Page 39 - NIS English May16-31

INDIA READY TO LEAD THE FOURTH

INDUSTRIAL REVOLUTION

93%
Artificial Intelligence, Machine Learning,
Internet of Things, Blockchain and Big Data Increase in access to
have the potential to take the country to telecommunications. Over 50 Crore
new heights. In the present age technology Indians have access to mobile phones
is an important means to achieve complete India is the largest mobile internet
progress. It is on this path that India can fulfil consuming country in the world.
its dream of self-reliance in the long run. In Rates are the lowest. Mobile data
the words of Prime Minister Narendra Modi, 120 consumption has increased by 30
“India was a slave at the time of the World's times in the last 4 years
Crore
first and second industrial revolutions. Indians have Under these circumstances, India is
When the Third Industrial Revolution took Aadhar now fully prepared to lead the world’s
place, India was struggling to deal with fourth industrial revolution
the challenges faced post-Independence. The country is constantly
But now India is fully prepared. At present, 1.58 Lakh moving forward in terms of
50 per cent of the country’s population is Gram Panchayats now innovation. The 52nd rank in
below the age of 27 years. Therefore, India have optical fibre. In the Global Innovation Index is a
is ready to play an important role in the 2014, it was only up to witness to this. It has improved
fourth Industrial Revolution.” 59 Gram Panchayats continuously in 7 years
GST

In a significant reform to the tax system under the collected. This is the sixth consecutive month that
one country-one tax regime the Goods and Services GST collections crossed Rs 1 Lakh Crore
Tax (GST) has helped to take the economy to a new For the first time, faceless assessment was
height. When industry and traders got a relief from introduced to respect the honest taxpayer.
the tax net, the loss of revenue also came down Through the ‘Vivad Se Vishwas’ scheme initiative
In March 2021 a record Rs 1.23 Lakh Crore GST was taken to reduce pending tax cases

DEFINITION OF MSME CHANGED... rising debt deficit. NPAs declined from 11.5 per
Whenever the world faced economic crisis, India cent in March 2018 to 9.3 per cent in March 2019
has managed to avoid it, because agriculture and 8.5 per cent in March 2020.
and small and medium enterprises have acted
as its backbone to support India’s economy. The For the First Time PLI for Industries…
definition of MSME sector, which holds 29 per cent Till now, only governments were giving cheap loans,
share in the economy, was changed. Target is to electricity, water, etc. to the industries. But for the
increase their share up to 50 per cent in the GDP. first time, the Central Government announced an
incentive link package for 13 sector industries
MERGER OF PUBLIC SECTOR BANKS that have performed well in manufacturing. The
It was decided to merge 27 Public Sector banks to Rs 1.97 Lakh Crore PLI will generate $500 Billion
form 12 banks to improve the condition of banks manufacturing output in the next 5 years and create
facing poor economic condition and reduce the 1 Crore new jobs.

New India Samachar 37