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.

Foreign Currency Non-Resident (Banks) Deposits

News: The Reserve Bank of India has decided to increase the interest rate ceilings on Foreign Currency Non-Resident (Banks) Account deposits to support foreign inflows into the country. Foreign Currency Non-Resident (Banks) Deposits About Foreign Currency Non-Resident (Banks) Deposits It is a deposit scheme that enables the Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs)… Continue reading Foreign Currency Non-Resident (Banks) Deposits

MuleHunter.AI: RBI’s AI-Powered Tool to Combat Financial Fraud

News: Recently, the Reserve Bank of India (RBI) urged banks to adopt its AI/ML-based tool, MuleHunter.AI, to address the growing problem of mule accounts involved in digital frauds. About MuleHunter.AI It is a cutting-edge AI tool designed to detect and flag mule accounts, with the aim of tackling financial fraud and money laundering. Developed by–… Continue reading MuleHunter.AI: RBI’s AI-Powered Tool to Combat Financial Fraud

Trade Watch Report

News: NITI Aayog’s Trade Watch Quarterly Report highlights the challenges being faced by the Indian economy. Key Highlights of the Report India achieved limited success in harnessing the China Plus One strategy. While countries like Vietnam, Thailand, Cambodia, and Malaysia have emerged as major beneficiaries These countries have simplified tax laws, cheap labour, lower tariffs… Continue reading Trade Watch Report

Anna Chakra & SCAN Portal

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

Oilfields (Regulation and Development) Amendment Bill, 2024

News: The Rajya Sabha recently passed the Oilfields (Regulation and Development) Amendment Bill, 2024. It enables major changes in India’s oil and gas exploration laws. About Oilfields (Regulation and Development) Amendment Bill, 2024 The bill seeks to amend the Oilfields (Regulation and Development) Act of 1948, with the goal of increasing investment in oil and… Continue reading Oilfields (Regulation and Development) Amendment Bill, 2024

Production Linked Incentive (PLI) Scheme

News: RTI data reveals that PLI schemes have generated 5.84 lakh direct jobs by June 2024, which is about 36% of the 16.2 lakh direct jobs planned for the next five years across 14 sectors. Production Linked Incentive (PLI) Scheme About Production Linked Incentive (PLI) Scheme The PLI scheme was launched in March 2020 to… Continue reading Production Linked Incentive (PLI) Scheme

Windfall tax

    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

National Mission on Natural Farming (NMNF)

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)

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