Cabinet Committee on Economic Affairs has approved the following: (a) 8 different schemes of Khadi & Village Industries are now merged under two heads i.e. ‘Khadi Vikas Yojana’ and ‘Gramodyog Vikas Yojana’. (b) Khadi Vikas Yojana includes Market Promotion & Development Assistance (MPDA), Interest Subsidy Eligibility Certificate (ISEC) , Strengthening Weak Infrastructure , Aam Aadmi… Continue reading Cabinet approves continuation of Khadi Gramodyog Vikas Yojana
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.
Commerce Minister launches SWAYATT on GeM
SWAYATT stands for Start-ups, Women and Youth Advantage Through eTransactions on Government e Marketplace (GeM).It is an initiative to promote MSMEs, women and young entrepreneurs through e-transactions on the Government e-Marketplace (GeM). It was launched by the Ministry of Commerce and Industry.This will bring together the key stakeholders within the Indian entrepreneurial ecosystem to Government e-Marketplace, the national procurement portal. Government e Marketplace is an online… Continue reading Commerce Minister launches SWAYATT on GeM
Ordinance to curb Ponzi schemes gets a nod
The Union Cabinet has approved the Promulgation of Unregulated Deposit Schemes Ordinance, 2019. The ordinance is in regard to the Banning of Unregulated Deposit Schemes Bill, 2018. It seeks to tackle the problem of illicit deposit taking activities in India and protect the interests of depositors. It provides for complete prohibition on promoting, operating, issuing… Continue reading Ordinance to curb Ponzi schemes gets a nod
Govt relaxes norms for startups
The government has relaxed the norms under the definition of Start-Ups. The changes brought in are: (a) The investment limit of angel investors to seek exemption under the Income Tax Act, 1961 has been increased to Rs 25 crore from 10 Crore. (b) An entity shall be considered as a startup up to 10 years from… Continue reading Govt relaxes norms for startups
Cabinet approves new National Electronics Policy
The Union Cabinet has approved the National Policy on Electronics (NPE) 2019. The policy aims to a) achieve a turnover of $400 billion for the Electronics System design and Manufacturing (ESDM) sector by 2025 and b) generate 1 crore jobs in India. The ESDM sector includes subsectors such as electronic products, electronic components, semiconductor design,… Continue reading Cabinet approves new National Electronics Policy
RBI to transfer Rs 28,000 crore interim surplus to government
Reserve Bank will transfer an interim dividend of Rs 28,000 crore to the government, a move that will help the Centre keep fiscal deficit in check.RBI has already transferred Rs 40,000 crore in current year (2018-19). Interim dividend is a payment made during the course of a financial year.RBI is a “full service” central bank… Continue reading RBI to transfer Rs 28,000 crore interim surplus to government
Policy bias against rainfed agriculture
A new rainfed agriculture atlas has been released recently released by the Revitalising Rainfed Agriculture (RRA) Network. The atlas not only maps the agro biodiversity and socio-economic conditions prevailing in such areas, but also attempts to document the policy biases that are making farming unviable for many in these areas. The term Rainfed agriculture is… Continue reading Policy bias against rainfed agriculture
Panel backs old system for oil block bid
A High level panel headed by NITI AAYOG Vice chairman Rajiv Kumar, has advised government to shift from the present revenue sharing contracts for oil and gas block auctions to the older system of production sharing contract. In Production sharing (a) firms offering the largest work programmes (such as carrying out seismic survey and drilling… Continue reading Panel backs old system for oil block bid
States allocation: panel sticks to 2011 census
The 15th Finance Commission(FC) will be using data from 2011 census for the devolution of taxes.Few states have expressed concern over the decision as it would result in lower resource allocation. The Finance Commission is a constitutional body appointed every five years by president and consists of a chairman and four other members.15th finance commission… Continue reading States allocation: panel sticks to 2011 census
Government hikes minimum selling price of sugar
Government has increased the minimum selling price (MSP) of sugar to support the oversupply hit sugar industry. MSP is the minimum price paid to the farmers for procuring food crops.It is announced by the Government at the beginning of the sowing season. There are two objectives of the Minimum Support Price system (a)To prevent distress… Continue reading Government hikes minimum selling price of sugar
