Union Minister has said that the reports about high unemployment rate in the country are misleading and asserted that employment generation is the priority of the government. This statement came after NSSO report showed that unemployment rate across the country stood at 6.1%,the highest since 1972-73.It also showed that joblessness was higher in urban India… Continue reading Unemployment reports are misleading:Union Minister
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.
Single rate GST not possible in a country with poor people, says Arun Jaitley
Former Finance Minister has said that India can have two slabs for the Goods and Services Tax(GST) but dismissed the possibility of a single rate. He said that single GST slab would be possible only in extremely affluent countries where there are no poor people.It would be inequitable to apply a single rate in countries… Continue reading Single rate GST not possible in a country with poor people, says Arun Jaitley
Cooperative helps take tribal crafts to Amazon’s global marketplace
The Tribal Cooperative Marketing Federation (TRIFED) has signed an agreement to partner with the e-commerce company Amazon’s Global Selling Programme. The agreement will allow showcasing and sell of India’s tribal crafts at Amazon’s global marketplace. The Tribal Cooperative Marketing Development Federation of India (TRIFED) was established in 1987. It is a national-level apex organization functioning… Continue reading Cooperative helps take tribal crafts to Amazon’s global marketplace
Government plans cow circuit to boost tourism
The Rashtriya Kamdhenu Aayog has decided to establish a cow circuit to encourage cow tourism in India. The cow circuit will pass through places in the country that breed indigenous cows. The Rashtriya Kamdhenu Aayog has identified the states of Haryana, Uttar Pradesh, Rajasthan, Maharashtra, Karnataka, Kerala and Goa for the cow circuit. At these… Continue reading Government plans cow circuit to boost tourism
Centre to celebrate two years of GST
To mark two years of GST implementation on 1st July 2019,the Finance Ministry has unveiled a new return filing mechanism besides a host of other reforms to simplify the indirect tax system. The finance minister has also said that GST has led to (a)Simplified Tax Structure (b)Easy Compliance (c)Seamless flow of tax credit and (d)creation… Continue reading Centre to celebrate two years of GST
Procedural concerns in focus as GST enters third year
The Goods and Services Tax(GST) has completed two years on July 1,2019. The introduction of GST was a game changer for the Indian economy as it has replaced multi-layered,complex indirect tax structure with a simple ,transparent and technology-driven tax regime. During the last two years,the government has brought in various changes both on the quantum… Continue reading Procedural concerns in focus as GST enters third year
Budget may unveil a national warehousing grid to plug key gaps, Maharashtra model
The Centre is likely to announce a scheme for an integrated warehousing network in the Budget,2019. The aim of the scheme will be to operationalise a national warehousing grid’ to effectively integrate the highly fragmented warehousing market in India. The scheme is likely to be similar to Maharashtra where the government has kicked off a… Continue reading Budget may unveil a national warehousing grid to plug key gaps, Maharashtra model
New GST return filing system from October 2019
Government will be releasing a new return filing mechanism under Goods and Service Tax(GST). This will be rolled out from October, 2019 for big businessmen and from January, 2020 for small businessmen. The traders/businessmen having zero transactions or nil filers could now file returns through SMS. For those dealing with business to consumer with an… Continue reading New GST return filing system from October 2019
Low oil price, food supply kept inflation low:Viral Acharya
The outgoing deputy governor of RBI has credited flexible inflation targeting,low crude prices and efficient food supply management for successful taming of inflation in recent years. The RBI has shifted to a flexible inflation targeting with a headline target of 4 percent(+/- 2 percent) when the Monetary Policy Committee (MPC) was instituted in 2016. He… Continue reading Low oil price, food supply kept inflation low:Viral Acharya
India pitches strongly for fight against fugitive economic offenders
India has pitched strongly to deal with fugitive economic offenders at the G20 summit in Osaka,Japan. India has said that all countries should come together to deal with economic offenders escaping to other geographies to get away with their crimes. In 2018,India has passed the Fugitive Economic Offenders Act.The act seeks to confiscate properties and… Continue reading India pitches strongly for fight against fugitive economic offenders
