Earth Science Research Gets a Boost: Cabinet Approves Rs 4,797 Crore for PRITHVI Scheme
The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved a new scheme to boost research and development in the field of earth sciences. The scheme, named PRITHVI (PRITHvi VIgyan), will be implemented by the Ministry of Earth Sciences (MoES) during the period from 2021-26 at an overall cost of Rs 4,797 crore. PRITHVI: […]
SEBI Reinforces Ban on Naked Short Selling and Day-Trading; Enhances Disclosure Rules
The Securities and Exchange Board of India (SEBI) has announced major reforms in the trading rules to curb market manipulation and enhance transparency. The regulator has reiterated its ban on naked short selling, where the seller does not own the stock at the time of the trade, and has prohibited day trading by institutional investors, […]
India’s Expectation: ₹33,343 Crore Investment and 3 Lakh Jobs from 91 Coal Mines Auction
The Ministry of Coal, Government of India, has launched the ninth round of commercial coal mine auctions on December 20, 2023, offering up to 26 blocks to bidders. This is the latest in a series of auctions that aim to make India self-reliant in the energy sector and create employment opportunities for millions of people. […]
Central Electricity Regulator’s New Tariff Norms: Analysts Predict Positive Impact on Power Sector
The Central Electricity Regulatory Commission (CERC) has recently unveiled its draft tariff regulations for the period 2024-29, which are expected to have a positive impact on the power sector players, especially the thermal power generators and transmission companies. The draft regulations aim to improve the operational efficiency, financial viability and environmental performance of the power […]
Centre’s Proposed Increase of Rs 12-14k Crore for MGNREGS This Fiscal
The Centre has sought the approval of the Parliament to spend an additional Rs 14,524 crore on the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) in the current financial year, 2023-24. This is part of the first batch of supplementary demands for grants, which seeks permission to spend a gross Rs 1.29 lakh crore […]
Highway Construction in FY24: Road Ministry’s 13,814 km Target
The Ministry of Road Transport and Highways (MoRTH) has set an ambitious target of constructing 13,814 km of national highways in the financial year 2023-24, which is higher than the previous year’s achievement of 13,327 km. The ministry is confident of meeting this target despite the challenges posed by the covid-19 pandemic and the rising […]
India’s Path to Becoming a Global Gaming Nation: A Decade-Long Prediction by Nitish Mittersain
India is on the brink of becoming a global gaming powerhouse, a transformation predicted by Nitish Mittersain, the joint MD and CEO of Nazara Technologies. The country’s gaming industry is evolving rapidly, driven by a combination of technological advancements, increasing adoption among consumers, and the burgeoning demand for mobile gaming. As of now, India boasts […]
Ordinance to Amend Kerala’s GST Law on Gambling Signed by Governor
The Kerala Governor Arif Mohammed Khan has signed an ordinance amending the state GST law on gambling, online gaming and horse racing. The ordinance was promulgated by the state government after the 50th Goods and Service Tax (GST) Council meeting had fixed 28 per cent GST on gambling at casinos, horse racing and online gaming […]
RBI Updates Definition of Politically-Exposed Persons for KYC Norms
The Reserve Bank of India (RBI) has revised the definition of politically-exposed persons (PEPs) for the purpose of Know Your Customer (KYC) norms. The new definition is based on the recommendations of the Financial Action Task Force (FATF), an inter-governmental body that sets standards for combating money laundering and terrorist financing. Who are PEPs? According […]
COAI Advocates for OTT Players to Contribute to Network Costs
The Cellular Operators Association of India (COAI), the industry body representing telecom operators, has urged the government to create a regulatory framework that would require over-the-top (OTT) players to share the network costs of telecom firms. OTT players are those who provide online services such as messaging, video streaming, gaming, etc. over the internet without […]