News on Indian Economy
An Indian alternative to Twitter Inc., the Koo app, which lets users send out tweet-like posts in English as well as seven Indian languages, shot to prominence after Twitter got into a weeks-long standoff with the government over blocking certain content.
The industry is expected to add over 138,000 net new hires in FY 2020-21, taking total employee base to 4.47 million, according to the IT industry body’s Strategic Review 2021 titled, “New World: The Future is Virtual”.
The Prime Minister, Shri Narendra Modi launched ‘Mahabahu-Brahmaputra’ and laid the foundation stone of two bridges in Assam. Union Minister for Road Transport and Highways; Union Minister for Law & Justice, Communications and Electronics & Information Technology; MoS (I/C) for Ports, Shipping and Waterways and Chief Minister of Assam and Meghalaya were present on the occasion.
With around 33 deals valued at $647.5 million, India has the highest investment in the fintech segment compared to China’s $284.9 million during the quarter ended June 30, 2020, a report released by RBSA Advisors said.
The first phase of the 2021 Workforce and Increment Trends Survey by Deloitte Touche Tohmatsu India LLP (DTTILLP) also said the average increment this year will be higher than 4.4 per cent seen in 2020 but lower than 8.6 per cent given by companies in 2019.
The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi, has approved Production Linked Incentive (PLI) Scheme for Telecom and Networking Products with a budgetary outlay of Rs. 12,195 crore.
The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi has approved signing of the Comprehensive Economic Cooperation and Partnership Agreement (CECPA) between India and Mauritius.
In a boost to India’s renewables sector, it is expected to get investments to the tune of around USD 500 billion, in order to achieve the target of 450 gigawatts (GW) of capacity by 2030, as per a report on MoneyControl.
“The findings from this study are fascinating, particularly that a personal experience with COVID-19 results in higher levels of workplace resilience. The data reinforces the well-known notion that people can often emerge stronger after a setback or crisis.”
On February 15, 2021, the Reserve Bank of India (RBI) announced that it would conduct simultaneous sales and purchases of government bonds under a special open market operation (OMO) on February 25, 2021.
