The Union Cabinet has approved to extend the ambit of the PM Kisan Samman Nidhi Yojana. This scheme can now be availed by all land holding eligible farmer families (subject to the prevalent exclusion criteria) under the scheme irrespective of the size of land holdings. The revised Scheme is now expected to cover around 2… Continue reading PM-KISAN Scheme extension to include all eligible farmer families irrespective of the size of land holdings
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.
Cabinet clears pension scheme for traders
The Union Cabinet has approved a new scheme that offers pension coverage to the trading community. The pension scheme assures a minimum monthly pension of ₹3000 per month to small shopkeepers, retail traders and the self-employed people after attaining the age of 60 years. The scheme will be available to all small shopkeepers and self-employed… Continue reading Cabinet clears pension scheme for traders
Landmark decision taken in the first Cabinet meeting of the NDA Government offers pension coverage to crores of farmers
The Union Cabinet has approved a new Central Sector Scheme to provide pension cover to farmers.The pension scheme will be voluntary and contributory scheme for all Small and Marginal Farmers (SMF) across the country. There will be an entry age of 18 to 40 years with a provision of minimum fixed pension of Rs.3,000/- on… Continue reading Landmark decision taken in the first Cabinet meeting of the NDA Government offers pension coverage to crores of farmers
SFIO identifies ‘coterie’ that defrauded IL&FS
Serious Fraud Investigation Office(SFIO) has charged the erstwhile top management members of the ILFS of forming a coterie with its auditors and independent directors to defraud the company while running the ILFS as their personal business. Coterie means a small group of people with shared interests or tastes, especially one that is exclusive of other… Continue reading SFIO identifies ‘coterie’ that defrauded IL&FS
RBI may cut interest rate by at least 25 bps on June 6: Experts
According to experts,the Reserve Bank of India’s Monetary Policy Committee (MPC) may cut the interest rate to boost up the economic growth which dropped to a five-year low in the final quarter of 2018-19. The rate cut is needed to address weakening credit availability as Non-banking financial companies(NBFCs) remain in turmoil representing a significant bottleneck… Continue reading RBI may cut interest rate by at least 25 bps on June 6: Experts
GDP growth slumps to 5.8%
According to data released by the Central Statistics Office (CSO), India’s quarterly GDP growth has declined to a five-year low of 5.83% in the last year (January-March) of FY19. Overall growth for FY19 also declined to a five-year low of 6.8%. China’s economy, in comparison, grew 6.4% in the last quarter but for the full… Continue reading GDP growth slumps to 5.8%
RBI extends RTGS transfer timings
The Reserve Bank of India has increased the Real Time Gross Settlement(RTGS) time window for customer transactions from 4.30 pm to 6 pm. The RTGS is an online fund transfer system supported by the RBI which enables transmission on a real-time basis. Real time means the beneficiary bank receives the instructions for fund transfer immediately… Continue reading RBI extends RTGS transfer timings
Telangana priming for tech glory with first Blockchain district
Telangana Government has announced a draft blockchain policy to offer regulatory and policy support for blockchain startups based in Hyderabad. The policy was announced with an aim to make Hyderabad as one of the top 10 Blockchain cities of the world. It has also decided to create India’s first Blockchain district within Hyderabad. The Blockchain… Continue reading Telangana priming for tech glory with first Blockchain district
Supreme Court agrees to examine power of authorities to arrest individuals for GST evasion
Supreme Court has decided to examine the power of the government officials to arrest persons for Good and Services Tax (GST) evasion. The court observed that different high courts had taken different views in granting anticipatory bail to individuals accused of GST evasion and therefore, it needs to decide the question of law on the… Continue reading Supreme Court agrees to examine power of authorities to arrest individuals for GST evasion
RBI forms task force on corporate loans
The Reserve Bank of India has constituted a task force on the development of secondary market for corporate loans under T N Manoharan. The task force has also been asked to make recommendations for creation of a loan contract registry to remove information asymmetries between buyers and sellers ownership structure and standardisation of loan information,… Continue reading RBI forms task force on corporate loans
