Published By : Admin |
February 1, 2020 | 16:59 IST
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Union Minister for Finance & Corporate Affairs, Smt Nirmala Sitharaman, while presenting the Union Budget 2020-21, in Parliament today, said that infrastructure was crucial to the theme of “Economic development” and hence the Budget which is dedicated to provide “Ease of Living” to all citizen.
Emphasising need for efficiency of India Sea Ports and use of technology to improve their performance, Smt Nirmala Sitharaman, said “The government would consider corporatizing at least one major port and subsequently its listing on the stock exchanges.”
Speaking about Inland Waterways, the Finance Minister also announced that the “Jal Vikas Marg” on National Waterway-1 will be completed and further the 890 Km Dhubri-Sadiya connectivity will be done by 2022”.
Smt Sitharaman further said that Plans are afoot on “Arth Ganga”- PM’s vision to energise economic activity along the river banks. In order to boost the transport Infrastructure in the country the Union Budget has provided for about Rs 1.70 Lakh Crore.
Impetus to Civil Aviation Sector
The Finance Minister also announced that 100 more airports would be developed by 2024 to support Udaan scheme. She also remarked in her Budget presentation that India’s Air traffic has grown rapidly as compared to global average and the Air fleet number was expected to go up from the present 600 to 1200 during this time.
In the direction of doubling farmers’ income by 2022, among other measures, the Finance Minister also announced launch of “Krishi Udaan” by the Ministry of Civil aviation on International & National routes. This is aimed to help improve value realisation especially in North-East and Tribal districts.
Power and Renewable Energy
The Union Finance Minister, also proposed an allocation of Rs. 22000 crore for Power and Renewable Energy sector in 2020-21. Finance minister urged all States and Union Territories to replace conventional meters by prepaid “Smart Meters” in the next 3 years and measures to reform DISCOMs.
Further, the Finance Minister proposed in the Budget that national gas grid would be expanded from the present 16200 km to 27000 km with further reforms to be undertaken to facilitate transparent price discovery and ease of transactions.
The Finance Minister also proposed to extend corporate tax rate of 15% to new domestic companies engaged in the generation of electricity.
From the skies to the seas, from AI to ancient crafts, India's story this week is one of expansion, breakthroughs, and bold moves. A booming aviation industry, a scientific revelation in the Indian Ocean, a historic satellite launch, and a surge in AI jobs—India is stepping into the future with confidence. Meanwhile, ties with Armenia deepen, a major aerospace firm eyes Indian shores, and artisans breathe new life into heritage toymaking. Let’s dive into the stories that define India’s unstoppable rise.
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Taking Off: India’s Aviation Boom and the Urgent Need for Pilots
With over 1,700 aircraft orders, India’s aviation industry is gearing up for unprecedented expansion. The current fleet of 800+ planes is set to grow, and with it comes a pressing demand: 30,000 pilots needed in the next two decades. The Ministry of Civil Aviation is working to ramp up pilot training infrastructure, positioning India as a global hub for flight training. The skies are getting busier, and India is ready.
AI Surge: India’s Tech Workforce Faces a Crucial Moment
The Artificial Intelligence sector is racing ahead, with 2.3 million job openings projected by 2027. Globally, AI job postings have shot up by 21% annually, while salaries in the sector are growing at 11% each year. However, the talent gap is expected to persist, which can be filled by India, which isn’t just adopting AI—it’s shaping the global AI workforce.
The NISAR Satellite: A Game-Changer for Global Agriculture
A joint NASA-ISRO mission, the NISAR satellite is about to revolutionize farming worldwide. This cutting-edge technology will provide unparalleled insights into crop growth, plant health, and soil moisture levels, empowering farmers and policymakers with real-time data. Precision agriculture is no longer the future—it’s the present, and India is leading the way.
The Mystery of the Indian Ocean’s Gravity Hole—Solved!
For decades, a bizarre gravitational anomaly in the Indian Ocean puzzled scientists: a dip in sea level 106 meters lower than the global average. Now, Indian scientists have cracked the mystery—it’s the result of deep-seated mantle dynamics shaping the Earth from within. This discovery not only unravels a geological enigma but also enhances our understanding of the planet’s internal forces.
Champions Again! India Lifts the ICC Trophy
Cricket fans across the country erupted in joy as Team India clinched the Champions Trophy, adding another milestone to its legacy. PM Narendra Modi congratulated the Indian Cricket team, hailing their perseverance and skill. From the T20 World Cup win to this latest triumph, Indian cricket remains a force to be reckoned with.
India Rescues 300 Nationals from Cybercrime Syndicates
Nearly 300 Indian citizens, lured to Southeast Asia with fake job offers, found themselves trapped in cybercrime rings. The Indian government’s action secured their release, with diplomatic missions in Myanmar and Thailand playing a key role. This operation reinforces India’s commitment to protecting its people abroad. (Reuters)
Mubadala’s Sanad Eyes India’s Aerospace Market
UAE-based Mubadala’s Sanad, a leading name in aerospace engineering, has set its sights on India following a record revenue of Dh4.92 billion in 2024. This move showcases India’s growing prominence in global aviation and aerospace manufacturing.
Bessemer’s $350M Double Downs on India’s Startups
Global venture capital giant Bessemer Venture Partners is doubling down on India with a $350 million fund, aimed at SaaS, fintech, cybersecurity, and digital health startups. This reflects India’s surging startup ecosystem, attracting major global investors eager to tap into its innovation potential.
India’s Toymakers Keep Heritage Alive Amid a flood of mass-produced plastic toys, Indian artisans are keeping traditional wooden toymaking alive. This craft, passed down through generations, is seeing renewed interest. The government has stepped in with initiatives to turn India into a global hub for handcrafted toys, blending tradition with new-age markets.
A Nation on the Move India’s story this week is one of ambition, resilience, and global leadership. Whether it’s solving scientific mysteries, shaping the future of AI, expanding its aerospace footprint, or rescuing its citizens from international fraud rings, India is making waves across the world. The momentum is undeniable—and this is just the beginning.
