The National Small Industries Corporation Limited(NSIC) has signed an MoU with Ministry of Micro, Small and Medium Enterprises for the year 2019-20. The MoU envisages provision of enhanced services by NSIC under its marketing, financial, technology and other support services schemes for MSMEs in the country. Under the scheme of National SC-ST Hub,implemented by NSIC… Continue reading NSIC signs MOU with Ministry of MSME
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.
Draft export policy unveiled
The Commerce Ministry has released a draft export policy.The draft policy is aimed at consolidating the export norms for each product as applicable at different government agencies. Every product has been accorded eight digit HS codes. ITC(HS) codes are better known as Indian Trade Clarification (ITC) and are based on the Harmonized System (HS) of… Continue reading Draft export policy unveiled
Disclose names of big defaulters, CIC tells RBI
The Central Information Commission(CIC) has directed the Reserve Bank of India to disclose the list of big loan defaulters it had sent to banks for resolution. The CIC’s directive came on a plea who had based her RTI application on some reports that RBI Deputy Governor had said that accounts of some loan defaulters have… Continue reading Disclose names of big defaulters, CIC tells RBI
New code in offing for textile, clothing sector
The chairman of the Cotton Textiles and Export Promotion Council (Texprocil) has said that ‘Social and Labor Convergence Programme (SLCP)’ will be launched in India shortly. This program is an initiative to have a standard-neutral, converged assessment framework for the textile and clothing industry. The objective of the initiative is to improve the working conditions… Continue reading New code in offing for textile, clothing sector
SEBI tightens disclosure norms for listed debt securities
Securities and Exchange Board of India (SEBI) has asked debenture trustees to enhance their disclosure for listed debt securities with a view to protecting the interests of investors. Debenture is an instrument of debt executed by the company acknowledging its obligation to repay the sum at a specified rate and also carrying an interest.It is… Continue reading SEBI tightens disclosure norms for listed debt securities
Task force on direct tax laws to submit report by July 31
The task force set up to draft a new direct tax law to replace the existing Income Tax Act has been given 2-month extension till July 31 to submit its report.The task force was scheduled to submit the report by May 31. The task force was set up after Prime Minister during the annual conference… Continue reading Task force on direct tax laws to submit report by July 31
Govt clears restructuring of statistical system, proposes NSSO, CSO merger
Central government has decided to merge the National Sample Survey Office (NSSO) with the Central Statistics Office (CSO) under the Ministry of Statistics and Programme Implementation (MoSPI). The order states that the proposed National Statistical Office (NSO) would be headed by Secretary of Statistics and Programme Implementation. However,the order skips any mention of National Statistical… Continue reading Govt clears restructuring of statistical system, proposes NSSO, CSO merger
Avoid tit-for-tat in trade war, cut duties: Panel
A high-level advisory group constituted by the union commerce ministry on Foreign trade policy has submitted its report to government. The panel has recommended the centre to cut down corporate tax rate and set a target to double the exports by 2025.Further,centre should create 25-year sovereign bonds where people declaring undisclosed income bound to invest… Continue reading Avoid tit-for-tat in trade war, cut duties: Panel
RBI plans liquidity buffer at shadow banks to aid stressed sector
The Reserve Bank of India (RBI) has released the draft circular on Liquidity Risk Management Framework for Non-Banking Financial Companies(NBFCs) and Core Investment Companies (CIC’s) for public comments. The NBFCs play an important role in delivering credit to the last mile, including the retail as well as MSME sectors. However,many NBFCs have come under severe… Continue reading RBI plans liquidity buffer at shadow banks to aid stressed sector
RBI to infuse ₹15,000 cr. in June via OMO
The Reserve Bank has said it will inject Rs 15,000 crore into the financial system through purchase of government bonds via the auction route.The government securities will be bought under Open Market Operations (OMO). This decision was taken as financial sector has been facing liquidity crisis ever since the Infrastructure Leasing and Financial Services Ltd… Continue reading RBI to infuse ₹15,000 cr. in June via OMO
