The Supreme Court has upheld orders of a state consumer commission and the national consumer commission.The commission had asked the developer to refund the payment with interest to a homebuyer for over seven years delay in handing over possession of the flat.The court said a buyer cannot be required to wait indefinitely for possession of… Continue reading Buyers can’t wait indefinitely for flat, says SC on 7 Year delay
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.
SAT settles SEBI-broker dispute over interest calculation
The Securities Appellate Tribunal (SAT) was recently forced to calculate simple interest in a matter between the SEBI and broker Prebon Yamane(India).It was calculated after they failed to arrive at a consensus on the manner and the amount on which simple interest had to be calculated. The Securities and Exchange Board of India (SEBI) is… Continue reading SAT settles SEBI-broker dispute over interest calculation
GSP withdrawal by U.S. likely to affect India’s plastics exports: Plexconcil
The chairman of Plastic Export Promotion Council (Plexconcil) has said that the United States(U.S) decision to terminate India’s designation as a beneficiary country under the Generalized System of Preferences (GSP) programme is likely to affect plastic exports from India. He said some of the product segments which may face a decline in exports to the… Continue reading GSP withdrawal by U.S. likely to affect India’s plastics exports: Plexconcil
Most anti-cancer drugs costly despite price cap, says AIDAN
According to All India Drug Action Network (AIDAN),despite the Government’s decision of price capping of 42 anti-cancer drugs most cancer medicines still remain unaffordable to most Indians because there is no curb on profiteering by pharma manufacturers.Profiteering means unfair profit realized by traders by manipulating prices,tax rate adjustment among others. They have said that the… Continue reading Most anti-cancer drugs costly despite price cap, says AIDAN
Five varieties of Indian coffee awarded GI certification
The Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, has recently awarded Geographical Indication (GI) to five varieties of Indian coffee. Geographical Indications (GI) is an intellectual property right (IPR). It is a status accorded to a good which is unique to a particular region or area, and is originated… Continue reading Five varieties of Indian coffee awarded GI certification
Now, a blockchain enabled marketplace app for coffee
The commerce ministry has launched a blockchain-based coffee e-marketplace app.It will help farmers integrate with markets so that they can realise fair prices for the commodity. Coffee Board is collaborating with Eka Plus,one of the global leaders in Digital Commodity Management platforms for Agriculture for development of the application. The blockchain technology is expected to… Continue reading Now, a blockchain enabled marketplace app for coffee
Plea in court against drug pricing regulator’s move to cap trade margin for cancer medicines
The National Pharmaceutical Pricing Authority (NPPA) decision to cap the maximum trade margin for cancer medicine has been challenged in the Karnataka High Court by a private hospital group. Earlier,National Pharmaceutical Pricing Authority (NPPA) had invoked powers under Drugs (Prices Control) Order, 2013 and brought 42 non-scheduled anti-cancer drugs under price control by capping trade… Continue reading Plea in court against drug pricing regulator’s move to cap trade margin for cancer medicines
MSME networking portal launched
The Telangana government has launched a Micro,SmallandMedium Enterprises(MSME) networking portal called as Telangana State GlobalLinker. The core objective of the portal is to make the business growth of MSMEs simpler,more profitable and enjoyable. The platform will offer a host of benefits to MSME members such as (a)digitisation (b)an e-commerce store and (c)access to business efficiency… Continue reading MSME networking portal launched
New loan pricing scheme may be put off
The Reserve Bank of India(RBI) may extend the deadline for banks to shift to the new loan pricing regime which was scheduled to be implemented from April 1.This new external benchmark rate will be applicable for floating rate loans extended to individuals and small businesses. Earlier,Reserve Bank of India (RBI) had proposed a major change… Continue reading New loan pricing scheme may be put off
Data ownership, a bone of contention
The E-commerce industry has expressed concerns over the draft E-commerce policy proposal that companies should share aggregate data with the government. Recently,Department of Industry and Internal Trade has released the draft National E-commerce Policy.The prime objective of the policy is to prepare and enable stakeholders to fully benefit from the opportunities that would arise from… Continue reading Data ownership, a bone of contention
