Reading Time: 12 mins One of the most struggling sectors in the current pandemic is the logistics sector. As the sector is demanding special packages to deal with the scenario, it is pertinent to remember the government’s decision to have a new National logistics Policy as declared by the Finance Minister during the Budget speech this year. In this backdrop, it is important to study the features, status, and issues of the sector.
Reading Time: 7 mins A major fall in the international crude oil prices prompted India to get its strategic Energy reserves filled at a low cost. Recently in a tweet, the Ministry of Petroleum and Natural Gas said that India has saved Rs. 5000 crores in foreign exchange while strengthening its energy security by filling up the strategic reserves with full capacity.
Reading Time: 4 mins Recently, the Prime Minister reviewed the plans being envisaged for implementing the Arth Ganga project and pushed concerned states to speedily implement the projects under Arth Ganga. The PM also elaborated on the importance of the project in the sustainable development model with a focus on economic activities related to the river.
Reading Time: 10 mins India’s pharmaceutical sector is expected to be one of the very few industries that will record growth in this fiscal year amid strains from the COVID-19 pandemic and the Great Lockdown. Investors are looking at pharma companies as safer bets and the sudden surge in global demand for cheap and reliable drugs has presented a rare opportunity for the Indian pharmaceutical sector to transition from ‘Pharmacy of the World’ to ‘a Global Research Hub’. However, there are also issues in the way of India reaching this goal.
Reading Time: 7 mins The Union Budget 2020-21 has given very low priority for the Sagarmala Project. Only Rs.297 crore is allocated for this infrastructural development scheme. This comes in the backdrop of very low allocations for the maritime sector in general out of the Rs.1 lakh crore allocation for the infrastructure sector – most of which is to be tunnelled into the National Infrastructure Pipeline. This is significant as India has an advantage with regards to its long coastline and its position in the Indian Ocean, which could be utilized to its full potential with the sustainable development of its coastal areas. Additionally, Sagarmala program needs an overhaul to make it more sustainable and inclusive so that the local fishing communities are not harmed.
Reading Time: 7 mins Electricity is one of the most critical components of infrastructure which is essential for sustained growth of the Indian economy and welfare of the nation. Ministry of Power, in an attempt to further develop the power sector, has issued a draft proposal for amendment of the Electricity Act, 2003 in the form of the draft Electricity Act (Amendment) Bill. This is the fourth draft since 2014.
Reading Time: 9 mins The International Energy Agency, in its India 2020 Energy Policy Review, has recommended adoption of NITI Aayog’s Draft National Energy Policy, which is under consideration since 2017 and is yet to be enforced due to several inter-ministerial differences. This said policy fails to address various other issues faced by India’s energy sector. Therefore, changes must be made in a way that enables coordination of all parties and also allows the country to adopt green energy as climate change has a significant impact on India’s economy and people. This reformed policy must be adopted as soon as possible as the country is currently facing rampant energy poverty despite having surplus energy under its domain.
Reading Time: 5 mins India has been one of the largest markets for gold. Its growing affluence is making the demand to grow even more. Gold has an important place in the country’s culture. Gold has a store of value, is a symbol of wealth and status and a fundamental part of many rituals. Indian households may have accumulated up to 25,000 tonnes of gold, thereby retaining the tag of the world’s largest holders of the metal, according to the World Gold Council (WGC). The attraction of gold comes with a catch of high import value among other things. So, the government of India launched the two schemes to attract investment and provide earning options to the people.
Reading Time: 7 mins Since conducting its second nuclear tests in 1998, India had adhered to a self-imposed commitment to “No First Use” of nuclear weapons on another country. However, on August 16th, 2019, Defence Minister Rajnath Singh had hinted that in future India’s “no first use” policy “depends on circumstances”. Following this episode, the Defence Minister had effectively reduced the already bleak chances of India becoming a member of the Nuclear Suppliers Group. However, in the current situation, it matters very little for India as it already has the necessary benefits it needs to expand and operate its nuclear programme.