Bihar Affairs
Bihar, opposition states corner 74% of Centres capex aid
Biharwill receive the largest chunk of the Rs 56,415 crore cleared by theCentrefor 16 states as part of the scheme to boostcapital .
The finance ministry said Bihar is in line to receive Rs 9,640 crore, or 17%, of funds, with Madhya Pradesh next. Opposition-ruled states have cornered Rs 41,566 crore, almost three-fourth so far, with West Bengal, Rajasthan and Odisha among top beneficiaries.
Capital investment projects in diverse sectors havebeen approved, including Health, Education, Irrigation, water supply, power, roads, bridges and railways. Funds for meeting the states share of Jal Jeevan Mission and Pradhan Mantri Gram Sadak Yojana have also been provided to enhance pace of the projects in these sectors
Under the scheme, in 2023-24, special assistance is being provided to the states through 50-year interest-free loans up to Rs 1. 3 lakh crore. While there are eight components, the biggest, of Rs 1 lakh, is linked to the share of taxes and duties as prescribed by the 15th Finance Commission, along with compliance with the reforms proposed by the Centre.
National and International Affairs
Indian DGCA and EU aviation agency to collaborate on unmanned aerial vehicles
India is quickly moving to take its success in the area of drones to the next logical steps like using air taxis for urban mobility. Aviation authorities are tying up with international agencies to make the framework of rules to safely implement them same by devising air traffic management solutions; develop certification standards and putting in place the required infra.
TheDirectorate General of Civil Aviation(DGCA) has signed aMoUwith theEuropean Union Aviation Safety Agency(EASA) for cooperation in unmanned aircraft systems and innovative air mobility. This comes on heels of the two civil aviation authorities signing a letter of intent (LoI) on these two issues during the EU-India Aviation Summit held in New Delhi this April.
The MoU will also ensure regular information sharing between the two authorities on the technological developments and research in this area and also their respective strategies for outreach to relevant stakeholders. Further, the MoU will result in collaboration in conducting conferences, workshops, training programmers by DGCA and EASA in this area. The signing of this MoU is expected to result in harmonised standards and accelerated Growth of Indian unmanned aviation sector.
Chandrayaan-3 integrated with launch vehicle
In a major milestone,Isro said it has integrated the Chandrayaan-3 spacecraft with the launch vehicle GSLV-Mk3or LVM3.
The space agency is looking at a mid-July launch (between July 12 and 19) window for India’s third lunar mission, and a second attempt at soft-landing equipment on Moon.
While the mission will carry a lander (Vikram) and rover (Pragna), it won’t carry an orbiter, which has been replaced by a propulsion module.
After its failed landing attempt in September 2019, Isro has carried out several changes on the lander.
At Rs 97,000, Gujarat ranks ninth in deposits per capita
Gujarat is among the top 10 states in India in deposits per capita, according to data from theReserve Bank Of India.
The states deposits per capita is Rs 97,000, ninth highest among the major states of India as of March 31, 2023. While the per capita deposits of several smaller states and Union territories are higher, among the major states, Gujarat stands ninth.
Gujarat is behind Delhi (Rs 3.94 lakh), Goa (Rs 3.92 lakh), Haryana (Rs 1.64 lakh),Punjab(Rs 1.51 lakh), Karnataka (Rs 1.26 lakh), Uttarakhand (Rs 1.24 lakh), Maharashtra (Rs 1.24 lakh) andKerala(Rs 1.02 lakh) on this parameter.
According to the latest report from the Gujarat state-level bankers committee (SLBC), aggregate deposits at banks in the state including scheduled , cooperative and small finance banks, stood at Rs 10.76 lakh crore.
India Can Surpass US e-com Market by 2034
India is poised to surpass the US as the second largest E-Commerce market by 2034, says a study by Shiprocket.
The global retail e-commerce stood at $3.35 trillion in 2019 and is expected to grow to $7.38 trillion by 2025. China e-commerce market was valued at $2779 billion in 2021. The US e-commerce market was the second largest market with $843 billion, followed by the UK, Japan, South Korea, Germany and France. India stood eighth with $67.53 billion.
According to the study, India may surpass the US by 2034 and be the second largest e-commerce market. India has the highest Growth in e-commerce followed by China. Countries like the US and the UK have been growing much slower.
India is also ranked 9th in cross-border e-commerce. Cross-border accounts for 20 per cent of global e-commerce. Indian products like fashion jewellery, textiles, ethnic wear and womens clothing have the potential to grow cross-border e-commerce.