Economy

In the presence of Union Minister of Chemicals & Fertilizers and Health & Family Welfare Shri Mansukh Mandaviya, a practical field trial of Drone Spraying of Nano Liquid Urea was conducted in Bhavnagar, Gujarat. The trial was attended by a large number of farmers. This demonstration of spraying liquid nano urea by drone was undertaken by IFFCO, a company involved in developing nano urea.

The government has settled ₹ 28,812 crore to CGST and ₹ 24,140 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States after regular settlements in the month of September 2021 is ₹ 49,390 crore for CGST and ₹ 50,907 crore for the SGST.

The Union Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, Shri Piyush Goyal has said India is poised to become one of the largest digital markets in the world. Addressing the 2nd Global Fintech Fest-2021 through video conferencing today, he said, “At 87%, India has the highest FinTech adoption rate in the world against the global average of 64%.”

On December 4, the RBI issued a directive to all banks, including RRBs, NBFCs, and payment gateways, stating that the processing of recurring transactions (domestic or cross-border) using cards, Prepaid Payment Instruments (PPIs), or the Unified Payments Interface (UPI) under non-AFA arrangements/practices would be discontinued after March 31, 2021.