According to Nikkei India Manufacturing Purchasing Managers’ Index (PMI) data,manufacturing activity has slowed down to 51.8 in April which is lower than 52.6 in March,2019. The prime reason for the slow growth was disruptions arising from the elections as companies may have adopted a wait-and-see approach on their plans until the public policies become clearer… Continue reading Manufacturing PMI dips to 51.8 in April
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.
NCLAT allows banks to declare defaulting IL&FS, group companies as NPAs
The National Company Law Appellate Tribunal (NCLAT) has allowed the banks to declare the accounts of IL&FS and its group companies as non-performing assets(NPA) if they have defaulted on payments.NPA is a loan or advance for which the principal or interest payment remained overdue for a period of 90 days. However,the appellate tribunal has said… Continue reading NCLAT allows banks to declare defaulting IL&FS, group companies as NPAs
New SBI rules link savings bank interest to repo rate: what has changed, why
State Bank of India (SBI) has linked its interest rate on savings account with balance above ₹1 lakh and short-term loans to Reserve Bank of India’s(RBI) repo rate. SBI had taken this decision even though RBI had deferred the plan to link the rate of interest to external benchmarks like the repo rate or Treasury… Continue reading New SBI rules link savings bank interest to repo rate: what has changed, why
Economy may have slowed in 2018-19: Finance ministry report
According to the Finance Ministry’s report,the Indian economy has slowed down slightly in 2018-19.The slowdown is due to (a)declining growth of private consumption (b)tepid increase in fixed investment and (c)muted exports. Further,the report has said that Indian economy needs to reverse the slowdown in growth of agriculture sector and sustain the growth in industry. The… Continue reading Economy may have slowed in 2018-19: Finance ministry report
Iraq remains the top oil supplier to India
According to data collected by the Directorate General of Commercial Intelligence and Statistics,Iraq has remained India’s top crude oil supplier for the second consecutive year.It met more than one-fifth of the country’s oil needs in the 2018-19 fiscal year. Saudi Arabia also maintained its position as the second-largest crude supplier to India during the year… Continue reading Iraq remains the top oil supplier to India
GST collection scales record high of ₹1.13 lakh crore in April
Goods and Services Tax(GST) collections has hit an all-time high of Rs 1.13 lakh crore in April.The government had collected Rs1.06 lakh crore in March. According to experts, increase in GST collections could be due to various reasons such as(a)tightening of tax compliance using the mechanism of e-way bills (b)change in taxation for real estate… Continue reading GST collection scales record high of ₹1.13 lakh crore in April
Core sector growth at a 5 month high in March
According to the Government data,India’s growth in eight core industries has reached a five-month high of 4.7% in March,2019.It has improved due to a broad-based recovery in sectors such as cement,refinery products, steel and coal. Core industry can be defined as the main industry which has a multiplier effect on the economy.The Eight Core Industries… Continue reading Core sector growth at a 5 month high in March
I-T Dept.,GSTN to sign MoU for sharing data to prevent anomalies
The Central Board of Direct Taxes (CBDT) has decided to enter into a memorandum of understanding(MoU) with GST Network(GSTN). The MoU will allow income tax department to share details including sales and profits that businesses have reported in their income tax returns with GSTN to scale up scrutiny and check tax evasion. This move will… Continue reading I-T Dept.,GSTN to sign MoU for sharing data to prevent anomalies
NSE fined ₹1,000 crore in co-location case
Securities and Exchange Board of India(SEBI) has barred National Stock Exchange(NSE) from raising money on securities markets for six months and has also fined NSE Rs 1000 crore under NSE co-location scam. Under the NSE co-location facility,trading members can place their servers in the exchange’s data centre,where they get faster access to the price feed,helping… Continue reading NSE fined ₹1,000 crore in co-location case
Now a portal to register e-vehicles
Maharashtra Government has announced its State Electric Vehicle Policy. Under this policy,Maharashtra has launched a new web portal for the registration of battery-operated vehicles.This portal will work as a gateway for sanction and disbursement of fiscal incentive to the buyers of Electric Vehicle (EVs), As per the approved policy,an enabling environment will also be created… Continue reading Now a portal to register e-vehicles
