Credit rating agency Crisil has cut the gross domestic product(GDP) estimate for India to 6.9% from 7.1% in 2019-20. Crisil has said that revision in growth forecast was due to inadequate monsoon,slowing global growth and sluggish high-frequency data for the first quarter. However,the report said that the second half should find support from expected monetary… Continue reading Crisil cuts FY20 GDP growth forecast to 6.9% from 7.1%
Category: Daily Factly articles
Cabinet approves Nutrient Based Subsidy (NBS)
The Union Cabinet has approved the Nutrient Based Subsidy (NBS) rates for Phosphatic and Potassic(P&K) fertilizers for the year 2019-20. This decision will help manufacturers and importers formalise supply contracts for fertilisers and fertiliser inputs and make them available to farmers during the current year. Government provides fertilizers, Urea and 21 grades of P&K fertilizers… Continue reading Cabinet approves Nutrient Based Subsidy (NBS)
India’s manufacturing sector growth inches up to 52.5 in July: PMI
According to Nikkei India Manufacturing Purchasing Managers’ Index (PMI) data, manufacturing activity increased to 52.5 in July,2019 from 52.1 in June,2019. PMI has improved as new work orders and output strengthened leading to moderate increase in employment.Apart from this,a key factor that is aiding sentiment among Indian manufacturers is the expectation of further monetary easing.… Continue reading India’s manufacturing sector growth inches up to 52.5 in July: PMI
Highly gratified by cooperation from ‘great friend’ India on Iran: U.S.
The United States has praised India for cooperating in enforcing the oil sanctions on Iran. This statement came after India has brought down the import of oil from Iran to almost zero. The tensions between the US and Iran have started after US had withdrawn from the 2015 nuclear deal that aimed to curb Iranian… Continue reading Highly gratified by cooperation from ‘great friend’ India on Iran: U.S.
Motor Vehicles bill won’t usurp rights of states: Gadkari
The Rajya Sabha has cleared the Motor Vehicle (Amendment) Bill, 2019. The Bill seeks to amend the Motor Vehicles Act, 1988 It seeks to improve road safety through multifold increase in penalities for traffic violations. It also aims to streamline the licensing and road permit process. The Bill proposes a National Transportation Policy for ushering… Continue reading Motor Vehicles bill won’t usurp rights of states: Gadkari
What the Bill to curb Ponzi schemes says
The Rajya Sabha has passed the Banning of Unregulated Deposit Schemes Bill, 2019. It seeks to tackle the problem of illicit deposit taking activities in India and protect the interests of depositors. According to the bill, a scheme is unregulated if it is not registered with the regulators listed in the Bill. There are several… Continue reading What the Bill to curb Ponzi schemes says
Thailand in talks with India to buy Brahmos cruise missiles
According to media reports, Thailand is in talks with India over purchasing BrahMos supersonic cruise missiles. If the sale materialises, it will be the first export of the BrahMos missile by India. BrahMos missile is a 2.5 ton supersonic air to surface cruise missile with ranges of close to 300 km. BrahMos is a joint… Continue reading Thailand in talks with India to buy Brahmos cruise missiles
Indonesian Villagers resist relocation plan from Komodo
Villagers on the island of Flores, which is the gateway to Komodo National Park are resisting an Indonesian government plan to relocate them as part of efforts to conserve Komodo dragons. Recently, Indonesian authorities said the island of Komodo would be closed in 2020 to allow for the recovery of the reptiles and the Komodo… Continue reading Indonesian Villagers resist relocation plan from Komodo
Atal Innovation Mission (AIM) launches Atal Community Innovation Centre (ACIC) Program
The Union Minister of Petroleum & Natural Gas and Steel has launched the Atal Community Innovation Centre(ACIC) program.This program is a new initiative under Atal Innovation Mission(AIM). The new initiative will aim to encourage the spirit of innovation in the country’s specific areas that lack the required infrastructure and facilitating innovation ecosystem. The purpose of… Continue reading Atal Innovation Mission (AIM) launches Atal Community Innovation Centre (ACIC) Program
Cabinet approves ISRO Technical Liaison Unit at Moscow
The Union Cabinet has approved the setting up of Indian Space Research Organisation(ISRO)’s Technical Liaison Unit(ITLU) in Moscow, Russia. The establishment of this unit will help ISRO to collaborate with Space agencies/industries in Russia and neighbouring countries for mutually synergistic outcomes. Further,this unit will also help in ISRO’s Gaganyaan programme which requires development of some… Continue reading Cabinet approves ISRO Technical Liaison Unit at Moscow
