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:4mins 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:5mins 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:4mins 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:8mins 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.
Reading Time:9mins The National Infrastructure Pipeline (NIP) was published in December last year by the Department of Economic Affairs. It provides wide-ranging information about India’s infrastructure investment requirements until 2025 in terms of individual sectors and projects. It aims to improve India’s infrastructure and address the current unemployment crisis. It is a comprehensive strategy to revitalise India’s economic growth by including new projects like housing, safe drinking water, access to clean and affordable energy, healthcare, educational institutes, railway stations, airports, bus terminals, metro, logistics and warehousing, irrigation projects, etc. In short, it sets a humongous task for the centre and state governments for the next five years to improve the country’s infrastructure and ease people’s lives. Therefore, cooperation between the centre, state and private sector and reforms of the existing laws is a need of the hour to achieve the ambitious targets set under the NIP.
Reading Time:6mins The government has set a disinvestment target for 2020-2021 to Rs.2.10 lakh crore, having failed to achieve the current fiscal year’s target of Rs.1.05 lakh crore. It hopes to achieve the unmet target of this fiscal year in the next fiscal year. A large part is likely to come from the sale of stakes in Life Insurance Corporation and IDBI bank. However, the strategy of how this target is going to be achieved is absent. Nevertheless, selling off stakes from high return public enterprises like LIC can ensure the achievement of targets set by the government. Achieving this alone is not enough. The government must use these earnings not to pay off its loans or achieve its fiscal deficit target but to reinvest in aspects that ensure improvement in economic growth and sustainable returns.
Reading Time:8mins Coal is variously referred to as the ‘black gold’, ‘black diamond’ etc. in reference to its value in driving the economy. Recently, the cabinet approved the ordnance for liberalising the sector further- only the latest addition to a series of measures by the government to stimulate the sector. This is noteworthy given India’s stand in the fight against climate change. It shows the significance the carbon based material has on the Indian economy despite its proven deleterious effects on the environment.