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
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.
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
RBI lifts curbs on three PSBs
The Reserve Bank of India (RBI) have allowed three public sector banks to exit the PCA framework following capital infusion by the government and a decline in net non-performing asset (NPA) ratio. To ensure that banks don’t go bust, RBI has put in place some threshold levels to assess, monitor, control and take corrective actions… Continue reading RBI lifts curbs on three PSBs
