News: Ministry of Textiles launched “Vishwa Sutra – Weaves of India for the World” to promote Indian handlooms globally through contemporary design framework. About Vishwa Sutra Initiative It is an initiative to present Indian handlooms in a contemporary global design framework. Launched by: It has been launched by the Office of the Development Commissioner (Handlooms)… Continue reading Vishwa Sutra Initiative
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.
Potato Cultivation in India
News: Farmers’ organisations claim that the Centre’s potato procurement price is only about half of the actual input cost. About Potato Cultivation in India It is a root vegetable plant native to America and domesticated in Peru about 6000 years ago. In India, it was introduced by the Portuguese in the 16th century, and since… Continue reading Potato Cultivation in India
National Floor Level Minimum Wage (NFLMW)
News: The Indian government is fast-tracking the introduction of a national floor-level minimum wage (NFLMW) to address differences in worker pay across states. About National Floor Level Minimum Wage (NFLMW) The National Floor Level Minimum Wage (NFLMW) is the minimum pay below which no state government can set the minimum wage for workers. Wage includes… Continue reading National Floor Level Minimum Wage (NFLMW)
IndiaAI Startups Global Acceleration Programme
News: The IndiaAI Mission has announced the selection of 10 cutting-edge Indian AI startups for the second cohort of the IndiaAI Startups Global Acceleration Programme. About IndiaAI Startups Global Acceleration Programme It is an ambitious initiative designed to empower Indian AI startups with unparalleled global market access. Aim: It aims to provide Indian AI startups… Continue reading IndiaAI Startups Global Acceleration Programme
Urban Challenge Fund and Credit Repayment Guarantee Sub-Scheme (CRGSS)
News: Union Minister Shri Manohar Lal launched Operational Guidelines for Urban Challenge Fund and Credit Repayment Guarantee Sub-Scheme in New Delhi. About Operational Guidelines for Urban Challenge Fund (UCF) It is a market-linked, reform-driven, and outcome-oriented catalytic instrument for urban infrastructure financing. Duration: It will be implemented from FY 2025–26 to FY 2030–31. Nodal Ministry:… Continue reading Urban Challenge Fund and Credit Repayment Guarantee Sub-Scheme (CRGSS)
Startup India Fund of Funds 2.0
News: The government has notified Startup India Fund of Funds 2.0 with ₹10,000 crore corpus to mobilise capital and strengthen the startup ecosystem. About Startup India Fund of Funds 2.0 It is a government-backed fund with ₹10,000 crore corpus to mobilize venture and growth capital for startups. Ministry: It is under the Ministry of Commerce… Continue reading Startup India Fund of Funds 2.0
Punatsangchhu-II Hydroelectric Project (PHEP-II)
News: India and Bhutan strengthened hydropower cooperation during the visit, with signing of tariff protocol of Punatsangchhu-II Hydroelectric Project (1020 MW). About Punatsangchhu-II Hydroelectric Project (PHEP-II) It is a 1020 MW run-of-the-river hydroelectric power project in Bhutan. Developed by: It is developed by the Punatsangchhu II Hydroelectric Project Authority under an Inter-Government Agreement between Bhutan… Continue reading Punatsangchhu-II Hydroelectric Project (PHEP-II)
Trade Receivables Discounting System (TReDS)
News: Recently, Reserve Bank of India proposed removing due diligence for MSMEs onboarding on TReDS to promote ease of doing business. About Trade Receivables Discounting System (TReDS) It is an electronic platform that facilitates financing or discounting of MSME trade receivables through multiple financiers. Launched by: It was launched by the Reserve Bank of India.… Continue reading Trade Receivables Discounting System (TReDS)
Operation Dhahabu Blitz
News: DRI Mumbai busts gold smuggling syndicate in Op Dhahabu Blitz; seizing approx. 30 kg gold worth ₹38 crore. About Operation Dhahabu Blitz It is an enforcement operation carried out to crack down on gold smuggling networks into India. Naming: Gold is called ‘Dhahabu’ in Swahili language. Organized by: Directorate of Revenue Intelligence (DRI) Aim:… Continue reading Operation Dhahabu Blitz
RBI Revises Banking Correspondent Classification
News: The Reserve Bank of India proposed restructuring of Business Correspondent framework with new classification, governance norms, and remuneration standards, inviting comments. About RBI Revises Banking Correspondent Classification It introduces a structured framework with defined delivery points, governance norms, and remuneration standards to improve efficiency and oversight. Business Correspondents (BCs): Business Correspondents are individuals or… Continue reading RBI Revises Banking Correspondent Classification
