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.

World Economic Situation and Prospects 2019 Report and its findings

World Economic Situation and Prospects 2019 Report produced annually by the UN Department of Economic and Social Affairs (DESA), the UN Conference on Trade and Development (UNCTAD) and the five UN regional commissions on global economic trend. The global economy will continue to grow at a steady pace of around 3 per cent in 2019… Continue reading World Economic Situation and Prospects 2019 Report and its findings

The very idea of an ‘angel tax’ on start-ups must be reconsidered

Centre has set up a five-member working committee to look into revising the norms of the angel tax imposed on start-ups. Angel tax is a term used to refer to the income tax payable on capital raised by unlisted companies via issue of shares where the share price is seen in excess of the fair… Continue reading The very idea of an ‘angel tax’ on start-ups must be reconsidered

The danger of cash transfers schemes to poor

The Interim Budget promises range of schemes such as income transfers to farmers and a pension scheme for workers aged over 60 years in the unorganized sector and 10% quota for the “economically weaker sections” in the general category raises the question over its impact. However, cash transfer to poor do not ensure accessibility, affordability… Continue reading The danger of cash transfers schemes to poor

Centre may relax angel tax norms for start-ups, sets up panel

The government has set up a five-member working committee to look into the angel tax issue and come up with guidelines. Startups, who rely heavily on this funding, have raised concerns over levying taxes on angel funds under Section 56 of the Income Tax Act. Angel funds refers to a money pool created by high… Continue reading Centre may relax angel tax norms for start-ups, sets up panel

What is the lowdown on MGNREGA funding?

The Centre’s flagship rural job guarantee scheme (MGNREGA) got its highest ever allocation of Rs 60,000 crore in the interim Budget 2019-20 but less than the sum of budgetary and supplementary allocation of funds for last year. Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) is the largest social security scheme in the world that… Continue reading What is the lowdown on MGNREGA funding?

Kerala sets up drug price monitor

Kerala has become the first state to set up a Price Monitoring and Research Unit (PMRU). It aims to track violation of prices of essential drugs and medical devices under the Drugs Price Control Order (DPCO) — the orders issued by Government declaring a ceiling price for essential and lifesaving medicines. The functions of PMRU… Continue reading Kerala sets up drug price monitor

Interim Budget 2019: Centre’s fiscal deficit target goes for a toss

The Government have budgeted the fiscal deficit for 2019-20 at 3.4% of the Gross Domestic Product which is slightly higher than the target of 3.3% of GDP that the government had set itself last year. Fiscal deficit is the amount of money that the government needs to borrow in a given year because their expenses… Continue reading Interim Budget 2019: Centre’s fiscal deficit target goes for a toss

Unemployment data based on draft report: NITI Aayog

The government think tank,NITI Aayog dismissed the National Sample Survey Office (NSSO) report on unemployment as a draft and not a final report. The report showed that unemployment rate across the country stood at 6.1 per cent, the highest since 1972-73.It also showed that joblessness was higher in urban India (7.8%) than in rural India… Continue reading Unemployment data based on draft report: NITI Aayog

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