News on Indian Economy
The total value of UPI transactions also increased sharply, growing 20 percent year-on-year to more than ₹28 lakh crore. On an average day in June, UPI processed nearly 757 million transactions, reflecting the massive scale, reliability and public trust built around India’s digital payments ecosystem.
At its core, GAGAN strengthens ordinary GPS signals by correcting errors in real time. GPS is widely used by aircraft to determine position, but its signals can be affected by atmospheric disturbances, timing errors and other technical variations. In aviation, even a small positioning error can become significant. GAGAN addresses this challenge by giving pilots and aircraft systems more accurate navigation data, along with integrity alerts that indicate whether a signal is safe to use for navigation.
The development was discussed during a meeting between Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal and European Commissioner for Environment, Water Resilience and a Competitive Circular Economy Jessika Roswall. Both sides reviewed the ongoing audit, inspection and approval process for Indian ship recycling facilities seeking inclusion under the EU regulatory system.
The procedure was developed by the Airports Authority of India (AAI) and approved by the Directorate General of Civil Aviation (DGCA) in accordance with DGCA regulations and the International Civil Aviation Organization (ICAO) Standards and Recommended Practices.
The conservation initiative, launched in 2022, is being implemented by the ICAR–National Bureau of Plant Genetic Resources (ICAR-NBPGR), New Delhi, in collaboration with the Assam State Biodiversity Board. The project focuses on protecting and managing wild rice populations in their natural habitat while documenting and characterizing valuable germplasm for future agricultural research.
As part of the expansion, the company will enhance its Tata Global Network (TGN) by integrating the MIST Cable System between Mumbai and Singapore. The project will add 20 Tbps of network capacity through an investment of ₹594.47 crore (US$63 million).
The new mission represents a major increase from the ₹76,000 crore allocated under the first phase and was announced as part of the Union Budget 2026–27. ISM 2.0 is designed to accelerate the development of a complete semiconductor ecosystem, covering chip design, manufacturing, semiconductor equipment, raw materials, indigenous intellectual property, and resilient supply chains.
The achievement comes nearly a decade after AGEL commissioned its first renewable energy project at Kamuthi, Tamil Nadu, in 2016. During FY26, the company added 5,051 MW of renewable energy capacity, marking one of the largest annual additions by any renewable energy company outside China.
Domestic GST collections stood at ₹1.35 lakh crore, reflecting a 6.5% increase compared to the same month last year. Meanwhile, GST collected on imports surged 34.6% to ₹60,038 crore, making it the biggest contributor to the month’s overall growth.
Shri Piyush Goyal said that the launch marks another important milestone in the global expansion of India’s digital payment ecosystem. He said that, with UPI now live in Greece, eligible customers can transfer money instantly, securely, and seamlessly, with transaction costs reduced significantly to a fraction of those associated with conventional money transfer methods.
