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PeakMetrics / Fact Checks

Economy & business fact checks

Explore claims publishers have checked about economy & business. Read their original ratings and follow the evidence.

7,099 published reviews in this topic

FACTLYEconomy & business

Photos show agriculture produce being marketed in Ambani’s Jio company bags

Publisher’s rating: FALSE

The claim concerned social-media photos of agricultural produce in sacks marked with the Jio logo. The post linked the images to the farm laws and called for a boycott of Ambani. FACTLY investigated whether the bags showed produce being marketed under a Reliance Jio agricultural brand, rather than merely bearing its logo. The review concluded that it found no such Jio brand and described Jio as primarily dealing in digital services, not agricultural produce. (S1)

Fact CrescendoEconomy & business

Claim: Annamalai comment on fuel price hike was misunderstood

Publisher’s rating: Partly False

Fact Crescendo investigated social-media posts attributing to BJP politician Annamalai the statement that rising petrol and diesel prices did not affect the public, but harmed petrol-pump owners. The review says it received the claim from a reader and found similar posts on Facebook. Its focus was whether Annamalai had actually made the quoted pump-owner remark.

Vishvas NewsEconomy & business

అదానీ విల్మార్ మరియు ఫార్చ్యూన్ చక్కి ఫ్రెష్ పిండి ప్రకటనలతో కూడిన రైలు ఆదానీకి అమ్ముడైందనే వాదనతో వైరల్ వీడియో షేర్‌ చేయబడుతోంది. ఈ వీడియోను షేర్ చేసిన మరియు తన అసమ్మతిని వ్యక్తం చేసిన అనేక మంది యూజర్లలో ఫేస్‌బుక్ యూజర్ విబి సునీల్ ఒకరు

Publisher’s rating: FALSE

The viral video showed a locomotive carrying Adani Wilmar and Fortune Chakki Fresh branding. The claim attached to it was that Indian Railways had sold the train to Adani; the review also identifies Facebook user VB Sunil among those who shared the video and voiced disagreement. The investigation found that the locomotive was not sold to Adani: the branding was advertising on a Western Railway locomotive. To check the claim, Vishvas News says it contacted Indian Railways public relations officer Anil Saxena, who shared a Financial Express report and described the locomotive as branded. The review also examined the video itself, noting signage for Vadodara and Adani Wilmar at the front of the engine. Because Vadodara is within Western Railway’s area, the outlet contacted Western Railway PRO Khemraj Meena for further confirmation. Meena told the outlet that private companies can advertise products on locomotives under contract and rejected the suggestion that the railway had been sold. The review adds that locomotive branding had been introduced to generate railway revenue and mentions advertisements for other brands. It also reports that Adani Wilmar branding had been allocated for a locomotive in Vadodara. The distinction is central: the evidence describes a railway locomotive carrying paid commercial branding, not a train owned by Adani.

Vishvas NewsEconomy & business

Several pictures of food grain sacks with Jio logo are viral on social media with a claim that Ambani had procured them from farmers in cheaper rates for selling

Publisher’s rating: FALSE

The claim concerned viral pictures of food-grain sacks bearing the Reliance Jio logo, said to show that Mukesh Ambani had procured grain from farmers at cheaper rates for sale. The review places the posts amid the farmers’ movement on the borders of the national capital and reports that similar claims circulated in different Indian languages. It says the investigation found the claim false, while the excerpt does not establish who made the sacks or where the images originated. [S1: “Amid the farmers’ movement on the borders of the country’s capital, viral pictures of foodgrain sacks with Reliance Jio logo is viral on social media with a claim that Mukesh Ambani has procured for cheaper rates.”; “We found such similar claims shared in different Indian languages like Hindi and Tamil.”] To check the allegation, the review says it searched Jio and Reliance’s official websites for information about a new food-product launch. It found no authentic source confirming the viral claim. It then contacted Tushar Pania, Reliance Industries Limited’s vice-president for corporate communications; Pania denied the claim. The review also reports that Franco William of Reliance Jio refuted the posts and warned of misuse of the company’s brand name. These denials and the absence of confirmation are the stated basis for the review’s conclusion; the excerpt does not describe independent verification of the sacks or their contents. [S1: “Vishvas News first searched on the official Jio and Reliance website for information about new food product launch.”; “we did not find any authentic sources confirming the viral claim.”; “Vishvas News contacted Tushar Pania, vice-president, corporate communications at Reliance Industries Limited, for verification. Pania denied the claims and said the viral posts are fake. Franco William of Reliance Jio also refuted the claims and alerted that people are misusing their brand name.”]

Fact Crescendo Sri LankaEconomy & business

කාන්තාවන්ගේ සනීපාරක්ෂක තුවා සඳහා 15%ක නව බද්දක් 2021 අයවැයෙන් යොජනාවී තිබුනාද? | Missing Context Claims on 15% Tax imposed on Ladies Sanitary Napkins

Publisher’s rating: Missing Context

The review investigates social-media and media claims that Sri Lanka’s 2021 budget introduced a new 15% tax on women’s sanitary napkins. It reports that the claim arose from a change to the existing import-tax structure: the 30% import duty was reduced to 15%, while a 15% CESS levy was added. The review says that this was not a newly imposed 15% tax in the way the circulating posts suggested. To check the claim, the publisher says it contacted the media office of State Minister Ajith Nivard Cabraal. That office described reports of a new 15% tax as false and explained the change as a reduction in import duty alongside a CESS levy. The review also recounts a televised discussion on Derana’s “Vadapitiya” on 24 November 2020: MP Harsha de Silva and State Minister Shehan Semasinghe reportedly said there was no new tax, but a change in the existing tax components. There is an important qualification to the government representatives’ account. The review reports that Advocata Institute calculated the combined change as a marginal increase in the overall tax burden, from 52% to 53.6%, or 1.6 percentage points. It attributes the difference to how the duties are calculated. Thus, the evidence supports the distinction between adding a new 15% levy and changing the existing tax mix, but does not support an unqualified claim that the change had no tax effect at all.

YouturnEconomy & business

படத்தில் நீங்க பார்ப்பது அம்பானி ரிலையன்ஸ் ஜியோ jio பருப்பு மூட்டை. வெயில் மழை என்று பாராமல் விதைத்து அறுவடை செய்து விற்க சென்றால் தரம் சரியில்ல, நிறம் சரியில்லை, விலை போகாது என்று கூறி குறைந்த விலையில் வாங்கி அதிக விலையில் விற்க கார்ப்பரேட் நிறுவனங்கள் போட்டி போட்டுக் கொண்டு இருக்கிறது. மேலும் அடுத்த விளைச்சலுக்கு என்ன விதைக்க வேண்டும் அதையும் எங்கு வாங்க வேண்டும் என்று உத்தரவு போடும் அளவிற்கு கார்ப்பரேட் நிறுவனங்கள் விவசாயத்தில் தலைதூக்கியுள்ளது. இதை சட்டரீதியாக அனுமதிப்பது தான் வேளாண் சட்டம். இது போதாதென்று அனைத்து விதைகளுக்கும் காப்புரிமை என்ற பெயரில் அடிமைப் படுத்தும் வேலையில் இறங்கியுள்ளது கார்ப்பரேட் நிறுவனங்கள். காப்புரிமை பெற்ற விதைகளை கார்ப்பரேட் நிறுவனங்களின் அனுமதியில்லாமல் பயன்படுத்த விவசாயிகளுக்கு அனுமதி கிடையாது. மீறினால் அவர்கள் மீது சட்ட ரீதியான நடவடிக்கை எடுப்பார்கள் மற்றும் கோடிக்கணக்கில் நஷ்டஈடு கேட்டு வழக்கு தொடர்வார்கள். விவசாயத்தை கார்ப்பரேட் நிறுவனங்களுக்கு விற்பது தான் இந்த வேளாண் சட்டம் என்றால் விவசாயிகள் அதை எதிர்ப்பதில் தவறில்லை. நாம் அவர்களுடன் இணைந்து எதிர்க்காமல் இருப்பதுதான் தவறு. கார்ப்பரேட் நிறுவனங்கள் விவசாயத்தை தன் கட்டுப்பாட்டுக்குள் வைத்து இருந்தால் இன்று பெட்ரோல் டீசல் விலை தினம் தினம் விலை ஏறுவது போன்று அரிசி பருப்பு காய்கறி களும் தினம்தினம் கட்டுப்பாடு இன்றி விலை ஏறும்.

Publisher’s rating: Fake

Vishvas NewsEconomy & business

कॅडबरी इंडिया आपल्या ७०व्या वर्धापन दिन साजरा करत आहे आणि त्या निमित्त लोकांना फ्री चॉकलेट बास्केट गिफ्ट हॅम्पर देत आहे.

Publisher’s rating: FALSE

The claim concerned a message circulating in India that said Cadbury India was celebrating its 70th anniversary and giving away free chocolate-basket gift hampers through a link. Vishvas News reports that readers sent the message for review and that its investigation found the post was not an authentic Cadbury promotion. The article says the linked offer was not issued by the company and warns that the link could be a scam. To check the offer, Vishvas News says it contacted Mondelez India, which makes Cadbury products in India. The company’s response said it had not created the viral post, was not offering the hampers, and urged people not to click the link or provide personal details. The article also says the link was not a Mondelez International link and that it prompted users to download an extension, which could expose data on the device. The anniversary claim was also addressed directly: the investigation states that the company was not completing 70 years in 2020 and had issued no such offer. As additional evidence, Vishvas News describes finding a 2018 Facebook exchange in which Cadbury responded to a user’s question about the message, saying it was not a Cadbury promotion and advising customers to be cautious. Together, the company’s denial, the link’s reported behavior, and the earlier response support the conclusion that the message did not describe a genuine anniversary giveaway.

Fact Crescendo Sri LankaEconomy & business

ඕනෑම බැංකු කාඩ් පතකින් කිසිම ගාස්තුවකින් තොරව ATM යන්ත්‍රවලින් මුදල් ලබා ගැනීමේ හැකියාවක් නැත! ATM fee charged for other bank transactions remains as Rs.30

Publisher’s rating: False

The review investigated posts claiming that people could use bank cards to withdraw cash from ATMs without paying a fee, including when using an ATM belonging to another bank. It says it checked whether such a nationwide fee-free arrangement had actually been introduced, rather than whether card withdrawals were generally possible: “ඕනෑම බැංකු කාඩ් පතකින් කිසිම ගාස්තුවකින් තොරව ස්වයංක්‍රීය මුදල් ආපසු ගැනීමේ (ATM) යන්ත්‍රවලින් මුදල් ලබා ගැනීමේ හැකියාව දැන් උදා වී ඇති බවට ෆේස්බුක් හරහා හුවමාරු වන්නේ සම්පුර්ණයෙන්ම අසත්‍ය පුවතක් වන බව අපට තහවුරු වුනා.” For its check, the publisher contacted Channa de Silva of Lanka Clear, the organization described as handling interbank ATM connectivity through Lanka Pay. According to the review, he said banks charged the fees for interbank ATM withdrawals and had not decided to remove them. He also said a possible reduction—from Rs. 30 to around Rs. 15—was under consideration, which is not the same as a fee waiver: “ඔහු පැහැදිලිව ප්‍රකාශ කලේ මෙසේ බැංකු අතර ATM යන්ත්‍ර මගින් මුදල් ලබා ගැනීමේ දී සියලුම ගාස්තු අය කරන්නේ බැංකු මගින් බවත් ඔවුන් එම ගාස්තු අඩු කිරීමට කිසිම විටෙක තීරණයක් ගෙන නොමැති බවයි.” The review adds that the Lanka Clear FAQ listed Rs. 30 for using another bank’s ATM: “වෙනත් බැංකුවක ATM යන්ත්‍රයක් භාවිතයේදී අයවන මුදල රුපියල් 30ක් බව එහි පැහැදිලිව ම දක්වා තිබුනා”. The review also says the Central Bank told it no decision to eliminate the fees had been made. It describes a possible source of confusion: a radio interview with bankers’ association chairman Lakshman Silva concerned relief on loan-related charges, and the review says the discussion did not state that interbank ATM fees had been removed. Its conclusion was that the usual Rs. 30 charge for withdrawing through another bank’s ATM remained in effect: “වෙනත් බැංකුවක ATM යන්ත්‍රයක් හරහා මුදල් ලබාගැනීමේදී සාමාන්‍යයෙන් අයවන මුදල රුපියක් 30ක් වන අතර එය තවදුරටත් ක්‍රියාත්මකය.”

Vishvas NewsEconomy & business

A viral video allegedly of a train with exterior displays advertising Adani Wilmar and Fortune Chakki Fresh Flour is shared with a claim that it has been sold to Adani.

Publisher’s rating: FALSE

The claim concerns a video of an Indian train locomotive displaying Adani Wilmar and Fortune Chakki Fresh Flour branding. It was shared as evidence that Indian Railways had sold the train to Gautam Adani. Vishvas News reports that the locomotive was operated by Western Railways and that the claim of a sale was false; the branding was advertising, not ownership. The review states that Railways introduced locomotive branding to generate income and that other brands, including Amul, had also advertised on trains. (S1) To check the claim, the review says it contacted Anil Saxena, a public relations officer for Indian Railways. Saxena pointed to a Financial Express article and described the locomotive as a branded Indian Railway locomotive. The review also says it examined the video, which identified Vadodara and showed “Adani-Wilmar” on the engine. Because Vadodara falls under Western Railway, it sought further verification from Western Railways PRO Khemraj Meena. Meena said private companies could advertise products under contract and rejected the inference that the railway had been sold to Adani. (S1) The key distinction in the investigation is between a company paying for branding on a locomotive and acquiring the train or railway. The review reports an advertising arrangement in Vadodara, not a transfer of ownership. It concludes that the video shows a branded locomotive and that the sale claim misrepresents what the branding establishes. (S1)

FACTLYEconomy & business

West Bengal has a public debt of Rs. 400,31,900 crores (400 lakh crores)

Publisher’s rating: MISLEADING

The post claimed that West Bengal’s public debt was Rs. 400,31,900 crores, or 400 lakh crores. FACTLY compared that figure with West Bengal’s outstanding liabilities in figures it attributed to the Reserve Bank of India (RBI), including reported 2019 data and subsequent budget estimates. The review says the 2019 figure was Rs. 4,04,735.9 crores—not 400 lakh crores—and that the 2020 revised estimate and 2021 budget estimate were Rs. 4,47,602.3 crores and Rs. 4,90,647.3 crores, respectively. Those amounts are around 4–5 lakh crores, far below the post’s stated 400 lakh crores. On that comparison, the specific amount asserted in the post is not supported by the figures presented in the review. The article also notes that other states, including Uttar Pradesh and Maharashtra, had higher outstanding liabilities than West Bengal; it does not use that comparison to establish that West Bengal had no substantial debt. The review distinguishes the size of a state’s liabilities from its debt relative to the size of its economy. It reports West Bengal’s outstanding liabilities as a percentage of GSDP as 37.1 for 2019, then 35.7 in the 2020 revised estimate and 34.7 in the 2021 budget estimate. Thus, the correction concerns the post’s extraordinary debt amount; the review also describes West Bengal’s debt-to-GSDP ratio as high compared with other major states.