UNCTAD projects Indian economy to expand to 7.2% in 2021
The United Nations Conference on Trade and Development (UNCTAD) has pegged India’s economic growth rate to hit a four-year high of 7.2 per cent for 2021 against a contraction of 7 per cent in 2020. At this rate, India would be the fastest growing economy after China, which is projected to grow by 8.3 per cent. Calculations are based on GDP at constant dollars in 2015. In its Trade and Development report released on Wednesday, UNCTAD projected India’s economy to outpace all other major economies in the next year even though the growth would be slower, at 6.7 per cent, than this year’s projected figure.
SOURCE: Business Standard
Cabinet approves 100% foreign investment in telecom sector
In big bang reforms, the Union Cabinet on Wednesday approved a relief package for the telecom sector that includes a four-year moratorium on payment of statutory dues by telecom companies as well as allowing 100 per cent foreign investment through the automatic route. Briefing reporters on the decisions taken by the Cabinet, Telecom Minister Ashwini Vaishnav said nine structural reforms for the telecom sector were approved. The definition of AGR, which had been a major reason for the stress in the sector, has been rationalised by excluding non-telecom revenue of telecom companies.
AGR refers to revenues that are considered for payment of statutory dues.
SOURCE: The Hindu
India participates in SCO Military Exercise in Russia
India has participated in a multi-nation counter-terror exercise in Russia’s Orenburg region that has been organised under the aegis of the Shanghai Cooperation Organisation (SCO). India has sent a team of 200 personnel for the sixth edition of ‘Exercise Peaceful Mission’ from September 13 to 25, the Indian Army said. It said the aim of the exercise is to foster close relations between SCO member states and to enhance the abilities of the military leaders to command multi-national military contingents. It described the exercise as a landmark event in military interactions and global cooperation to counter-terrorism. The Army said the exercise will enable sharing of best practices between the armed forces of the SCO nations.
SOURCE: The Indian Express
Cabinet approves MoU with Italy on Cooperation in the field of Disaster Risk Reduction
The Union Cabinet was on Wednesday apprised about an MoU signed between the National Disaster Management Authority (NDMA) and an Italian government entity for cooperation in the field of disaster risk reduction and management. The memorandum of understanding, signed in June 2021, seeks to put in place a system, by which both India and Italy will benefit from the disaster management mechanisms of each other. The MoU seeks to put in place a system whereby both India and Italy will benefit from the disaster management mechanisms of each other and it will help in strengthening the areas of preparedness, response and capacity building in the field of disaster management, it said.
SOURCE: Hindustan Times
NITI Aayog and RMI India launch ‘Shoonya’ campaign
Government think tank Niti Aayog and Rocky Mountain Institute (RMI) on Wednesday, September 15, 2021, launched an initiative to promote zero-pollution delivery vehicles by working with consumers and industry, according to an official statement. The campaign, Shoonya, aims to accelerate the adoption of electric vehicles (EVs) in the urban deliveries segment and create consumer awareness about the benefits of zero-pollution delivery, the statement said. Initially, close to 30 companies including Mahindra Electric, Tata Motors, Zomato, Ashok Leyland, Sun Mobility, Lightning Logistics, Big Basket, Bluedart, Hero Electric, and Swiggy among others attended the kick-off meeting chaired by Niti Aayog CEO Amitabh Kant, the statement said.
SOURCE: The New Indian Express