NITI AAYOG
NITI Aayog launches Sampoornata Abhiyan for development of aspirational districts and blocks
As part of the Abhiyan, which is a three-month campaign starting from tomorrow till September 30, the Aayog will coordinate with states to achieve saturation of six key indicators in 112 aspirational districts and 500 aspirational blocks across the country.
Poverty in India declines to 8.5% from 21.2% in 2011-12: NCAER paper
Poverty in India declined from 21.2% in 2011-12 to 8.5% in 2022-24, despite pandemic challenges, according to NCAER's report "Rethinking Social Safety Nets in a Changing Society." Using data from the India Human Development Survey, the study highlights the need for adaptable social protection systems to match rapid economic and social transformations.
NITI Aayog calls for policy and legal reforms to regulate use of facial recognition technology (FRT) in India
In a report, prepared by the Vidhi Centre for Legal Policy on behalf of the Aayog, it had proposed imposing liability and the extent of liability arising from any harms or damages caused by the use of facial recognition technology (FRT) system. Besides, the Aayog has suggested a need for an ethical committee to address issues pertaining to transparency, accountability, and biases emanating from the use of such systems in India.
Digi Yatra policy should spell out all rules on passenger info deletion, suggests study
A study by NITI Aayog recommends that the Digi Yatra policy clearly outline rules for deleting passenger information post-travel, amid privacy concerns over user data. The policy states that facial biometrics are deleted 24 hours after the passenger's flight, but deletion rules for other data must be specified. Frequent cybersecurity audits, algorithmic audits, and ongoing monitoring are also advised to ensure data security and system reliability.
India has taken lead in ensuring 'One Health' goals: Niti Aayog's Dr VK Paul
India is ahead of several countries in drafting a legal framework to support the implementation of the 'One Health' initiative, which integrates the health of people, animals, and the environment. The 'One Health' approach is crucial for addressing complex health challenges such as zoonotic diseases, antimicrobial resistance, food safety, and climate change. India is framing National Action Plan 2.0 to address antimicrobial resistance issues, conceptualizing the One Health Mission, and working on broader issues of climate change.
Focus on upcoming Budget: Policy in the works on finance, health support for elders
India is considering policy measures for senior care, including expanding healthcare access through Ayushman Bharat, revising pension under the Indira Gandhi scheme, and providing healthcare under NPHCE.
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Centre monetizes assets worth Rs 3.85 lakh crore; Coal and Roads ministry top contributors
The government has monetized Rs 3.85 lakh crore through core assets of various ministries and Public Sector Enterprises (PSEs) since FY22 under the National Monetisation Pipeline (NMP). In FY23-24, against a target of Rs 1.8 lakh crore, the government achieved Rs 1.56 lakh crore, with top-performing ministries being Road Transport and Highways and Coal, collectively monetizing Rs 97,000 crore.
Assets worth Rs 1.56 lakh crore monetised in 2023-24 as against the target of Rs 1.8 lakh crore under NMP: NITI Aayog
According to NITI Aayog, the government has monetized assets worth Rs 3.85 lakh crore in the first three years under the National Monetisation Pipeline (NMP) while the four-year target under the plan, ending in 2024-25 is Rs 6 lakh crore.
Proposed Rs 72,000-cr 'Mega Infra Project' in Great Nicobar poses grave threat to tribals, should be reviewed: Congress
The Congress has called for a halt to a proposed Rs 72,000-crore infrastructure project in Great Nicobar Island, citing grave threats to tribal communities and the ecosystem. Congress leader Jairam Ramesh highlighted concerns over forest land diversion, inadequate consultations, and violations of legal and constitutional provisions safeguarding indigenous groups. He demanded immediate suspension of clearances and impartial review by parliamentary committees.
Modi-led NDA govt must tackle unemployment problem, especially in unorganised sector: Rajiv Kumar
Former NITI Aayog Vice Chairman Rajiv Kumar emphasized that the Modi government's third term must address unemployment, particularly in the unorganized sector and SMEs. He highlighted the need to finalize the delayed four labor codes and recognized the K-shaped economic recovery post-COVID. Large corporations and highly skilled individuals have prospered, while lower-end workers and SMEs struggle.
Suspended board of Jaiprakash Associates moves NCLAT, challenges insolvency proceedings
Jaiprakash Associates' suspended board challenged NCLT's order for insolvency proceedings, with the matter listed before NCLAT. NCLT admitted ICICI Bank's plea on June 3, appointing Bhuvan Madan as Interim Resolution Professional. Despite JAL's claims of liquidity crunch and asset-rich status, NCLT upheld the insolvency decision. The tribunal also dismissed JAL's objections regarding debt restructuring and asset transfers.
Security & legal proposals to now come under Niti
Niti Aayog, under Major General K Narayanan, to focus on security and law proposals. Reconstitution aligns with government's emphasis on security and legal matters.
Nitish Kumar's JD(U) sticks to its demand for Special Category Status for Bihar
BJP allies, including JD(U), push for special category status for Bihar at Centre, as per JD(U) supremo and Bihar CM Nitish Kumar's long-pending demand.
Nitish Kumar may seek '1 nation 1 power tariff' in NDA negotiations
Nitish Kumar has been pushing for subsidized electricity rates from NTPC and other central producers. A senior JDU leader mentioned that Bihar buys electricity at a high cost and also provides consumer subsidies. Kumar might request a "one nation, one tariff" policy for electricity. With Bihar's assembly elections approaching in 2025, this issue is significant.
G20 Sherpa Amitabh Kant lauds India's digital transformation journey in 9 years
India has made significant strides in digital transformation over the past nine years, with a 96% reduction in data costs and a 1.4 billion people now having a unique digital identity (Aadhar). This has led to greater access and usage of digital services across the country. India's Unified Payments Interface (UPI) has seen exponential growth, contributing 46% of the global share in real-time digital payments.
Government slashes domestic natural gas prices amid major pricing overhaul
The Ministry of Oil lowered domestic natural gas price to USD 8.44 per mmBtu for June 2024, following a new pricing mechanism. This adjustment aims to stabilize the market and meet energy targets, benefiting consumers and producers alike.
Coal India incorporates new arm for coal-to-chemical business
Coal India's subsidiary BCGCL, with BHEL and GAIL, aims for coal-to-chemicals business with ammonia, nitric acid, and ammonium nitrate production, contributing significantly to domestic coal output.
Government to evaluate four financial sector schemes of finance ministry
The Development, Monitoring, and Evaluation Office of NITI Aayog will soon conduct assessments of four key financial sector initiatives administered by the Department of Financial Services: Pradhan Mantri Jan Dhan Yojana (PMJDY) initiated in 2014, along with the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Stand-up India (SUPI) program. The objective is to scrutinize the schemes regarding their reach and effectiveness among the intended beneficiaries and to explore potential enhancements to the insurance scheme benefits.
If Modi is re-elected, these sectors will get his most attention
Prime Minister Narendra Modi has pledged to propel India to become the world's third-largest economy if re-elected for a third term. His ambitious 100-day agenda post-election includes prioritizing manufacturing, new-age technology, infrastructure development, and clean energy sectors. The government aims to implement reforms to boost economic growth and attract foreign investment.
DMEO, an attached office of NITI Aayog, to evaluate the roll-out and implementation status of e-Vidhan project
The Indian government is assessing the implementation of the e-Vidhan project, a mission mode project for state legislatures, under the Digital India Programme. The project aims to make all legislatures paperless, streamline information exchange, and enable members to use the latest ICT tools. The Development, Monitoring and Evaluation Office is inviting bids to evaluate the project's progress and identify concerns. The evaluation is expected to be completed within four months, with the inception report submitted within 30 days.
Centre to evaluate PM KISAN scheme to assess its impact on farmers
To be undertaken by the Development, Monitoring and Evaluation Office of NITI Aayog, the evaluation is being done to understand the success of the scheme in supplementing the financial needs of the farmers, its impact on farm income and the extent to which it has reduced dependence on moneylender. The scheme costs the government Rs 60,000 crore a year.
30% of global GDP growth will come from India between 2035-2040: Amitabh Kant
Amitabh Kant, India's G20 Sherpa and former Niti Aayog chief, praised India's structural reforms, noting that they have elevated the country from the "fragile 5" to the "top 5," resulting in a growth rate of approximately 8.4% over the last three quarters. Kant highlighted analysts' projections that foresee India contributing 30% to global GDP growth between 2035-2040.
Incentivise states to generate local resources to fight climate challenges: NITI Aayog VC Suman Bery
"Multilateral development banks have a long way to go to improve the processes and procedures to be able to address the daunting challenge of seeking to meet financing needs of an orderly transition to be able to address the challenges of climate financing," NITI Aayog vice-chairman Suman Bery said.
Centre should start incentive scheme for states to mobilise resources at local level: Niti Aayog VC
The central government should come up with an incentive scheme on the recommendation of the Finance Commission for states to mobilise resources at the local level, Niti Aayog vice chairman Suman Bery said on Friday. Addressing the captains of the Indian industry at a CII Annual Business Summit, Bery said there is not enough pressure on either cities or states to generate non-tax revenue.
Rating Agencies need to relook at India’s credit ratings: NK Singh
NK Singh, chairman of the 15th Finance Commission, highlighted the prejudice and bias affecting India's credit rating, calling for a reassessment by credit rating agencies. During a session on climate financing at the Confederation of Indian Industry’s Annual Business Summit 2024, Singh emphasized India's strong debt repayment history. He also outlined the need for $5 trillion in climate financing, with contributions from multilateral development banks, private capital, and domestic resources. Singh stressed the necessity for reforms in the global financial architecture to meet climate financing challenges.
DGFT conducting study to identify and align best global practices in trade finance
The Directorate General of Foreign Trade (DGFT) is exploring global trade finance practices to align with India's future needs. Over 2.5 lakh bank realisation certificates (BRCs) have been self-generated under the revamped eBRC system, boosting ease of doing business. Stakeholders emphasize the importance of data flow in export credit and aim to enhance the trade finance ecosystem in India.
India needs to reduce trade tariffs, simplify procedures and remove protectionism: NITI Aayog CEO BVR Subrahmanyam
Speaking at Confederation of Indian Industry’s Annual Business Summit 2024, Subrahmanyam listed out the need for fundamental reforms in education and skilling, need for intervention to enhance the women labour force participation rate and plethora of policy measures in agriculture along with greater private sector investment in infrastructure and governance reforms.
India's defence capabilities boosted under Modi government, relying on imports only for immediate needs: NITI Aayog member VK Saraswat
India has significantly enhanced its defense capabilities over the past decade, with a focus on indigenous manufacturing and reducing reliance on arms imports. VK Saraswat, a member of NITI Aayog and former chief of the DRDO, highlighted that 60% of India's arms and ammunition are now domestically produced, with major corporations like Adani, Tata, and L&T contributing to radar systems and gun manufacturing. Saraswat also assured that India's power capacity is sufficient to meet its needs, minimizing the risk of significant power cuts. Companies like Hindustan Aeronautics (HAL) and Bharat Electronics are poised to benefit from these trends.
Government aims to boost use of artificial intelligence in food processing
India aims to boost artificial intelligence (AI) in food processing to raise efficiency, support farmers, and cut environmental impact, officials revealed at a National Institute of Food Technology Entrepreneurship and Management (NIFTEM) conference. The government advocated for a roadmap to deploy AI tools in the sector, with the Ministry of Electronics and Information Technology Secretary showing support. Experts believe AI can enhance agricultural practices, improve produce quality, and aid India's goal of achieving net zero emissions by 2070.
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