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| Jan 01, 1970 | Daily Report |
| RISING BHARAT | News Count (101885) | |
23441. Finance Ministry releases Rs 9,871 crore grant to 17 states
- The Finance Ministry on Monday said it has released Rs 9,871 crore of revenue deficit grant to 17 states The states which will receive money from the grant as recommended by the 15th Finance Commission are Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.
- Grant of Rs. 9,871.00 crore to the States here today. With the release of this instalment, a total amount of Rs 69,097.00 crore has been released to eligible states as (PDRD) in the current financial year,"
- "The 15th Finance Commission has recommended a total Post Devolution Revenue Deficit Grant of Rs 1,18,452 crore to 17 States in the financial year 2021-22. Out of this, an amount of Rs 69,097.00 crore (58.33 per cent) has been released so far," the statement added.
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23442. Industry must begin using coal through gasification technology: JSPL MD
- The domestic industry must begin using coal through gasification technology. The gasification technology will also help India overcome the shortage of oil, gas, methanol, ammonia, urea and other products, making the country Atmanirbhar, he told PTI.
- Coal can be converted into syngas which can be used for producing power, petrol, diesel and other petroleum products, which can reduce dependence on crude oil imports, he explained. The government has set a target of gasifying 100 million tonne empty coal. This should be increased to 500 MT, Sharma said.
- India has coal reserves of 350 billion tonne and is the largest producer and supplier of coal India Ltd (Cil) does not produce even one billion tonne. It is India's first and the only plant producing steel from swadeshi coal using the coal gasification technology.
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23443. Indian economy to grow at 9.5% in 2021, 8.5% in 2022: IMF
- India's growth projection released by the latest World Economic Outlook remains unchanged from its previous WEO (World Economic Outlook) update of July this summer but is a three-percentage point in 2021 and 1.6 percentage point drop from its April projections.
- According to the latest WEO update, released ahead of the annual meeting of the IMF and the World Bank, the world is expected to grow at 5.9 per cent in 2021 and 4.9 per cent in 2022.
- India's economy, which contracted by 7.3 per cent due to the COVID-19 pandemic, is projected to be the fastest growing economy in the world in 2022.
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23444. From Markets to Maharaja: Indian Economy Finally Takes Off After Pandemic Turbulenc
- The Indian economy is showing signs of bouncing back ahead of the festive season, the revival reflecting in upbeat projections by global financial institutions,
- increased factory output, a bullish stock market, blockbuster IPOs, decline in unemployment rate and the Air India fillip to privatisation push.
- As per global projections, India will retain the tag of the fastest-growing economy in 2022. Here’s a closer look at factors that are key in keeping India north of the projections
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23445. ISRO Chief Says India Will Allow Private Companies To Invest In Space Sector
- According to Dr K Sivan, Chairman of the Indian Space Research Organisation and Secretary Department of Space, Government of India, who revealed this at the Indian Pavilion of Expo 2020 Dubai.
- Recent changes in the Indian space sector has highlighted how the role of the private sector has transitioned from being just suppliers to actual partners in the overall journey.
- Sivan revealed in a statement that the Indian government is now open to invite private players in the space sector. Moreover, ISRO is also collaborating with start-ups and industries for this.
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23446. Rs 814 cr received in dividend tranches from 5 CPSEs: DIPAM Secy
- Secretary of Department of Investment and Public Asset Management (DIPAM) Tuhin Kanta Pandey has said that dividend tranches of about 296 crore rupees have been received from Power Finance Corporation Limited (PFC) and 233 crore rupees from Housing and Urban Development Corporation (HUDCO).
- Oil India Limited OIL has paid about 92 crore rupees, KIOCL 99 crore rupees and Satluj Jal Vidyut Nigam SJVN 94 crore rupees as dividend tranches to Government of India.
- Oil India Limited OIL has paid about 92 crore rupees, KIOCL 99 crore rupees and Satluj Jal Vidyut Nigam SJVN 94 crore rupees as dividend tranches to Government of India.
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23447. Trifecta Capital invests Rs 400 crore in four Indian tech companies
- Trifecta Capital said it has invested Rs 400 crore (about $53 million) across four companies from its maiden equity fund, Trifecta Leaders Fund - I.
- The fund has invested in ixigo, Good Glamm Group (MyGlamm), API Holdings (PharmEasy), and Meesho, in line with its strategy to back growth to late-stage category-leading tech companies.
- Ixigo is a multi-modal travel platform, while Good Glamm Group is a D2C (Direct-to-Consumer) beauty and personal care company and Meesho is a social-commerce company
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23448. Dhani Services to raise Rs 1,200 crore from General Catalysts, others
- General Catalysts will invest Rs 375 crore in the fintech enterprise of Indiabulls founder Sameer Gehlaut, who also pitched in an equal amount. Ribbit Capital has also come on board, as have Think Investments and First Royalty Ventures.
- Dhani is a primary healthcare and transactional finance platform.
- The company claims that it has over 30 lakh paid monthly subscriptions and more than 90 lakh monthly active users.
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23449. Real estate sector is expected to contribute 18-20% of country’s GDP by 2030: NITI Aayog CEO Amitabh Kant
- The real estate sector is expected to contribute 18-20% of the country’s GDP by 2030, said Amitabh Kant, CEO, NITI Aayog on Friday.
- India’s real estate sector is one with cross-linkages and its most important contribution is towards supporting India’s continued dominance in the technology sector.
- The sector is expected to reach a market size of $1 trillion and contribute 18-20% of the country’s GDP by 2030
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23450. India at halfway mark in meeting the export target of $400 billion
- The government set an export target for the current financial year.
- India seems to be well on its target to reach the target of $400 billion worth of exports for the current financial year.
- The country has almost reached the halfway mark (49.5 per cent) by the end of September 30, said Srikar K. Reddy, Joint Secretary, Union Ministry of Commerce and Industry.
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