RAJASTHAN
- Rajasthan 1st to allow MSMEs to start business without approvals
- Rajasthan has become the first Indian state to allow MSMEs to start projects without any approvals or clearances. Moreover, for three years no inspections.
- Attempting to attract investment, the Rajasthan government notified rules last week under the Micro, Small and Medium Enterprise (Facilitation of Establishment and Operation) Ordinance, 2019, that require an investor to submit only a “declaration of intent” to set up a new enterprise and start work after receiving an “acknowledgement certificate”.
- The ordinance provides exemptions from approvals and inspections under any Rajasthan law but enterprises are required to follow the prevailing rules and regulations. It also empowers state government departments to exempt any enterprise from any approval or inspection under any Central law that allows the state to exercise such powers.
- However, after the expiry of three years, the enterprise will have to obtain required approvals within six months. Companies incorporated after March 5, when the ordinance was promulgated, will be eligible.
- Slowdown in new investment and the urgency to create jobs for the youth have been the driving forces behind the ordinance which the state government expects to pass into law in the coming assembly session. More than 90% of industry in Rajasthan comprises MSMEs.
INTERNATIONAL
- World’s highest weather stations installed on Mount Everest
- A team of Tribhuvan University and National Geographic Society scientists and researchers have installed the world’s highest, fully automated weather stations atop Mount Everest.
- Total five weather stations, including one at a record height of 27,657 feet, were installed on the Earth’s highest mountain above sea level.
- The weather station will record data on temperature, relative humidity, barometric pressure, wind speed, and wind direction.
- UNCTAD World Investment Report 2019
- According to the United Nations Conference on Trade and Development (UNCTAD) World Investment Report 2019, India received foreign direct investments (FDI) worth USD 42 billionin 2018.
- India attracted over 77% of the total foreign direct investments that came to the South Asian region.
- The global FDI slipped by 13%in 2018, to US$1.3 trillion from $1.5 trillion in 2017, the third consecutive annual decline.
- India’s rank as a source country for FDI dropped one place to the 10th position as it was overtaken by Spain.
- Investment in India rose by 6% to USD 42 billion.
- Among others in the South Asian region, FDI flows to Bangladesh and Sri Lanka rose to a record level, to USD 3.6 billion and USD 1.6 billion, respectively, while Pakistan witnessed a 27% decline in investment to USD 2.4 billion.
NATIONAL
- India can boost exports of 350 products to US, China amid trade war: Study
- Commerce Ministry of India made a study the trade war between the US and China offers an opportunity to India for boosting exports of as many 350 products such as chemicals and granite to these countries.
- The ongoing trade war between the US and China an opportunity to India for 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z"/> Subscribe on YouTube