According to the PHD Chamber of Commerce and Industry,India’s imports from China stood at USD 46 billion during the April-January period of 2018-19 from USD 53 billion in the same period a year ago. The chamber has said that India has seen an increase in its exports to China during the last few months whereas… Continue reading India’s imports from China decelerating, says report
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.
India will be the third-largest economy by 2030: Jaitley
Finance Minister has said that India is expected to become the third largest economy in the world by 2030 with Gross Domestic Product(GDP) touching USD 10 trillion.The growth will happen due to consumption and investment growth. Currently,the size of the Indian economy is about USD 2.9 trillion.Further, India oscillates between the fifth and the sixth… Continue reading India will be the third-largest economy by 2030: Jaitley
Govt faces direct tax shortfall of ₹60k crore
According to the Central Board of Direct Taxes(CBDT),Direct tax collections have fallen short by Rs 60,000 crore.It has failed to meet the revised target of Rs 12 lakh crore for 2018-19 fiscal on account of poor personal income tax collections. However,tax collections has risen by 13.5% making it the third straight year of strong growth… Continue reading Govt faces direct tax shortfall of ₹60k crore
CCI gives speedy nod to L&T bid for Mindtree
The Competition Commission of India (CCI) has approved engineering and construction major Larsen & Toubro’s (L&T’s) proposal to acquire up to 66.15% stake in Mindtree.With this nod,L&T has overcome the first major regulatory hurdle in its bid for hostile takeover of the Mindtree. A hostile takeover is the acquisition of one company (called the target… Continue reading CCI gives speedy nod to L&T bid for Mindtree
Lakshmi Vilas finds a new home in Indiabulls
The boards of Lakshmi Vilas Bank(LVB) and Indiabulls Housing Finance has approved the merger between the two to create what would be known as the ‘Indiabulls Lakshmi Vilas Bank’. The merger is subject to the approval of the Reserve Bank of India (RBI),as well as the grant of other regulatory approvals.The merged entity will have… Continue reading Lakshmi Vilas finds a new home in Indiabulls
Stressed assets circular to be revised soon
The RBI governor has said that Reserve Bank of India (RBI) will issue a revised circular for resolution of stressed assets following the Supreme Court verdict striking down its February 12,2018 circular as ultra vires which means that the RBI had gone beyond its powers in issuing the circular. The Supreme Court had said that… Continue reading Stressed assets circular to be revised soon
Linking small loans to external benchmark after further talks
The Reserve Bank has said that it will hold further discussions with banks on linking interest rates on personal,home,auto and MSME loans with the external benchmark rates. In December 2018,Reserve Bank of India (RBI) had proposed a major change in the way banks price their loans.It had said that banks will have to link the… Continue reading Linking small loans to external benchmark after further talks
RBI cuts repo rate to 6%, lowers GDP forecast to 7.2%
The six-member Monetary Policy Committee of the Reserve Bank of India has cut its benchmark policy rate,repo rate by 0.25% to 6%.Repo stands for ‘Repurchasing Option’.It refers to the rate at which commercial banks borrow money from the RBI.The rate cut comes in the backdrop of a slowdown in consumption. demand,weakening investment activity and overall… Continue reading RBI cuts repo rate to 6%, lowers GDP forecast to 7.2%
18 Advance Pricing Agreements signed in March: CBDT
The Central Board of Direct Taxes (CBDT) has entered into 18 Advance Pricing Agreement(APAs) in the month of March 2019 which includes 3 Bilateral APAs(BAPAs).With this,the total number of APAs entered into by the CBDT as of now stands at 271,which also includes 31 BAPAs. APA allows the taxpayer and the tax authority to avoid… Continue reading 18 Advance Pricing Agreements signed in March: CBDT
NuGen Mobility Summit 2019
The International Centre for Automotive Technology (ICAT) will organize a NuGen Mobility Summit, 2019 at Manesar,NCR from 27th to 29th November 2019. The objective of the Summit is to (a)share new ideas (b)learnings (c)global experiences (d)innovations and (e)future technology trends for faster adoption,assimilation and development of advanced automotive technologies for a smarter and greener future.… Continue reading NuGen Mobility Summit 2019
