Reading Time: 7 mins Creativity and innovation are the energy source that fuels the growth and development of any knowledge economy. The 21st century, particularly, belongs to the knowledge era and is driven by the knowledge economy. With rapid globalization and liberalization of trade, there has been an emergence of “Intellectual Capital” as a key wealth generator resulting in Intellectual property rights becoming an irreplaceable element.
Reading Time: 5 mins
The department of animal husbandry and dairying released the 20th livestock census in October 2019.
What is livestock-
Domestication of animals raised in an agricultural setting to gain labour and products such as meat, eggs, milk, fur, etc.
Livestock rearing, Dairying, Fisheries activities, along with agriculture, are an integral part of human life since the start of civilization. These activities have helped to improve the food basket and to gain draught animal power. As a result of conducive climate and topography, Animal Husbandry, Dairying and Fisheries Sectors have played a prominent socio-economic role in India.
They play a significant role in generating employment in the rural sector, mainly among the landless, small and marginal farmers and women, apart from providing cheap and nutritious food to millions. They act as the ‘‘bank on hooves’’.
Reading Time: 4 mins FASTag is made mandatory for all vehicles, private and commercial, from January 15, 2020. According to the FASTag transactions data released on January 1, 2020, by National Payments Corporation of India, about 6.4 crore FASTag transactions, worth Rs.1,256 crore, were processed in December against 3.4 crore transactions worth Rs.774 crore in November. Paytm Payments Bank issued over 40% of all FASTags in December. Currently, the government is taking the necessary steps to promote it.
Reading Time: 5 mins Horticulture is the branch of agriculture. It is art, science. technology and business of plant cultivation. It includes the cultivation of fruits. vegetables, nuts, seeds, herbs, sprouts, mushrooms, flowers, seaweeds and non-food crops for instance grass and ornamental trees and plants and plant conservation, maintenance, and arboriculture.
Reading Time: 5 mins India recently held the second assembly of the International Solar Alliance (ISA) in October 2019. India is the current president of the ISA and France is the co-president.
International Solar Alliance represents India’s continuing efforts towards fighting Global warming and climate change. As the world still deliberates over the possible mechanisms to counter the impacts of climate change, The ISA is an action-oriented, sustainable model to balance the needs of developing countries and environmental efforts. It is the first organization working in the renewable energy sectors focusing solely on solar energy.
Reading Time: 4 mins Government e-Marketplace (GeM), launched in August 2016 by the commerce Ministry is a one-stop portal to facilitate online procurement of Goods & Services which are in common use by various Government Departments / Organizations / PSUs. Its objective is to create an open and transparent procurement platform for government departments.
In the recent Union Budget, the Finance Minister informed that the GeM has clocked the transaction of Rs 40,000 crore. The minister in her 2020-21 Budget speech said that the government aspires to increase the turnover of the GeM portal to Rs 3 lakh crore.
Reading Time: 8 mins The Reserve Bank of India on 6th February 2020, had released the 6th Bi-Monthly Monetary Policy Statement 2020. After looking into the current macroeconomic situation, RBI’s Monetary Policy Committee had decided not to change the policy repo rate, which is at 5.15%, in accordance with its plan to maintain the accommodative stance until the economic growth is revived, and the inflation rate is within the target. Apart from this, several other steps were taken by the MPC to boost economic growth and demand. The accommodative stance taken by the RBI is a step in the right direction as it can support economic growth and reduce inflation exponentially.
Reading Time: 8 mins Startups are a vital part of the Indian economy as they promote economic growth, create employment and foster a culture of innovation. The Indian government launched the Startup India Campaign, recognising entrepreneurship as an increasingly important strategy to fuel productivity growth and wealth creation in India. During the Union Budget 2020, the Finance Minister gave high emphasis on measures taken to promote and support startups as they are going to the driver of the Indian economy in the near future. From infrastructure boost to easing tax burdens, the budget has proposed numerous benefits for the startups. The recent economic survey pointed out an increase in startups in India. However, many are opting to register overseas due to complicated compliance norms and loss-inflicting laws. Necessary reforms to ensure ease of doing business for the startups is vital for the success of the startup India initiative.