Finance Minister Nirmala Sitharaman said at a press conference that the government has identified infrastructure projects to the tune of Rs 105 lakh crore. Mukesh Ambani-led Reliance Industries has started its new commerce venture with JioMart. Current account deficit (CAD) narrowed to 0.9 per cent of the GDP in September quarter on the back of lower trade deficit, showed data released by the Reserve Bank of India. Read for more top stories from the world of business and economy:
The FM said that these projects are over and above the Rs 51 lakh crore spent by the centre and the states in the last six years.
JioMart is Reliance Retail's initiative to connect offline to online and link producers, traders, brands and consumers through technology.
Private transfer receipts, which primarily represent remittances by Indians employed overseas, rose to $21.9 billion during the September quarter, increasing by 5.2 per cent from their level reported in the previous year.
The government will charge a penalty of Rs 5,000 per day in case of failure to provide these platforms; the penalty will be applicable from February 1, 2020.
Reliance Jio's gross subscribers grew 9.1 million to 364 million - commanding 30.8 per cent market share. Since February 2019, its active subscribers have been 70 per cent of gross subscribers.