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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.

7,104 published reviews in this topic

YouturnEconomy & business

டிசம்பர் 31-ம் தேதிக்குள் எஸ்.பி.ஐ வாடிக்கையாளர்கள் தங்களின் டெபிட் மற்றும் கிரெடிட் கார்டுகளை வங்கியில் சென்று மாற்றிக் கொள்ளவும். 2019 ஜனவரி 1-ல் இருந்து பழையக் கார்டுகள் செயல்படாது என அறிவிக்கப்பட்டுள்ளது.

Publisher’s rating: True

FACTLYEconomy & business

The Minimum Support Price (MSP) for Wheat has been more than doubled, from Rs 640 per quintal in 2004-05 to Rs 1,285 in 2011-12. Similarly, the MSP for Paddy has been increased from Rs 560 in 2003-04 to Rs 1250 per quintal in 2011-12.

Publisher’s rating: TRUE

The claim concerns two specific comparisons of minimum support prices (MSPs) during the Congress-led UPA period: wheat from Rs 640 per quintal in 2004–05 to Rs 1,285 in 2011–12, and paddy from Rs 560 in 2003–04 to Rs 1,250 in 2011–12. FACTLY’s review checked the figures against MSP data in the Directorate of Economics and Statistics and Reserve Bank of India handbooks, and also identified government Open Government Data records covering 2003–2012. The review finds that the wheat figures match the data: MSP rose from Rs 640 per quintal in 2004–05 to Rs 1,285 in 2011–12. The paddy comparison, however, does not match the stated years and starting value. The review reports Rs 550 per quintal for paddy in 2003–04 and Rs 1,080 in 2011–12. It says the claim’s paddy numbers correspond instead to 2004–05 and 2012–13. The paddy figures as presented in the claim therefore give a misleading impression of the year-to-year comparison, even though the review’s conclusion treats the cited numbers as correct while noting the qualification. The review also puts the figures in a broader comparison of percentage increases. It reports that wheat and common paddy MSPs each increased by more than 60% during UPA’s first term; during UPA’s second term, wheat rose by 27% and paddy by 25%. It notes that its paddy prices refer to common paddy, not grade ‘A’.

RMIT ABC Fact CheckEconomy & business

"In four years we have more than tripled Victoria's share of Chinese investment in Australia."

Publisher’s rating: Fair call

Daniel Andrews made the claim in October 2018 while announcing Victoria’s memorandum of understanding with China’s Belt and Road Initiative. The claim concerned Victoria’s share of Chinese investment in Australia—not simply the dollar amount of investment received by Victoria. The review compared state-level figures from two databases: KPMG’s Demystifying Chinese Investment in Australia and the Australian National University’s Chinese Investment in Australia database. The review notes that state-level data was limited and that the databases had some methodological differences. KPMG estimated that Victoria received $757 million of $9.46 billion in Chinese investment in Australia in 2014, an 8 per cent share. Its June 2018 report put Victoria’s 2017 share at 36 per cent, based on $4.72 billion of $13.35 billion nationally. The ANU database showed a three-fold increase in Chinese investment between 2014 and 2017, though it placed the large spike in a different year. On the figures examined, the claim about the state’s share increasing more than threefold was supported. The comparison needs qualification. The review describes Chinese investment as fluctuating substantially year to year, and explains that the 2017 increase in Victoria’s share—from 25 to 36 per cent—was entirely underpinned by one $3.4 billion acquisition: Chinese coal company YanCoal’s purchase of Rio Tinto subsidiary Coal & Allied Industries. Because Rio Tinto was headquartered in Melbourne, the investment was attributed to Victoria, although the acquired coal assets were in NSW. The review also cautions that a rising share of the national total indicates Victoria’s performance relative to other states, not necessarily a comparable increase in the dollar value of investment flowing to Victoria.

FACTLYEconomy & business

Domestic air passengers crossed 100 million for the first time.

Publisher’s rating: TRUE

The claim concerns whether domestic air passenger traffic in India passed 100 million for the first time. FACTLY checked figures for the 2016–17 year and separately considered calendar-year 2017 data. It reports that a government answer in the Lok Sabha gave 103.75 million domestic passengers for 2016–17, already above the threshold. The review also cites Directorate General of Civil Aviation data: domestic airlines carried 117.17 million passengers from January through December 2017. These are figures for two different reporting periods, and both exceed 100 million; the 2016–17 figure is the one the review identifies as the first crossing. On that basis, FACTLY concludes that the threshold was crossed for the first time in 2016–17. It also reports that domestic air traffic grew by more than 20% in each of 2015–16 and 2016–17. The excerpt does not provide the underlying government answer or DGCA table, so those source documents cannot be independently examined from the supplied material.

FACTLYEconomy & business

For the first time ever in India, more people traveled in airplanes than in AC trains.

Publisher’s rating: TRUE

The claim concerned whether airplane passenger traffic in India had surpassed passenger traffic in air-conditioned train classes for the first time. FACTLY examined passenger figures for 2016–17 and reported 1,586.2 lakh airplane passengers, compared with 1,444.6 lakh AC-train passengers. Those figures show airplane traffic was higher by 141.6 lakh passengers for that year. The review explicitly identifies this comparison as the basis for its finding. [S1: “Fact: In the year 2016-17, more people (1586.2 lakh) have traveled by airplanes as compared to (1444.6 lakh) people who traveled by AC trains. Hence, the claim is TRUE.”] The comparison combines domestic and international air passenger traffic, rather than domestic flights alone. For railways, FACTLY counted passengers in AC First Class, AC Sleeper Class, AC 3 Tier and AC Chair Car. These definitions matter: the claim is about total airplane traffic compared with the specified AC classes, not a comparison limited to domestic air travel or to all train passengers. [S1: “Total passenger traffic of the AC class is calculated by including the traffic in AC First Class, AC Sleeper Class, AC 3 Tier & AC Chair Car. Total passenger traffic of Airlines is calculated by including both domestic & international passenger traffic.”] The review’s “first time” conclusion rests on its comparison of annual air and AC-train passenger data from 2012–13 through 2016–17, alongside the reported 2016–17 totals. The excerpt does not provide the year-by-year figures or explain whether the comparison adjusts for differences in how the two systems count passengers. The documented result therefore supports the claim as framed using FACTLY’s stated categories and data, while those methodological details define the scope of the finding. [S1: “To verify this claim, the passenger data provided in the annual reports of the DGCA were compared with data provided in the statistical statements of the Indian Railways.”; “This data was aggregated to find the number of people who travelled by AC class in trains between 2012-13 and 2016-17.”]

NewtralEconomy & business

(En Andalucía) cobramos 210 euros menos que en el resto del país

Publisher’s rating: Verdadero

The claim concerns a statement by Adelante Andalucía candidate Teresa Rodríguez during a televised debate on Canal Sur on the night of 19 November. Newtral says Rodríguez stated that people in Andalusia earn 210 euros less than the national average, and reports that it checked the debate live through its Twitter account. The article compares 2017 monthly gross wage figures from Spain’s Labour Force Survey (EPA): 1,681 euros for Andalusia and 1,889 euros for Spain as a whole. Those figures put the national average 208 euros above Andalusia, close to Rodríguez’s rounded figure of 210 euros. The article therefore treats the claim as accurate. It also supplies a qualification: Andalusia did not have Spain’s lowest average wage. It lists lower figures for the Valencian Community (1,677.8 euros), the Canary Islands (1,606.6 euros) and Extremadura (1,583.4 euros).

NewtralEconomy & business

El Impuesto sobre Actos Jurídicos es del 0,1% en Madrid

Publisher’s rating: Falso

The claim concerns a comparison made by Juanma Moreno while campaigning for president of Andalusia: he said he would reduce the tax from 1.5% to 0.1%, which he described as Madrid’s rate. Newtral says he made the statement during a four-candidate debate on Canal Sur on the night of November 19. Its review therefore addresses the same Madrid rate and the political statement behind the claim. (S1: “Juanma Moreno, candidato a la presidencia de la Junta de Andalucía por el Partido Popular, ha prometido bajar ‘el impuesto de actos jurídicos documentados del máximo en el que está ahora, del 1,5% al 0,1% que lo tiene la Comunidad de Madrid’.”; “Juanma Moreno realizó esta afirmación durante el debate a cuatro celebrado en Canal Sur, la noche del 19 de noviembre”.) The decisive comparison in the review is that Madrid’s general rate was 0.75%, not the 0.1% Moreno attributed to the region. Newtral identifies the latest report from the Registry of Tax Advisers (REAF) as the basis for that figure. The excerpt does not provide the report itself or further detail about its data, so the rate comparison is supported here by Newtral’s account of that source. (S1: “según el último informe del Registro de Economistas Asesores Fiscales, el tipo general de la Comunidad de Madrid es del 0,75%.”; “Fuentes: Dato suministrado desde el Registro de Economistas Asesores Fiscales (REAF).”) Newtral also says its team checked Moreno’s statement live through Twitter. The excerpt does not describe any additional verification method or provide the underlying debate recording, so it supports the debate setting and the reported REAF-based rate comparison, but not an independent examination of the original video or report. (S1: “que el equipo de Newtral verificó en directo a través de Twitter.”)

FACTLYEconomy & business

Produce worth 41,591k crore rupees has been transacted through Mandis

Publisher’s rating: UNVERIFIED

The claim concerned e-NAM, an electronic trading portal linking agricultural markets. It combined three figures: produce worth 41,591K crore rupees transacted, 417 mandis, and 87.5 lakh farmers and sellers registered. The review checked the mandi and registration figures against government responses and the e-NAM website, but said public-domain data did not allow it to verify the transaction amount. A government response to a Lok Sabha question in March 2018 described e-NAM as a portal networking existing APMC mandis. It reported that the platform had been deployed in 551 regulated wholesale markets across 15 states and two Union Territories. The review also compared the claim’s mandi count with the e-NAM website, which listed 585 mandis in states and Union Territories. For registrations, the review cites a separate Lok Sabha response reporting 1,11,80,475 farmers registered on e-NAM across 16 states and two Union Territories by July 2018. That figure supports the claim’s registration component, while the mandi evidence differs from the claim’s 417 count. The review’s key qualification is that the transaction amount remained unverified because the relevant data was not publicly available; it did not establish that the claimed amount was false.

FACTLYEconomy & business

417 Mandis and 87.5 lakh farmers and sellers registered.

Publisher’s rating: TRUE

The claim is about two figures in a government infographic on e-NAM: 417 mandis and 87.5 lakh farmers and sellers registered. The review treats these as separate from the infographic’s transaction-value figure, which it says could not be verified from public data. To check the mandi figure, the review consulted the e-NAM website and compared it with government information. It reports that a government response to a Lok Sabha question said e-NAM had been deployed in 551 regulated wholesale markets across 15 states and two Union Territories as of March 2018. The website listed 585 mandis. These reported totals exceed the infographic’s 417. For registrations, the review cites a separate Lok Sabha response: 1,11,80,475 farmers across 16 states and two Union Territories were registered by July 2018. That is higher than the infographic’s 87.5 lakh. The review therefore judged the mandi and registration components TRUE, while distinguishing them from the transaction amount, which it said remained unverified. Its cited figures support the two registration-related claims, though they are later totals than the smaller figures in the claim.