Category: Factly – Indian Economy

News: The Union Minister of Consumer Affairs, Food, and Public Distribution recently launched two initiatives: ‘Anna Chakra’ and the SCAN (Subsidy Claim Application for NFSA) portal. About Anna Chakra It is a Public Distribution System (PDS) Supply chain optimization tool. The Department of Food and Public Distribution leads the initiative to improve the efficiency of… Continue reading Anna Chakra & SCAN Portal

    News: The government recently removed the windfall tax on domestically produced crude oil and exports of petrol, diesel, and aviation turbine fuel after a decline in international oil prices. About Windfall tax Windfall tax is a tax imposed by governments on companies that have earned unexpectedly high profits due to favorable market conditions,… Continue reading Windfall tax

News: The Union Cabinet recently approved the launch of the National Mission on Natural Farming (NMNF). Natural Farming The Agriculture Ministry defines natural farming as a “chemical-free” farming method that relies solely on inputs derived from livestock and plant resources. Natural farming follows local farming principles, using regional knowledge and technologies suited to the local… Continue reading National Mission on Natural Farming (NMNF)

News: The Insurance Regulatory and Development Authority of India (IRDAI) chairman recently reiterated that the IRDAI’s ambitious project, Bima Sugam, will transform the insurance sector. About Bima Sugam 1. It is an online insurance marketplace (similar to an e-commerce platform) for purchasing, selling, servicing insurance policies, and settling claims. 2. It will be a plug-and-play… Continue reading Bima Sugam