India Headlines: Energy Storage|Emerging India| Startup Mahakumbh|Gross Direct Tax| IPL
India Latest Headlines:
Stay informed with India’s latest headlines. Here we bring to you what transpired that has significance to the nation and its people. Read on to update yourself.
India’s Inaugural Battery Energy Storage Gigafactory
GoodEnough Energy announced plans to commence operations at India’s inaugural battery energy storage gigafactory in Jammu and Kashmir by October. The facility, with an initial capacity of 7 gigawatts per hour (GWH), aims to trim over 5 million tons of carbon emissions annually, aligning with India’s 2070 net zero target. Investing 1.5 billion rupees initially, GoodEnough intends to expand capacity to 20 GWH by 2027, with an additional 3 billion rupees earmarked for this endeavour. India’s push for renewable energy, targeting 500 GW by 2030, is bolstered by the government’s $452 million incentive program, encouraging battery storage projects critical for energy harnessing from renewables.
G20 Sherpa Amitabh Kant Emphasized India’s Significant Strides
During a private news network’s Leadership Conclave on March 20, G20 Sherpa Amitabh Kant emphasized India’s significant strides in ‘Emerging India, Made in India, and Make in India’. Asserting India’s rising prominence, Kant highlighted its pivotal role in global forums, stating India’s ability to unite emerging markets, G7, and Russia-China. Under India’s leadership, consensus on various issues has been achieved, marking a significant victory. Kant underscored India’s top position in digitization, infrastructure, and growth, contributing 20% to global growth. He urged seizing the present opportunity, emphasizing India’s time for aspiration and energy. This narrative aligns with India’s dynamic role in shaping the global landscape.
Prime Minister Narendra Modi Addressed The Startup Mahakumbh
Prime Minister Narendra Modi addressed the Startup Mahakumbh event on March 20, focusing on government initiatives to boost deep tech, agritech, biotech, medtech, and AI sectors. Held from March 18-20 at Bharat Mandapam, New Delhi, the event was organized by Bootstrap Incubation & Advisory Foundation and IVCA, supported by DPIIT. Commerce Minister Piyush Goyal highlighted the transformative role of Indian startups, aiming to align an aspirational India with the startup ecosystem for economic growth, leading to India’s 100 years of Independence by 2047. The event drew over 2,000 startups, 1,000 investors, 100 unicorns, 300 incubators, 3,000 delegates, and 50,000 business visitors nationwide, per the commerce ministry.
Annualized Increase In Gross Direct Tax Collections By 19%The Finance Ministry reported a 19% annualized increase in gross direct tax collections to ₹22.27 lakh crore in 2023-24 (up to March 17), with net revenue rising nearly 20% to ₹18.90 lakh crore after issuing refunds totalling ₹3.37 lakh crore. This amounts to 97.17% of the revised estimates (RE) for FY 2023-24. Finance Minister Nirmala Sitharaman raised the net direct tax target to ₹19.45 lakh crore for FY24, reflecting confidence in robust tax collections. The ministry credited efficient online tax administration for significant growth in refunds. Advance tax collections for 2023-24 were ₹9.11 lakh crore, showing a growth of 22.31% over the previous fiscal year.
The BCCI To Introduce A New Smart Replay System
The BCCI is set to introduce a new Smart Replay System utilizing eight high-speed cameras from Hawk-Eye positioned around the ground in the upcoming Indian Premier League (IPL). Two operators will provide real-time images directly to the TV umpire, bypassing the need for a broadcast director. This enhancement enables comprehensive analysis, including crucial moments like outfield catches with simultaneous footage of players’ feet and hands. Umpires will benefit from enhanced clarity and multiple angles for assessing various scenarios, such as run-outs and low catches. The initiative aligns with modernizing cricket officiating, with similar systems tested in other tournaments, promising fairer judgments and more efficient decision-making processes.
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