Supreme Court has directed former promoters of Fortis Healthcare Ltd to come up with a plan on how they can pay over ₹3,500 crore to Japanese drugmaker Daiichi Sankyo as directed by a Singapore arbitration tribunal. In February,2018,Singh brothers resigned as directors from the Fortis company’s board following the Delhi High Court order upholding the… Continue reading Arbitral award:SC poser to Singh brothers
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.
Disinvestment target within reach: Centre
The government is close enough to reach its disinvestment target of Rs 80,000 crore for the current fiscal year(2018-19).While,for the next fiscal (2019-2020),the government has set disinvestment target of Rs 90,000 crore.Disinvestment is defined as the action of an organisation (or government) selling or liquidating an asset or subsidiary. Earlier,Government got Rs 10,000 crore from… Continue reading Disinvestment target within reach: Centre
CBDT yet to set up angel tax exemption infrastructure
The Central Board of Direct Taxes (CBDT) has not set up the back-end infrastructure required to automatically exempt registered start-ups from angel tax.However,CBDT has asked its officers to avoid taking coercive measures against companies that have received notices under the angel tax. Angel Tax is a 30% tax that is levied on the funding received… Continue reading CBDT yet to set up angel tax exemption infrastructure
RBI to inject liquidity via forex swaps
The Reserve Bank has decided to inject long-term liquidity into the system through foreign exchange swap arrangement.The word swap means exchange.Under this arrangement,banks would be required to keep dollar funds with RBI with a deal to buy it back from the RBI after three years. Swap is a new tool to enhance liquidity in the… Continue reading RBI to inject liquidity via forex swaps
Bidders seek extension for Pawan Hans bids
The bidders of Pawan Hans have sought extension to submit their financial bids for buying the government and Oil and Natural Gas Corporations (ONGC) stake in the helicopter service provider.The government holds 51%stake in Pawan Hans.The remaining 49% is with state-run ONGC. Last year,government had invited bids from entities,saying that along with its 51 per… Continue reading Bidders seek extension for Pawan Hans bids
Government to Raise Rs 3,500 Crore Via CPSE ETF Sale
The government has planned to launch an additional offering of Central Public Sector Enterprises (CPSE) Exchange Traded Fund (ETF).It seeks to raise at least Rs 3,500 crore in disinvestment. The government disinvestment target for the current fiscal year(2018-19) is Rs 80,000 crore.While,for the next fiscal (2019-2020),the government has set disinvestment target of Rs 90,000 crore.Disinvestment… Continue reading Government to Raise Rs 3,500 Crore Via CPSE ETF Sale
U.K. yet to act on our requests for attachment of assets: ED
Enforcement Directorate(ED) has said that the United Kingdom(UK) have not taken any action on the requests of ED for attachment of assets and Non-bailable warrant(NBW) against the fugitive diamond dealer Nirav Modi. Earlier,ED had started investigations against Nirav Modi under the Prevention of Money Laundering Act.It had sent a request to UK for NBW under… Continue reading U.K. yet to act on our requests for attachment of assets: ED
IIP growth slows to 1.7%, retail inflation rises to 2.57%
According to data released by Central Statistics Office (CSO), the retail inflation for the month of February has increased to 2.57% as against 2.05% in January. Retail inflation is based on the Consumer Price Index (CPI). It reflects changes in the retail prices of specified goods and services over a time period which are traded… Continue reading IIP growth slows to 1.7%, retail inflation rises to 2.57%
‘Polls, BS VI may hit bus sales’
Daimler Buses India, a unit of Daimler India Commercial Vehicles (DICV) has expressed concern about the growth of bus sector in India. It has stated that Lok Sabha election 2019 and Bharat Stage (BS) VI emission standards would have a detrimental impact on the bus sector. The Indian government has decided to skip BS-V and… Continue reading ‘Polls, BS VI may hit bus sales’
Arecanut gets its first GI tag for ‘Sirsi Supari’
Registrar of Geographical Indications, Government of India has accorded a GI tag to ‘Sirsi Supari’. It is an arecanut cultivated in Yellapura, Siddapura and Sirsi taluks of Karnataka. The Totagars’ Cooperative Sale Society (TSS) Ltd, a Sirsi-based agri-cooperative, is the registered proprietor of the GI ‘Sirsi Supari’. Recently, Erode turmeric (Tamil Nadu) and Marayur jaggery… Continue reading Arecanut gets its first GI tag for ‘Sirsi Supari’
