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
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.
‘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
Archaic labour laws must be scrapped, says staffing body
Indian Staffing Federation (ISF), a staffing industry apex body, has advocated that India’s labour regulations that, that are irrelevant in today’s context should be scrapped off. Labour is a subject in the concurrent list of the Constitution of India. Thus, both the centre and states can enact laws on labour matters. There are 44 central… Continue reading Archaic labour laws must be scrapped, says staffing body
Cross-border data movement under new law may be allowed on basis of reciprocity: Prasad
Union Telecom minister has said that the draft of Personal Data Protection Bill,2018 is finalised. The minister also said that India will uphold its data sovereignty and it will not be negotiable.However,some degree of data movement may be allowed but that will be based upon reciprocity and understanding. The draft of Personal Data Protection Bill,2018… Continue reading Cross-border data movement under new law may be allowed on basis of reciprocity: Prasad
