Finance Minister has reviewed the state of the economy at the meeting of the Financial Stability and Development Council(FSDC). The meeting reviewed the current global and domestic economic situation and financial stability issues including those concerning banking and NBFCs. The Council was also apprised of the progress made towards setting up of the Financial Data… Continue reading FSDC reviews economy, financial stability is the underlying theme
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.
Won’t allow FDI in multi-brand retail, predatory pricing: Goyal
Commerce and industry minister has said that the government would not allow multi-brand retail trade by foreign e-commerce companies. In 2018,Department for Promotion of Industry and Internal Trade (DPIIT) had tightened the foreign direct investment (FDI) rules for ecommerce companies The new rules were (a)If an entity is owned by an e-commerce marketplace(ECM),it cannot sell… Continue reading Won’t allow FDI in multi-brand retail, predatory pricing: Goyal
SEBI allows futures on commodity indices
The Securities and Exchange Board of India (SEBI) has permitted stock exchanges with commodity derivative segment to introduce futures on commodity indices. The stock exchanges willing to start trading in futures on commodity indices are required to take prior approval for launching such contracts. SEBI has also directed the stock exchanges to submit proposal with… Continue reading SEBI allows futures on commodity indices
RBI panel on MSMEs suggests Rs 20 lakh collateral-free loan under Mudra
A Reserve Bank of India(RBI) expert committee tasked with reviewing the current framework for the micro,small and medium enterprises (MSMEs) has submitted its report. The panel has recommended doubling the cap on collateral-free loans to Rs 20 lakh from the current Rs 10 lakh.This will be extended to borrowers falling under the Mudra scheme,self-help groups… Continue reading RBI panel on MSMEs suggests Rs 20 lakh collateral-free loan under Mudra
E-com firms take up data localisation issues with Goyal
Recently,Commerce minister has met industry stakeholders on e-Commerce and data localisation issue. During the meeting,the industry raised concerns around data localisation rules which requires storing of customer data exclusively in India without creating mirror sites overseas. In April 2018,Reserve Bank of India(RBI) had asked payment firms to ensure their data are stored exclusively on local… Continue reading E-com firms take up data localisation issues with Goyal
India emerges as fifth largest market for flexi-staffing: ISF
According to a report by the India Staffing Federation (ISF),India has emerged as the fifth largest country in flexi-staffing globally. Flexible staffing is an alternative to hiring permanent employees.The employer hires part-time workers,temporary employees to fill staff vacancies from flexi staffing firms. The report said that the workforce under flexi-staffing grew at an annual growth… Continue reading India emerges as fifth largest market for flexi-staffing: ISF
15 more Finance Ministry officials get marching orders over graft charges
The Central Government has compulsorily retired 15 senior customs and central excise officials. These officers either had corruption cases registered against them by the CBI or were involved in bribery, extortion and disproportionate assets cases. The orders issued by the Finance Ministry have invoked rule 56(j) of the Fundamental Rules.Based on this rule,the President has… Continue reading 15 more Finance Ministry officials get marching orders over graft charges
‘Ex-CEA’s paper does not consider key indicators
According to former planning commission member,former Chief Economic Advisor(CEA) analysis of economic growth is incorrect. He said that the analysis ignores the indicators related to the bulk of economic activity such as those measuring the agriculture,services and informal sectors. Recently,former CEA had said that India’s GDP growth in the period 2011-12 to 2016-17 is likely… Continue reading ‘Ex-CEA’s paper does not consider key indicators
Government rules out bringing oil products under GST for now
The Central Government has ruled out including petroleum products within the ambit of GST immediately by turning down repeated demands from the aviation sector and oil companies. The petroleum ministry has also asked for the inclusion as the benefit of GST is not helping oil companies as they cannot claim an input tax credit.The credit… Continue reading Government rules out bringing oil products under GST for now
‘Financial stability is a key theme for monetary policy’
The Reserve Bank of India(RBI) governor has highlighted the importance of the central bank’s role in maintaining financial stability. Financial stability can be defined as a condition in which the financial system is not unstable.It can also mean a condition in which the three components of the financial system which are financial institutions, financial markets… Continue reading ‘Financial stability is a key theme for monetary policy’
