The Economic Survey 2018-19 has recommended a series of measures to boost the tourism sector. The tourism sector experienced a sharp slowdown in 2018.The survey stated that the foreign tourist arrivals(FTAs) in 2018-19 stood at 10.6 million compared with 10.4 million in 2017-18. The survey has recommended various measures to boost sector such as (a)increased… Continue reading Survey calls for tax cuts, space for hotels in infra boost to tourism
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.
Economic Survey 2019 highlight
The Economic Survey which is usually presented a day before the annual Union Budget has been tabled in Parliament. Economic Survey is an assessment documents that presents a picture of the Economic Landscape of the country.The Economic Survey is presented by the Chief Economic Adviser to the Government of India. The theme of the Economic… Continue reading Economic Survey 2019 highlight
FDI needed to spur the virtuous cycle in India
According to the Economic survey,the virtuous cycle of savings, investment and exports supported by a favorable demographic phase is required for sustainable growth. The survey says that In order to trigger this virtuous cycle,we have to rely on some of FDI.They can come in and start investment and once this happens,that will enhance productivity which… Continue reading FDI needed to spur the virtuous cycle in India
Govt. can sell PSU land, reduce majority stake to boost non-tax revenue: CEA
The Chief Economic Adviser(CEA)has said that government can sell land held by PSUs and potentially reduce its majority stake in some companies to make up for the significant shortfall in tax revenues. According to the figures in the Economic Survey 2019,the government is expected to receive as much as ₹1.6 lakh crore less than what… Continue reading Govt. can sell PSU land, reduce majority stake to boost non-tax revenue: CEA
US drags India to WTO over duty hike on 28 American goods
The US has dragged India to the World Trade Organization(WTO) for according less favorable treatment to its products. India had levied higher tariffs on American products in response to the US imposing a global additional tariff of 25% and 10% on import of steel and aluminium product respectively. The US has said that the additional… Continue reading US drags India to WTO over duty hike on 28 American goods
Invest India
Invest India’ is India’s official agency dedicated to investment promotion and facilitation. It is under Ministry of Commerce and Industry. It was formed in 2009 under Section 25 of the Companies Act 1956 Invest India is set up as a joint venture company between the Department of Industrial Policy & Promotion (DIPP), Ministry of Commerce… Continue reading Invest India
Cabinet approves New Delhi International Arbitration Centre Bill
The Union Cabinet has approved the New Delhi International Arbitration Centre (NDIAC) Bill, 2019. The Bill provides for setting up of an independent autonomous body for institutional arbitration and to acquire and transfer the undertakings of International Centre For Alternative Dispute Resolution (ICADR) to New Delhi International Arbitration Centre(NDIAC). The proposed New Delhi International Arbitration… Continue reading Cabinet approves New Delhi International Arbitration Centre Bill
RBI sets up panel to review CICs
The Reserve Bank of India(RBI) has set up a working group to review the regulatory and supervisory framework for core investment companies (CIC). The working group will examine (a)regulatory framework (b)enhance onsite and offsite surveillance of these companies (c)suggest changes in registration criteria including the practice of multiple CIC within a group and (d)other such… Continue reading RBI sets up panel to review CICs
Cabinet approves Code on Wages Bill
The Union Cabinet has approved the Code on Wages Bill which seeks to subsume existing laws related to workers’ remuneration. The Code on Wages is one of the four codes that would subsume 44 labour laws.The four codes will deal with (a)wages (b)social security, (c)industrial safety and welfare and (d)industrial relations. The Code on Wages… Continue reading Cabinet approves Code on Wages Bill
Marginal hike in MSP for 14 kharif crops
Cabinet Committee on Economic Affairs chaired by the Prime Minister has approved the increase in the Minimum Support Prices(MSPs) for 14 kharif crops for 2019-20 season. The increase in MSP for Kharif crops is in line with the principle of fixing the MSPs at a level of at least 1.5 times of the all India… Continue reading Marginal hike in MSP for 14 kharif crops
