Second Advance estimates released by Central Statistics Office (CSO) projects the growth of Gross Domestic Product (GDP) to be 6.6 per cent in 2017-18
As per the Second Advance estimates released by Central Statistics Office (CSO) the growth of Gross Domestic Product (GDP) is estimated to be 6.6 per cent in 2017-18, which is same as the annual average GDP growth rate during last 30 years, starting from 1987-88 to 2016-17. However, it may be mentioned that the growth rate of GDP from 2012-13 may not be strictly comparable with the growth rate prior to that period.
PFRDA conducts Conference on National Pension System (NPS) for Corporates in coordination with FICCI at Mumbai
Pension Fund Regulatory Development Authority (PFRDA) in its endeavour to promote NPS among the corporates have embarked upon conducting NPS workshops at various locations across the country. A Corporate meet was conducted at Mumbai yesterday in association with FICCI, Maharashtra State Council.
Shri Jaspal Bindra, Chairman, FICCI Maharashtra State Council and Executive Chairman, Centrum Group in his welcome address lauded the efforts of PFRDA for organizing such meetings across the country and creating awareness about NPS which can be effective platform for corporates to provide pension to their employees for their old age income security.
Maharashtra allots Rs. 432 cr for drip irrigation
The Finance Minister of Maharashtra, Sudhir Mungantiwar, on Friday presented the State Budget for fiscal 2018-19 with a revenue deficit of Rs. 15,375 crore. The economic growth rate in the State is also huffing with 2.7 per cent expected dip for the current fiscal.
Mungantiwar, while presenting his fourth budget for the Fadnavis government, said that during the year 2018-19, a revenue income of Rs. 2,85,968 crore and revenue expenditure of Rs. 3,01,343 crore is being projected. Consequently, there will be a revenue deficit, which the State government will try and minimise by reducing avoidable expenditure and effective recovery of revenue.
RBI fines Airtel Payments Bank Rs. 5 crore for violating KYC norms
The RBI has imposed a monetary penalty of Rs. 5 crore on Airtel Payments Bank for violating the apex bank’s operating guidelines and KYC (know your customer) directions.
There are about four payment banks operating in the country — Airtel Payments Bank, Paytm Payments Bank, Fino Payments Bank and IndiaPost.
Internet economy to surge to $500 billion by 2022
Mobile penetration in India is now passe. As phones get ‘smarter’ and more ‘affordable’, the next big development in the telecom sector is the increasing usage of mobile data. Betting big on India’s growing mobile data consumption, Aruna Sundararajan, Chairman, Telecom Commission, and Secretary, Department of Telecommunications, asserts that the current situation will facilitate a surge in the country’s internet and mobile economy applications, which is emerging as a key economic driver. There is a large volume of money transactions happening through online platforms, and this is expected toaccelerate, especially with the commencement of 4G and 5G services, she adds. She was in Kochi to launch Funds Genie app, an online mutual fund investment platform, developed by Geojit Financial Services.
Oracle plans to set up its first Threat Research Lab in India
With Prime Minister Narendra Modi encouraging techies to make India the cybersecurity hub of the world, tech giant Oracle is now planning to set up its first Threat Research Lab here.
“We intend to expand our threat research spectrum into a couple of other geographies with India very much in line for it. We’ve got a few hundred security professionals already working from an R&D standpoint on our products, and threat research is absolutely the next set of expansion that is on the forefront,” said Rohit Gupta, Global V-P, Cybersecurity, Oracle.
KVGB rolls out loan scheme for women entrepreneurs
Karnataka Vikas Grameena Bank (KVGB) has launched ‘Vikas She Plus’, a loan scheme for women to take up new ventures or for expanding/modifying the existing enterprises. This scheme provides loan up to a maximum of Rs. 2 lakh with a repayment period of 60 months.
Quoting S Ravindran, Chairman of KVGB, a press release said that the bank has a target of reaching out to 5,000 women entrepreneurs under the ‘Vikas She Plus’ scheme across nine districts of its jurisdiction by this fiscal-end
MP Mukhyamantri Mahila Kosh Scheme – Pension to Single Women Above 50 Years
Madhya Pradesh govt. has announced Mukhyamantri Mahila Kosh Scheme on the occasion of International Women’s Day. Subsequently, govt. will provide pension to all such women who are single (unmarried) after they turn 50 years of age. Accordingly, Mahila Kosh Pension Scheme will make single girls independent and thus will play a major role in Women Empowerment.
The affordable sanitary napkin will be available for Rs. 2.50 per pad at over 3200 Janaushadhi Kendras across India and would ensure ‘Swachhta, Swasthya and Suvidha’ for the underprivileged Women of India
Leading global IT services organisation, Tata Consultancy Services (TCS), on Thursday was named as the fastest growing IT services brand in the world in an assessment done by leading brand valuation firm, Brand Finance.
According to Brand Finance IT Services 15 annual report for 2018, TCS now has a total brand value of USD 10.391 billion; a growth of 14.4 percent from last year’s total of USD 9.081 billion, with an increase of USD 1.309 billion.
Mumbai is now the 16th Most Expensive City in the World
According to the Knight Frank Wealth Report 2018, Mumbai ranks 16th among the top 20 costliest cities in the world. Delhi, Chennai and Bengaluru feature among the top 100 cities in the list.
Guangzhou, a city in China, tops the list with property prices appreciating by 27.4% in the last one year.
Uber ropes in Virat Kohli as brand ambassador in India
Cab hailing platform Uber on Friday said it has it has roped in Indian cricket team captain, Virat Kohli as its brand ambassador in India.
“Uber India’s association with Virat Kohli will lay the foundation for a host of brand-led interventions in 2018. Besides being the face of the brand, Virat will be actively involved in a series of innovative marketing and customer experience initiatives to be rolled out by Uber India,” the company said in a statement.
Diu becomes the first and only Union Territory to be 100% solar energy efficient
In a major boost for utilisation of renewable energy in the country, Diu has become the first and only Union Territory to be fully solar energy efficient. This achievement by one of the major tourist attractions of the country showcases an effective method of harnessing an important source of renewable energy source. In the last three years, Diu has made expeditious progress in the field of solar power generation as it has become the first UT in the country where more than 100% of the energy requirement is met by solar power