SWAYATT stands for Start-ups, Women and Youth Advantage Through eTransactions on Government e Marketplace (GeM).It is an initiative to promote MSMEs, women and young entrepreneurs through e-transactions on the Government e-Marketplace (GeM). It was launched by the Ministry of Commerce and Industry.This will bring together the key stakeholders within the Indian entrepreneurial ecosystem to Government e-Marketplace, the national procurement portal. Government e Marketplace is an online… Continue reading Commerce Minister launches SWAYATT on GeM
Category: Daily Factly articles
Aussie mammal the first ‘climate change extinction’
Australia officially declared a Great Barrier Reef rodent extinct, making it the first mammal believed to have been killed off by human-induced climate change. Bramble Cay Melomys is a rodent which belongs to the family of Muridae. It lived solely on a tiny sand island in the Torres Strait, near the coast of Papua New… Continue reading Aussie mammal the first ‘climate change extinction’
OFB gets clearance for producing 114 long-range artillery gun ‘Dhanush’
The Ordnance Factory Board (OFB) has received a production clearance from the Indian Army and the Defence Ministry for production of 114 ‘Dhanush’ artillery guns. Dhanush is an upgraded version of the Swedish Bofors gun procured by India in the mid-1980s. Dhanush is the first long range artillery gun to be produced in India.It has… Continue reading OFB gets clearance for producing 114 long-range artillery gun ‘Dhanush’
To cut import, govt to boost production of drug ingredient
Department of pharmaceuticals has charted out a plan to boost domestic local manufacturing of Active Pharmaceutical ingredients(API) in order to reduce its import dependence on China. Bulk drugs or APIs are the active raw materials used in medicines to give them their therapeutic effect.More than 75% of India’s bulk drug imports come from China. The… Continue reading To cut import, govt to boost production of drug ingredient
Why more countries are welcoming Indian visitors
India has ranked 67 out of 199 countries in the 2019 Passport Index. In 2015, India had ranked 77. 25 countries offer visa-free entry to Indians, 39 countries offer visa on arrival. Indian tourists still need visas to enter 134 countries Among SAARC nations, India only lags behind Maldives (Rank 51) in terms of passport… Continue reading Why more countries are welcoming Indian visitors
Ordinance to curb Ponzi schemes gets a nod
The Union Cabinet has approved the Promulgation of Unregulated Deposit Schemes Ordinance, 2019. The ordinance is in regard to the Banning of Unregulated Deposit Schemes Bill, 2018. It seeks to tackle the problem of illicit deposit taking activities in India and protect the interests of depositors. It provides for complete prohibition on promoting, operating, issuing… Continue reading Ordinance to curb Ponzi schemes gets a nod
Govt relaxes norms for startups
The government has relaxed the norms under the definition of Start-Ups. The changes brought in are: (a) The investment limit of angel investors to seek exemption under the Income Tax Act, 1961 has been increased to Rs 25 crore from 10 Crore. (b) An entity shall be considered as a startup up to 10 years from… Continue reading Govt relaxes norms for startups
7 islands in Lakshadweep and Andamans identified for seaplane operations
During the 5th meeting of Island developement agency, Four islands in the Andamans and three in Lakshadweep have been identified for seaplane operations, while private sector participation has been invited for tourism based projects. These islands are (a) Swaraj Dweep (b) Shaheed Dweep (c)Hutbay and (d) Long in Andaman and Nicobar Islands and (a) Kavaratti… Continue reading 7 islands in Lakshadweep and Andamans identified for seaplane operations
Standard mediclaim policy on the cards, guidelines to be framed
Insurance Regulatory and Development Authority of India (IRDAI) has issued draft guidlines on uniform health insurance product, to be called a standard Mediclaim Policy offering basic cover by all insurers including general and health insurance businesses. The minimum basic sum insured under the standard product shall be Rs 50,000, with a maximum limit of Rs 10… Continue reading Standard mediclaim policy on the cards, guidelines to be framed
Cabinet approves Phase II of rooftop solar programme
The Cabinet Committee on Economic Affairs has approved Phase-II of the Grid Connected Rooftop Solar Programme (GCRSP). Under the phase II Programme Central Financial Assistance (CFA) for the residential sector has been restructured. Further, focus will be on increased involvement of DISCOMs and performance based incentives will be provided to them. The Grid Connected Rooftop… Continue reading Cabinet approves Phase II of rooftop solar programme
