Daily News - Tuesday, 10 December 2024
Sanjay Malhotra set to be RBI’s 26th governor (Financial Chronicle)
The government has appointed Revenue Secretary Sanjay Malhotra as the 26th Governor of the Reserve Bank of India (RBI) for a three-year term, replacing Shaktikanta Das, whose tenure ends on December 10, 2024. Malhotra, a 1990-batch Rajasthan cadre IAS officer with a background in computer science from IIT Kanpur and a Master’s in Public Policy from Princeton, brings over 33 years of experience across sectors like power, finance, taxation, and IT. His leadership in tax policy formulation and prior roles, including Secretary of Financial Services, make him a pivotal figure for steering RBI policies in the coming years.
Rajasthan investor summit draws ₹35 lakh-cr pledges (Financial Express)
At the Rising Rajasthan summit inaugurated by Prime Minister Narendra Modi, leading Indian conglomerates pledged over ₹35 lakh crore in investments, with the Adani Group committing ₹7.5 lakh crore, primarily towards building the world’s largest green energy ecosystem, including 100 GW of renewable energy and 2 million tonnes of hydrogen. The Aditya Birla Group announced ₹50,000 crore in investments, focusing on renewable energy, cement production, telecom, retail, and jewellery manufacturing, while the Mahindra Group plans to invest ₹11,000 crore in expanding renewable energy and hospitality projects in the state. Other key contributors include Vedanta Group (₹1 lakh crore), Avaada Group (₹1 lakh crore), and Tata Power (₹1.2 lakh crore), collectively driving Rajasthan’s transformation into a renewable energy hub and creating millions of green jobs.
Move to create income, boost ‘insurance for all’ goal: Modi (Financial Express)
Prime Minister Narendra Modi launched LIC’s Bima Sakhi Yojana in Panipat, aimed at engaging 200,000 women as insurance agents over three years, offering potential monthly earnings of ₹15,000 and strengthening the “insurance for all” mission. He highlighted the success of government schemes like Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), which have processed claims worth ₹20,000 crore. Finance Minister Nirmala Sitharaman emphasized that the program empowers women aged 18-70, requiring a minimum education of 10th grade, and provides an opportunity for long-term careers in LIC.
Centre Approves 2 GW Solar Park for State (The Economic Times)
The Centre has approved a 2,000-MW solar energy park in Rajasthan with 30% central financial assistance, complementing the state’s Integrated Clean Energy Policy 2024, which targets 125 GW of renewable capacity by 2030 and aligns with India’s 500 GW renewable energy goal. Union Coal and Mines Minister G. Kishan Reddy emphasized the importance of mine closures, urging private sector participation in repurposing vacant mines for agriculture and acquiring overseas critical mineral assets. Highlighting Rajasthan’s mineral prowess, Reddy noted the state produces 52 of 82 commercial minerals, including critical resources like zinc and silver, reinforcing its role in India’s mineral security.
Rajasthan Eyes AI Township Along Delhi-Mumbai Expressway: Goyal (The Economic Times)
Union Commerce Minister Piyush Goyal suggested that Rajasthan establish a township for data centres and an AI city along the Delhi-Mumbai expressway, leveraging the state’s land availability and renewable energy capacity to attract global investments. He emphasized the potential for international fibre-optic connectivity and green energy integration, creating opportunities for professionals and university graduates. Rajasthan Industries Minister Rajyavardhan Rathore highlighted the state’s commitment to enabling MSMEs to adopt advanced technologies like AI, robotics, and cloud computing for smart manufacturing, while Rural Development Secretary Ashutosh Pednekar underscored the necessity of digital transformation for manufacturers to stay competitive.
