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
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.
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’
‘India ranks 11th in gold holding’
A recent report by World Gold Council has ranked India 11th in terms of gold holding. India’s current gold holding is 607 tonnes. Gold holding is a central banks’ total holding of gold as a percentage of their foreign exchange reserves. India is the largest consumer of gold. USA has ranked first in gold holding followed… Continue reading ‘India ranks 11th in gold holding’
A day after crash, DGCA issues advisory for Boeing 737 MAX 8
Directorate General of Civil Aviation(DGCA) has issued safety guidelines for the operation of Boeing 737 MAX aircraft.It was issued after Boeing aircraft belonging to Ethiopian Airlines crashed fuelling concern about passenger safety which has forced several countries to ground these jets. The safety guidelines issued are (a)Pilots should have at least 1,000 hours of flying… Continue reading A day after crash, DGCA issues advisory for Boeing 737 MAX 8
