February 03, 2023
The Budget allocation for the Ministry of Youth Affairs and Sports has been increased by 11% to US$ 415 million (Rs. 3,397.32 crores) in comparison to FY23, which is the highest-ever budget allocation for the Ministry since 2010.
The Government e-Marketplace (GeM) has achieved US$ 18 billion (Rs. 1.5 lakh crores) worth of Gross Merchandise Value (GMV) in FY23 alone, as of February 1, 2023.
Electronics manufacturing and auto get the best of Budget spending on PLI scheme
The Union Budget 2023-24 has put aside US$ 988 million (Rs. 8,083 crores) for the production-linked incentive schemes (PLI), and the majority of money is going for large-scale electronics manufacturing.
India and US have agreed to streamline the funding for research projects
India and the US have signed an agreement that would streamline the selection and funding process of research projects between scientists and engineers from the two countries, as per the National Science Federation (NSF).
About 8.8 LMT of wheat has been sold on the first day of the e-auction by the Food Corporation of India under the Open Market Sale Scheme (Domestic), where around 22 LMT has been offered for the e-auction.
According to the latest monthly data by the Reserve Bank of India (RBI), the priority sector loans to micro and small enterprises (MSEs) by scheduled commercial banks saw an 11.2% year-on-year growth in December 2022.