The National Bank for Agriculture and Rural Development (NABARD) has announced a Rs 700-crore venture capital fund for equity investments in agriculture and rural-focused startups. The fund has been launched by Nabventures.It is a subsidiary of NABARD and has a proposed corpus of Rs 500 crore. The fund will have a high impact as it… Continue reading Nabard announces ₹ 700-cr venture capital fund for agri, rural startups
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.
Discourse on WTO reform lacks balance
The second informal meeting of trade ministers from about 20 member nations of the World Trade Organization(WTO) has started in India. During the meeting,India has raised the issue of deadlock in WTO’s dispute settlement body and attempts by developed nations to deny developing countries access to certain trade benefits. US has consistently blocked the appointment… Continue reading Discourse on WTO reform lacks balance
CPI inflation quickens to six-month high of 2.92% on food, fuel prices
According to the data released from the Central Statistics Office (CSO), retail inflation for the month of January has increased to a six month high of 2.92%.This has been primarily due to increase in food prices including vegetables, meat, fish and eggs. Retail inflation is based on the Consumer Price Index (CPI).CPI measures changes in… Continue reading CPI inflation quickens to six-month high of 2.92% on food, fuel prices
QR code option may be must for shops
The Central government is looking to mandate a QR code-based payment option using Unified Payments Interface (UPI) at all shops. This measure is intended to promote digital payments as the preferred option.The details are being worked by the National Payments Corporation of India (NPCI). QR code or Quick Response code is a two-dimensional machine readable… Continue reading QR code option may be must for shops
Fund crunch, land cost may slow down highway projects
The National Highways Authority of India(NHAI) has decided to change its strategy for project implementation for highways due to high land acquisition costs. NHAI has changed the weight it gives to different factors while planning projects.Earlier,freight movement and revenue projects were given precedence over land acquisition. NHAI has now decided to consider only those projects… Continue reading Fund crunch, land cost may slow down highway projects
IIP at a 21-month low as manufacturing slows down
India’s Index of industrial production(IIP) has declined by 0.1% in March,2019.It is the lowest in last 21 months.This decline has happened due to slowdown in (a)manufacturing (b)capital goods and (c)consumer durables sectors. However, growth in eight core infrastructure industries hit a five month high of 4.7% in March,2019 due to strong output in coal and… Continue reading IIP at a 21-month low as manufacturing slows down
Bank credit grows 13.2% in FY19
According to data released by the Reserve Bank of India, bank credit has grown by 13.2% in financial year 2018-19 as compared to 10.3% in the previous financial year. This growth was mainly driven by loans to services and retail sector. Further,deposit growth also gained momentum growing by 10% as compared to 6.7% a year… Continue reading Bank credit grows 13.2% in FY19
India to add 3 million jobs by 2023
According to Indian Staffing Federation (ISF),the Indian tech industry will add another three million new jobs in the next five years.With this,the size of the country’s tech industry will be 7 million by 2023. These new jobs would come up in digital technology areas such as (a)artificial intelligence(AI) (b)machine learning (c)Internet of things(IOT) (d)data science… Continue reading India to add 3 million jobs by 2023
Finance panel to reconcile data
The 15th Finance Commission has said that it will reconcile data from several sources to come up with its own conclusion of a reliable economic data. The data includes key financial variables of state expenditure and debt from Comptroller and Auditor General(CAG),data on central government’s debt and public sector borrowings. Further,the finance commission has expressed… Continue reading Finance panel to reconcile data
CBIC organises meeting of Regional Heads of Customs Administration of Asia Pacific Region of the World Customs Organisation (WCO) in Kochi
Central Board of Indirect Taxes and Customs (CBIC) is organising a meeting of the Regional Heads of Customs Administration of Asia Pacific Region of the World Customs Organisation (WCO) in Kochi,Kerala. India is hosting this meeting in its capacity as Vice Chair of the Asia Pacific region for a two-year period from July, 2018 to… Continue reading CBIC organises meeting of Regional Heads of Customs Administration of Asia Pacific Region of the World Customs Organisation (WCO) in Kochi
