Indian Economy

[Nutcracker]

Sir, I am not against government launching such schemes but just curious to know the logic and motto behind these scheme so as I can counter someone who question these on fact basis , and asked you because I was amazed by your in depth answers in DFI.
And sorry to bother you but one more question can you please explain that isn't the account opening and UPI is just because GOI is paying the charges to respective companies if we bear the cost ourself the transaction will reduce so all these have ultimately these have increased spending of government and of they don't give the money free accounts,upi transactions etc. will stop.
Can it be compared to government paying to power companies for free electricity to public. Ofcourse the cost in free electricity is much more and very less productive too but just asking. Answers from others are also welcome

Imagine the cost of printing least cost effective notes ie. small denominations notes if UPI Wasn't there.

Data from the RBI’s annual report indicates that the overall indent and supply figures for banknotes grew marginally from 2225 Crore in 2021-22 to 2430 Crore in 2023-24. In terms of denomination, the indent of Rs. 500 denomination fell from 1280 Crore to 900 Crore during the same period. The expenditure on printing currency reached a two-decadal high (barring the demonetization year) of ₹5,101 Crore in 2023-24.

V/s UPI server expenditure of 1000 crore per annum in last 4 years.

Data: Currency Printing Expenditure Crossed ₹ 5000 Crores in 2023-24; Highest Ever Barring the Demonetization Year - FACTLY

The expenditure on printing currency reached a two-decadal high (barring the demonetization year) of ₹5,101 Crore in 2023-24.

factly.in

 

[dr.defence]

https://www.livemint.com/money/personal-finance/should-upi-transactions-incur-fees-amazon-pay-ceos-statement-fuels-discussion-upi-payments/amp-11720770135260.html

Because of this ezsasa sir

Will your UPI credit line payments become costly as NPCI introduces merchant charges?

NPCI charges for credit line on UPI: The NPCI has released a circular to the banks regarding how charges will be levied on the pre-sanctioned credit line on UPI offered by banks. The charges specified in the circular will be effective from October 16, 2024. How the new charges on UPI credit line...

m.economictimes.com

And this too

 

[dr.defence]

India Economy And Strategy - Bank Deposit Quagmire And Its Consequences: Systematix

While the current de-rating may seem appealing & cause sporadic spurts, the brokerage believes the banking sector is still at the advent of a normalization process amid underlying macro imbalances.

www.ndtvprofit.com

 

[dr.defence]

https://www.business-standard.com/industry/news/private-sector-in-driver-s-seat-of-indian-economy-steering-nation-rajnath-124092300591_1.html

 

[dr.defence]

Real Estate To Play Major Role In India's Economic Growth Trajectory, Report Reveals

The interplay between real estate and India’s economic growth journey over the next few decades is explored in the latest report “Indian Real estate: The Quantum Leap” by Colliers in collaboration with the Confederation of Real Estate Developers' Associations of India (CREDAI) released recently.

www.freepressjournal.in

 

[abdus salem killed]

Dr. P. K. Mishra, Principal Secretary to the Prime Minister chairs High Level Task Force meeting on air pollution in Delhi-NCR

Dr. P. K. Mishra, Principal Secretary to the Prime Minister, chaired a High-Level Task Force meeting

pib.gov.in

Finally after so long stubble buring is ending

 

[Blademaster]

Dr. P. K. Mishra, Principal Secretary to the Prime Minister chairs High Level Task Force meeting on air pollution in Delhi-NCR

Dr. P. K. Mishra, Principal Secretary to the Prime Minister, chaired a High-Level Task Force meeting

pib.gov.in

Finally after so long stubble buring is ending

One down and more to go. The next step is to control all brick kilns belching out black smoke and crap and make them use environmental friendly fuel sources.

 

[jaijaganath]

https://www.moneycontrol.com/news/business/companies/jsw-to-move-rs-40000-cr-ev-battery-project-from-odisha-to-maharashtra-report-12828239.html

Nothing just a good double engine sarkar doing its job

 

[Nutcracker]

https://www.moneycontrol.com/news/business/companies/jsw-to-move-rs-40000-cr-ev-battery-project-from-odisha-to-maharashtra-report-12828239.html

Nothing just a good double engine sarkar doing its job

For EV batteries, the relevant minerals rich Odisha is the best location to build the plant. I don't see much reasons to shift.

Moneycontrol could not verify the report independently.

 

[Anants]

For EV batteries, the relevant minerals rich Odisha is the best location to build the plant. I don't see much reasons to shift.

Moneycontrol could not verify the report independently.

Same news in August too:

OB Exclusive: Is JSW Group Shifting Its Electric Vehicle & Battery Project From Odisha To Maharashtra? - odishabytes

Bhubaneswar: Barely six months after signing an MoU with the Odisha government for setting up an Integrated Electric Vehicles (EV) And EV Battery Manufacturing Project at Cuttack and Paradip, the Sajjan Jindal-led JSW Group could be planning to shift it to Maharashtra. While the Odisha project...

odishabytes.com

 

[Nutcracker]

Same news in August too:

OB Exclusive: Is JSW Group Shifting Its Electric Vehicle & Battery Project From Odisha To Maharashtra? - odishabytes

Bhubaneswar: Barely six months after signing an MoU with the Odisha government for setting up an Integrated Electric Vehicles (EV) And EV Battery Manufacturing Project at Cuttack and Paradip, the Sajjan Jindal-led JSW Group could be planning to shift it to Maharashtra. While the Odisha project...

odishabytes.com

Might've been peddled by JSW scums themselves to extract some concessions and freebies by cornering the newly formed Odisha govt.

 

[Anants]

Might've been peddled by JSW scums themselves to extract some concessions and freebies by cornering the newly formed Odisha govt.

exactly

 

[Illusive]

i suppose you are referring to MDR costs for UPI transactions, that's about 1000 crores per annum gormint is paying on behalf of citizens using UPI.
is it back in discussion, why?

UPI remains popular, but not enough to get 'paid'

Read more at:
http://timesofindia.indiatimes.com/...ofinterest&utm_medium=text&utm_campaign=cppst

 

[Anants]

UPI remains popular, but not enough to get 'paid'

Read more at:
http://timesofindia.indiatimes.com/...ofinterest&utm_medium=text&utm_campaign=cppst

If govt is to increase usage of UPI - they just need to increase limit set on UPI on per transaction. Make transaction in Lakhs if need be.Watch More transactions happening in UPI. Govt must right now concentrate on making economy cashless as much as possible. Once you have big chunk of economy cashless - you can levy judicious charges on large transactions. Levy transaction lesser or none than NEFT, RETGS or VISA for higher payments.

 

[Anants]

Remember suspicious fire in SCL in 90s burned down wxpensive equipment setting back India by many decades? Bengal is on tenterhooks right now. I wish punjab and bengal get priorities sorted so they dont miss the growth story of India.

Coincidently a timely article on two states:

https://swarajyamag.com/economy/what-this-paper-from-the-advisory-council-to-pm-reveals-about-the-relative-economic-performance-of-indian-states