Prime Minister Narendra Modi in his Independence Day speech highlighted the achievement of his government in delivering electricity and cooking energy to the deprived. He has promised time bound delivery of five crore LPG connections to the poor. Already, fifty lakh connections were given in the last 100 days. In the last few years, village electrificaiton is going at rapid pace. "Out of 18,000 villages, more than 10,000 villages have been electrified and I have been told they are with us, watching this celebration of Independence Day." - Modi has elaborated in his speech. On LPG, Government’s target is to give five crore connections in three years. The scheme of Pri
The UNIDO’s (United Nations Industrial Development Organization) industrial statistics 2016 says that India has climbed up three positions to become the sixth largest industrial country in the world during 2015. India was in the ninth position in the previous year. As per the new ranking, China is the largest industrial producer, topping the manufacturing value added (MVA) list pushing the US to the second position for the first time. UNIDO is the international policy research institution on industrial sector, bringing global developments in the sector. Its Industrial Development Report usually makes a comprehensive coverage of manufacturing sector development in the world.
The Ambani brother’s agreement to share resources and exchange circle benefits is a breakthrough development in India’s data delivery sector. With Mukesh Ambani’s 4G venture-Reliance Jio (RJio) is expected to take away a large volume of data thirsty customers in the country’s 100 mn strong mobile data market, the agreement will give it more power against the existing voice service providers. As part of the agreement, Reliance Jio will buy spectrum from Reliance Communication in nine circles by paying Rs 4500 immediate cash. RCom’s benefit is that it can use the amount to pay the license fee to TRAI. Besides, the deal makes the two to share s
Prime Minister’s much anticipated startup package was unveiled today with infusion of government funding, tax exemptions and freeing the sector from regulatory hassles. The progaramme also witnessed interaction between titans in the startup sector including the Softbank President Matayoshi Son and several others and large number of Indian startup entrepreneurs. Arranging a unique platform for startup promotion programmes indicated the importance that the government is extending to the sector. Prime Minister has declared Rs 10000 crore fund for the promotion of the sector. Besides the fund allocation, PM has also settled the capital gains tax imposed on startup investment b
Government has launched a new crop insurance scheme - Pradhan Mantri Fasal Bima Yojana with considerable improvement over the existing National Agriculture Insurance Scheme. The new scheme has a number of added features which may make agricultural insurance popular among the farmers besides extending more protection to them against calamities. Following are the main features of the Pradhan Mantri Fasal Bima Yojana: There is reduced premium for crop insurance: for Rabi crops 1.5%, Kharif crops 2% and for commercial/horticultural crops 5%. (Under NAIS, there was a cap on coverage implying that farmer can get only a fraction of the losses.) No cap on Premium: under the new scheme,
The first Socio Economic and Caste Census (SECC) of the country after independence come out with severe backward picture of the rural households. The previous SECC in the same nature was happened in 1934. The backward picture of the rural areas was elaborated in the Socio Economic and Caste Census 2011 (SECC) for rural households. SECC for rural areas was conducted by the Department of Rural Development was released by Union Finance Minister Arun Jaitley. The census has identified 17.91 crore as rural households, of the total 24.39 crores households in the country. The remaining are urban households. SECC 2011 has three census components which were conducted by three separ
The decades old MSME reservation policy or the goods reserved for the erstwhile Small Scale Industries has been removed. In the latest measure, government has removed twenty items including match box and fireworks which were reserved for the sector from the list. With this, the MSME reservation policy that the government has pursued over the last four decades comes to an end. The MSME reservation policy was aimed protect them from big industries. Reservation list included nearly three thousand goods in the early nineties when the policy of de-reservation was initiated. India has one of the largest MSME sector in the world providing employment, production and exports.
Pioneer of India’s Aviation sector –Tatas, is reentering to the country’s aviation sector. The business conglomerate has proposed a joint venture with Singapore airlines to the government. Tata is entering into the industry at a time when the domestic aviation sector is in turbulence and hence is on restructuring mode. Industry leader Kingfisher is in deep red and is on demise path. Aviation entrepreneurs like Captain GR Gopinath are expelled. Public sector giant Air India is having big losses, which is often covered by sovereign protection. Existing competitors are tiring because of declining revenues, increasing costs and investment requirements
The Delhi court has found that the rape and murder of the 23 year old Psychiatry student was a rarest of the rare cases and has awarded death penalty to the four people involved under it. The death penalty to the four is the biggest death sentence awarded in a single case in recent decades. The verdict comes amidst strong demand for maximum punishment to the culprits as well as to eliminate such incidents in future. An important side o the case was that it got global attention and the world was watching how India collectively- the judiciary, political system and the civil society -is able to handle the entire issue in bringing maximum protection to its women in future. Simila
The renovated luxury carmaker, British born and Indian owned, Jaguar and Land Rover has started its Chinese production plant at Changshu in the province of Jiangsu. The production plant was inaugurated by the Tata business conglomerate’s iconic leader -Ratan Tata. JLR is the wholly owned subsidiary of Tata Motors. The JLR’s renovation and transition from financial loss and fear of shut downs in many plants to luxury symbol of the emerging markets was an unbelievable one. Tata Motors brought the company by paying 1.5 bn British pounds. In 2011, the Company has made a pre-tax profit of 1.51 billion Britis
Dictionary on Indian Economy
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