According to government data, wholesale inflation declined to 2.76% in January 2019. The decline has been attributed to cheaper fuel prices. Wholesale Price Inflation tracks changes in the price of goods in stages before the retail level i.e. goods that are sold in bulk and traded between organizations instead of consumers. It is measured by the… Continue reading Wholesale inflation eases to 10 month low of 2.76%
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.
Low velocity of cash circulation in large States hints at sluggish economy: report
According to State Bank of India report,India’s present currency circulation is at Rs 20.4 lakh crore,which is at least Rs 1.5 lakh crore lower than what it would have reached if there had been no demonetisation.Thus, any argument of cash coming back aggressively into the system and financing informal activities is not entirely correct. The… Continue reading Low velocity of cash circulation in large States hints at sluggish economy: report
Chit Fund Bill: govt. breaches Oppn. Unity
The government has passed the Banning of Unregulated Deposit Schemes Bill, 2018. The bill was has been passed after amendments based on the recommendations of Standing Committee on Finance (SCF). The bill comes in the backdrop of menace of illicit deposit schemes duping general public over last few years in India. The bill aims to… Continue reading Chit Fund Bill: govt. breaches Oppn. Unity
Retail Inflation cools further to 2.05% in Jan
According to the data released from the Central Statistics Office (CSO), retail inflation for the month of January has declined to 2.05%. This decline has been primarily due to a) sustained decline in food prices and b) a sharp decline in energy prices. It is based on the Consumer Price Index (CPI). It reflects changes… Continue reading Retail Inflation cools further to 2.05% in Jan
Budget shortfall worries Defence Services
The shortfall in Defence allocation in the interim Budget 2019-20, especially in its capital allocation, has left the Services worried as it threatens to delay the capability enrichment and modernisation under way. The shortfall is so significant that, for the Navy and the Air Force, the capital allocation does not even meet the committed liabilities… Continue reading Budget shortfall worries Defence Services
TRAI’s New Tariff Regulations kick in for Feb 1st
Telecom Regulatory Authority of India (TRAI) – the regulator of the telecommunications sector in India- has put forward a new tariff and regulatory framework for Direct-to-Home (DTH) and cable services. The new framework aims to lower the cost of TV viewing for consumers. According to the new regulations, a) Customer have to pay fixed Network… Continue reading TRAI’s New Tariff Regulations kick in for Feb 1st
Third round of OALP offers 23 oil, gas, coal-bed methane blocks
The union government has launched the third round of oilfield auctions under the Open acreage Licensing Programme (OALP) OALP is a part of Hydrocarbons Exploration and Licensing Policy (HELP). It aims at enabling faster survey and assessment of areas with oil and gas potential. Under the programme, exploration companies can select their operation blocks without… Continue reading Third round of OALP offers 23 oil, gas, coal-bed methane blocks
Pension scheme for workers in informal sector to kick-start from February 15
According to the Labour ministry notification,Pradhan Mantri Shram Yogi Maandhan (PMSYM) scheme will be open from February 15th, 2019. This scheme can be availed by the unorganised sector workers under the age of 40 years earning up to Rs 15,000 every month. The scheme provides a minimum monthly pension of Rs 3,000 after the age… Continue reading Pension scheme for workers in informal sector to kick-start from February 15
Will try to lift more banks from PCA
1.The government said they will try to help lift the restrictions on other public sector banks too after the Reserve Bank of India (RBI) lifted restrictions under prompt corrective action (PCA) on three public sector banks last week. 2.The PCA framework kicks in when banks breach any of the three key regulatory trigger points —… Continue reading Will try to lift more banks from PCA
Startups to be listed for Angel tax exemption
1.The government on Friday agreed to compile a list of startups eligible for angel tax exemption, based on their audited financial statements and income tax returns of the previous year.2.The government has decided to raise the maximum time limit below which a firm would be deemed eligible for angle tax exemption from present 7 years… Continue reading Startups to be listed for Angel tax exemption
