According the payroll data of the Employees State Insurance Corporation (ESIC), nearly 2 crore jobs were created during the period from September 2017 and December 2018. The ESIC data is one of payroll numbers released by the Central Statistics Office (CSO) in its reports. It is based on people joining various social security schemes run… Continue reading Two crore jobs created in 16 months to December 2018: CSO
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.
Banks may set repo rate as benchmark
The Reserve Bank of India (RBI) has proposed a major change in the way banks price their loans. It said that banks will now have to link the interest rates charged by them on different categories of loans to the external benchmarks instead of the used internal benchmarks. Currently, all loans such as for car… Continue reading Banks may set repo rate as benchmark
NPS: minimum assured return scheme on the cards
Pension fund regulatory and Development Authority(PFRDA) is planning on a minimum assured return scheme (MARS) for the subscribers of its flagship social security programme,National Pension System(NPS). Currently, returns on the National Pension System (NPS) are linked to the returns of the underlying instruments such as equity, debt or a mix of both.And if the minimum… Continue reading NPS: minimum assured return scheme on the cards
GST on under-construction flats, affordable housing slashed by 7%
The GST Council has decided that (a) Under construction properties priced over ₹45 lakh will attract 5% GST (Goods and Services Tax), instead of 12% and (b) A residential property priced at ₹45 lakh or below will now be defined as “affordable” and taxed at 1% from 8% earlier. However, builders will not be able… Continue reading GST on under-construction flats, affordable housing slashed by 7%
CBIC working groups to boost exports
The Central Board of Indirect taxes(CBIC) has set up three working groups to suggest ways to facilitate exports, especially through e-commerce, and improve compliance by way of curbing tax evasion. The working groups will focus on (a) improving the legislative structure of customs tariff and update it to suit the emerging and future needs of… Continue reading CBIC working groups to boost exports
World Bank, UN, SIDBI launch Rs 300 crore Women’s Livelihood Bond
World Bank, UN Women, and Small Industries Development Bank of India (SIDBI) have collaborated to launch a new social impact bonds exclusively for women, called Women’s Livelihood Bonds (WLBs), with an initial corpus of Rs 300 crore. The proposed bond will enable individual women entrepreneurs in sectors like food processing, agriculture, services and small units… Continue reading World Bank, UN, SIDBI launch Rs 300 crore Women’s Livelihood Bond
Labour Bureau submits report on jobs created by MUDRA loans
The Labour Bureau has submitted its report on jobs created by MUDRA scheme. In 2017, the Labour Ministry had asked the Labour Bureau to initiate the survey on jobs created through the MUDRA scheme. Labour Bureau is an attached office under Ministry of Labour and Employment. It is responsible for the collation, collection and publication… Continue reading Labour Bureau submits report on jobs created by MUDRA loans
DPIIT launches second edition of States’ ranking on Startup initiatives
The Department for Promotion of Industry and Internal Trade (DPIIT) has launched the second edition of Startup Ranking for 2019. DPIIT is responsible for formulation and implementation of promotional and developmental measures for growth of the industrial sector in India. The Startup ranking exercise aims to evaluate measures taken by states and union territories for… Continue reading DPIIT launches second edition of States’ ranking on Startup initiatives
Centre clears ₹48,239 cr. recapitalisation package for PSBs
The government approved Rs 48,239 crore capital infusion into 12 public sector banks (PSBS) to help them maintain regulatory capital requirements and finance growth plans.It takes the total infusion into government banks to nearly Rs1 lakh crore so far this fiscal year. This capital infusion has a fourfold objective: (i) bringing the better-performing banks currently… Continue reading Centre clears ₹48,239 cr. recapitalisation package for PSBs
Cabinet approves continuation of Khadi Gramodyog Vikas Yojana
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
