Govt. to Launch Portals for Bringing Transparency to Road Projects
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To ensure more transparency and efficiency in its infrastructure development programs, the Government will come up with two more online portals, 'Infracon' and 'ePace,' that will provide all necessary details regarding highway projects. Infracon will have all the information about individual consultants and consultation firms and ePace will help people know about highway projects status, funding and other details.
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Cabinet Approves 'Stand Up India' Program
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In a big push for entrepreneurship, the Cabinet has approved the "Stand Up India" program and the creation of a credit guarantee fund to back the Mudra Yojana (Money Scheme). The program is aimed at promoting entrepreneurship among weaker sections of the society. The scheme is expected to benefit at east 2.5 lakh borrowers.
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Govt. Clears 8 Pacts for Info Exchange on Corporate Matters
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The Government has approved eight agreements signed by Ministry of Corporate Affairs, fair-trade regulator CCI and the Indian Institute of Corporate Affairs that will facilitate the exchange of knowledge and information, technical cooperation, experience sharing and enforcement cooperation with the organizations concerned.
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Reserve Bank OKs Banking Units in Gift City to Open Foreign Currency Accounts
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The Reserve Bank of India has allowed local banking units to open foreign currency current accounts for companies and non-resident Indians in the Gujarat-based international financial services centre (Gift City), changing an earlier policy that did not allow for any savings or current accounts in this center.
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Cabinet OKs Public-Pvt.Partnership Model for Wastewater Sector
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The Cabinet approved a proposal for taking up a hybrid annuity-based public-private partnership model under Namami Gange Programme to reform the wastewater sector in India. The government will establish a Special Purpose Vehicle (SPV) to plan, structure, procure concessionaires, monitor implementation of PPP projects and develop market for treated waste water under the proposal.
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Govt. to Organize 'Make in India Week' from Feb. 13-18, 2016
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The Government of India will organize "Make in India Week" in Mumbai from Feb.13-18, 2016. Set against the vibrant backdrop of the world's fastest growing economy, Make in India is a flagship event aimed at propelling the Indian economy by forging global engagement with Indian industry in the form of partnerships and investments. The event will showcase the potential of design, innovation and sustainability across India's focus sectors through a series of highly visible outreach initiatives.
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Netflix Launches Service in India
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Streaming video pioneer Netflix has launched its service in India, allowing viewers to access unlimited content at prices starting $7.50 per month. This is part of the company's global expansion to more than 130 new countries. The service was launched during a keynote speech by Netflix Chief Executive Reed Hastings at the Consumer Electronics Show in Las Vegas.
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Digital India: E-Governance Transactions Doubled in 2015
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Electronic transactions related to e-governance projects in the country almost doubled in 2015, owing to the Digital India program, Telecom Minister Ravi Shankar Prasad said. According to electronic transaction aggregation and analysis layer (eTaal), 3.53 billion transactions took place in 2014, which almost doubled in 2015 to 6.95 billion. eTaal is a portal under Communications and IT ministry which disseminates e-transaction statistics of national and state level e-governance projects.
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Lockheed Looks to Increase Investment in India
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U.S. defense giant Lockheed Martin said it is encouraged about the recent liberalization of India's foreign direct investment policy in the sector and is looking at increasing investments in the country. Phil Shaw, chief executive, Lockheed Martin India, said the "Make In India" initiative of the Government will help in boosting manufacturing in the country.
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World Bank: India to Stay at Top in Growth
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The World Bank has projected that India will remain comfortably the fastest growing large economy in 2016, at a rate more than a percentage point higher than China's. In its report Global Economic Prospects, the Bank projected the Indian economy to grow at 7.8 percent in 2016 and China's to grow at a more modest 6.7 percent.
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