The agriculture ministry has developed a farm equipment rental app for Indian farmers called Uber for tractors. The app will allow the farmers to hire tractors, rotavator and other farm related machinery on rent for with flexible tenure. The farmers who wish to hire equipment can register using their names, addresses and mobile numbers and… Continue reading ‘Uber for tractors’: Government to launch app to aid farmers
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.
FM Sitharaman meets realtors, homebuyers; govt to tackle liquidity issues, stalled projects
Finance minister has interacted with the industry representatives to understand measures required to remove friction points in the economy. The measures are aimed at ensuring easy availability of funds to productive sectors and stimulate overall growth. The real estate sector has also flagged their concerns regarding the ongoing liquidity crunch,demand slowdown and problem of stalled… Continue reading FM Sitharaman meets realtors, homebuyers; govt to tackle liquidity issues, stalled projects
Certification of seeds to be made mandatory to step up farm output
The Union Government is planning to mandate uniform certification of seed by amending the Seeds Act,1966. This decision was taken as more than half of all seeds sold by private companies in India are not certified by any proper testing agency. The Centre also hopes to roll out a software to barcode seeds in order… Continue reading Certification of seeds to be made mandatory to step up farm output
Draft policy on logistics ignores express industry
Government has released the draft National Logistics Policy. The policy has been prepared by the Ministry of Commerce and Industry in consultation with the Ministries of Railways,Road Transport and Highways,Shipping and Civil Aviation. The aim of the policy is to reduce the logistics cost from the present 14% of GDP to less than 10% by… Continue reading Draft policy on logistics ignores express industry
National Entrepreneurship Awards,2019
Ministry of Skills Development and Entrepreneurship has announced the fourth edition of National Entrepreneurship Awards,2019. The awards has been instituted in a bid to recognize and encourage outstanding Indian Entrepreneurs and catalyse a cultural shift in youth for entrepreneurship. The award aims to honour outstanding young first generation entrepreneurs and ecosystem builders for their exceptional… Continue reading National Entrepreneurship Awards,2019
Shri Arjun Munda inaugurates ‘National Workshop on Tribal Enterprise with focus on Honey, Bamboo & Lac’
Union Minister for Tribal Affairs has inaugurated a “National Workshop on Tribal Enterprise with focus on Honey, Bamboo and Lac”. During the workshop,the union minister released the reports on (a) Bamboo and Bamboo Nomics (b) Lac and (c) Honey. India is the world’s second largest cultivator of bamboo after China. According to the data,India’s annual… Continue reading Shri Arjun Munda inaugurates ‘National Workshop on Tribal Enterprise with focus on Honey, Bamboo & Lac’
‘FPI tax issues put divestment at risk’
The government may miss its disinvestment target of ₹1.05 lakh crore that has been set for the current financial year.Disinvestment is defined as the action of an organisation or government selling or liquidating an asset or subsidiary. The target may be missed as foreign portfolio investors(FPIs) could stay away from such share sales if the… Continue reading ‘FPI tax issues put divestment at risk’
Finance minister to review jail term clause for non-compliance of CSR
Finance Minister has assured the industry that the government would review the criminal penal provisions on corporate social responsibility (CSR). The amendments to the Companies Act have empowered the government to put the concerned officers in jail for up to three years, besides imposing monetary fines if they do not adhere to CSR norms. The… Continue reading Finance minister to review jail term clause for non-compliance of CSR
Industrial production growth slips to 2% in June
India’s Index of industrial production(IIP) has slowed down to 2% in June,2019. The growth was pulled down by a sharp decline in the output of mining and manufacturing sectors. IIP measures industrial output growth.The IIP is an index which details out the growth of various sectors in an economy such as mineral mining, electricity and… Continue reading Industrial production growth slips to 2% in June
Home buyers can start bankruptcy cases against errant builders
The Supreme Court has upheld the amendments made to the Insolvency and Bankruptcy Code(IBC) that classified homebuyers as financial creditors. The verdict came on a petition filed by builders who had challenged the IBC amendment citing that it would result in duplication as the homebuyers have already been given protection under Real Estate Regulation and… Continue reading Home buyers can start bankruptcy cases against errant builders
