India’s Index of industrial production(IIP) has declined by 0.1% in March,2019.It is the lowest in last 21 months.This decline has happened due to slowdown in (a)manufacturing (b)capital goods and (c)consumer durables sectors. However, growth in eight core infrastructure industries hit a five month high of 4.7% in March,2019 due to strong output in coal and… Continue reading IIP at a 21-month low as manufacturing slows down
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.
Bank credit grows 13.2% in FY19
According to data released by the Reserve Bank of India, bank credit has grown by 13.2% in financial year 2018-19 as compared to 10.3% in the previous financial year. This growth was mainly driven by loans to services and retail sector. Further,deposit growth also gained momentum growing by 10% as compared to 6.7% a year… Continue reading Bank credit grows 13.2% in FY19
India to add 3 million jobs by 2023
According to Indian Staffing Federation (ISF),the Indian tech industry will add another three million new jobs in the next five years.With this,the size of the country’s tech industry will be 7 million by 2023. These new jobs would come up in digital technology areas such as (a)artificial intelligence(AI) (b)machine learning (c)Internet of things(IOT) (d)data science… Continue reading India to add 3 million jobs by 2023
Finance panel to reconcile data
The 15th Finance Commission has said that it will reconcile data from several sources to come up with its own conclusion of a reliable economic data. The data includes key financial variables of state expenditure and debt from Comptroller and Auditor General(CAG),data on central government’s debt and public sector borrowings. Further,the finance commission has expressed… Continue reading Finance panel to reconcile data
CBIC organises meeting of Regional Heads of Customs Administration of Asia Pacific Region of the World Customs Organisation (WCO) in Kochi
Central Board of Indirect Taxes and Customs (CBIC) is organising a meeting of the Regional Heads of Customs Administration of Asia Pacific Region of the World Customs Organisation (WCO) in Kochi,Kerala. India is hosting this meeting in its capacity as Vice Chair of the Asia Pacific region for a two-year period from July, 2018 to… Continue reading CBIC organises meeting of Regional Heads of Customs Administration of Asia Pacific Region of the World Customs Organisation (WCO) in Kochi
Govt:No impact of NSSO survey on GDP numbers
The ministry of statistics and programme implementation (MOSPI) has clarified that there will not be any impact of National Sample Survey Office (NSSO) report on gross domestic product (GDP) data. This clarification came after NSSO report had found that 36% of the companies in the MCA21 database maintained by the ministry of corporate affairs(MCA) could… Continue reading Govt:No impact of NSSO survey on GDP numbers
Income support, UDAY driving fiscal slippages: RBI
The Reserve Bank has warned of the rising risks to fiscal consolidation of the states as their finances are burdened with (a)farm loan waivers (b)income support schemes and (c)UDAY bonds for their power distribution companies. These remarks were made during a meeting between the members of the 15th Finance Commission and the RBI members. Further,other… Continue reading Income support, UDAY driving fiscal slippages: RBI
B2B tech start-ups tripled since 2014: Study
According to a survey,the number of business-to-business(B2B) startups has jumped four times to 3,200 in 2018 from 800 in 2014.This has enabled faster growth of the ecosystem by attracting huge number of investments. B2B startups also referred to as enterprise startups are companies that sell a product or service to another company rather than to… Continue reading B2B tech start-ups tripled since 2014: Study
India has overly restrictive market barriers
US Commerce secretary has criticised India for its restrictive market access.He said that while U.S is India’s largest export destination but India is the 13th largest export market for the U.S. The US has raised objections on a range of issues which are (a)High tariffs on US Goods (b)Data localisation rules which forced foreign companies… Continue reading India has overly restrictive market barriers
RBI raises cap on home loans by SFBs, RRBs
The Reserve Bank of India has decided to increase the housing loan limits for Regional Rural Banks(RRBs) and Small Finance Banks(SFBs). Further,all such loans will be classified by these banks as priority sector loans. The eligibility cap has been increased to ₹35 lakh in metropolitan areas and ₹25 lakh in other centres provided the overall… Continue reading RBI raises cap on home loans by SFBs, RRBs
