Tag: News

Comprehensive, up-to-date news coverage, aggregated from sources all over the world by EduindexNews.

'Divya Kala Shakti: Witnessing Abilities in Disabilities'

 Minister of Social Justice & Empowerment, Dr. Virendra Kumar inaugurated the ‘Divya Kala Shakti’ Programme at Rang Bhawan Auditorium, Akashwani Bhawan, Delhi, today on 10th Dec 2022.Various Non-Govt organizations working in disability sectors and  stake holders of the Department witnessed the extraordinary performances by the Divyang children and youth at the cultural event ‘Divya Kala Shakti- Witnessing Ability in Disability’ organized by the Department of Empowerment of Persons with Disabilities (Divyangjan), Ministry of Social Justice and Empowerment in collaboration with PDUNIPPD , a National Institution uder the Administrative head of the Department.

After two national events held on 18th April 2019 & 23rd July 2019 at President House & Balayogi Auditorium  of India Department is taking Divya kala Shakti to regional levels with the direction of former President Sh. Ram Nath Kovind. Accordingly three regional “Divya kala Shakti” programmes have already been held at various places i.e, Western Region, North Eastern and Southern Region in Mumbai, Arunachal and Chennai. This time the first ever Northern regional Divya kala Shakti  held in Delhi where approximately 100 Ar111qqQqqqqtistes have been drawn from different states, cultural societies, institutions, civil societies from Northern regions to make it a truly Northern regional spirit. Department arranged for their rehearsals and practice session with the choreographer and the discipline and precision of timing and performance among such children is the greatest example of their intellectual, creative and their latent ability that needs to be harnessed for their optimal self-actualization. The event was witnessed by about 300 dignitaries representing Senior Government officials, Creative personalities, Educators, Principals, various disability advocacy groups etc.

The performances were presented by children and youth with disabilities ranging from physical, visual, hearing, intellectual, Autism to multiple disabilities and dwarfism. They are capable of excelling in any field, be it art, culture, sports, or anything. The children with disabilities and the audience will always remember the inspiring words said by PM  “Divyang are gifted human beings we are working steadfastly towards ensuring an inclusive, accessible and equitable future for our Divyang sisters and brothers. Their fortitude and accomplishments in various fields inspire all of us” .

President of India, also rightly said Divyangjan required no sympathy what is required is empathy and an enabling, barrier free environment.

The programme was packed with several state specific performances that made the evening vibrant. Durga Dance by a cancer survivor and locomotor disable Anita Gupta from East was really an awakening. Really lots of mind-blowing performances by these Divyangjan can inspire one and all.

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India won't be a US ally rather a great power : WH official.

Washington: India, which has a unique strategic character, will not be an ally of the US, but another great power, a top White House official has said, asserting there is no other bilateral relationship that is being “deepened and strengthened” more rapidly than between the two countries over the last 20 years.

Responding to a question on India during his appearance at the Aspen Security Forum meeting here on Thursday, Kurt Campbell, the White House Asia Coordinator, said that in his view India is the most important bilateral relationship for the United States in the 21st century.

“The fact is, I don’t know of any bilateral relationship that is being deepened and strengthened more rapidly than the United States and India over the last 20 years,” he told a Washington audience.

The United States needs to invest even more of its capacity, and build in people-to-people ties, working together on technology and other issues, he said.

“India has a unique strategic character. It will not be an ally of the United States. It has the desire to be an independent, powerful state and it will be another great power. But I think there are reasons to believe that our strategic alignment is growing across the board in almost every arena,” Campbell said.

How roll out of 5g services will help Indian economy?

The transition to 5G will unlock new use cases and revenue streams through innovative business models. It will bolster the startup ecosystem and enable India to be an R&D hub for 5G technology and use cases. Developing 5G applications is likely to have a huge impact across industries.

In India, the engineering/advanced manufacturing segment offers the largest 5G/IoT opportunity. Multiple use cases exist in this segment with benefits of increased efficiency, productivity, better safety standards, and highly efficient production. In healthcare, 5G’s benefits can immediately be realized in home-based care and connected hospital devices as 5G facilitates real-time data transfer.

The Indian M&E sector is transitioning from passive consumption to participative consumption fueled by the popularity of immersive technologies such as AR and VR, networked gaming, and interactive game shows. 5G may help accelerate this trend and completely transform the consumer experience.

Further, the advent of 5G may significantly enhance connected car features and usher in the age of autonomous vehicles (AV) in India.

The present situation of Bitcoin in the UK and US

 There is no doubt that Bitcoin has turned out to be one of the most efficient, trustworthy, and popular cryptocurrencies on the planet right now. It does not have any physical existence as it is a digital currency. Nevertheless, one will be guaranteed online safety, accountability, and transparency while making use of Bitcoin as a mode of payment. It is because bitcoin used some latest technologies to make its network more secure and the most vital is Blockchain technology that offers bitcoin cryptocurrency a decentralized network where no data could be altered or deleted. Bitcoin has already attracted many entrepreneurs, global investors, beginners, as well as financial experts.

Photo by Alesia Kozik on Pexels.com

Bitcoin is a significant digital currency:

It is a fact that Bitcoin investment will allow you to manage the highest target since the prices are changing constantly on the market these days. The inventor of this cryptocurrency introduced blockchain systems into Bitcoin to gain the trust of the audience, attaining some safety factors, as well as maintaining transparency, efficiency, and consistency. 

Though, the question might arise in our minds regarding who will be responsible in the event of something unusual happening because of governmental factors.

It is also important to get rid of the bugs and viruses that might affect online platforms right now. This is because many of these platforms consist of bugs, viruses, and intermediaries these days. Fixing these glitches will result in the seamless functioning of the online platforms without any problem whatsoever.

Investing in Bitcoin in the UK:

. In case you are residing in the UK, then the simplest way to invest in this cryptocurrency will be to buy it from a crypto exchange like Coinbase, eToro, or Uphold online.

It is possible to purchase and sell Bitcoin from your computer, smartphone, or tablet directly with the help of crypto exchanges. After purchasing this cryptocurrency, you may do any of these two things mentioned below:

  • Your Bitcoin can be moved to a secure wallet that is owned by a crypto exchange used by you or it can be separate as well. 
  • Otherwise, it will be a sensible idea to leave the currency in the crypto exchange where Bitcoin can be exchanged for other digital currencies or fiat currencies.

Purchasing Bitcoin in the US:

It will not be difficult to purchase Bitcoin or any other cryptocurrency in the US. It is as simple as selecting a wallet and picking an exchange to purchase from. However, you need to verify your identity through a somewhat complicated KYC process. After providing your details, you need to verify your identity by providing a passport copy or a government-issued ID copy. It will be simple to purchase and sell Bitcoin once your identity has been verified by the exchange.

However, if you like to trade in Bitcoin globally, then make sure to use a powerful tool known as BitTrader. You will get more information regarding this tool from bit-trader.io

Is Bitcoin legal in the US?

There is no doubt that the US is one of those countries on the planet that have embraced the usage of Bitcoin. This particular cryptocurrency has been described by the U.S. –  Treasury as a convertible currency that can be used by individuals instead of the US dollar. 

‘The United States Financial Crimes Enforcement Network’ is providing guidelines regarding Bitcoin since 2013. As per their work is going on this crypto-

  • All entities administering or exchanging this cryptocurrency as money service businesses have been classified by them. 
  • Besides this, this organization is likewise implementing regulations intended for financial and non-financial institutions for establishing crypto tracking and reporting priorities. 
  • According to these regulations, financial institutions, crypto exchanges, and other institutions need to report any distrustful activity for immediate investigation regarding transactions.

Bitcoin asset regulations in the UK:

When it comes to the UK, it is a fact that no single document outlining the comprehensive regulatory specifications of Bitcoin exists at present. The primary target of UK regulators will be to stay away from all types of online scams related to cryptocurrencies while enticing new customers. 

Final thoughts:

According to the latest news, the trading of Bitcoin has been legalized fully in the UK and the United Kingdom along with several other countries. Many individuals are investing in Bitcoin at present and they have also been able to generate lots of money from this as well. 

Bitcoin is becoming quite popular – Why?

 Bitcoin was the first digital currency that was invented in the year 2009, and it become quite popular across the globe over the years. However, its value is never stable as of now, and right from the beginning, it is continuously fluctuating. Therefore bitcoin, as a cryptocurrency is known as a highly volatile asset amongst all. For more detail about Bitcoin Application

These days, Bitcoin is used by many individuals and companies as a method of payment instead of conventional currencies. No one can deny that this particular cryptocurrency has made trading quite simple and lots of customers are accepting it in their businesses. Let us move forward and see the reasons behind the popularity of Bitcoin right now.

  1. Low fees for transactions:

Bitcoin attracts minimal costs, unlike conventional methods of payment. In fact, low transaction fees are one primary reason that attracts more people toward it. It makes sense for most individuals, particularly while making online payments for services or purchasing items online. Many people are using Bitcoin for sending money, particularly across borders.

  • Suitable asset to make a profit:

One more reason behind the popularity of Bitcoin is the fact that there is a huge potential for making a profit. In case you purchase Bitcoin when the price is low and sell it once the price becomes high, you will be able to make lots of profit in the long run. During the last several years, almost all the investors are doing short-term bitcoin trading and earning little but multiple profits by using the same strategy.

  • It is becoming simpler to use Bitcoin:

People are becoming more aware of Bitcoin which has helped it to become more popular these days. Lots of websites are accepting cryptocurrencies such as Bitcoin as payment which will become more widespread in the upcoming days. It can be rightly asserted that the usage of Bitcoin is becoming simpler every day since an increasing number of online companies are adopting it. Here, we like to mention that the usage of cryptocurrency debit cards has also started in some particular locations.

For instance, at present, the e-Yuan currency has been introduced in China and if you like to trade this particular currency, then it will be advisable to make use of the Yuan Pay App. Visit yuanpaygroup.nl for getting more information on this particular topic.

  • Less possibility of fraud:

Bitcoin is 100% digital, and therefore, many individuals are investing in this digital currency right now. Moreover, Bitcoin does not exist physically and it offers a decentralized platform where no central authority is there to regulate the transactions. Consequently, there is virtually no risk of fraud when it comes to the usage of Bitcoin.

  • Security:

The usage of Bitcoin happens to be safer compared to fiat money which can be stolen by getting hold of your physical wallet. But, bitcoin is safer as you use your private key for safeguarding your digital wallet. No person can get hold of your Bitcoin without this digital wallet key. Moreover, you will only share the address of your digital wallet while paying with Bitcoin, and there is no need to reveal any personal info. Bitcoin will allow you to safeguard your money and identity which matters a lot for most individuals out there.

  • Bitcoin is seen as the currency of the future:

According to many people, government-regulated currencies will be replaced by cryptocurrencies in the future. Bitcoin is loved by lots of individuals because of its innovativeness. Apart from this, this particular cryptocurrency also makes use of blockchain technology that has the power of transforming lots of social and economic sectors. Bitcoin is used by many people as a means of acclimatizing to technological innovation which has made it quite popular over time.

  • The simplicity of acquiring Bitcoin:

In the past, individuals were in the habit of mining Bitcoin for obtaining it. However, this process is somewhat complicated that requires one to solve math or computer problems are need high energy and highly proficient hardware. However, now it is not difficult to get Bitcoin anymore. You simply require a well-known crypto exchange for purchasing or trading this cryptocurrency.

Conclusion:

More and more traders are accepting Bitcoin these days as a convenient method of payment. Therefore, it can be rightly asserted that the popularity of this digital currency will go on increasing shortly. Moreover, Bitcoin is likely to allow individuals to preserve value, particularly when there is an economic crisis.

Factors influencing the rise of Bitcoin’s market price

 Bitcoin, the cryptocurrency that was created in 2009 gained its reputation in the year 2020 as it marked an alleged rise in value before the start of the pandemic. Bitcoin was at its lowest limit during the Covid period raking in $4,000 in value and reaching a stupendous amount of $30,000 at the end of the fiscal year. Within a few days, the value reached a peak of $40,000 and in 2021 it skyrocketed to over $65,000 for Bitcoin investors to sell them as assets and earned even billions and millions. Thus, it is essential to check the different factors involved before buying a cryptocurrency for trading purposes. Learn More

Over 18,000 different cryptocurrencies are in the existence among them Bitcoin stands tall. With the increase in the value of Bitcoins, other cryptocurrencies are also increasing in value over the longer term. However, there are several reasons why bitcoin shows such volatility and those reasons have marked the growth in the rates of Bitcoin cryptocurrency. A few of the essential factors are demonstrated below.

Factors influencing the rise of rates and values of Bitcoin cryptocurrency:

According to News reports, Bitcoin has staggered its way up from $0 in 2016 and now in 2022, it is around $20,600 as of November. Many factors are responsible for the increase in the values and rates of Bitcoin cryptocurrency. 

  1. Increase in Bitcoin investors:

The major reason for an increase in Bitcoin value and rates is because of the high increase in Bitcoin investors. Many organizations and service providers have staked in hefty amounts for buying Bitcoins for trading purposes. According to news sources-

  • companies like J.P. Morgan have invested quite heavily in cryptocurrencies. 
  • Companies like PayPal have introduced services for purchasing, selling, and trading purposes using Bitcoins. 
  • Visa has also been favorable to Bitcoins by introducing debit and credit cards for the trading platform Coinbase.
  • Many other mammoth organizations are accepting bitcoins as a payment method and also utilizing services for trading purposes. 

With the increase in investors, the Bitcoin applications such as bitcoin-prime.nl have become quite easy to login into accounts and trade over different cryptocurrencies. Digital wallets and private keys need to be kept safe from any unwanted intrusion into the Bitcoin account.

  • Inflation due to the Covid-19 pandemic:

Another increase in the value of Bitcoins is due to Covid 19 pandemic issues. This has evolved into banks printing more money and the government imposing extensive packages by driving up inflation. In the last financial year, the government of the United States deducted a 2% rise in the initial economic showdown. 

Therefore, keeping Bitcoins seems to be wiser for people. Possessing Bitcoins shortly can help investors in getting increased rates over the same. According to News agencies, the utilization of Bitcoin would go up in several folds and individuals would stick to Bitcoins for transactional purposes. Bitcoin is kept at a margin of 21 million units whereas around 18 million units of Bitcoins are been utilized to date by individuals.

  • Safe and secure cryptocurrency with strong policies:

Another important aspect of the rising values and rates of Bitcoins is that they are safe and secured cryptocurrencies utilized by many financial companies worldwide. The policy is also updated over stringent approvals where individuals have fewer chances of losing assets.

  • Some companies like Tesla and Expedia utilize Bitcoins for buying cars and booking hotels and flights. 
  • Companies like PayPal, Microsoft, and Shopify utilize Bitcoins for shopping purposes and individuals can purchase software, add-ons, mods, and even products to buy from such portals. 
  • Easily available cryptos for trading:

Another important aspect of the growing utilization of Bitcoins is that it is available to the general public easily. Bitcoins are quite volatile and prices may increase or decrease depending on the utilization of the cryptocurrency for trading purposes. Bitcoins have a really good store value and individuals can convert their cash to the bitcoin value and store it for prospects. Some even tend to buy assets utilizing bitcoins and store them for reselling purposes soon.

Bottom-line:

Thus, the above-mentioned points prove that saving Bitcoins can help with numerous advantages over the period. It is also essential to check with the different trading platforms for utilizing it in buying Bitcoins. Some trading platforms provide utilization of a decentralized process for storing bitcoins using a secure blockchain methodology. It is also advisable to check the different policies involved before buying Bitcoins for personal purposes.

The fundamentals of Bitcoin trading that you need to know

 Trading actually means transferring things in exchange for something. However, bitcoin trading is the same but the practice is more centered on the profit gained out of a trade. The process of purchasing bitcoin at a low price and selling it at a higher price for making a profit is known as Bitcoin trading. A trader will purchase this cryptocurrency when he’s off the notion that its price will go up and he can sell it afterward at a higher price. For more detail please visit our website.

In the same manner, it is also possible for traders to take advantage of the plummeting prices of Bitcoin. He might short-sell Bitcoin at a higher price when he thinks that its price will drop in a while and the position can be covered at a lower price.

Photo by Karolina Grabowska on Pexels.com

Why bitcoin trading is a good idea?

It will be extremely profitable to trade Bitcoin in case you can get the basics correct and also comprehend how to minimalize the risk of this volatile market. Incidentally, Bitcoin is considered to be the most renowned cryptocurrency on the market right now.

Here, we have enumerated the various benefits of trading Bitcoin preferably with the help of the Bitcoin Era app. If you want to know more about this app, then make sure to visit https://bitcoins-era.nl/.

  1. Opportunities for trading:

There has been a rise in the different trading opportunities over time since the price of Bitcoin fluctuates heavily at times. You will come across a Bitcoin trading setup virtually all the time. It is a fact that the price of this cryptocurrency can go up or fall significantly within only several minutes these days.

  • Mass adoption:

One can’t deny that the concept of cryptocurrency is rather new in the financial world. Nevertheless, Bitcoin has been accepted already by lots of large businesses as well as several renowned banks out there and other companies are likewise planning to do it.

  • Margin trading:

It is possible to trade Bitcoin with a margin account on leverage similar to any other digital currency. This will enable you to open a bigger position size compared to your trading account and it will allocate just a small percentage of your account for the trade as collateral.

Steps for trading Bitcoin:

  1. Create a brokerage account:

The initial step that should be taken by you will be to create a brokerage account. The registration process comes first here that needs some of your IDs to be verified and once it is done a bitcoin trading account will be opened.

  • Funding

After opening up the brokerage account, transferring some funds to it is necessary. Therefore, it will be imperative to link your bank account for getting the funds and the withdrawals promptly. 

  • Select the currency:

After completing the previous steps, you need to select the currency type that you will deal with. All these steps will be essential for every type of cryptocurrency out there including Bitcoin.

  • Automated trading:

An automated trading platform will be the most effective option for you when you want to formulate a solid strategy for Bitcoin trading. One notable thing regarding automated trading platforms is that they will provide you with conservative, aggressive, or neutral mechanisms that you can use to generate quick money, diversify your portfolio, plus hold the coins.

  • Store the currency:

It is a fact that Bitcoin happens to be a digital currency, unlike money that exists physically. Consequently, it is important to store Bitcoin properly since it does not have any physical existence and online fraud can be another reason as well. Therefore, use bitcoin wallets that safeguard your crypto holdings by keeping your private and public keys safe. Try to use cold storage wallets that are more secure.

Conclusion:

The procedure of starting a trade, monitoring it, and closing it happens to be quite simple. Brokers are nowadays making a lot of investments in order to earn. However, the toughest part happens to be fine-tuning your decisions regarding trading so that you will be able to make a profit. But newbies who stick to the standard advice of Bitcoin trading in small sizes will provide themselves with the most effective option of becoming successful in the long run.

Top companies with the maximum Bitcoin holdings this year

 Investing in Bitcoin has become quite well-known in many parts of the world right now. Every investor dreams of investing at least a small portion of their savings in this popular cryptocurrency individually. However, you will come across many companies that have invested significantly in Bitcoin these days. Bitcoin is largely being welcomed by them globally. Here, we will take a look at the companies with the maximum Bitcoin holdings this year. For more detail about Bitcoin the create an account and open account.

Photo by David McBee on Pexels.com
  1. MicroStrategy:

According to many individuals, this particular company happens to be the leading public company that has invested in Bitcoin. This company was one of the first ones to enter the Bitcoin market and it has already made a significant profit from its investment in Bitcoin. Michael Saylor, the CEO, supports the usage of Bitcoin and other cryptocurrencies since he’s of the notion that Bitcoin is vital for diversification. 

MicroStrategy has the distinction of holding as many as 114,041 bitcoin which happens to be the biggest holding of any public company at present. They have also invested a total amount of $3.1 billion whose worth is now $5.4 billion. It represents approximately 0.54% of the entire supply of Bitcoin.

  • Coinbase:

Coinbase happens to be the first crypto company that has gone public and other crypto companies have also followed it when it comes to going public. The public listing of this company had been a significant highlight of the crypto market last year. Right now, this particular exchange holds approximately 4,500 Bitcoin only which is smaller compared to most of the other companies mentioned on this list. However, it is nonetheless quite significant. Although the price of this purchase is not certain, the present value happens to be $214 million.

  • Voyager Digital LTD:

Voyager Digital LTD, a well-known crypto brokerage, holds approximately 12,260 Bitcoin whose worth is approximately $267 million at present prices. This company intends to offer a one-stop outlet for trading Bitcoin and other cryptocurrencies. Quarterly revenue of approximately $60 million was reported in the month of May last year. 

This company turned out to be amongst the most notable casualties of the crypto crash that took place in the year 2022. Nevertheless, it revealed an exposure of approximately $660 million in Bitcoin because of the existing market conditions to Three Arrows Capital, a struggling crypto investment company. Subsequently, Voyager Digital ended up filing for bankruptcy.

  • Square:

We are all aware of this payments company known as Square that has made significant investments in Bitcoin. Having about 8,000 Bitcoin in its coffers, this company holds Bitcoin whose worth is approximately $382 million right now. Incidentally, it was purchased by Square at only $220 million.

According to some experts, this company is perhaps the largest supporter of Bitcoin since it wants to make this cryptocurrency an integral part of its business. The Cash app of Square happens to be a convenient way to purchase Bitcoin right now.

5. Tesla

Although the aforementioned Microstrategy is considered to be the premier public company investing in Bitcoin, Tesla is perhaps the most well-known. Tesla came into the limelight when it announced that it will purchase Bitcoin in the long run. This particular decision made by this company took the world by surprise and a lot of attention was given to cryptocurrency.

This company has Bitcoin holdings of approximately 44,000 which happen to be $1.5 billion in purchase costs. This has turned out to be the second most lucrative Bitcoin investment done by a public company. 10% of its cryptocurrency holdings were sold by Tesla in 2021.

Galaxy Digital Holdings

This one is a merchant bank that emphasizes the usage of cryptocurrency and happens to be the biggest institutional Bitcoin holder that is involved with the cryptocurrency industry directly. Right now, Galaxy Digital can boast of holding 16,400 Bitcoin which is worth more than $357 million at present prices.

Galaxy Digital has partnered with Block.one and other crypto firms and it was established by Michael Novogratz in the year 2018. It is not surprising that Novogratz happens to be a patron of Bitcoin as well.

Conclusion:

It appears that companies can make use of cryptocurrency for diversifying their portfolio. However, one cannot deny that the number of companies investing in Bitcoin and other digital currencies is quite impressive in the long run. It can be rightly expected that more companies will be investing in this cryptocurrency in the upcoming days. For this context, you can also buy the currency and trade Bitcoin in a convenient manner using BitQT, an app that has become quite famous across the globe at present.

India to test Agni-V missile.

India recently issued a NOTAM notice declaring the Bay of Bengal a no-fly zone ahead of another Agni-V ballistic missile test scheduled for December 15-16 from Abdul Kalam Island off the coast of Odisha.

The development comes amid the reported movement of a Chinese research vessel in the Indian Ocean Region (IOR). According to data collected by the Norwegian company Maritime Optima, as reported by ThePrint, Yuan Wang 5 re-entered the Indian Ocean region. The report stated that the Yuan Wang 5 was currently southbound in the Indian Ocean off the coast of the Indonesian island of Java.

Agni V is India’s long-range surface-to-surface ballistic missile, capable of hitting a target 5,000 kilometres away with pinpoint accuracy. This range puts almost the entire country of China within the missile’s range. Though an ICBM requires a missile with a range of at least 5,500 km, India’s closest contender for an ICBM is the Agni 5, which can reach countries on other continents, including parts of Africa and Europe.

Though the government claims that it has a maximum range of around 5,000 kilometres, several reports indicate that it can hit targets as far away as 8,000 kilometres, according to the report. The nuclear-capable missile can carry a warhead weighing around 1,500 kg and has a launch weight of 50,000 kg, making it one of the country’s most powerful missiles.

India assumes G-20 presidency.

Indonesian President Joko Widodo officially handed over the G20 presidency to India on November 16 this year at the summit in Bali. The year-long presidency assumed by India comes at a time when the world is struck with uncertainties about recovery from a pandemic-hit economy.                                  Prime Minister Narendra Modi, in a series of tweets, highlighted the country’s commitment towards resolving challenges of “climate change, terrorism and pandemic” through international cooperation.

The main objectives of G20, according to the Council on Foreign Relations (CFR), includes policy discussion and coordination on economic and financial issues around the globe. However, over the years, the meeting has extended its aims to cover global terrorism, health and sustainable development.

The leadership of G20 rotates annually among nations, where the President nation determines the agenda of the summit held every year. Non-members, namely, the International Monetary Fund (IMF), the World Bank, the United Nations (UN), World Trade Organization (WTO), among others participate regularly in the G20 proceedings.

Top 5 fastest growing states by GSDP.

After witnessing unprecedented challenges due to the covid-19 pandemic, India’s states are well on their way to recovery, according to the Reserve Bank of India’s Handbook of Statistics on Indian States released last week. Almost every state economy has already surpassed its pre-pandemic size and state finances are looking up even as concerns over elevated fiscal deficit remain. Rural wage growth, however, has failed to keep pace with average retail inflation, which may become a cause of decline in spending. 

Gujarat is the fastest-growing state for the last nine years (from FY12 to FY21), according to the latest data released by RBI. Gujarat’s Gross State Domestic Product (GSDP) at the constant price has increased at compounded annual growth rate (CAGR) of 8.2 per cent.

Karnataka is the second fastest-growing major state economy, with a CAGR of 7.3 per cent. At the third spot is Haryana. With a CAGR of 6.7 per cent, Madhya Pradesh is ranked fourth in the list of fastest-growing states. Madhya Pradesh is followed by Andhra Pradesh which has registered an annual GSDP growth rate of 6.5 per cent.

India jumps to 48th place in international aviation safety ranking : DGCA.

India has jumped to the 48th position — its highest ever spot — in the global aviation safety ranking by the International Civil Aviation Organization (ICAO), the Directorate General of Civil Aviation (DGCA). Four years ago, the country was ranked at the 102nd position.

In the ranking, Singapore is at the top, followed by the UAE and South Korea at the second and third positions, respectively, the officials said.

The International Civil Aviation Organisation (ICAO) had last month audited the Indian Directorate General of Civil Aviation (DGCA) to check its effective implementation (El) of critical safety elements.

The higher ranking means that India has improved its air safety processes. Better aviation safety in home skies also allows Indian carriers to expand faster in overseas markets as permissions for new services are easier to get.

How is digital currency different from UPI.

The Reserve Bank of India (RBI) on December 1, 2022, began the much-awaited trial run of India’s first retail central bank digital currency (CBDC) or ‘e-rupee’ in four cities—Mumbai, Delhi, Bengaluru, and Bhubaneswar—through eight participating banks.

CBDC is not expected to replace India’s premier instant payment solution, Unified Payment Interface (UPI), instead, it is touted to replace physical cash.

Experts pointed out that to carry out payments through UPI, individuals need to have a bank account and often a functioning debit card, but for accessing the e-Rupi wallet, there will be no need to have such a bank account.

UPI transactions are backed by physical currency. This means the payment will not go through if the user’s bank account does not have enough funds. The e-rupee, however, can be used for digital payments in lieu of currency/cash. “The e-rupi is issued by RBI and is a legal tender in itself. It need not necessarily be backed by physical currency.

Cost of living index by EIU.

All over the world, the cost-of-living crisis is continuing to bite. According to the Worldwide Cost of Living Index, which is run by Economist Intelligence Unit (EIU), the average cost of living is up by 8.1 percent – largely thanks to the Russian war in Ukraine and the long-term consequences of the pandemic.

However, the crisis is much worse in some places than others – and that’s highlighted by this year’s Worldwide Cost of Living Index. Taking into account changes in the price of everyday goods in 172 cities around the world, the Index has come out with a ranking of the world’s most expensive cities right now. 

Top was a tie between New York and Singapore, with New York topping the poll for the first time. Both knocked Tel Aviv down to third, with the Israeli city having been named the most expensive city in the world in the EIU’s 2021 rankings.

Down the other end of the list, the least expensive cities in the world are apparently Damascus in Syria, Tripoli in Libya and the Iranian capital, Tehran. Damascus and Tripoli were also named the least expensive cities in last year’s list.

India will witness a rise in gamers by 2025.

The number of Indian gamers is expanding at a compounded annual growth rate (CAGR) of 12% and is expected to jump to 700 million in FY25 compared with 507 million in 2021, said a new report by Dentsu titled Gaming Report India 2022 – For the Game.

The report said that 46% of gamers in India are women and that overall, ‘Real Money Game’ revenues currently constitute 57% of market size but future growth is projected to be driven by in-app purchases growing at a 34% CAGR. There were 120 million paying users in FY22, which represents a 24% conversion rate.

Anita Kotwani, CEO, Carat India & lead at Dentsu Gaming, said, “Gaming’s growing cultural impact, combined with the promise of the metaverse, has generated endless opportunities for advertisers. With the meteoric expansion of esports and streaming platforms, gaming has shifted from solitary play to spectator sport. Gaming platforms are now the main avenue for social connections and self-expression. One cannot follow the cookie-cutter approach anymore given the fluidity & dynamism of the industry.”