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
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.
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
IIP dips to 3.1% in May on slowdown
India’s Index of industrial production(IIP) has slowed down to 3.1% in May,2019.The IIP was 4.3% in April,2019. This decline has happened due to slowdown in manufacturing and mining sector. However,IIP growth remained stable due to improvement in the growth of electricity generation and fast moving consumer goods sector. IIP measures industrial output growth.The IIP is… Continue reading IIP dips to 3.1% in May on slowdown
High food prices push retail inflation to eight-month high of 3.18% in June
According to the data released from the Central Statistics Office(CSO), retail inflation has reached an eight-month high of 3.18% in June,2019. This is mainly due to costlier food items.As per the data,Inflation in the food basket rose to 2.17% in June,2019 up from 1.83% in May 2019. Retail inflation is based on the Consumer Price… Continue reading High food prices push retail inflation to eight-month high of 3.18% in June
Payment service providers fear shutdown,ask govt to pay MDR
Payment Council of India(PCI) has said that the budget proposal to remove the merchant discount rate(MDR) will lead to the collapse of the payment acquiring industry. MDR is a fee charged from a merchant by a bank for accepting payments from customers through credit and debit cards in their establishments. Currently,there is a provision to… Continue reading Payment service providers fear shutdown,ask govt to pay MDR
Kerala to set up investment firm for NRIs
Kerala has announced its plan to set up a diaspora investment company known as NRK Investment and Holding Company. The company will have a 74% stake of non-resident Keralites and a 26% government stake. This objective of the company will be fund infrastructure projects and NRI townships in the state.The projects planned under ‘Rebuild Kerala’… Continue reading Kerala to set up investment firm for NRIs
Cabinet approves bill to put brakes on chit funds
The Union Cabinet has approved the Banning of Unregulated Deposit Schemes Bill.The bill aims to tackle the menace of illicit deposit- taking activities in the country. The bill defines regulated deposits as all deposit-taking schemes which are overseen and regulated by regulators like (a)Reserve Bank of India (RBI) (b)Securities and Exchange Board of India (SEBI)… Continue reading Cabinet approves bill to put brakes on chit funds
Worker safety code Bill gets Cabinet approval
The Union Cabinet has approved a proposed Code on Occupational Safety,Health and Working Conditions Bill,2019.The bill seeks to merge 13 central labour laws into a single code. The code will be applicable to all trades including IT establishments and service sector where more than 10 workers are employed.It will also be applicable to mines and… Continue reading Worker safety code Bill gets Cabinet approval
