Empowering State Development: Centre’s Additional Rs 72,961 Crore Allocation
The distribution of this additional installment varies significantly among states, with the highest amount of Rs 13,088.51 crore being allocated to Uttar Pradesh. This is followed by Bihar receiving Rs 7,338.44 crore and West Bengal getting Rs 5,488.88 crore
Charting India’s Growth: The Strategic Rs 109 Trillion Infrastructure Investment
The NIP covers both brownfield and greenfield infrastructure projects with individual costs above Rs 100 crore. These projects are spread across both economic and social infrastructure segments.
Indian Government’s Bold Move: Monthly Review of Top 20 Insolvency Cases by State-Run Banks
Over Rs 7 lakh crore worth of bad debt was written off between 2019 and 2023. However, the recovery rate has been low. In 2023, out of Rs 6.5 lakh crore worth of stuck assets, only about 15% (Rs 94,000 crore) was recovered, with a significant portion coming through the IBC route.
Parliament Approves Crucial GST Tribunal Amendments, Enhancing Appellate System
The recent passage of the Central Goods and Services Tax (Second Amendment) Bill, 2023, by the Indian Parliament marks a significant step in strengthening the GST Appellate Tribunals (GSTAT). The bill was passed by the Rajya Sabha after being cleared by the Lok Sabha.
Empowering Women Entrepreneurs: MSME Ministry Makes ZED Scheme Free
Under the ZED Scheme, MSMEs can avail of handholding and consultancy support up to Rs. 5 lakh per MSME. This support is crucial for assisting them in moving towards Zero Defect Zero Effect solutions.
RBI’s Proactive Measures to Safeguard Against Indirect Loan Risks
The central bank’s latest directive, aimed at curtailing the practice of “evergreening” of loans, marks a significant shift in the regulatory landscape of India’s financial sector.
The Dawn of Digital Trade: India and Korea Launch EODES
The India-Korea Electronic Origin Data Exchange System (EODES) was officially launched on December 6, 2023, marking a significant step in the trade relations between India and South Korea
ADB and India Partner for $250 Million Industrial Corridor Enhancement
This initiative is a continuation of the support provided by ADB for India’s industrial development, following a similar $250 million loan approved in October 2021.
SBI and ArSRLM Collaborate to Boost Financial Services for SHGs
This initiative is particularly geared towards 12,000 SHGs that have been fostered under the Deendayal Antyodaya Yojana National Rural Livelihood Mission (DAY-NRLM) in the state.
Apple’s Big Move: Foxconn to Start iPhone Production in Karnataka by 2024
Foxconn’s total investment in the facility now stands at approximately $2.7 billion. This includes the recent approval of an additional $1 billion specifically for the production of Apple products