like IL&FS based on the credit ratings assigned to its debt instruments. The Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous,statutory body… Continue reading Insurers must use judgment while investing, says IRDAI
Reliance Infrastructure Limited wins bid for greenfield airport in Rajkot for ₹ 648 crore
Reliance Infrastructure has bagged a contract from the Airport Authority of India to build a recently approved Greenfield airport at Hirasar,in Rajkot district of Gujarat.It had applied for a tender under Engineering,Procurement and Construction(EPC) model. A greenfield airport is one which is not constrained by prior work.It is constructed on unused land where there is… Continue reading Reliance Infrastructure Limited wins bid for greenfield airport in Rajkot for ₹ 648 crore
Higher capital adequacy for HFC’s muted
National Housing Bank (NHB),regulator of Housing finance companies(HFC’s) has proposed to increase the capital adequacy ratio of housing finance companies (HFCs) HFC’s to 15% in a phased manner.The proposed norms are being issued in the wake of liquidity problem being faced by HFCs after IL&FS crisis. As per the proposed roadmap,HFCs have to increase minimum… Continue reading Higher capital adequacy for HFC’s muted
Tariff hike to hit exports to U.S.
The US has announced its decision to terminate India’s designation as a beneficiary of its Generalized System of Preferences (GSP). This decision comes in the backdrop of US having concerns over a range of issues like (a) India’s new rules on e-commerce that affected firms such as Amazon and Walmart (b) Data localisation rules which… Continue reading Tariff hike to hit exports to U.S.
‘Airlines to hire 1.9 lakh by 2028’
Centre for Asia Pacific Aviation (CAPA) India has projected that the airline industry in India would hire an additional 1.09 lakh employees by 2028. CAPA is an aviation consulting and research firm. The categories expected to record the fastest growth are a) aircraft maintenance, b) customs, c) immigration and quarantine, d) fire safety, e) security,… Continue reading ‘Airlines to hire 1.9 lakh by 2028’
