Prime Minister will attend the G-20 summit in Osaka,Japan from June 27-29,2019. The theme of the summit is “Human centred future society”.The summit will take up digital economy, artificial intelligence, global health, ageing and marine plastic waste as subjects of deliberation. The Government has said that former Union minister Suresh Prabhu would be the sherpa… Continue reading India likely to raise terror, financial crimes at G20 summit in Osaka
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.
Nasscom and global Internet body join hands for global research in IoT
Internet Corporation for Assigned Names and Numbers (ICANN) and National Association of Software and Services Companies (Nasscom) have joined hands for developing standards that will feed into the global consultation for managing Internet-of-Things devices. ICANN is a non-profit body that administers domain names and Internet protocol addresses (IPs) globally.It was formed in 1988 by the… Continue reading Nasscom and global Internet body join hands for global research in IoT
India has highest data usage: Report
A report titled “Ericsson Mobility Report” by Swedish telecom equipment maker Ericsson has said that India has the world’s highest data usage per smartphone at an average of 9.8GB per month. The second highest data usage is in North-east Asia. West Asia and Africa region has the lowest data usage at 3GB per month The… Continue reading India has highest data usage: Report
PM’s panel rejects former CEA’s paper on GDP growth
PM Economic Advisory Council(PMEAC) has challenged former chief economic advisor(CEA) claim that India’s gross domestic product (GDP) was overestimated for most of this decade. Recently,former CEA had said that India’s GDP growth in the period 2011-12 to 2016-17 is likely to have been overestimated.He said that the growth during that period was actually 4.5% rather… Continue reading PM’s panel rejects former CEA’s paper on GDP growth
FSDC reviews economy, financial stability is the underlying theme
Finance Minister has reviewed the state of the economy at the meeting of the Financial Stability and Development Council(FSDC). The meeting reviewed the current global and domestic economic situation and financial stability issues including those concerning banking and NBFCs. The Council was also apprised of the progress made towards setting up of the Financial Data… Continue reading FSDC reviews economy, financial stability is the underlying theme
Won’t allow FDI in multi-brand retail, predatory pricing: Goyal
Commerce and industry minister has said that the government would not allow multi-brand retail trade by foreign e-commerce companies. In 2018,Department for Promotion of Industry and Internal Trade (DPIIT) had tightened the foreign direct investment (FDI) rules for ecommerce companies The new rules were (a)If an entity is owned by an e-commerce marketplace(ECM),it cannot sell… Continue reading Won’t allow FDI in multi-brand retail, predatory pricing: Goyal
SEBI allows futures on commodity indices
The Securities and Exchange Board of India (SEBI) has permitted stock exchanges with commodity derivative segment to introduce futures on commodity indices. The stock exchanges willing to start trading in futures on commodity indices are required to take prior approval for launching such contracts. SEBI has also directed the stock exchanges to submit proposal with… Continue reading SEBI allows futures on commodity indices
RBI panel on MSMEs suggests Rs 20 lakh collateral-free loan under Mudra
A Reserve Bank of India(RBI) expert committee tasked with reviewing the current framework for the micro,small and medium enterprises (MSMEs) has submitted its report. The panel has recommended doubling the cap on collateral-free loans to Rs 20 lakh from the current Rs 10 lakh.This will be extended to borrowers falling under the Mudra scheme,self-help groups… Continue reading RBI panel on MSMEs suggests Rs 20 lakh collateral-free loan under Mudra
E-com firms take up data localisation issues with Goyal
Recently,Commerce minister has met industry stakeholders on e-Commerce and data localisation issue. During the meeting,the industry raised concerns around data localisation rules which requires storing of customer data exclusively in India without creating mirror sites overseas. In April 2018,Reserve Bank of India(RBI) had asked payment firms to ensure their data are stored exclusively on local… Continue reading E-com firms take up data localisation issues with Goyal
India emerges as fifth largest market for flexi-staffing: ISF
According to a report by the India Staffing Federation (ISF),India has emerged as the fifth largest country in flexi-staffing globally. Flexible staffing is an alternative to hiring permanent employees.The employer hires part-time workers,temporary employees to fill staff vacancies from flexi staffing firms. The report said that the workforce under flexi-staffing grew at an annual growth… Continue reading India emerges as fifth largest market for flexi-staffing: ISF
