According to Nikkei India Manufacturing Purchasing Managers’ Index (PMI) data,manufacturing activity has stood at 52.1 in June,2019 down from the three-month high of 52.7 in May,2019. The manufacturing activity has slowed down due to lesser number of new orders.But the consumer goods was the key source of growth with the sector registering robust increases in… Continue reading Manufacturing PMI dips to 52.1
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.
Core sector growth slows to 5.1%
According to the data released by the commerce and industry ministry, the growth in the eight core sectors has slowed down to 5.1% in May,2019.This growth was lower than the 6.3% seen in April 2019. The slowdown was led by slow growth in the coal and refinery products sector.However,the strongest performer among the eight sectors… Continue reading Core sector growth slows to 5.1%
Unemployment reports are misleading:Union Minister
Union Minister has said that the reports about high unemployment rate in the country are misleading and asserted that employment generation is the priority of the government. This statement came after NSSO report showed that unemployment rate across the country stood at 6.1%,the highest since 1972-73.It also showed that joblessness was higher in urban India… Continue reading Unemployment reports are misleading:Union Minister
Single rate GST not possible in a country with poor people, says Arun Jaitley
Former Finance Minister has said that India can have two slabs for the Goods and Services Tax(GST) but dismissed the possibility of a single rate. He said that single GST slab would be possible only in extremely affluent countries where there are no poor people.It would be inequitable to apply a single rate in countries… Continue reading Single rate GST not possible in a country with poor people, says Arun Jaitley
Cooperative helps take tribal crafts to Amazon’s global marketplace
The Tribal Cooperative Marketing Federation (TRIFED) has signed an agreement to partner with the e-commerce company Amazon’s Global Selling Programme. The agreement will allow showcasing and sell of India’s tribal crafts at Amazon’s global marketplace. The Tribal Cooperative Marketing Development Federation of India (TRIFED) was established in 1987. It is a national-level apex organization functioning… Continue reading Cooperative helps take tribal crafts to Amazon’s global marketplace
Government plans cow circuit to boost tourism
The Rashtriya Kamdhenu Aayog has decided to establish a cow circuit to encourage cow tourism in India. The cow circuit will pass through places in the country that breed indigenous cows. The Rashtriya Kamdhenu Aayog has identified the states of Haryana, Uttar Pradesh, Rajasthan, Maharashtra, Karnataka, Kerala and Goa for the cow circuit. At these… Continue reading Government plans cow circuit to boost tourism
Centre to celebrate two years of GST
To mark two years of GST implementation on 1st July 2019,the Finance Ministry has unveiled a new return filing mechanism besides a host of other reforms to simplify the indirect tax system. The finance minister has also said that GST has led to (a)Simplified Tax Structure (b)Easy Compliance (c)Seamless flow of tax credit and (d)creation… Continue reading Centre to celebrate two years of GST
Procedural concerns in focus as GST enters third year
The Goods and Services Tax(GST) has completed two years on July 1,2019. The introduction of GST was a game changer for the Indian economy as it has replaced multi-layered,complex indirect tax structure with a simple ,transparent and technology-driven tax regime. During the last two years,the government has brought in various changes both on the quantum… Continue reading Procedural concerns in focus as GST enters third year
Budget may unveil a national warehousing grid to plug key gaps, Maharashtra model
The Centre is likely to announce a scheme for an integrated warehousing network in the Budget,2019. The aim of the scheme will be to operationalise a national warehousing grid’ to effectively integrate the highly fragmented warehousing market in India. The scheme is likely to be similar to Maharashtra where the government has kicked off a… Continue reading Budget may unveil a national warehousing grid to plug key gaps, Maharashtra model
New GST return filing system from October 2019
Government will be releasing a new return filing mechanism under Goods and Service Tax(GST). This will be rolled out from October, 2019 for big businessmen and from January, 2020 for small businessmen. The traders/businessmen having zero transactions or nil filers could now file returns through SMS. For those dealing with business to consumer with an… Continue reading New GST return filing system from October 2019
