Indian Government Boosts Interest Rates on Key Savings Schemes Ahead of 2024
In a recent move by the Indian government, a hike in interest rates on two key small savings schemes was announced, signaling a continued trend of incremental increases in savings interest rates. This decision, taken as the nation heads towards the year 2024, marks the sixth consecutive quarterly increase since the latter part of 2022. […]
Funding Freeze: Indian Startups Face 73% Plunge, Knocked Down to 5th Globally
In 2023, India’s tech startup ecosystem faced a significant downturn, marking the lowest level of funding in the last five years. A report by Tracxn revealed a 72% decrease in funding, totaling $7 billion, down from $25 billion in 2022. This decline has led to India dropping from 4th to 5th place in global funding […]
Beyond Roti: PLI Attracts 30 Companies to Innovate with Millet-Based Products
India has witnessed a significant development in the food processing industry with around 30 companies, including 22 micro, small, and medium enterprises (MSMEs), actively participating in the Production-Linked Incentive (PLI) scheme for manufacturing millet-based products. This initiative is spearheaded by the Ministry of Food Processing Industries. The PLI for Millet Based Products (PLISMBP) scheme, approved […]
Fueling Efficiency: Government Cracks Down on Pipeline Expenses with Gati Shakti
In a significant development, the Ministry of Petroleum and Natural Gas in India is set to substantially reduce expenditure on gas pipeline construction by leveraging the PM Gati Shakti National Master Plan (PMGS-NMP). This initiative represents a transformative approach to integrated and holistic planning across various ministries, aiming to improve multimodal connectivity, logistics efficiency, and […]
A Thank You from FM: Kotak’s Plan Sparks Debate on India’s Economic Trajectory
Veteran banker Uday Kotak, Founder and Director of Kotak Mahindra Bank, has ignited the national imagination with a bold proposal: propelling India’s GDP to a staggering $30 trillion by 2047, coinciding with the centenary of its independence. This ambitious vision, outlined in a recent social media post, has garnered considerable attention and even a warm […]
Boom in Mineral Block Auctions: Government Records 76 Deals This Year
In a significant development in the mineral sector, the Indian government announced that a total of 76 mineral blocks have been auctioned in the year 2023. This count includes 30 mineral blocks that were specifically auctioned for mining leases, while the remaining 46 blocks were sold as composite licenses. A mining lease is a type […]
ABRY Triumphs: Over 7.5 Million Jobs Created, Exceeding Targets
In an impressive milestone for India’s employment sector, the Aatmanirbhar Bharat Rozgar Yojana (ABRY) has surpassed its employment generation target, marking a significant success in fostering job creation and aiding recovery during the COVID-19 pandemic. Launched on October 1, 2020, the ABRY was strategically designed to spur new job opportunities by providing financial support to […]
India’s AI Leap: Responsible Practices Now a Focus for Businesses, Says Nasscom
Indian businesses are increasingly adopting Responsible Artificial Intelligence (RAI) practices, a trend underscored by a recent survey conducted by Nasscom, the prominent tech industry body. The survey, which highlights the growing importance of ethical and secure AI deployment, revealed that around 60% of businesses in India either have matured RAI practices and policies in place […]
Boosting India’s 5G Revolution: DoT Plans Fresh Auction of Spectrum by February
The Department of Telecommunications (DoT) in India is gearing up to conduct the next round of 5G spectrum auctions, slated for January-February 2024. This upcoming auction is expected to be significant, although the intensity of bidding might not reach the levels seen in previous auctions. Key Points of the Upcoming 5G Auction: Auction Scale and […]
IRDAI Deadline Missed? Life Insurers Want More Time for Surrender Fee Analysis
Recent developments in the Indian life insurance sector indicate a significant shift in policy surrender fees, a move that has prompted life insurance firms to seek more time from the Insurance Regulatory and Development Authority of India (IRDAI) to assess the implications. IRDAI has proposed changes to the surrender value of non-linked life insurance policies, […]