The Central Board of Indirect taxes(CBIC) has set up three working groups to suggest ways to facilitate exports, especially through e-commerce, and improve compliance by way of curbing tax evasion. The working groups will focus on (a) improving the legislative structure of customs tariff and update it to suit the emerging and future needs of… Continue reading CBIC working groups to boost exports
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.
World Bank, UN, SIDBI launch Rs 300 crore Women’s Livelihood Bond
World Bank, UN Women, and Small Industries Development Bank of India (SIDBI) have collaborated to launch a new social impact bonds exclusively for women, called Women’s Livelihood Bonds (WLBs), with an initial corpus of Rs 300 crore. The proposed bond will enable individual women entrepreneurs in sectors like food processing, agriculture, services and small units… Continue reading World Bank, UN, SIDBI launch Rs 300 crore Women’s Livelihood Bond
Labour Bureau submits report on jobs created by MUDRA loans
The Labour Bureau has submitted its report on jobs created by MUDRA scheme. In 2017, the Labour Ministry had asked the Labour Bureau to initiate the survey on jobs created through the MUDRA scheme. Labour Bureau is an attached office under Ministry of Labour and Employment. It is responsible for the collation, collection and publication… Continue reading Labour Bureau submits report on jobs created by MUDRA loans
DPIIT launches second edition of States’ ranking on Startup initiatives
The Department for Promotion of Industry and Internal Trade (DPIIT) has launched the second edition of Startup Ranking for 2019. DPIIT is responsible for formulation and implementation of promotional and developmental measures for growth of the industrial sector in India. The Startup ranking exercise aims to evaluate measures taken by states and union territories for… Continue reading DPIIT launches second edition of States’ ranking on Startup initiatives
Centre clears ₹48,239 cr. recapitalisation package for PSBs
The government approved Rs 48,239 crore capital infusion into 12 public sector banks (PSBS) to help them maintain regulatory capital requirements and finance growth plans.It takes the total infusion into government banks to nearly Rs1 lakh crore so far this fiscal year. This capital infusion has a fourfold objective: (i) bringing the better-performing banks currently… Continue reading Centre clears ₹48,239 cr. recapitalisation package for PSBs
Cabinet approves continuation of Khadi Gramodyog Vikas Yojana
Cabinet Committee on Economic Affairs has approved the following: (a) 8 different schemes of Khadi & Village Industries are now merged under two heads i.e. ‘Khadi Vikas Yojana’ and ‘Gramodyog Vikas Yojana’. (b) Khadi Vikas Yojana includes Market Promotion & Development Assistance (MPDA), Interest Subsidy Eligibility Certificate (ISEC) , Strengthening Weak Infrastructure , Aam Aadmi… Continue reading Cabinet approves continuation of Khadi Gramodyog Vikas Yojana
Commerce Minister launches SWAYATT on GeM
SWAYATT stands for Start-ups, Women and Youth Advantage Through eTransactions on Government e Marketplace (GeM).It is an initiative to promote MSMEs, women and young entrepreneurs through e-transactions on the Government e-Marketplace (GeM). It was launched by the Ministry of Commerce and Industry.This will bring together the key stakeholders within the Indian entrepreneurial ecosystem to Government e-Marketplace, the national procurement portal. Government e Marketplace is an online… Continue reading Commerce Minister launches SWAYATT on GeM
Ordinance to curb Ponzi schemes gets a nod
The Union Cabinet has approved the Promulgation of Unregulated Deposit Schemes Ordinance, 2019. The ordinance is in regard to the Banning of Unregulated Deposit Schemes Bill, 2018. It seeks to tackle the problem of illicit deposit taking activities in India and protect the interests of depositors. It provides for complete prohibition on promoting, operating, issuing… Continue reading Ordinance to curb Ponzi schemes gets a nod
Govt relaxes norms for startups
The government has relaxed the norms under the definition of Start-Ups. The changes brought in are: (a) The investment limit of angel investors to seek exemption under the Income Tax Act, 1961 has been increased to Rs 25 crore from 10 Crore. (b) An entity shall be considered as a startup up to 10 years from… Continue reading Govt relaxes norms for startups
Cabinet approves new National Electronics Policy
The Union Cabinet has approved the National Policy on Electronics (NPE) 2019. The policy aims to a) achieve a turnover of $400 billion for the Electronics System design and Manufacturing (ESDM) sector by 2025 and b) generate 1 crore jobs in India. The ESDM sector includes subsectors such as electronic products, electronic components, semiconductor design,… Continue reading Cabinet approves new National Electronics Policy
