Economy
Setting up of data centres should not be mandatory: Amitabh Kant
A decision to set up data centres in the country cannot be mandatory and it will be not be conducive for the eco-system, Niti Aayog CEO Amitabh Kant said on Tuesday.
 
"Decision to set up data centre in the country cannot be mandatory and it will be not be conducive for the eco-system. I will initiate a dialogue with departments like IT, Telecom and Energy to create the best possible infrastructure for data centres," Kant said.
 
He was speaking at the launch here of a report "Make in India - Conducive Policy & Regulatory Environment to Incentivise Data Centre Infrastructure" by Internet and Mobile Association of India (IAMAI).
 
According to the report, India's data centre infrastructure market will be around $7 billion by 2020.
 
The Indian data centre infrastructure market is valued at $2.2 billion and is poised to be the second largest market for data centre infrastructure within the Asia Pacific region by 2020.
 
The IAMAI report highlights the opportunities for India to become a leading player in the global data centre market if conducive policy and regulatory frameworks are adopted. 
 
The paper highlights key measures to increase innovation and stimulate innovation in what is widely considered to be one of the fastest growing technology segments at present.
 
The paper urged the government to facilitate data centre operations in India through clear policies to facilitate trans-border flow of data and tax incentives to woo foreign players.
 
At the same time, the paper warns against the dangers of forced localisation of data, adding that the same would reduce competitiveness, affect gross domestic product and harm India's fledgling reputation as an emerging data centre hub.
 
"India has the potential to capture a big share in the Global Data Centre market," said IAMAI president Subho Ray.
 
To fully realise this potential, India needs to "address some of the risks and barriers to data centre operations in the country today and create the right incentives for businesses to build effective data centre infrastructure," said Ray.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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13 cities win fast track Smart City competition
The Urban Development Ministry on Tuesday announced 13 winners of the fast-track Smart City competition, with Lucknow topping the list.
 
These cities can now compete to be a "Smart City" in the next cycle of "India Smart Cities Challenge". 
 
Announcing the list, Urban Development Minister M. Venkaiah Naidu said Lucknow, which could not make it to the first list of 20 mission cities last year, had improved the quality of its Smart City plan. Twenty-three cities participated in the fast track competition.
 
The other cities that made it to the next round are Warangal (Telanagana), Shimla, (Himachal Pradesh), Chandigarh, Raipur (Chhattisgarh), New Town Kolkata (West Bengal), Bhagalpur (Bihar), Panaji (Goa), Port Blair (Andaman & Nicobar Islands), Imphal (Manipur), Ranchi (Jharkhand), Agartala (Tripura) and Faridabad (Haryana).
 
The minister said these 13 cities were selected based on the marks scored by them in the fast track competition and the benchmarks set by the top performers in the first cycle of the challenge.
 
Only 12 states and UTs were represented in the first list of 20 mission cities announced in the first cycle of "India Smart Cities Challenge" on January 28.
 
The first 20 cities were selected from 98 mission cities.
 
Meanwhile, there was a tie between Meerut and Rai Bareli in Uttar Pradesh and Jammu and Srinagar in Jammu and Kashmir, which will be resolved by allowing them to participate in the next round and one city from each of these two states will be selected based on the quality of Smart City plans.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Public debt falls to Rs.55.73 lakh crore at fiscal-end
India's public debt declined marginally to Rs.55.73 lakh crore at the end of the last fiscal in March, registering a fall over the previous quarter of 0.04%, an official statement said on Monday.
 
Government debt (excluding liabilities under the Public Account) was at Rs 55.75 lakh crore at the end of December 2015, said the quarterly report on debt management released by the finance ministry.
 
Government's domestic borrowing for 2015-16 have been revised downwards, it said.
 
"Government issued dated securities worth Rs.84,000 crore to complete its gross borrowings of Rs.5,85,000 crore for FY 16.
 
"Gross and net market borrowing requirements of the government for FY16 were revised lower to Rs.5,85,000 crore and Rs.4,40,608 crore, which were lower by 1.18% and 2.75%, respectively, than Rs.5,92,000 crore and Rs.4,53,205 crore in FY15," it said.
 
"The cash position of the government during Q4 of FY16 was comfortable and remained in surplus mode during the quarter. The issuance amount under Treasury bills was also broadly as per calendar," it added.
 
The outstanding internal debt of the government at Rs.5,130,179 crore constituted 37.8% of GDP at end-March 2016, as compared to 38.7% of GDP at end-December 2015.
 
Central government dated securities continued to account for a dominant portion of total trading volumes in the fourth quarter of 2015-16, it said.
 
Net inflows in the form of foreign direct investment during the quarter in question were robust and more than sufficient to fund the external financing requirements, the report added.
 
During 2015-16, there has been an accretion of $18.54 billion to the foreign exchange reserves which touched $360.1762 billion at end-March 2016. 
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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