Union Ministry of New and Renewable Energy has notified Scheme Guidelines for implementation of ‘Innovative Projects’ under PM-Surya Ghar: Muft Bijli Yojana on 8th October 2024.
Under the scheme component 'Innovative Projects’, ₹500 crores has been earmarked to encourage advancements in rooftop solar technologies, business models, and integration techniques.
The component seeks to identify and support startups, institutions, and industries in piloting new concepts, focusing on emerging solutions like blockchain-based peer-to-peer solar trading, smart materials, and rooftop solar integrated with electric vehicles and battery storage.
To drive this forward, MNRE will invite proposals and encourage joint research and international collaborations. National Institute of Solar Energy (NISE) will serve as the Scheme Implementation Agency (SIA) for the Innovative Projects Component. Selected projects will receive financial assistance of up to 60% of the project cost or ₹30 crore, whichever is lower.
Additionally, annual awards for innovation will be granted to encourage further advancements, with prizes up to ₹1 crore.
The Government of India approved the PM-Surya Ghar: Muft Bijli Yojana on 29th February 2024, to increase the share of solar rooftop capacity and empower residential households to generate their own electricity.
The scheme has an outlay of Rs 75,021 crore and is to be implemented till FY 2026-27.
The Reserve Bank of India (RBI) imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Mansing Co-operative Bank Limited, Dudhondi (the bank) for non-compliance with certain directions issued by RBI on ‘Income Recognition, Asset Classification, Provisioning, and Other Related Matters- UCBs’.
The Reserve Bank of India (RBI) imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Jaihind Urban Co-operative Bank Limited, Pune (the bank) for non-compliance with the directions issued by RBI on ‘Maintenance of Deposit Accounts – Primary (Urban) Co-operative Banks’.
The Reserve Bank of India (RBI) imposed a monetary penalty of ₹2.50 lakh (Rupees Two Lakh Fifty Thousand only) on Sonbhadra Nagar Sahkari Bank Limited, Sonbhadra (the bank) for contravention of the provisions of section 26A read with section 56 of the Banking Regulation Act, 1949 (BR Act).
The Reserve Bank of India (RBI) imposed a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on The Parwanoo Urban Co-operative Bank Limited, Parwanoo (the bank) for non-compliance with the specific directions issued by RBI under Supervisory Action Framework (SAF).
Raksha Mantri Shri Rajnath Singh, on October 12, 2024, virtually dedicated to the nation 75 infrastructure projects of Border Roads Organisation (BRO) at Rs 2,236 crore. These projects - 22 roads, 51 bridges & two others - are spread across 11 States/Union Territories. Nineteen (19) are in Jammu & Kashmir, 18 in Arunachal Pradesh, 11 in Ladakh, nine in Uttarakhand,
six in Sikkim, five in Himachal Pradesh, two each in West Bengal & Rajasthan, and one each in Nagaland, Mizoram, and Andaman & Nicobar Islands.
Raksha Mantri inaugurated the projects from the Headquarters, of Trishakti Corps in Sukna, West Bengal. One of the main highlights was the inauguration of the Kupup-Sherathang Road in Sikkim,
which serves as a crucial link between Jawahar Lal Nehru Marg and Zuluk axis.
With the inauguration of these 75 projects, BRO has completed a total of 111 infrastructure projects in 2024 at an overall cost of Rs 3,751 crore which includes 36 projects worth Rs 1,508 crore, such as the state-of-the-art Sela Tunnel in Arunachal Pradesh, inaugurated by Prime Minister earlier.
Last year, 125 infrastructure projects of BRO were dedicated to the nation at a cost of Rs 3,611 crore.
The Union Government has released the first instalment of the Fifteenth Finance Commission (XV FC) grants for the financial year 2024–25 to the Rural Local Bodies (RLBs) in Andhra Pradesh and Rajasthan. Andhra Pradesh has received untied grants amounting to ₹395.5091 crores and tied grants totalling ₹593.2639 crores.
These funds are for duly elected 9 eligible District Panchayats, 615 eligible Block Panchayats,and 12,853 eligible Gram Panchayats in Andhra Pradesh. While in Rajasthan, untied grants of ₹507.1177 crores and tied grants of ₹760.6769 crores have been released for the duly elected 22 eligible District Panchayats, 287 eligible Block Panchayats and 9,068 eligible Gram Panchayat
in the state.
The untied grants will enable Panchayats to address specific local needs across 29 subjects under the Eleventh Schedule of the Constitution of India, ranging from agriculture and rural housing to education and sanitation. These funds, however, cannot be used for salaries or establishment costs.
The tied grants will focus on core services such as sanitation, maintenance of open-defecation free (ODF) status and water management, including rainwater harvesting, water recycling, and treatment of household waste.
n line with Article 243G of the Indian Constitution, these funds empower Panchayats to manage essential services and infrastructure.
Government of India through Ministry of Panchayati Raj and Ministry of Jal Shakti (Department of Drinking Water and Sanitation) recommends release of XV-FC Grants to States for Rural Local Bodies which are then released by Ministry of Finance. The allocated Grants are recommended and released in 2 instalments in a financial year.
The government has given L Satya Srinivas, Additional Secretary in the 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).
The GeM portal was launched on August 9, 2016, for online purchases of goods and services by all central government ministries and departments.
Net direct tax collection grew 18.3 percent to about Rs 11.25 trillion as of October 10 this fiscal, government data showed.
The mop-up includes personal income tax collection of Rs 5.98 trillion and corporate tax collection of Rs 4.94 lakh crore. Securities Transaction Tax (STT) stood at Rs 30,630 crore,
The income tax department had collected Rs 9.51 trillion during the same period a year ago.
Refunds worth Rs 2.31 trillion were issued between April 1 and October 10, a growth of 46 percent.On a gross basis, direct tax collection grew 22.3 percent to Rs 13.57 lakh crore. The collection includes personal income tax of Rs 7.13 trillion and corporate tax of Rs 6.11 lakh crore.
The government has budgeted to collect Rs 22.07 trillion in the current fiscal from direct taxes.
A significant number of women-owned micro businesses in India lack savings for financial emergencies, making them highly vulnerable to economic shocks, said a report.
The report titled 'Decoding the Financial Health of Women-Owned Micro-Businesses (wMB) in India' was prepared by MicroSave Consulting (MSC) in collaboration with Sa-Dhan and supported by JPMorgan Chase.
The research covers six regions - Delhi-NCR, Gujarat, Maharashtra, Telangana, Karnataka, and Tamil Nadu - providing data-driven insights and calls for targeted interventions.
The report indicated that 45 per cent of women entrepreneurs lack savings for financial emergencies, making them highly susceptible to economic shocks.
It further said 60 percent of respondents did not maintain any written records for their operations. Among these, 55 percent believe separate records are unnecessary due to small profit margins or scale, while others find maintaining records too complex. As a result, they struggle to track business performance and assess financial health.
Autonomy is another significant issue for women microentrepreneurs, with approximately 44.3 percent relying on their spouses or other family members for business support, highlight a considerable dependence on external assistance.
The report defined women-owned microbusinesses as those with annual revenues between Rs 1.50 lakh and Rs 9 lakh, employing three individuals.
The World Trade Organization (WTO) revised downwards its projection of world merchandise trade growth to 3 per cent in 2025, from its earlier estimate of 3.3 per cent.
For 2024, the WTO revised upwards its forecast for merchandise trade growth to 2.7 per cent, up from the previous estimate of 2.6 per cent.
However, the multilateral trade body in its latest bi-annual trade outlook ‘Global Trade Outlook and Statistics’ said that risks to the forecast are firmly on the downside due to regional conflicts, geopolitical tensions and policy uncertainty.
The report further said that Europe has continued to weigh heavily on global merchandise trade in 2024,
acting as a drag on overall performance for both imports and exports. The main sectors driving European negative export performance include chemicals due to change in the trend after a surge in demand during the pandemic.
India has officially launched its ‘Study in India’ campaign at the 20th International Education Show in Sharjah, marking a significant push to attract international students to its universities. Organized by EdCIL, a Miniratna company under the Ministry of Education, the campaign seeks to position India as a leading global education hub.
The India Pavilion at Expo Centre Sharjah was inaugurated by Ahmed Mohamed Obaid Al Naboodah of the Sharjah Chamber of Commerce and Industry and Yatin Patil, Deputy Consul General of India in Dubai. The ‘Study in India’ programme showcases over 590 Indian universities and institutions, offering a variety of courses and exclusive benefits such as,
fee waivers and scholarships for international students. The campaign highlights India’s commitment to providing quality education at affordable prices, making it an attractive destination for students from developing countries. India’s higher education sector, ranked as the second largest in the world, continues to rise in global rankings.
EdCIL’s Executive Director, Dr. B. Chandrashekhar, emphasized the Study in India portal, a centralized platform designed to streamline the entire application process for international students. “This portal simplifies admissions, allowing students to explore academic programs, apply to multiple institutions, and manage their visas, all in one place,” he said.
The International Education Show, organized in cooperation with the Sharjah Private Education Authority, is considered one of the fastest-growing and most distinguished higher education exhibitions. Organized by Expo Centre Sharjah with the support of the Sharjah Chamber of Commerce and Industry (SCCI), the event features over 100 universities.
World Migratory Bird Day is officially celebrated on the second Saturday of May in Canada and the US (May 11th in 2024), and the second Saturday of October in Mexico, Central and South America, and the Caribbean (October 12nd in 2024).
In 2024, World Migratory Bird Day will be celebrated on two days, 11 May and 12 October, aligning with the cyclic nature of bird migration,
This year's World Migratory Bird Day theme, "Protect Insects, Protect Birds" is an opportunity to raise awareness of the importance of insects, to educate, and to learn.
The World Migratory Bird Day campaign in 2024 will stress the need for proactive conservation measures.
