Commerce and Railways Minister has asked the various transport Ministries to find ways to reduce logistics costs in the country to 9% of GDP by 2022 from the current 14%. Commerce minister also reviewed the draft National Logistics Policy and the proposed action plan for implementation of the policy. The draft policy has been prepared… Continue reading Cut logistics cost to 9% of GDP, Goyal tells States
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.
Government revamps WPI revision team
The government has reconstituted the working group tasked with revising the current wholesale price index (WPI). The terms of reference(ToR) of the working group are (a)select the most appropriate Base Year for the preparation of a new official series of Index Numbers of WPI and Producer Price Index (PPI) in India (b)review commodity basket of… Continue reading Government revamps WPI revision team
NPAs down, credit growth picking up: RBI
The Reserve Bank of India has released the Financial Stability Report. The report assessed that India’s financial system remains stable in the backdrop of improving resilience of the banking sector.However,the emerging trends in the global economy and geopolitical environment pose challenges. The report has said that the Gross non-performing assets in the banking system have… Continue reading NPAs down, credit growth picking up: RBI
SEBI tightens norms for mutual fund investments
The Securities and Exchange Board of India(Sebi) has introduced more checks and balances for mutual funds(MFs) to secure investors and stem systemic risks. SEBI has said that mutual fund schemes can now invest only in listed debt or equity.The valuation of securities in debt funds will now be on mark-to-market basis instead of the earlier… Continue reading SEBI tightens norms for mutual fund investments
Surjit Bhalla Committee on Trade and Policy
Union Minister of Finance & Corporate Affairs has informed Rajya Sabha about the Surjit Bhalla Committee on Trade and Policy. The Union commerce ministry had constituted a high-level advisory group on Foreign trade policy.The group has submitted its report to the government. The panel has recommended the centre to cut down corporate tax rate and… Continue reading Surjit Bhalla Committee on Trade and Policy
Centre expands terms of reference of direct tax law body
The Central Board of Direct Taxes (CBDT) has decided to expand the terms of reference for the committee that has been formed to re-write the Direct Tax Code(DTC). The committee will now have to consider five more areas while drafting their recommendation making the total terms of reference nine. The existing terms of reference included… Continue reading Centre expands terms of reference of direct tax law body
RBI begins monitoring HFCs
The Reserve Bank of India(RBI) has started monitoring the liquidity position,asset-liability gap and repayment schedules of housing finance companies(HFCs) on a daily basis. The move to monitor HFCs on a daily basis comes after some HFC had gone into liquidity crisis which had resulted in defaults.This crisis had started since the debt default by IL&FS… Continue reading RBI begins monitoring HFCs
Payments data must be saved locally: RBI
The Reserve Bank of India (RBI) has clarified that payment system providers need to store entire payments data in a system only in India. The data should include end-to-end transaction details and information pertaining to payment or settlement transaction that is gathered, transmitted as part of a payment message or instruction. The data could be… Continue reading Payments data must be saved locally: RBI
APEDA Organizes buyers-sellers meet
Agricultural & Processed Food Products Export Development Authority (APEDA) in association with North Eastern Regional Agricultural Marketing Corporation(NERAMAC) has organised the International Buyers-Sellers Meet in Imphal,Manipur. APEDA chairman said that India’s total agricultural product exports is valued at 38 billion USD for the financial year 2017-18 out of which 50% is contributed through APEDA’s products.… Continue reading APEDA Organizes buyers-sellers meet
U.S.-China trade war may reduce global growth rate
According to Fitch Ratings,the ongoing U.S.-China trade war escalation could reduce the World GDP growth by 0.4% points till 2020 and possibly lead to the lowest growth since 2009. Trade war is a situation where countries restrict each other’s trade by imposing tariffs or quotas on imports.The United States and China are discussing a trade… Continue reading U.S.-China trade war may reduce global growth rate
