The International Monetary Fund(IMF) has released the World Economic Outlook report.The report has projected a slower growth rate for India in 2019 and 2020.It has projected that Indian economy will grow at 7.0% in 2019 and 7.2% in 2020. The downward revision of 0.3 percentage point for both years reflects a weaker-than expected outlook for… Continue reading IMF cuts India’s growth forecast for 2019-20 to 7%
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 aims to cut patent examination time to six months
Department for Promotion of Internal Industry and Trade(DPIIT) aims to reduce the time taken to examine patents to six months as part of its five year plan from 18 months currently. A patent is a form of intellectual property.A patent gives its owner the right to exclude others from making,selling and importing an invention for… Continue reading Government aims to cut patent examination time to six months
PayPal mulls data localisation for India
American digital payments player PayPal has said that it is working with its partners on data localisation as mandated by the Reserve Bank of India(RBI). Data localisation is the act of storing data on any device physically present within the borders of a country.Localisation mandates that companies collecting critical data about consumers must store and… Continue reading PayPal mulls data localisation for India
Labour Bills meets with protest
The government has introduced the Code on Occupational Safety, Health and Working Conditions Bill,2019 and the Code on Wages Bill, 2019 in the Lok Sabha. The Code on Wages Bill,2019 aims to simplify the wage and bonus payments rules besides mandating a national minimum wage. The code on Occupational Safety, Health and Working Conditions Code,… Continue reading Labour Bills meets with protest
Rise in government borrowings might have triggered NBFC crisis
RBI Deputy Governor has expressed the possibility that the rise in government borrowings might have led to the asset-liability mismatch in the non-banking financial companies(NBFC) sector. In the case of NBFCs,the ability to borrow long-term comes down when government borrowing rises increasing the risk of financial stability. This has led to the crisis in finance… Continue reading Rise in government borrowings might have triggered NBFC crisis
Cryptocurrency panel for ban on private digital currencies, jail time of up to 10 years
Government had constituted a panel to examine all issues related to cryptocurrencies.The panel has drafted a law,‘Banning of Cryptocurrency & Regulation of Official Digital Currency Bill, 2019’. The panel has said that anybody who mine, hold, transact or deal with cryptocurrencies in any form whether directly or indirectly through an exchange or trading should attract… Continue reading Cryptocurrency panel for ban on private digital currencies, jail time of up to 10 years
China’s NASDAQ style ‘STAR MARKET’
China has launched a new stock market for homegrown technology companies called as Science and Technology Innovation Board or STAR Market.The market is modelled after a NASDAQ system. According to the regulations,red-chip companies which means Chinese based firms incorporated and listed outside China are allowed to be listed on the STAR market. The STAR Market… Continue reading China’s NASDAQ style ‘STAR MARKET’
Piyush Goyal holds ‘marathon’ of consultations with industry players ahead of RCEP meet
Commerce and Industry minister has met industry bodies to review issues that India would need to keep in mind when continuing deliberations on the Regional Comprehensive Economic Partnership (RCEP) in China. The associations has said that industries are apprehensive of India signing RCEP because of fears that China will use it to enter and dominate… Continue reading Piyush Goyal holds ‘marathon’ of consultations with industry players ahead of RCEP meet
India will achieve 8% plus growth from FY 2020-2021 onwards: NITI Aayog Vice-Chairman
NITI Aayog Vice Chairman has said that India will achieve economic growth of 8% plus from fiscal year 2020-2021. This growth will be achieved as foundation has been laid and the transformation has begun with the passing of structural reforms like the Goods and Services Tax and Insolvency and Bankruptcy Code. He also emphasised that… Continue reading India will achieve 8% plus growth from FY 2020-2021 onwards: NITI Aayog Vice-Chairman
Govt. must reduce borrowing by divesting stake in PSEs: Acharya
According to Reserve Bank of India Deputy Governor,an increase in government borrowing runs the risk of flooding the debt market which will make it expensive for companies to borrow. He said that the disinvestment in public sector enterprises(PSEs) would help in alleviating the effects of the government’s borrowing in the country. He also said serious… Continue reading Govt. must reduce borrowing by divesting stake in PSEs: Acharya
