The Central government is planning to introduce a new Labour Bill in the upcoming session of the Parliament with an aim to help investors and accelerate growth. The new labour legislation would merge the existing 44 labour laws under four specific categories which are (a)wages (b)social security (c)industrial safety and welfare and (d)industrial relations. Labour… Continue reading Govt eyes reforms, to club 44 labour laws into 4 codes
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.
Govt to ask RBI to remove priority lending limit for renewable energy sector
The Ministry of new and renewable energy(MNRE) has decided to ask the Reserve Bank of India(RBI) for removal of the priority sector lending limit for the renewable energy(RE) sector. This will encourage the PSBs(public sector banks) to lend more for renewable energy projects and help RE developers access easy finance. India is running the world’s… Continue reading Govt to ask RBI to remove priority lending limit for renewable energy sector
Explained RBI’s NPA circular: Small and medium firms get reprieve
The Reserve Bank of India(RBI) has issued a revised prudential framework for resolution of stressed assets. This revised circular was issued after Supreme Court had declared the RBI’s February 12 circular on the resolution of stressed loans as unconstitutional. The revised circular has given small and medium-sized defaulters enough time to come out from the… Continue reading Explained RBI’s NPA circular: Small and medium firms get reprieve
Reserve Bank sets up panel to examine ATM charges, fees
The Reserve Bank of India has constituted a high-level committee under IBA Chief V G Kannan to examine ATM charges and fees by banks. The six-member panel will review the existing structures and patterns of costs,charges and interchange fees for ATM transaction. The committee will also review the overall patterns of usage of ATMs by… Continue reading Reserve Bank sets up panel to examine ATM charges, fees
‘China getting decimated by tariff war’
The US President has said that the US threat to impose tariffs on Mexico has forced the country to agree to stronger immigration enforcement.He has predicted the same strategy will be successful with China. The US President had slapped tariffs on products from key trading partners China,Canada,Mexico and the European Union in order to push… Continue reading ‘China getting decimated by tariff war’
Pre-budget consultations: Industry for tax cuts, more reforms to push investment
Finance Minister has held pre-budget discussions with the industry heads.The industry has suggested various reforms and tax cuts to push investment and growth of the economy. The various reforms suggested are (a)reduction in direct tax rate to a maximum of 18% (b)reducing the dividend distribution tax and (c)reform of land and labour laws. Industry heads… Continue reading Pre-budget consultations: Industry for tax cuts, more reforms to push investment
SEBI mulls norms to reward whistle-blowers
Securities and Exchange Board of India (SEBI) has released a discussion paper for informant mechanism related to insider trading wherein whistleblowers could get monetary reward of up to Rs 1 crore. Insider trading is defined in the SEBI (Prohibition of Insider Trading) Regulations, 2015 to mean trading of securities while in possession of unpublished price… Continue reading SEBI mulls norms to reward whistle-blowers
Sashakt panel hails RBI circular making ICA mandatory
The Chairman of the Sashakt Committee has said the new RBI direction making the Intercreditor Agreement (ICA) framework mandatory is a move in the right direction for resolution of non-performing assets (NPAs or bad loans). The Reserve Bank of India(RBI) has issued a revised prudential framework for resolution of stressed assets.The revised circular was issued… Continue reading Sashakt panel hails RBI circular making ICA mandatory
Reserve Bank relaxes the norms for no-frills accounts
The Reserve Bank of India(RBI) has relaxed the norms for the Basic Savings Bank Deposit(BSBD) accounts or popularly known as no-frills accounts. The BSBD account was designed as a savings account that will offer certain minimum facilities,free of charge to the holders.Such accounts are primarily aimed at enhancing financial inclusion among the economically weaker sections.… Continue reading Reserve Bank relaxes the norms for no-frills accounts
With eye on improving quality of macro-economic aggregates, MoSPI to set up ‘National Data Warehouse’
The Ministry of Statistics and Programme Implementation (MoSPI) has proposed to set up a ‘National Data Warehouse’. The national-level data warehouse works as a central repository of all the statistical data collected various ministries,UTs and state governments.This integrated data allows policy makers and researchers to access data sets,its history and extract it across different groups.… Continue reading With eye on improving quality of macro-economic aggregates, MoSPI to set up ‘National Data Warehouse’
