A new Digital Rupee is proposed to be introduced by the Reserve Bank of India using blockchain technology starting from 2022-23, Finance Minister Nirmala Sitharaman said on Tuesday. In her Union Budget 2022-23 speech, she also said Rs 1 lakh crore financial assistance to states will be provided in 2022-23 to catalyse investments.
Geopolitical risks emanating from the Russia-Ukraine conflict is expected to push India’s import bill higher. Consequently, the trend will widen the country’s Current Account Deficit. The crisis is expected to increase prices of mineral fuels and oils, gems and jewellery, edible oils and fertilisers. At present, India has a significant import dependence for these items.
Digital transformation is redefining business operations across the economic landscape. The appetite for adopting a well-integrated and digital-first strategy is definitely on the rise. Cloud has become a critical element of enterprises’ digital strategy, with cloud migration a priority for CIOs. As a result, ICT spending is expected to reach $111 billion by 2024, as per IDC.
Google will pay to carry stories from Canadian news outlets under an agreement announced yesterday. Details are sparse but the process for compliance with government’s C-18 law has been simplified to meet some Google objections. Meta, the only other firm required to make payments under the law, has not changed its decision to block reliable news.