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| Jan 01, 1970 | Daily Report |
| RISING BHARAT | News Count (102244) | |
22311. India ‘18-24 months behind schedule’ to achieve $5 trillion economy: Govt advisor Sanjeev Sanyal
- The government is at least 18-24 months behind schedule in becoming the $5 trillion economy that it had envisaged before the Covid-19 pandemic hit India and the rest of the world, and disrupted the growth momentum, Principal Economic Adviser Sanjeev Sanyal told
- The government had in early 2018 announced its vision to achieve the $5 trillion economy level by the 2025 fiscal, and had come out with a roadmap to achieve it. However, the domestic economy had started losing momentum with the GDP growth falling to four per cent in 2019-20.
- the Indian economy will grow between 8 and 8.5 per cent in 2022-23, amid expectations of recovery in momentum due to the benefits of the supply-side reforms announced by the Narendra Modi government in the past two years.
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22312. Adani Green Energy net up 20 per cent to Rs 49 crore in December quarter
- Adani Green Energy posted a nearly 20 per cent rise in its consolidated net profit to Rs 49 crore in the October-December quarter compared to the year-ago period mainly on the back of higher revenues.
- The company had reported a consolidated net profit of Rs 41 crore in the quarter ended on December 31, 2020, a BSE filing stated.
- Total income of the company rose to Rs 1,471 crore in the quarter from Rs 843 crore in the same period a year ago.
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22313. In a year, 25,000 km in highways; ropeways on public-private mode
- The national highways network will be expanded by 25,000 km during 2022-23 and the national ropeway development programme will be taken up in public-private partnership (PPP) mode under the banner of Parvatmala, Finance Minister Nirmala Sitharaman announced in her Budget speech.
- PM Gati Shakti Master Plan for Expressways will be formulated in 2022-23 to facilitate faster movement of people and goods. The national highways network will be expanded by 25,000 km in 2022-23
- The Budget has provided an enhanced outlay of Rs 1.99 lakh crore for the highways sector. Allocation of Rs 1.18 lakh crore was made for the sector for 2020-21, which was revised to Rs 1.31 lakh crore.
22314. Connectivity in Neighbourhood: New Bridge to strengthen connectivity between India and Nepal
- Construction of a motorable Bridge over the Mahakali River connecting Dharchula (India) with Darchula (Nepal) is expected to start soon.
- This bridge once completed will enhance cross border connectivity with Nepal in that area. The State government of Uttarakhand will start work on the bridge soon.
- on both sides of the border age old traditional, people-to-people and cultural links exist between communities.Also, this project is in line with the priority shared by governments of both countries. This will help in streamlining commercial, cultural and people-to-people exchanges.
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22315. Two longest Indian Railways’ flyovers being built in Katni, MP for smooth movement of coal-laden trains
- Longest Indian Railways flyovers coming soon! Two longest railway flyovers in the country are being built at the estimated cost of Rs 1,250 crore in the Katni district of Madhya Pradesh.
- These flyovers with a total length of 34.9 kilometres are being developed for the smooth movement of trains carrying coal, according to a railway official.
- The railway project worth Rs 1,250 crore was started in the year 2020 and the work on these flyovers is expected to be completed by 2023-24, the railway official said. So far, 25 per cent of the work on the project has been completed, he continued.
22316. Paytm in funding talks with Microsoft to build war chest
- Digital payments firm has held talks with US technology giant, Microsoft for fresh funding as the company looks to boost its war chest to fight growing competition in the sector, two people in the know said.
- The proposed fund raise, which may amount to around $100 million (Rs 760 crore), is likely to be an extension of a planned $1-billion (Rs 7,600 crore) fundraising that the company had initiated last year, people briefed on the matter told ET.
- The proposed fund raise, which may amount to around $100 million (Rs 760 crore), is likely to be an extension of a planned $1-billion (Rs 7,600 crore) fundraising that the company had initiated last year, people briefed on the matter told ET.
22317. Surge backs seven Indian startups in the third batch
- Surge is a 16-week accelerator programme, wherein startups receive scaleup support, along with $1-2 million in capital.
- Since its launch in March last year, Surge has grown into a community of more than 110 founders from 52 startups. Sequoia Capital ’s accelerator fund ‘Surge’ has backed 15 across India and Southeast Asia, at a time when new deals globally are far and few.
- The $200-million fund, led by former Google top executive Rajan Anandan, has made seven investments in the country across sectors in its third batch, taking its overall Surge portfolio to 52 startups.
22318. India stepped up as leader in fight against coronavirus, says US congressman
- The Republic of India is one of the America’s closest and most important allies.
- An influential US Congressmen has said that India has stepped up as a leader in the fight against coronavirus, applauding New Delhi for providing the US with vital supplies such as mass quantities of Hydroxychloroquine.
- An influential US Congressmen has said that India has stepped up as a leader in the fight against coronavirus, applauding New Delhi for providing the US with vital supplies such as mass quantities of Hydroxychloroquine.
22319. Walmart to hire 2800 employees in India this year
- Walmart is planning aggressive hiring in India. The US-based retail giant, Walmart has large operations in the country. The company is the biggest shareholder of Indian e-commerce leader, Flipkart.
- Walmart is planning to hire software professionals for its tech arm, Walmart Labs India. It has plans to hire over 2800 new employees this year.
- Walmart Labs India has development centres in different parts of the country. It has around 3,500 people in the Bengaluru office. The company plans to add another 2,000 techies for Bengaluru location.
22320. Saudi, American firms eye stakes in Reliance's Jio
- Three deals in three weeks injected a combined $8 billion in the group and help it pare its debt. Two more firms are eyeing a share of Reliance Industries Ltd's $65-billion digital unit Jio Platforms. US private equity firm General Atlantic is considering investing about $850 million to $950 million in the Mumbai-based company.
- The deal could be completed as soon as this month. Though no agreement has been finalized and plans may change. Saudi Arabia's Public Investment Fund (PIF) is also considering to buy a minority stake in Jio. Reliance Industries announced a $1.5 billion stake sale in Jio to Vista Equity Partners, the third deal in just over two weeks.
- The conglomerate cut a $5.7 billion deal with Facebook for a 9.99% stake in Jio on April 22 and a few days later, it secured a $750 million investment from private equity firm Silver Lake. Together the three deals will inject a combined $8 billion in the telecoms-to-energy group and help it pare its debt.