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Govt to extend UDAN scheme for 10 more years: K Rammohan Naidu
YourStory
·
8m ago
Medial
The Indian government is extending the regional air connectivity scheme UDAN for another 10 years. UDAN aims to enhance regional air connectivity and affordability. Since its introduction in 2016, it has led to the establishment of 601 routes and 71 airports. The scheme has also contributed to the growth of regional airlines, job creation, and tourism. The Ministry of Civil Aviation is working to streamline procedures and ensure financial viability for the extended period. The plan is to increase the number of operational airports from 157 to 350-400 by 2047.
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Govt launches mobile app for PM Internship Scheme
Economic Times
·
4m ago
Medial
Union Minister Nirmala Sitharaman launched a mobile app for the Prime Minister Internship Scheme, encouraging company participation. The scheme aims to provide 1.25 lakh internship opportunities in 2024-25, focusing on youth from Tier II and III cities to meet industry skill demands. Interns will receive Rs 5,000 monthly for 12 months and a Rs 6,000 grant. Announced in the 2024-25 Union Budget, it targets 1 crore internships in five years with top companies.
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Bihar to get six new airports, cabinet gives key approval
Economic Times
·
29d ago
Medial
The Bihar cabinet has approved the development of six new airports in Madhubani, Birpur, Munger, Valmiki Nagar, Muzaffarpur, and Saharsa under the UDAN scheme by the Airports Authority of India (AAI). A budget of Rs 150 crore has been allocated, with Rs 25 crore for each airport. Additionally, a five-star hotel near Patna's Income Tax Golumber will be constructed through a public-private partnership. The cabinet also addressed issues such as agricultural support prices and staffing guidelines.
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India considering $7.2 bln housing loan interest subsidy scheme- govt sources
Reuters
·
1y ago
Medial
India is planning to allocate 600 billion rupees ($7.2 billion) for subsidised loans aimed at small urban housing over the next five years. The scheme, proposed by Indian Prime Minister Narendra Modi, will provide an annual interest subsidy of 3-6.5% for housing loans below five million rupees, benefiting around 2.5 million low-income loan applicants in urban areas. The funds will be credited upfront to the loan account. The scheme is expected to be rolled out by banks in the coming months.
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Out with the old, in with the cool new AC: Govt working on scheme to replace units that are over 10 yrs old with fresh
Economic Times
·
6d ago
Medial
The power ministry of India is developing a plan to encourage consumers to replace air conditioners (ACs) older than 10 years with new five-star energy-efficient models at reduced prices. The proposal includes scrapping old ACs through authorized e-waste partners and purchasing new units via electricity distributors. This initiative follows a model similar to the Ujala scheme, which successfully distributed LED bulbs. The plan includes incentives for manufacturers and possible credits from electricity distributors.
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Govt To Invite Bids For Building 10 GW Battery Storage Projects
Inc42
·
9m ago
Medial
- Vijay Mittal, joint secretary in the Ministry of Heavy Industries, stated that the new projects will enhance India's presence in the energy storage sector. - Out of the 50 GWh allotted under the PLI scheme, over 40 GWh has been designated for OEMs to promote domestic manufacturing of ACCs. - Reliance Industries Ltd was recently selected as the successful bidder for 10 GWh ACC manufacturing under the PLI scheme. - The initiatives aim to strengthen India's position in the energy storage segment and boost indigenous manufacturing. - The Ministry of Heavy Industries is actively working towards promoting the adoption of advanced energy technologies in the country.
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Ratan Tata’s trusted manager Shantanu Naidu’s project ‘Bookies’ launching in Jaipur. Here’s what it is about
Livemint
·
7m ago
Medial
Shantanu Naidu, Ratan Tata's mentee and executive assistant, has launched a project called Bookies. It encourages people to gather in public places and read silently. The project was initially introduced in Mumbai and has expanded to Pune and Bengaluru. Naidu plans to launch Bookies in Jaipur on December 8th and aims to expand it to other cities like Ahmedabad, Kolkata, Delhi, and Surat. Through Bookies, Naidu hopes to bring back the habit of reading and believes that reading as a community will help develop this habit more effectively.
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Cabinet Approves PSM Scheme With INR 3,435 Cr Outlay To Promote Adoption Of Ebuses
Inc42
·
10m ago
Medial
The government has introduced a new scheme to promote electric buses in India. The scheme aims to deploy more than 38,000 electric buses over a five-year period from 2025 to 2029. The government will provide support for the operation of these buses for up to 12 years. In addition to this scheme, the government has also approved the FAME-III scheme, now called the PM E-DRIVE scheme, to promote electric vehicles in the country.
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Ola Electric gets govt notice for missing PLI targets
Inshorts
·
4m ago
Medial
Ola's battery unit Ola Cell Technologies reportedly received government notice for failing to meet targets specified under the PLI ACC scheme. In 2022 Ola was selected for PLI scheme to establish a 20 GW local battery manufacturing facility. According to reports, Ola Electric, Reliance battery storage, among others will have to pay penalty for missing the targets under the scheme.
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NBFC lobby seeks govt incentives for EV financing to overcome bottlenecks
YourStory
·
4m ago
Medial
A lobby group of non-bank lenders has requested a government incentive scheme for electric vehicle (EV) financing, similar to the FAME and PLI schemes, to overcome bottlenecks in EV adoption. The Finance Industry Development Council highlighted challenges such as the lack of incentives for financiers, and issues with battery life assessment and resale mechanisms. They proposed setting up a dedicated fund with SIDBI or NABARD and offering subsidized interest rates for EV loans under Rs 10 lakh.
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Govt approves PLI for electronics components; industry applauds
Inshorts
·
3m ago
Medial
The Union Cabinet approved a ₹22,919 crore PLI scheme for electronics components, boosting the 'Make in India' initiative and strengthening manufacturing. Industry associations like IESA, FAIITA, and companies like HCL have welcomed the move, signaling positive growth for India’s electronics sector. The scheme is expected to drive innovation and job creation.
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