India News
Cabinet approves Rs 2,600 crore incentive for digital transactions
The incentive programme for the promotion of RuPay Debit Cards and low-value BHIM-UPI transactions (person-to-merchant) for a period of one year starting in April 2022 has been authorised by the Union Cabinet, which is presided over by Prime Minister Narendra Modi.
The incentive programme for the promotion of RuPay Debit Cards and low-value BHIM-UPI transactions (person-to-merchant) for a period of one year starting in April 2022 has been authorised by the Union Cabinet, which is presided over by Prime Minister Narendra Modi.
A budgetary investment of Rs 2,600 crore has been allocated for the incentive programme for the promotion of RuPay Debit Cards and low-value BHIM-UPI transactions (P2M) in FY 2022–23. For the current fiscal year FY 2022–23, acquiring banks will get financial incentives under the aforementioned programme to encourage Point-of-Sale (PoS), e-commerce, and low-value BHIM–UPI transactions (P2M).
The government intends to maintain the financial support for digital payments introduced in the previous Budget, with an emphasis on encouraging usage of payment platforms that are affordable and user-friendly, the Finance Minister stated in her address on the Budget for FY 2022-23. The plan was created in accordance with the aforementioned Budget release.
In accordance with the FY2021–22 budget release, the government established an incentive programme in FY2021-22 to further promote digital transactions. Because of this, the overall volume of digital payment transactions has increased annually by 59%, from 5,554 crore in FY2020–21 to 8,840 crore in FY202–21. Transactions through BHIM-UPI increased by 106% year over year, from 2,233 crore in FY2020–21 to 4,597 crore in FY202–21.
The Reserve Bank of India (RBI) and a number of other participants in the digital payments ecosystem raised concerns about the negative effects of the zero MDR regime on the development of the digital payments ecosystem. The National Payments Corporation of India (NPCI) also asked for the encouragement of BHIM-UPI and RuPay Debit Card transactions in order to develop a cost-effective value proposition for ecosystem stakeholders, expand merchant acceptance footprints, and hasten the transition from cash to digital payments.
The Indian government is launching a number of measures to promote digital payments all around the nation. Digital payment transactions have grown significantly during the past few years. Digital payments made it easier for businesses, notably small retailers, to operate during the Covid-19 crisis and contributed to the upkeep of social distance. In the month of December 2022, UPI set a record with 782.9 billion digital payment transactions worth $12.82 trillion.
This incentive programme will make it easier to develop a strong digital payment ecosystem and promote digital transactions using the BHIM-UPI and RuPay Debit Cards. In keeping with the goal of “Sabka Saath, Sabka Vikas,” the programme will also advocate for UPI Lite and UPI 123PAY as affordable and user-friendly digital payment options and help the nation’s adoption of digital payments across all industries and demographic groups.
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India News
AAP Rajya Sabha MP Sanjay Singh arrested in connection with money laundering case linked to Delhi liquor policy
The Enforcement Directorate has mentioned Sanjay Singh’s name in its charge sheet. According to the investigating agency Dinesh Arora a middle man said he had met Singh during a party in his restaurant. The name of the restaurant is Unplugged Courtyard.
The Enforcement Directorate on Wednesday arrested Aam Aadmi Party Rajya Sabha MP Sanjay Singh after searches were conducted at his residence in connection with the Delhi liquor policy case. The central investigating agency questioned Sanjay Singh for 10 hours before arresting him.
Houses of several people close to the AAP MP were also searched. The Enforcement Directorate had named Sanjay Singh in its charge-sheet. According to the investigating agency, Dinesh Arora, a middle-man, said he had met Singh during a party in his restaurant, Unplugged Courtyard.
Before leaving his home with the ED officers, Sanjay Singh touched his mother’s feet to take her blessings. Sanjay Singh’s father said they would cooperate fully with ED officials. He added he told his son Sanjay not to worry. He said the future was positive for them as the government will change soon.
AAP convener and Delhi Chief Minister Arvind Kejriwal said the move showed BJP’s desperate measures as it stares at defeat in the 2024 Lok Sabha elections. Delhi Education Minister Atishi tweeted the BJP’s fear of losing to the INDIA alliance is clearly visible. She said Sanjay Singh worked for the people of Delhi and wondered why they don’t open an ED office in the AAP headquarters itself. Atishi added the BJP is surviving by making false allegations against AAP.
The Enforcement Directorate had arrested then Delhi Deputy Chief Minister and AAP leader Manish Sisodia in connection with the Delhi liquor policy case. Large number of comments from different political leaders of different parties started coming immediately. BJP MP Manoj Tiwari said the way the AAP leaders used to write letters it seemed there was no one as honest as them. Tiwari added the AAP leader’s co-accused have turned approvers. He said the flame will not end with Sanjay Singh, Manish Sisodia and Satyendar Jain but will reach Arvind Kejriwal as well.
India News
Government hikes subsidy for Pradhan Mantri Ujjwala Yojana beneficiaries from Rs 200 to Rs 300 per LPG cylinder
Ujjwala beneficiaries are paying Rs 703 per 14.2 cylinder as against the market price of Rs 903. After this announcement they will pay Rs 603.
Union Minster Anurag Thakur announced the Central government has hiked the subsidy amount for Pradhan Mantri Ujjwala Yojana beneficiaries from Rs 200 to Rs 300 per LPG cylinder on Wednesday. Anurag Thakur said the subsidy will bring an additional financial implication of Rs 7680 crore for the financial year 2023-24.
Ujjwala beneficiaries are paying Rs 703 per 14.2 cylinder as against the market price of Rs 903. After this announcement they will pay Rs 603. The decision has been made one month after the central government reduced the price of the price of cylinders for domestic cooking gas by Rs 200 for all customers.
The Pradhan Mantri Ujjwala Yojana (PMUY) was launched by PM Modi on May 1, 2016 in UP’s Ballia. The scheme aims to provide cooking gas like LPG to the people of rural India. The scheme focuses on offering LPG connections to women from disadvantaged groups, forest dwellers, Antyoday Anna Yojana (AAY), Pradhan Mantri Awas Yojana (PMAY), SC/ST communities and BPL households.
The Union Cabinet has approved the extension of PMUY for release of 75 lakh LPG connections over three years from the financial year 2023-24 to 2025-26. The 75 lakh additional Ujjwala connections take total number of PMUY beneficiaries to Rs 10.35 crore.
The decision to give additional subsidies for Ujjawala beneficiaries has come ahead upcoming elections in Telangana, Chhattisgarh, Mizoram, Madhya Pradesh and Rajasthan. Congress has repeatedly attacked the BJP government at the centre as it is an important issue. It was also a part of BJP’s election campaign in 2014 when Congress was in power at the centre. The decision has been taken by the Union government at a time when domestic LPG cylinders are available at a retail price of Rs 1103 per LPG cylinder.
India News
Rasabali: Famous sweet dish of Odisha’s Kendrapara district gets GI tag
Chief Minister Naveen Patnaik took to X (formerly twitter) and said it is a matter of pride for Odisha to get the GI tag for Kendrapara Rasabali. Patnaik added Rasabali has special importance to tradition and food culture of Odisha.
The Geographical Indications Registry, Chennai under the ministry of Commerce and industry gave the GI tag to the sweet dish, which is known as Kendrapara Rasabali. Kendrapara Rasabali Mistanna Nirmata Sangha and the rural infrastructure development and employment department had applied for GI tag for Rasabali. They had submitted the supporting documents to the registry.
Chief Minister Naveen Patnaik took to X (formerly twitter) and said it is a matter of pride for Odisha to get the GI tag for Kendrapara Rasabali. Patnaik added Rasabali has special importance to tradition and food culture of Odisha. The origin of the sweet dish is from the 262 year old Sree Baladevjew temple. The presiding diety of the shrine is offered Rasabali as bhog. Rasabali finds its place among the chappan bhog at Shree Jagannath Temple in Puri.
The tag is a matter of pride for the sweetmakers. The recognition gives the product its own identity and image. Baishnab Panda, president of Kendrapara Rasabali Makers association was delighted and said the sweet will get better exposure now. Kendrapara’s Rasabali is one of the most delicious sweets in India. But it is not getting marketed properly due to poor export facilities and poor promotion.
Kendrapara Rasabali Mistanna Nirmata Sangh had prepared a dossier in the year 2021 in order to claim geographical identification tag for the sweetdish. Basudev Das a researcher of Kendrapara said the request had been submitted to the state government. The government further forwarded the request to the office of Geographical Indications Registry in Chennai.
The GI tag will help Kendrapara Rasabali to get more prominence in the market. This will in turn help the makers to fetch a better price for the sweetdish. According to NandaKishore Parida This GI certification will help in stopping the adulteration of Kendrapara Rasabali. As a result the sweet dish will fetch better prices in the market.
