Policy

New Rajasthan policy targets Rs 1.5 trillion goods exports by 2029

The goods exports stood at over Rs 83,704 crore as of FY24. The move will promote initiatives to elevate product quality and facilitate certification of exported goods

More funds sought for MGNREGA if budget falls short: Shivraj Singh Chouhan

Civil society says claims of timely release, funds increase misleading; threaten protest from December 6

Bihar aims to become major player in textile sector through policy support

The Bihar government is aiming to transform the state into a thriving hub for textiles by creating enabling environment through policy support and better infrastructure, a senior government official said. The state government is making efforts to position Bihar as a crucial player in India's textile and leather industries with the overall objective of generating large-scale employment opportunities. Officials from the Department of Industries recently visited Tamil Nadu to study the textile and leather sector, with a view to gain actionable insights and also forge strategic collaborations, the state government said in a release on Friday. A delegation from the department visited Tiruppur, a global textile manufacturing centre, to engage with leading manufacturers and industry experts. The delegation gathered valuable insights into advanced technologies, efficient processes and best practices that have transformed Tiruppur into a global leader. Alok Ranjan Ghosh, Director of ...

India-France trade balanced but 'suboptimal', it should grow: Piyush Goyal

He called for a greater collaboration with France in the defence sector and also underlined that India's robust patent-protected regime does not insist on technology transfer

Market friendly, joint Centre-state approach key for new industrial policy

The growth boom in manufacturing that India experienced following the shift of focus from public sector to the private sector was driven more by market-friendly than business-friendly interventions

Best of BS Opinion: Selling pressure, Private access, public good

Here is the best of Business Standard's opinion pieces for today

Private access, public good: Gati Shakti data should not be limited

To ensure data accuracy, key infrastructure ministries have finalised standard operating procedures (SOPs) for a three-tier system

Gujarat CM Patel launches projects of Rs 564 crore for industrial estates

Gujarat Chief Minister Bhupendra Patel virtually inaugurated and laid foundation stones for infrastructure projects of Rs 564 crore for state-run industrial estates on Tuesday. These projects, aimed at enhancing Gujarat's industrial ecosystem, were launched at an event held in Gandhinagar as part of 'Vikas Saptah' celebrations, the state government stated. These infrastructure initiatives undertaken by the Gujarat Industrial Development Corporation (GIDC) aim to boost industrial growth and ensure efficient water supply and road networks across various industrial estates. Under the PM MITRA Park scheme, a project of Rs 352 crore has been launched to establish a 65 MLD water supply system at the proposed Textile Park in Vansi, Navsari district, aiming to provide essential water infrastructure to support the growing textile industry. At the Sanand-2 Industrial Estate, a Rs 21-crore project is underway to construct a water storage tank for industrial use. In the Saykha-B industrial est

Srinivas gets additional charge as CEO of public procurement portal GeM

The government has given L Satya Srinivas, Additional Secretary in Department of Commerce, the additional charge of CEO of public procurement portal GeM. The additional charge was given as the last CEO of the Government e Marketplace (GeM) P K Singh has been appointed as secretary in the renewable energy ministry. Srinivas is an officer of the 1991 batch of the Indian Revenue Service (Customs & Indirect Taxes). "We are honoured to announce the appointment of Shri L Satya Srinivas, Additional Secretary, Department of Commerce, Government of India, as the Chief Executive Officer (CEO) of Government e Marketplace on additional charge," GeM said in a post on social media platform X. The GeM portal was launched on August 9, 2016, for online purchases of goods and services by all central government ministries and departments.

Gopal Rai approves 100 schemes worth Rs 93 cr for development of villages

Delhi Minister Gopal Rai on Friday approved 100 new schemes, including for roads, drains and playgrounds, worth Rs 93 crores to boost development of villages, a statement said. A meeting of the Gram Vikas Board was held at the Delhi Secretariat here on Friday which was chaired by Rai. It approved 100 schemes to ensure development in the capital's villages, it said. During the meeting, the officials were instructed to complete the development projects within the stipulated time frame. The Gram Vikas Board has approved installation of 100 benches in bigger villages, the statement said. These include development works related to roads, drains, water bodies, community centers, parks, crematoriums and playgrounds. The projects will be carried out in Delhi's rural areas at a cost of Rs 93 crore, it said, adding the projects aim to improve amenities across all villages in Delhi. Rai emphasised the government's commitment to providing basic amenities not only to the urban residents but al

Fiscal profligacy by poll-bound states needs to be closely watched: UBS

Fiscal profligacy by poll-bound states needs to be watched closely, as higher spending on welfare measures will impact capital expenditure over the coming years, a Swiss brokerage said on Friday. A total of 11 states have gone to polls or are likely to have elections soon, the report by UBS Securities said, adding that four of them -- Maharashtra, Madhya Pradesh, Rajasthan and Odisha -- have increased their fiscal deficit targets. "The recent fiscal profligacy seen in poll-bound states should be watched closely," the report said. In the last few years, states managed to control their fiscal deficit under the 3 per cent level proposed by the Fifteenth Finance Commission, the report said, acknowledging that the Centre has also been bringing down the fiscal deficit. The poll-bound states are increasing their welfare spending and stimulus, which has led to a widening in their aggregate FY25 fiscal deficit estimates by 0.20 per cent in the budgets presented in June or July, it said. "W

Number of Atal Pension Yojana subscribers at 69 mn, corpus at Rs 35,149 cr

About 7 crore people have subscribed to the Atal Pension Yojana (APY) whose corpus has swelled to Rs 35,149 crore, Finance Minister Nirmala Sitharaman said on Wednesday. APY is a low-cost pension scheme that offers a guaranteed minimum pension of Rs 1,000-5,000 per month from the age of 60 years onwards (depending on the contributions by the subscribers). In case of death of the subscriber, the same pension will be provided to the spouse till he/she is alive. In the event of death of both the subscriber and the spouse, the entire corpus is given to the nominee. "Since its inception in 2015, 6.90 crore people have subscribed to the Atal Pension Yojana and a corpus worth Rs 35,149 crore has been accumulated," Sitharaman said at an event to launch the NPS Vatsalya scheme.

Food ministry inks pact with FCI to boost grain operation efficiency

The food ministry has signed an agreement with the state-run Food Corporation of India (FCI) for the 2024-25 fiscal year, aiming to enhance efficiency and accountability in foodgrain procurement and distribution. The MoU (Memorandum of Understanding) sets specific performance benchmarks, including metrics for FCI depots, and outlines accountability measures to optimise public fund usage in food security operations. "Depot efficiency parameters like capacity utilization, operational losses, security measures, and modernisation of processes are part of the performance benchmarking," the ministry said in a statement. This initiative underscores the government's commitment to refining the Public Distribution System (PDS) and ensuring efficient management of food subsidy funds through improved FCI operations. Established in 1965, FCI handles the purchase, storage, transport, distribution, and sale of foodgrains. It relies entirely on central government food subsidies, having no independ

PM E-DRIVE, eBus Sewa: How the schemes may help accelerate EV adoption

The two schemes, with over Rs 14,000 crore allocated to boost EV adoption, focusing on electric two-wheelers, buses, and charging stations, aim to support India's emissions-reduction goals

Best of BS opinion: Lessons from the Wayanad tragedy, banking for growth

Here is the best of Business Standard's opinion pieces for today

Value proposition is key to the success of e-commerce export hubs scheme

The draft modalities are quite detailed but these will need suitable vetting by the revenue department

Do policy reversals make a difference to the problem of private investment?

Policy reversals make little difference to the problem of private investment

Budget's inclusive urban development plan could not have been more timely

The economic growth that we envisage for becoming a high-income country cannot be achieved if our cities are not planned in a way to reach their maximum potential

Investment revival: Why reliance on govt spending alone is unsustainable

As the fiscal space tightens, it will be important for private investment to pick up to sustain economic growth over the medium to long term

Ministries set to miss deadline? Govt's 100-day programme faces uncertainty

The government's 100-day timetable is set to conclude by mid-September, yet very few departments are publicly updating their progress toward meeting their targets