Economy

The release of quick estimates of Index of Industrial Production (IIP) for the month of September 2021 shows a sustained increase in industrial production. The IIP, in FY 2021-22, has grown from an average of 121.3 in Q1 to 130.2 in Q2. The IIP in Q2 would have been still higher but for heavy monsoons disrupting mining activity, especially coal and consequently electricity generation, that repressed the growth of overall production index.

Paytm Money, a wholly-owned subsidiary of Paytm, launched Voice Trading that lets users to set a trade or get information regarding stocks via single voice command.

A report by the economists of the State Bank of India (SBI) stated that an increase in mobile transactions along with the number of bank branches, a careful recalibration of bank branches along with a robust digital infrastructure has enhanced India’s financial inclusion metrics.

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.”