June, 2018

Tata Steel approves JV with Thyssenkrupp

The board of Tata Steel has approved the terms to create a 50:50 joint venture of Tata Steel’s European steel businesses and Thyssenkrupp AG. The JV would create it second-largest steelmaker after steel tycoon Lakshmi N Mittal’s ArcelorMittal in Europe. The company plans to produce 35,000 million tonnes steel used in transformers for power sector against the current capacity of 10,000 mt.

Aadhaar Virtual ID to be started from July 1

UIDAI has recently declared to accept Virtual ID from their users from 1st July from service providers and agencies like banks and telecom companies. This will give the users the option of not sharing their Aadhaar number at the time of authentication. The Virtual ID will be a temporary and revocable 16 digit random number mapped to a person’s Aadhaar number.

Fiscal deficit hits 55% due to higher capex

30 : The Centre’s fiscal deficit for the first two months of the fiscal year 2018-19 stood at Rs 3.45 trillion, this is a sign of growing economy. The fiscal deficit target for 2018-19 is Rs 6.24 trillion, or 3.3 percent of the gross domestic product. The difference between total revenue and total expenditure of the government is termed as fiscal deficit.

NITI Aayog releases first Delta ranking

NITI Aayog has launched the first Delta ranking (incremental progress) for the Aspirational Districts. The ranking is based on self-reported data of districts across 5 developmental areas of Health & Nutrition, Education, Agriculture & Water Resources, Financial Inclusion & Skill Development & Basic Infrastructure. The ranking is a tool to identify sectors and indicator specific challenges.

GNFC: 1st in India to use Blockchain Tech

GNFC (Gujarat Narmada Valley Fertilisers & Chemicals) crosses another milestone by using Fertilizer subsidy disbursement through blockchain technology. NITI Aayog & GNFC signed a statement of Intent to implement a proof-of-concept using the Blockchain technology. Farmers will be benefited as the process transparency is evident, transactions cannot be altered and digital fraud can be altered.

Dutee Chand sets new national record in 100m

Dutee Chand broke her 100m national record at 58th National Inter-State Senior Athletics Championships at Guwahati. The 22-year-old Dutee, representing Odisha, ran 11.29 sec in the semifinal race to better her national record of 11.30sec and later clinched the gold in 11.32sec. She has already qualified the 2018 Asian games which will be held in Jakarta and Palembang.

Mumbai is 5th-least punctual airport : Report

According to the British aviation intelligence firm OAG, Mumbai is the fifth-least punctual airport in the world in terms of on-time performance out of 513 airports. Japan’s Nagoya Komaki airport was ranked the best with 94.5% on-time performance during the 12-month period. The top Indian airport on the list was Port Blair, which recorded 84.6 per cent on-time performance and ranked 65.

IISc to boost science start-up incubation

The Indian Institute of Science plans to open a research park at its Bengaluru facility within the next three years to incubate sci-tech companies. These parks would include simulators used for endoscopy, microsatellites to access the Internet at lower costs, a medical diagnostic kit. The institute collaborations with companies such as TCS, Volvo, Google, General Motors, Boeing etc.

Agriculture JWG between Gujarat and Israel

Gujarat CM Vijay Rupani and Israel’s Agriculture and Rural Development Minister Uri Ariel and announced a joint working group in the fields of agriculture and allied sectors. The initiative is taken as a step to double the farmers’ income by 2022. This Agriculture Plan would also explore opportunities for using the hi-tech protective cultivation and precision farming methods of Israel.

World Bank: Maha most vulnerable to climate

Maharashtra is among the states where people’s standards of living are most vulnerable to climate change, says a World Bank study released, titled “South Asia’s Hotspots”. The study projects that India could shave off 2.8% of GDP by 2050 if greenhouse gas emissions continue unmitigated. Many districts will see 9% – 11% decline in standards of living with Chandrapur district topping at 12.4%.