The Central Government has compulsorily retired 15 senior customs and central excise officials. These officers either had corruption cases registered against them by the CBI or were involved in bribery, extortion and disproportionate assets cases. The orders issued by the Finance Ministry have invoked rule 56(j) of the Fundamental Rules.Based on this rule,the President has… Continue reading 15 more Finance Ministry officials get marching orders over graft charges
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.
‘Ex-CEA’s paper does not consider key indicators
According to former planning commission member,former Chief Economic Advisor(CEA) analysis of economic growth is incorrect. He said that the analysis ignores the indicators related to the bulk of economic activity such as those measuring the agriculture,services and informal sectors. Recently,former CEA had said that India’s GDP growth in the period 2011-12 to 2016-17 is likely… Continue reading ‘Ex-CEA’s paper does not consider key indicators
Government rules out bringing oil products under GST for now
The Central Government has ruled out including petroleum products within the ambit of GST immediately by turning down repeated demands from the aviation sector and oil companies. The petroleum ministry has also asked for the inclusion as the benefit of GST is not helping oil companies as they cannot claim an input tax credit.The credit… Continue reading Government rules out bringing oil products under GST for now
‘Financial stability is a key theme for monetary policy’
The Reserve Bank of India(RBI) governor has highlighted the importance of the central bank’s role in maintaining financial stability. Financial stability can be defined as a condition in which the financial system is not unstable.It can also mean a condition in which the three components of the financial system which are financial institutions, financial markets… Continue reading ‘Financial stability is a key theme for monetary policy’
Will take fresh look at framework to supervise NBFCs: RBI Governor Shaktikanta Das
The Reserve Bank of India(RBI) Governor has said that the RBI is giving a fresh look at the regulatory and supervisory framework of the Non-banking Financial Companies(NBFCs). The RBI Governor said that the Reserve Bank will continue to monitor the activity and performance of NBFC sector with a focus on major entities and their inter-linkages… Continue reading Will take fresh look at framework to supervise NBFCs: RBI Governor Shaktikanta Das
DoT panel approves levy of penalty on Airtel, Vodafone Idea
The Digital Communications Commission has given its approval for imposing penalty on Bharti Airtel and Vodafone Idea for denial of interconnection to Reliance Jio when the latter had entered the market. However,the commission has asked the Telecom Regulatory authority of India (TRAI) to review the penalty amount of ₹3,050 crore given the financial stress in… Continue reading DoT panel approves levy of penalty on Airtel, Vodafone Idea
Modi likely to meet bank chiefs to discuss roadmap for PSBs
Prime Minister is likely to meet chief executives of Indian banks to chalk out a strategy for the banking sector for the next five years. The meeting assumes significance as the country’s GDP growth slowed to 5.8% in the January-March 2019 quarter dragging down the full-year growth to a 5-year low of 6.8%. Further, the… Continue reading Modi likely to meet bank chiefs to discuss roadmap for PSBs
World Food India to be held from 1st to 4th November 2019 in New Delhi
The Ministry of Food Processing Industries has announced that the World Food India 2019 will be held from 1-4th November 2019 in New Delhi. The event seeks to position India as Food Processing Destination of the World. The tagline of the event will be “Forging Partnerships for Growth”. The event will consist of several top… Continue reading World Food India to be held from 1st to 4th November 2019 in New Delhi
GST Council may give one-year extension to anti-profiteering authority
The GST Council is likely to extend the tenure of the National Anti-profiteering Authority(NAA) till November 30,2020. Besides,the Council will also discuss a proposal to levy Goods and Services Tax(GST) on extra-neutral alcohol (ENA) which is used for manufacturing alcoholic liquor for human consumption. ENA is a derivative of sugarcane molasses and is not an… Continue reading GST Council may give one-year extension to anti-profiteering authority
This will be a tough budget to balance
There will be two major policy events taking place in the coming days which are the Budget and a GST Council meeting. Both will reveal the government’s intent and vision for the next five years. While there are a number of issues that it can take up at both these events,there are three main problems… Continue reading This will be a tough budget to balance
