Economy

The government plans to closely monitor cryptocurrency as it is believed to be a quickly evolving technology. Officials have been directed to take proactive steps if any discrepancy is spotted. This was a result of a “consultative process as RBI, finance ministry, the home ministry had done an elaborate exercise on it as well as consulted experts from across the country and the world,” sources who know about the matter told news agencies.

Shri Goyal invited South Korean entrepreneurs to invest in new sectors like Defence and Retail. “We need to complement our complementary strengths in Automobiles, Textiles, Food processing, Leather Products, Metals, Mining, Chemicals and also through some of our traditional sectors like Steel and look at new emerging opportunities in Defence, e-Commerce and Retail.”

The RBI Retail Direct Scheme is aimed at enhancing access to government securities market for retail investors. It offers them a new avenue for directly investing in securities issued by the Government of India and the State Governments. Investors will be able to easily open and maintain their government securities account online with the RBI, free of cost.

According to the publication, the presence of private Indian players like PhonePe, PayTM, RazorPay as well as international giants like GPay, PayPal, PayUmoney, etc the most successful and user-friendly interface has been that of BHIM (Bharat Interface for Money) launched by the government of India.

The Survey had said growth will be reinforced by supply-side drive from modifications and easing of regulations, boost for infrastructural investments, improvement to manufacturing sector through Production-Linked Incentive (PLI) schemes, recovery of stifled demand, rise in flexible consumption subsequent to rollout of vaccines and pick-up in credit given passable liquidity and low interest rates.