Cabinet approves 'National Critical Mineral Mission'
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Government approves ?100 cr loan guarantee scheme for MSMEs
The government has launched the Mutual Credit Guarantee Scheme for micro, small, and medium enterprises (MSMEs), offering loan guarantees up to ?100 crore. Aimed at boosting manufacturing and MSME growth, the scheme will provide collateral-free loans with flexible repayment terms to support capacity expansion.
HIGHLIGHT OF THE DAY
Digital payments in India saw an 11.11% year-on-year rise as of September 2024, with RBI's Digital Payments Index reaching 465.33. The growth was driven by improvements in payment infrastructure and performance across the country. The index, initiated in March 2018, is published semi-annually.
Coffee Island enters India with customizable coffee experience
European coffee chain Coffee Island has launched its first outlet in India, partnering with Vita Nova to expand across Delhi NCR, Mumbai, and Hyderabad. As Greece’s largest food service chain with nearly 500 global stores, the brand aims for 250 locations in India by 2029.
LEAD STORY
Cabinet approves ‘National Critical Mineral Mission’
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the launch of the National Critical Mineral Mission (NCMM). The Mission seeks to enhance the exploration of critical minerals in India and in its offshore regions while developing a resilient value chain with an investment of ?34,300 crore over seven years.
领英推荐
Driving growth in India’s Agritech sector: Budget 2025 expectations
India’s US$ 24 billion agri-tech sector is growing with technologies like drones and precision farming, but faces challenges such as low awareness and limited credit access. Experts call for fiscal support in Budget 2025 to boost drone technology, provide uniform subsidies, and revamp the ?500 crore PLI scheme. They also emphasize the need for increased R&D in AI and climate-smart farming, along with support for sustainable practices to enhance India’s global competitiveness.
India approves ?10,000 cr ammunition deal for Pinaka Rocket Systems
India’s Cabinet Committee on Security has greenlit the country’s largest domestic ammunition contract, valued at ?10,000 crore. The contract includes the production of enhanced-range Pinaka rockets and area denial munitions, which will be manufactured by Munitions India Ltd and Economic Explosives Ltd. With a range of up to 150 km, these advanced rockets will significantly enhance the Indian Army’s operational capabilities.
Cabinet hikes ethanol procurement prices for Public Sector OMCs
The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved an increase in the ethanol procurement price for Public Sector Oil Marketing Companies (OMCs) under the Ethanol Blended Petrol (EBP) programme for the Ethanol Supply Year (ESY) 2024-25. The approval will support the government’s policy of ensuring price stability and fair returns for ethanol suppliers while also reducing dependence on crude oil imports, saving foreign exchange, and benefiting the environment.
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