The Union Cabinet has approved the Code on Wages Bill which seeks to subsume existing laws related to workers’ remuneration. The Code on Wages is one of the four codes that would subsume 44 labour laws.The four codes will deal with (a)wages (b)social security, (c)industrial safety and welfare and (d)industrial relations. The Code on Wages… Continue reading Cabinet approves Code on Wages Bill
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.
Marginal hike in MSP for 14 kharif crops
Cabinet Committee on Economic Affairs chaired by the Prime Minister has approved the increase in the Minimum Support Prices(MSPs) for 14 kharif crops for 2019-20 season. The increase in MSP for Kharif crops is in line with the principle of fixing the MSPs at a level of at least 1.5 times of the all India… Continue reading Marginal hike in MSP for 14 kharif crops
First Ever India International Cooperatives Trade Fair (IICTF)
Government has announced the first ever ‘India International Cooperatives Trade Fair’(IICTF) which will be held in New Delhi. The fair is being conducted with the support of Network for Development of Agricultural Cooperatives(NEDAC),ministries,four state governments and several apex levels Indian cooperative organizations. The Trade Fair is aimed at promoting cooperative to cooperative trade within India… Continue reading First Ever India International Cooperatives Trade Fair (IICTF)
Govt to enhance import limit on Tur Dal
Government has decided to enhance the import limit on Tur Dal from two lakh metric tonne to four lakh metric tonne for the year 2019 – 20. The government has also decided to release two lakh metric tonne of Tur Dal available in the buffer stock of pulses to States and Union Territories under the… Continue reading Govt to enhance import limit on Tur Dal
Ist ever International Cloud Computing challenge being held in India
First ever International Cloud computing challenge called the “World Skills India”-International Cloud Computing Challenge, 2019 is being held in India. Ten countries- India along with New Zealand, Belgium, Japan, China, South Korea, Singapore, Russia, Oman and Ireland are participating the cloud computing competition. The finalists would further compete in the 45th “WorldSkills International Competition 2019”,… Continue reading Ist ever International Cloud Computing challenge being held in India
Centre ratifies convention to curb company profit shifting
The Central Government has ratified the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting(MLI). The Multilateral Convention is an outcome of the OECD and G20 Project to tackle Base Erosion and Profit Shifting(BEPS Project). The BEPS Project objective is to tackle base erosion and profit shifting where companies… Continue reading Centre ratifies convention to curb company profit shifting
High trading costs impact liquidity of Indian equities: study
According to a study by the World Bank,the turnover ratio of the Indian stock market had fallen from 143 in 2008 to 58 in 2018. The turnover ratio which is a universally accepted parameter to gauge trading volumes,is the total value of the shares traded in a specific period divided by the average market capitalisation… Continue reading High trading costs impact liquidity of Indian equities: study
Fund-starved NBFCs seek dedicated liquidity window
Non-banking finance companies(NBFC) who are under liquidity crunch and high cost of borrowings has asked for short-term and long-term measures from the government and the Reserve Bank of India (RBI). They have asked for a dedicated refinance window for NBFCs’ on the lines of National Housing Bank which provides refinance to housing finance companies. The… Continue reading Fund-starved NBFCs seek dedicated liquidity window
Money in Swiss banks: India ranked 74
According to the data released by the Swiss National Bank(SNB),India has moved down one place to 74th rank in terms of money parked by its citizens and enterprises with Swiss banks. Among the top-ranked jurisdictions, the UK is followed by the US, West Indies, France and Hong Kong in the top five. The top-five countries… Continue reading Money in Swiss banks: India ranked 74
Govt may enhance RBI powers for better supervision of NBFCs
The government is considering a proposal from the Reserve Bank of India(RBI) seeking more powers to improve its regulatory and supervisory mechanism for non-banking financial companies(NBFCs). This proposal came after RBI had called for greater surveillance on large entities in India’s Non-banking financial companies(NBFC) as their failure could lead to losses that are similar to… Continue reading Govt may enhance RBI powers for better supervision of NBFCs
