According to World Bank report,India’s GDP growth is expected to accelerate moderately to 7.5% in Fiscal Year 19-20.The growth will be driven by (a)investment strengthening (b)improved export performance and (c)resilient consumption. The report said that on the demand side,domestic consumption has remained the primary growth driver but gross fixed capital formation and exports also made… Continue reading WB pegs India’s GDP growth at 7.5%
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.
U.S. Treasury official David Malpass named World Bank President
David Malpass has been unanimously elected as the new President of the World Bank.He will be the 13th President and will start his five year term from April 9,2019.He was nominated by the US president.David Malpass was a US government official and economic analyst.He has served as the Under Secretary of the Treasury for International… Continue reading U.S. Treasury official David Malpass named World Bank President
Angel investors get further relief
The government has announced that it will be mandatory to disclose holdings in unlisted companies while filing tax returns.This data will be matched with filings of startups which have been asked to disclose the list of investors along with some of their details.This may give some relief to the angel investors from notices of the… Continue reading Angel investors get further relief
India’s imports from China decelerating, says report
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
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
