Banks have been struggling to meet the target for lending Mudra loans. The government, in Budget 2018-19, had said it intends to disburse loans of up to Rs 3 lakh crore in the current fiscal. However, as on February 22, the total loan disbursed under the Micro Units Development and Refinance Agency Ltd (Mudra) scheme… Continue reading MUDRA: Rs. 1 lac crore more has to be lent
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.
EverSource, NIIF, CDC to invest $330 mn in Ayana Renewable
The National Investment and Infrastructure Fund of India (NIIF) and Eversource Capital have decided to invest in Ayana, the renewable energy platform founded by UK’s development finance institution CDC. EverSource Capital also manages Green Growth Equity Fund (GGEF).NIIF and CDC are limited partners in GGEF. A limited partnership exists when two or more partners unite… Continue reading EverSource, NIIF, CDC to invest $330 mn in Ayana Renewable
Manufacturing PMI at a 14-month high of 54.3 in Feb
According to Nikkei India Services Purchasing Managers’ Index (PMI) data, new work orders,especially international ones,helped propel manufacturing sector activity to a 14-month high of 54.3 after two straight months of contraction. PMI or a Purchasing Managers’ Index (PMI) is an indicator of business activity — both in the manufacturing and services sectors. It is a… Continue reading Manufacturing PMI at a 14-month high of 54.3 in Feb
Development scheme for knitwear sector launched
The Ministry of Textile has launched a comprehensive Scheme for Development of Knitting and Knitwear Sector under PowerTex India. Knitting and knitwear sector is predominantly MSME in size and mainly located in decentralized sector. Knitted fabrics contribute to 27% of the total fabric production in India and 15% of knitted fabric is being exported. The… Continue reading Development scheme for knitwear sector launched
Cabinet Okays National Mineral Policy 2019
The Union Cabinet has approved National Mineral Policy 2019. The policy is aimed at bringing about more effective regulation to the mining sector as well as a more sustainable approach while addressing the issues of those affected by mining. It focuses on Make in India initiative and Gender sensitivity in terms of the vision. National Mineral… Continue reading Cabinet Okays National Mineral Policy 2019
Union Cabinet approves software product policy
The Union Cabinet has approved the National Policy on Software Products 2019. The policy aims to Develop India as a software product nation. It also aims to align with other Government initiatives such as Start-up India, Make in India and Digital India, Skill India etc. so as to create Indian Software products Industry of USD… Continue reading Union Cabinet approves software product policy
Cabinet approves creation of SPV for Air India divestment
The Cabinet has approved the setting up of a special purpose vehicle (SPV) for the disinvestment of Air India and its subsidiaries. Disinvestment is defined as the action of an organisation (or government) selling or liquidating an asset or subsidiary. The name SPV is given to an entity which is formed for a single, well-defined… Continue reading Cabinet approves creation of SPV for Air India divestment
Soon tribals will get MSP for 50 minor forest produce
Union tribal affairs Minister has announced the revision of minimum support price(MSP) framework by 30 to 40% to 50 minor forest produce(MFP).The aim is to enable the tribals dependent on the forest to get a fair price for their produce.MSP is the minimum price set by the Government at which farmers can expect to sell… Continue reading Soon tribals will get MSP for 50 minor forest produce
Rice research body releases 4 climate-smart varieties
The National Rice Research Institute (NRRI), a constituent institute of the Indian Council of Agricultural Research, released four new rice varieties. The four new rice varieties consists of (a) two high-protein rice varieties (CR Dhan 310 and CR Dhan 311) and (b)two climate-smart varieties (CR Dhan 801 and CR Dhan 802).These rice varieties are tolerant… Continue reading Rice research body releases 4 climate-smart varieties
Fiscal deficit in Jan. at 121.5% of full-year target
According to the data released by the Controller General of Accounts, Centre’s fiscal deficit touched 121.5 per cent(7.70 lakh crore) of the budgeted target of Rs 6.34 lakh crore for 2018-19 due to lower revenue collection. Fiscal deficit is the amount of money that the government needs to borrow in a given year because their… Continue reading Fiscal deficit in Jan. at 121.5% of full-year target
