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<ul><li>The collaboration will help <keyword id="6355975" type="General" weightage="100" keywordseo="axis-bank" source="Orion">Axis Bank</keyword> bank to leverage ITCMAARS, an <keyword id="16743846" type="General" weightage="20" keywordseo="agri-tech-application" source="Orion">agri-tech application</keyword> to address the agricultural requirements of farmers. </li><li>It will allow Axis Bank to offer a wide range of products and services through its semi-urban branches. </li><li>Products that will be offered would include farmer loans and <keyword id="185013" type="General" weightage="20" keywordseo="gold-loans" source="Orion">gold loans</keyword>, among others.</li></ul>Axis Bank has tied up with <keyword id="6357073" type="General" weightage="80" keywordseo="itc" source="Orion">ITC</keyword> Limited to offer the bank’s lending products and services to farmers who are part of ITC’s agricultural ecosystem. Through this partnership, Axis Bank aims to cater to financial requirements of unserved and underserved farmers in remote regions of the country. Products that will be offered would include farmer loans and gold loans, among others. The collaboration will allow Axis Bank to leverage ITCMAARS (Meta Market for Advanced Agricultural Rural Services), which is a full-stack agri-tech application, to reach out to the farmers and address their agricultural requirements. Additionally, it will also allow Axis Bank to offer a wide range of products and services through its semi-urban branches located across 656 Indian districts. Says Munish Sharda, group executive and head, Bharat Banking, Axis Bank, ‘This partnership is in alignment with our Bank’s Bharat Banking mission of extending our reach in the remote regions and providing them with seamless customer experience. With the help of ITCMAARS strong and enduring relationship with over millions of farmers, we believe that we can make a significant contribution in uplifting financial situation of the community.” Says Rajnikant Rai, divisional chief executive, agri business division, ITC Ltd, “ITC has over the years spearheaded multi-dimensional interventions to transform the lives of farmers, powered by the ITC e-Choupal eco-system that connects with over 4 million farmers. We have now implemented ITCMAARS, a phygital ecosystem that provides a range of solutions through hyperlocal and personalised advisory, agri-inputs, financial services and market linkages. We are happy to partner with Axis Bank to extend banking solutions to the farmers we have engaged with over the years.” ITCMAARS was launched in July 2022 to provide agricultural and allied services to farmers on a digital platform. The app was launched in seven states with over 40,000 farmers grouped in 200-plus farmer produce organisations (FPOs) under four value chains- wheat, paddy, soya and chilli. Going ahead, the group wants to take it to 4,000 FPOs and 10 million farmers. Through this initiative, Axis Bank aims to further scale up its Bharat Banking strategy by increasing the new-to-bank accounts in FY23. As on December 31st, 2022, its rural advances grew by 27% year-on-year (YoY), disbursements increased by 12% YoY and deposits grew by 16% YoY. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/this-startup-founder-who-ran-away-from-home-at-15-builds-a-100-crore-business/articleshow/98513355.cms">This startup founder who ran away from home at 15, builds a ₹100 crore business</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/fpis-continue-to-be-bearish-on-oil-gas-power-stocks-in-february-offload-equities-worth-7821-crore-in-the-two-sectors/articleshow/98511897.cms">FPIs continue to be bearish on oil &amp; gas, power stocks in February, offload equities worth ₹7,821 crore in the two sectors</a>

Axis Bank to tie up with ITC to offer rural lending products to farmers

New Delhi, Nov 18 () Collecting agricultural data in a decentralised economy is a big challenge and there is a need to adopt new technologies like big data and artificial intelligence to get more scientific information for policy making, Chief Statistician Pravin Srivastava said on Monday.
To produce quality data, there is a need to look at how data is collected, he noted.
Addressing the global conference on agricultural statistics here, Srivastava said: "Even though agriculture contributes about 17 per cent to the country's GDP, almost 50 per cent of the workforce is dependent on agriculture. ...We have huge informal economy and measuring an informal economy is a big challenge that the statistical system faces".
The country's decentralised economy and statistical set up pose a challenge in developing and collecting data. The machinery in the state and central government is facing these challenges on a day-to-day basis, he said.
As the demand for traditional data continues to increase, there is a need to look at the respondent burden in terms of how data is collected, Srivastava said, adding that quality data is required as decisions are taken based on that information.
Srivastava, secretary in the Ministry of Statistics and Program Implementation (MoSPI), further said, "If you want to look at climate change and its impact on agriculture and farmers, we really need to look at getting data from non-inclusive methods using big data, artificial intelligence, and whatever new contemporary techniques coming. Adopt that and we can get more scientific information for policy making".
Echoing views, Niti Aayog member Ramesh Chand said India has produced some globally reputed statisticians and consequently could set up a set of statistical system.
"However, that is now a thing of the past, I feel we could not keep pace with the agriculture statistics in developed countries," he noted.
During the last couple of decades, a big gap has risen between developed and developing countries in terms of availability of statistical data, indicators, quality and statistical application in almost all fields, he said.
"It is more glaring in agriculture where real time data on most of the variables is not available. For instance, we often talk of food waste. But, there is no official estimate how much food production is wasted in developing countries. Simple land use statistics are available in time gap of 4-5 years. Same in case of data on irrigation," he said.
One of the reason for considerable time gap in availability of quality data, Chand said that the welfare country is still depend on manual reporting from revenue officials.
"We have made so much advance in remote sensing and satellite for collecting data. Their use in agriculture data is very low," he added. LUX BAL

Need to adopt AI, new tech for collecting more scientific agri-data: Chief Statistician

Unlike before, everything from light bulbs to refrigerators to security systems are interconnected, and while these devices have made work- life easy, they’ve also created new attack vectors. Collectively these devices are termed as <a href="http://www.businessinsider.in/searchresult.cms?query=internet+of+things&amp;sortorder=effectivedate">internet of things</a>. Technology experts and pundits predict that these devices are poised to become more invasive than mobile phones. It’ll contain sensitive data like social security numbers, banking information and who knows what. 
 This notion of combining sensors, networks and computers to observe and control devices, has existed since the inception of the word technology. The convergence of several market trends is giving <keyword id="1967280" type="ORGANIZATION" weightage="20" keywordseo="IoT">IoT</keyword> a widespread reality. Now, they include computing economics, <a href="http://www.businessinsider.in/searchresult.cms?query=cloud+computing&amp;sortorder=effectivedate">cloud computing</a>, IP-Networking, and data analytics. 
 
IoT is being used in various sectors, according to the current market trend, smart home devices are holding a monopoly in the current market. Its other applications include wearables, <a href="http://www.businessinsider.in/searchresult.cms?query=smart+cities&amp;sortorder=effectivedate">smart city</a>, smart grids, Industrial Internet, retail Agri-tech etc. 
 
Smart Home: This application of IoT currently stands out from the rest on all measured channels. The aggregate sum of financing for <a href="http://www.businessinsider.in/searchresult.cms?query=smart+homes&amp;sortorder=effectivedate">Smart Home</a> new businesses currently surpasses $2.5 billion. This rundown incorporates noticeable startup names like AlertMe and additionally various multinational partnerships like Philips, Haier, <keyword id="10591" type="CITY" weightage="20" keywordseo="Samsung">Samsung</keyword> etc. 
 
Transportation &amp; Distribution: <keyword id="970768" type="UNKNOWN" weightage="20" keywordseo="internet-of-things">Internet of Things</keyword> is taking track and trace (logistics) to a whole new level. Not just location but various conditions like temperature, humidity, vibration, tilt etc can be measured. Not only it is monitoring drivers but also their equipments for safety purposes. Not to forget, driverless vehicles are getting closer and closer to reality, which will not only change the way people consume taxi aggregation services but also the logistics sector will see a new dawn. 
 
Agri-Tech: Precision agri-business depends on IoT. It makes seeding, watering system and the utilization of chemicals more exact. Moreover, it screens soil quality, wind pace and daylight levels so agriculturists know precisely what's happening with their yields. What's more, it saves resources and energy to lower costs and limit the impact on the environment. 
 
The Future of IoT 
“If policy makers and businesses get it right, linking the physical and digital worlds could generate up to $11.1 trillion a year in economic value by 2025”- <a href="http://www.mckinsey.com/business-functions/business-technology/our-insights/the-internet-of-things-the-value-of-digitizing-the-physical-world">McKinsey</a>’s report on IoT. 
 
Further, the report stated that the B2B applications of IoT will nearly capture 70 percent of the market. Now this clearly out powers its consumer centric uses like wearables, home automation devices etc. The health tech industry is not far, it is predicted that, by 2025, remote monitoring could generate $1.1 trillion a year just through chronic disease patients. 
 The global research firm Gartner gauges that a year back, there were 3.8 billion associated things out there—autos, smoke finders, door locks, modern robots, streetlights, heart screens, trains, wind turbines, even tennis racquets and toasters. By 2020, the company estimates that there will be 25 billion of these savvy gadgets, transmitting modest measures of information to us, to the cloud and to each other. <keyword id="6390344" type="CITY" weightage="20" keywordseo="Cisco">Cisco</keyword>'s CEO, John Chambers, has announced that there will be 50 billion gadgets online inside five years, with an aggregate business sector worth $19 trillion. Another pioneer in this circle, <keyword id="73372" type="CITY" weightage="20" keywordseo="Siemens">Siemens</keyword>, has said these brilliant things are beginning to control a fourth Industrial Revolution (after steam, power and wired PCs). 
 
Privacy &amp; Security Concerns 
While security contemplations are not new with regards to data innovation, the properties of numerous IoT usages introduce new and extraordinary security challenges. Tending to these difficulties and guaranteeing security in IoT items and administrations, should be a major priority. Clients need to trust that IoT gadgets and related information administrations are secure from vulnerabilities, particularly as this innovation turns out to be more pervasive and coordinated into our everyday lives. 
 
The Internet of Things is rethinking the civil argument about protection issues, its usage can drastically change the ways individual information is gathered, examined, utilized, and ensured. For instance, IoT opens up concerns about the potential for expanded reconnaissance and following, trouble in having the capacity to quit certain information gathering, and the quality of amassing IoT information streams to paint definite advanced representations of clients. While these are imperative difficulties, they are not unrealistic. 
 
With a specific end goal to understand the open doors, procedures should be created to regard singular protection decisions over a wide range of desires, while still encouraging development in new innovation and administrations. 
 
Early models of Internet of Things accept the fact that IoT will be the result of substantial private and/or open innovation undertakings, yet later on "Construct your own particular Internet of Things" may get to be more typical as exemplified by the developing Arduino and Raspberry Pi60 designer groups. 
 
The Future of IoT (Predictive &amp; Prescriptive data analytics) 
Today, organizations utilize restricted arrangements of information to control procedures or screen frameworks. For instance, positive train control (PTC) screens train developments and averts mishaps. Also, a pipeline sensor recognizes a hole and cautions a repair group. These can be seen as a noteworthy change, yet they're just a small amount of what IoT can do. 
 
Soon pioneers in the IoT business sector can characterize a positive results (like higher unit deals or higher interim amongst disappointments) and let their investigation framework distinguish the most ideal activities—new activities that are completely in view of information from IoT sensors, business frameworks and outer sources—even ones that appear to be outlandish. 
 
We're not there yet. As of now, most organisations consider particular assignments and not how these errands could fit into a greater IoT environment. While numerous associations gather the information they'd use for prescient examination, a lot of it goes unused. However, that is evolving and there’s a lot left to see. 
 
Conclusion 
The digitization of machines, vehicles, and different components of the physical world is a capable thought. Indeed, even at this early stage, the IoT is beginning to have a genuine effect by changing how merchandise are made and appropriated, how items are adjusted and refined, and how specialists and patients oversee wellbeing and health. 
 
However, capturing the maximum capacity of IoT applications will require development in advances and plans of action, and interest in new abilities and ability. With arrangement activities to energize interoperability, guarantee security, and ensure protection and property rights, the Internet of Things can start to achieve its maximum capacity—particularly if pioneers genuinely grasp information driven basic leadership.

Why Internet of Things cannot be just ignored?

New Delhi, Feb 18 () IT services major HCL Technologies on Tuesday said it has bagged a new large contract with New Zealand dairy co-operative, Fonterra to modernise and manage its entire technology infrastructure. The multi-year partnership with HCL Technologies will consolidate Fonterra's technology suppliers and bring together the co-operative's IT infrastructure services under one umbrella, HCL Technologies said in a statement. It, however, did not disclose the financial terms of the deal. "This partnership will also extend HCL's New Zealand presence to three offices within the country and will bring around 60 new jobs to the Waikato region as the local support services for Fonterra employees will be based at its Hamilton Delivery centre," the statement said. The partnership will reinforce HCL's focus in supporting the local New Zealand IT ecosystem by investing in local skills and partnering with regional companies and tertiary education groups to develop the local expertise to fill these roles over the coming years. "We have been supporting Fonterra for over a decade by managing its IT application support and maintenance portfolio including SAP. We are delighted to expand our partnership with Fonterra to modernise and manage the entire technology infrastructure," HCL Technologies Executive Vice President and Country Manager, (Australia and New Zealand) Michael Horton said. He added that the deal will enable the company to further support both Fonterra's business strategy as well as the agri-tech sector overall in the region. "Through our partnership with HCL, we are consolidating our external IT suppliers and through this, we expect to make significant savings relative to our existing infrastructure IT spend over the next five years," Fonterra Chief Information Officer Piers Shore said. Additionally, this partnership will enable the company to improve its cyber security framework and strengthen critical IT foundation, Shore added. SR SHWSHW

HCL Tech bags IT deal from New Zealand's Fonterra Co-operative

<ul><li>Income tax bonanza for the salaried class and the government’s capital expenditure push have emerged as the stars of Budget 2023-24.</li><li>While the income tax exemptions are expected to increase disposable incomes of taxpayers and thereby boost demand, the capex push is aimed at promoting growth and increasing job opportunities, say experts.</li><li>The government also announced a slew of measures for the agriculture and green energy sectors, promoting the use of technology to boost output and transition to green energy.</li></ul>An upward revision in income tax slabs and a continued push on capital expenditure investments emerged as the key highlights of the Union Budget 2023-24. While the revised tax slabs under the new tax regime will benefit the middle-class and salaried individuals, the government also announced a 33% increase in its capital investment outlay for FY24 to boost growth and promote job creation. “We are steering an ambitious people-centric agenda to address global challenges and to facilitate sustainable economic development,” finance minister Nirmala <keyword id="679937" type="General" weightage="80" keywordseo="sitharaman" source="Orion">Sitharaman</keyword> said, announcing the budget. Despite an increase in capital expenditure outlay, the government has continued on its path of fiscal consolidation. Sitharaman said that while the government will meet the fiscal deficit target of 6.4% in FY23, it has been reduced to 5.9% in FY24, and further below 4.5% in FY 25-26. Sitharaman also announced that the gross borrowings are estimated at ₹15.43 lakh crore in FY24, lower than the Economic Survey 2023 estimate of ₹15.77 lakh crore. “This budget is a Bahubali budget. With one arrow multiple targets are shot. Fiscal prudence is achieved with lower deficit and path set till FY26. Consumption is supported through tax cuts. Investment outlay is enhanced. Numbers are realistic or conservative to enhance the credibility,” said Nilesh Shah, managing director, Kotak Mahindra Asset Management Company. <cmsannotation type="cmsannotation" annotationid="Here are all the major announcements of Budget 2023-24" comment="subhead" text="Here are all the major announcements of Budget 2023-24">Here are all the major announcements of Budget 2023-24</cmsannotation> Slabs for income tax computation enhanced under the new regime: Under the new income tax regime, individuals with an annual income of up to ₹9 lakh will now have to pay an income tax of ₹45,000, which is an effective tax rate of 5%. The government has also increased the limit for rebate under section 87A of the Income Tax Act to ₹7 lakh from ₹5 lakh earlier. The following are the new tax slabs: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Slab </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tax rate </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹0-3 lakh </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nil </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3-6 lakh </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6-9 lakh </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹9-12 lakh </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12-15 lakh </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹15 lakh and above </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> In addition to this, there’s good news for salaried individuals as well, with the standard deduction being hiked to ₹52,500 from ₹50,000 earlier. Further, the tax exemption limit for leave encashment has been raised from ₹3 lakh to ₹25 lakh. Lastly, the new income tax regime will be applicable by default going forward. However, assessees will have an option to opt out and file their returns under the old regime. “More money in the hands of the middle class will have a cascading effect across the economy which needs this push as we continue to depend on domestic demand to beat the global uncertainty,” Sanjeev Krishan, chairperson, PwC in India. Capital expenditure outlay gets a major boost: In a bid to promote growth and job creation, the government has announced a 33% increase in capital expenditure outlay to ₹10 lakh crore for FY24, or about 3.3% of the gross domestic product (GDP). The capex outlay for FY23 is estimated at ₹7.5 lakh crore. Sitharaman outlined that infrastructure is one of the seven priorities of the government, which is now backed by the 33% increase in capex outlay for this segment. Overall, the government’s capex outlay has increased over three-fold from ₹3.1 lakh crore in FY19 to ₹10 lakh crore in FY24. Here’s how the government’s capex spending has trended since 2019 <div type="image" title="Capex spending FY19-FY24." msid="97524051" hostid="261" sizebytes="16064" caption="&amp;lt;p&amp;gt;Indian government&amp;#39;s capex spending trends since FY19&amp;lt;/p&amp;gt;"></div> “This is a positive development for domestic commercial vehicle space and more so for medium and heavy commercial vehicle (M&amp;HCV) domain,” said ICICI Direct. The government announced an allocation of ₹2.7 lakh crore for roadways and ₹2.4 lakh crore for railways. “A 33% increase in capital expenditure to ₹10 lakh crore, the highest ever, will go a long way in building roads, ports, and airports — crucial for making India a reliable investment destination. Investment of ₹2.4 lakh crore in railways is commendable,” said Anand Rathi, founder and chairman, Anand Rathi Group. Apart from this, Sitharaman also announced an outlay of ₹10,000 crore per annum to develop urban infrastructure. The government has also announced a 66% increase in funding for the PM Awaas Yojana to ₹79,000 crore in FY24, which will benefit engineering, production and construction companies. Further detailing the infrastructure push, Sitharaman said that the government has identified 100 critical transport infrastructure projects for steel, ports, fertilizers and other sectors with an investment outlay of ₹75,000 crore, which includes a private sector investment of ₹15,000 crore. Agri Accelerator Fund to encourage innovation: In a bid to promote the adoption of technology in the agriculture sector, the government announced a new Agri Accelerator Fund to promote agri-tech startups in rural areas, with a cluster-based and value chain approach through public-private partnerships. “The proposal to set up an Agri Accelerator Fund for agri-tech startups is a welcome move, and was much anticipated. Agri-tech startups who are focusing on improving the market reach for agricultural products and produce, as well as last mile delivery of products to farmers should benefit from this move,” said Raj Ramachandran, partner, JSA. Sitharaman also announced a slew of measures for the agriculture sector, which are: <ul><li>Increase in agriculture credit target to ₹20 lakh crore, with a special focus on animal husbandry, dairy and fisheries.</li><li>A new sub-scheme of PM Matsya Sampada Yojana with a targeted investment of ₹6,000 crore to further enable activities of fishermen and fish vendors.</li><li>Computerisation of 63,000 primary agricultural credit societies with an investment outlay of ₹2,516 crore.</li></ul>Green energy ambitions get a boost: The government also announced a slew of measures to encourage and promote green energy in India, including ₹35,000 crore priority capital for transition from fossil fuels to green energy. Of this, the specific outlay for National Hydrogen Mission has been set at ₹19,700 crore. The government has set a target of 5 million metric tonnes of hydrogen production capacity by 2030. Key players in the hydrogen space are Mukesh Ambani and Gautam Adani. Their green energy bets, primarily based on green and blue hydrogen, amount to $125 billion. <cmsannotation type="cmsannotation" annotationid="‘Force multiplier’ budget, say analysts" comment="subhead" text="‘Force multiplier’ budget, say analysts">‘Force multiplier’ budget, say analysts</cmsannotation> Overall, the budget has been well-received by experts, with the broad consensus being that this is a growth-oriented budget. “Growth with fiscal consolidation continues to be the continuing theme with capital expenditure at 3.3% of GDP while being committed to the long term 4.5% deficit target. Providing more incentives under the new tax regime to middle class Indians, will also widen the net of those who can invest,” said Radhika Gupta, MD and CEO, Edelweiss Asset Management. Sensex zoomed 1,180 points reacting to the tax announcements made by the government. The tax exemptions under the new regime will increase the disposable income in the hands of taxpayers, according to ICICI Securities, helping boost demand. “In keeping with its focus on inclusive growth, the Union Budget has hiked outlays on infrastructure and agriculture which in our view would have a force multiplier impact on the economy,” said S Ranganathan, head of research at LKP Securities. According to economists, the reduction in fiscal deficit targets for FY24 through FY26 will also offer relief for bond markets, with the 10-year bond yield projected to moderate to 7-7.1% in FY24, according to Abheek Barua, chief economist, HDFC Bank. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/sensex-zooms-as-finance-minister-delivers-tax-bonanza-to-middle-class/articleshow/97510050.cms">Sensex zooms 1,180 points as FM delivers tax bonanza to middle-class</a> <a href="https://www.businessinsider.in/budget/news/budget-2023-24-nirmala-sitharaman-speech-highlights-and-updates/articleshow/97512649.cms">Budget 2023-24 highlights: Those with income below ₹7 lakh a year need not pay income tax</a> <a href="https://www.businessinsider.in/budget/news/government-to-set-up-three-centres-of-excellence-in-artificial-intelligence/articleshow/97520242.cms">Budget 2023 gives a boost to artificial intelligence – government to set up three centers of excellence</a>

Income tax bonanza, capex push emerge as the stars of Budget 2023-24

New Indian unicorns get rarer in 2022 as funding winter sets in

<keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> has embraced technology in every field of activity. It is adopting smart farming methods through technology and innovation in the agriculture sector and this may prove to be a game changer in the days to come by substantially raising farmers income. How is this method beneficial? Smart farming involves the application of sensors and automated irrigation practices. It can help monitor agricultural land, temperature and soil moisture. This would enable farmers to monitor crops from anywhere. Moreover, smart farming can help integrate digital and physical infrastructures, which would benefit small farmers. Agri-based startups can reach out to the farmers and help them gain access to such viable and cost-effective solutions. Agri-based, tech-driven startups have been very innovative in assisting farmers and revolutionising farming techniques. They have also addressed one of the most powerful headwinds (climate change) through climate-smart farming. In a unique move, the Indian government is implementing a <keyword id="12166469" type="General" weightage="20" keywordseo="Digital-Agriculture-Mission" source="Orion">Digital Agriculture Mission</keyword> (DAM), which includes India Digital Ecosystem of Agriculture (IDEA), Farmers' Database, Unified Farmers Service Interface (UFSI), funding to the states on the new technology (NeGPA), revamping <keyword id="3182679" type="General" weightage="20" keywordseo="Mahalanobis-National-Crop-Forecast-Centre" source="Orion">Mahalanobis National Crop Forecast Centre</keyword> (MNCFC), Soil Health, Fertility and profile mapping. According to a report published by the National Association of Software and Services Companies (NASSCOM) in 2019, there were more than 450 argi-based tech-driven startups in India as of 2019. This number has skyrocketed in the last two years as the sector witnessed a surge in investments and funding. Agri-based tech-driven startups have been very innovative in assisting farmers and revolutionising farming techniques. They have also addressed one of the most powerful headwinds (climate change) through climate-smart farming. Under the NeGPA programme funding is given to the governments in various Indian states for Digital Agriculture projects using emerging technologies like Artificial Intelligence and Machine Learning (AI/ML), Internet of Things (IOT), Block chain etc. Adoption of drone technologies is being done too. To promote smart farming, the government promotes startups in the agriculture sector and nurtures agri-entrepreneurs. The 'Per Drop More Crop' component of the Pradhan Mantri Krishi Sichai Yojana (PMKSY-PDMC) aims to increase water use efficiency at the farm level through micro irrigation technologies like drip and sprinkler irrigation systems. PMKSY is a scheme initiated by Prime Minister Narendra Modi. The <keyword id="87560" type="General" weightage="20" keywordseo="Indian-Council-of-Agricultural-Research" source="Orion">Indian Council of Agricultural Research</keyword> (ICAR) promotes innovation, extension and education in agriculture. A total of 1,575 field crop varieties were released for different agricultural crops during 2014-21. During 2014-21, 91.43 crore agri-advisories were provided to farmers through mobiles. ICAR developed 187 mobile apps on different farm and farmer related services during 2014-21. The agriculture sector plays a vital role in enriching India's economy. Agriculture accounted for almost 17.8 per cent of India's Gross Value Added (GVA) in 2019- 20. According to the World Bank's collection of development indicators, employment rate in the Indian agriculture sector stood at 41.5 per cent in 2020. From a socio-economic standpoint, agriculture is a vital sector which requires focus and awareness at all levels. According to India Brand Equity Foundation, the rising population and changing diets have created a huge pressure on land in India. Farmers are struggling to keep up as crop yields level off, soil degradation rises, water shortage increases, biodiversity declines, and natural calamities become more frequent. Furthermore, agriculture accounts for almost 14 per cent of India's total greenhouse gas emissions. In the meantime, the NITI Aayog (erstwhile Planning Commission of India) conducted a study entitled "Efficacy of Minimum Support Prices on farmers", in 2016, which found, among other things, that MSP declared by the government has encouraged 78 per cent of the farmers covered under the study for adopting improved methods of farming such as high yielding varieties of seeds, organic manure, chemical fertilizer, pesticides and improved methods of harvesting etc. Additionally, oilseeds, pulses and copra of Fair Average Quality (FAQ) are procured from registered farmers under Price Support Scheme of the umbrella scheme of Pradhan Mantri Annadata Aay SanraksHan Abhiyan (PM-AASHA), as per its prescribed guidelines. The Indian national Budget for 2018-19 had announced the pre-determined principle to keep Minimum Support Price or MSP at levels of one-and-half times of the cost of production. Accordingly, government has increased the MSPs for all mandated Kharif (including wheat), Rabi and other commercial crops with a return of at least 50 per cent over all India weighted average cost of production from the agricultural year 2018-19. Moreover, India's National Crop Insurance Portal (NCIP) is the only source of enrolment for Pradhan Mantri Fasal Bima Yojana (PMFBY), on which farmer applications from various designated sources including banks/financial institutions are entered. Specific cut-off dates have been prescribed for enrolment of farmers, debit of premium, remittance of farmers' premium to concerned insurance company and uploading of data of farmers on NCIP. The <keyword id="603825" type="General" weightage="20" keywordseo="Ministry-of-Food-Processing-Industries" source="Orion">Ministry of Food Processing Industries</keyword> (MoFPI) has been incentivising setting of food processing industries through central sector umbrella scheme �Pradhan Mantri Kisan SAMPADA Yojana (PMKSY), Production Linked Incentive Scheme for Food Processing Industry (PLISFPI) and centrally sponsored scheme �PM Formalization of Micro Food Processing Enterprises (PMFME) scheme across all the country. Under scheme of creation of infrastructure for agro processing clusters, a component scheme of PMKSY, the scheme is aimed at development of modern infrastructure and common facilities to encourage entrepreneurs to set up food processing units based on cluster approach and also to create modern infrastructure for food processing closer to production areas and to provide integrated and complete preservation infrastructure facilitates from the farm gate to the consumer. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/india-must-pitch-for-rupee-as-dollar-distancing-might-be-finally-happening-sbi-ecowrap/articleshow/93513940.cms">India must pitch for Rupee as dollar distancing might be finally happening: SBI Ecowrap</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/snapchat-comes-to-india-with-exclusive-features-heres-how-much-it-costs-and-how-to-sign-up/articleshow/93513880.cms">Snapchat+ comes to India with exclusive features — here's how much it costs and how to sign up</a>

Smart farming can prove to be a game changer in the coming days

<keyword id="6355629" type="COMPANY" weightage="20" keywordseo="google">Google</keyword> on Wednesday expanded its programme for startups to support startups working on the solutions to solve real-life challenges towards the new normal post COVID-19 landscape in India. <keyword id="9416148" type="UNKNOWN" weightage="20" keywordseo="google-for-startups">Google for Startups</keyword> has opened applications for the new batch of <keyword id="9416150" type="COMPANY" weightage="20" keywordseo="google-for-startups-accelerator">Google for Startups Accelerator</keyword>, with a special focus on health-tech, fin-tech, edu-tech, agri-tech, retail and SaaS startups, the company said in a statement. The next batch will commence in August 2020 and the last date of applications is June 30. This will be the fourth class of startups mentored by Google, which has so far closely mentored over 60 startups in India to date. "We have been working very closely with over 250 Startups founders over the last two months, holding consults with our network of experts, mentors and VCs to help solve for the immediate challenges faced by the founder community," informed Paul Ravindranath G, Programme Manager, Google for <keyword id="9416146" type="COMPANY" weightage="20" keywordseo="startups-accelerator-india">Startups Accelerator India</keyword>. In addition to the fresh call for applications, Google for Startups also announced the launch of 'Emerging stronger: Playbook' for startups to face the Covid-19 Challenge. "We have captured the work of these last two months into a handy playbook which we hope will benefit the larger ecosystem," Ravindranath added. Beyond the Accelerator, Google for Startups will continue to offer support to startups via its partner programme and mentor network.

Google launches program to support Indian startups creating solutions for post COVID-19 world

<ul><li>Apart from startup founder, the Forbes India's list has a generous dash of youngsters from social media, television and the world of sports. </li><li>BB Ki Vines’ <keyword id="2517934" type="PERSON" weightage="20" keywordseo="Bhuvan-Bam">Bhuvan Bam</keyword> and Technical Guruji Gaurav Chaudhary also made their debut under the digital content creators category. </li><li>Five women across industries made it to the list against 26 men. </li></ul>Startup founders dominated the list of Forbes’ 30 under 30 which recognizes the best of India’s vast young population. The 29-year old Varun Khona, the co-founder of Headout, Aravind Sanka, Pavan Gutunpalli, SR Rishikesh, the cofounders of bike rental platform Rapido - were some of the prominent names in the list. But the list also has a generous dash of youngsters from social media, television and the world of sports. The youngest person to feature is 17 year old Saurabh Chaudhary, an Indian shooter who won two gold medals at the Asian Games and headed to 2020 Tokyo Olympics. Deepak Punia, 21, the first Indian to win a Junior World Championship also made it to the list. Young Indians who work for startups like the 29 year old Vikash Bakrewala, the youngest sales leader at B9 Beverages, the makers of Bira and Boom beers; were also showcased. All the three founders of Triton Foodworks which is making breakthroughs in organic farming were recognized too. <keyword id="8722570" type="PERSON" weightage="20" keywordseo="deepak-kukreja">Deepak Kukreja</keyword>, Ullas Samrat and Dhruv Khanna of Triton Foodworks are growing plants without using soil, thereby surpassing the limitations of land, fertility, and even water. The method uses 60-80% less water,” <a href="http://www.forbesindia.com/article/30-under-30-2020/forbes-india-30-under-30-india039s-young-guns-more-inspiring-than-ever/57513/1">Forbes. </a> A 27-year-old Gourish Singla of a healthcare startup like Shivom that uses blockchain technology to customize medication - was also a part of the list. “Our Forbes India 30 Under 30 members are showing the way forward on another road and to another group—to traditional and legacy businesses and professionals, across different categories like technology, health care, finance, science, media, design, fashion, sports, entertainment, and so on—with their innovations, fresh business models and a set of fresh eyes,” wrote Forbes.<a href="http://www.forbesindia.com/article/30-under-30-2020/forbes-india-30-under-30-india039s-young-guns-more-inspiring-than-ever/57513/1"> </a> BB Ki Vines’ Bhuvan Bam and Technical Guruji Gaurav Chaudhary also made their debut under the digital content creators category. Five women across industries made it to the list against 26 men. Here is the complete list of all the 30 under 30 stars: Krishnakant Mishra Brand Content Lead, Ogilvy Age: 28 The authJandia, is a 28-year-old artist who developed a practice that deals with history and historical images that chronicle events of conflict and violence. The painter then tells the story of the events that shape society's perception of them.or of the non- fiction book ‘The Exclamator’, Krishnakant Mishra is no stranger to young achievers lists. He was nominated for Impact Magazine &amp; Social Samosa’s ‘Top 30 advertisers in India under 30 in 2019. Vikash Bakrewala Division Director, Sales &amp; Marketing (South India), B9 Beverages Age: 29 Bakrewala is the youngest sales leader at the beer company B9 Beverages. He helped Bira and Boom expand to five geographical clusters within a year. Ullas Samrat Dhruv Khanna Co-Founder, Triton Foodworks Age: 29 Ullas and Dhruv, the young childhood friends who <a href="http://www.forbesindia.com/article/sustainability-special/water-of-plenty-meet-the-trio-practising-soilless-farming-in-delhi/50313/1">drifted apart </a>when Khanna’s family moved out to Singapore, came together again. And when they did, they started a self-funded startup to aid internet-enabled smart farms that use technologies like hydroponics. Sai Gole, Siddhart Dialani Co-Founders, Bharat Agri Age: 26 Siddharth Dialani and Sai Gole are the co-founders of Bharat Agri. Its algorithm helps farmers with the right time to cultivate grow in manner that maximises production and boosts income. Sanket Jadia Artist Age: 28 Jandia, is a 28-year-old artist who developed a practice that deals with history and historical images that chronicle events of conflict and violence. The painter then tells the story of the events that shape society's perception of them. Aravind Sanka, Pavan Guntupalli, SR Rishikesh 
 
 

 Co-Founder, Rapido Age: 28, 28, 27 Sanka, Guntupalli and Rishikesh are the co-founders of India's largest bike taxi booking application. The services which started in 2015 are now available in 100 cities across the country. Rishab Karwan, Nitin Rana 
 
 




 Co-Founders, GoMechanic Age: 26, 29 Karwan and Rana are the co-founders of the Delhi based startup Go Mechanic. The startup helps streamline the disorganised automobile service centres in India. Akanksha Deo Sharma 
 
 




 Designer, Ikea Age: 28 IKEA opened its first store in Hyderabad in 2018 since then Akasha is the only Indian designer at the Sweedish major. He uses Indian textile history, handicrafts and construction techniques to make minimalistic and playful products. Bhuvan Bam 
 
 




 Youtuber Age: 25 Bhuvan Bam, the famous youtuber in India is just 25, and was recently invited to the World Economic Forum in Davos to rub shoulders with CEO’s. Bam is also the first Indian to hit two million subscribers on Youtube. Gaurav Chaudhary 
 
 




 Youtuber Age: 28 Chaudhary who is popularly known as Technical Guruji on Youtube. In his channel, he breaks down all things tech for common people and explains how tech works. His channel has 15 million subscribers. Varun Khona 
 
 




 Co-Founder and CEO, Handout Age: 29 Varun Khona is the CEO and cofounder of Handout. It is an AI-powered platform to design curated tourist experiences for last-minute travellers, launched globally. Ajai Thandi, Ashwajeet Singh, <keyword id="8722571" type="PERSON" weightage="20" keywordseo="arman-sood">Arman Sood</keyword> 
 
 




 Co-Founder, Sleepy Owl Coffee Ages: 29,28,28 The Sleepy Owl Coffee launched from a two-bedroom apartment in Delhi by the co-founders Thandi, Singh and Sood. Now, the coffee brand is sold across 1,000 retail outlets in New Delhi and Mumbai with 60,000 customers. Akshay Chaturvedi 
 
 




 CEO, Leverage Edu Age: 29 Chaturvedi is the CEO of Leverage Edu, the platform focuses on career counselling and university admission. It caters to about 10,000 students and is on course to clock ₹10 crore in revenue for the current financial year. Sai Pallavi 
 
 




 Actor Age: 27 The girl who did her first film to miss math class in Grade 6 made it to Forbes list, and is the only actor in the list. Today, she is known for remarkable characters in Tamil, Malayalam and Telugu films -is also known for her dancing skills. Palak Shah CEO, Ekaya Age: 28 Shah is the CEO of Ekaya the brand focused on propagating the versatility and global appeal of Indian heritage weaves. The brand supports more than 8,000 weavers in India. Akshat Bansal Founder, Bioni Age: 29 Akshat Bansal brings sustainability and fashion together. In one of the Lakme Fashion Week 2018 collections, he used econyl fabric that was carved out of plastic waste. Ajeesh Achuthan Co-Founder and CTO, Open Age: 27 Ajeesh Achuthan co founded Open Financial Technologies — one of the world’s fastest growing neo-banking platforms. It provides financial services to MSMEs. Nikhil Kumar Co-Founder, Setu Age: 29 Nikhil Kumar led the team that built the BHIM app, that is owned by the government. The app was developed by the government to push India towards a cashless economy. Abhay Rangan CEO, Goodmylk Age: 22 Abhay Rangan, who started out as an active animal rights activist, is the CEO of Goodmylk. The startup provides plant based affordable milk in India. Krishna Gupta Founder, 1441 Pizzeria Age: 27 Krishna Gupta owns 1441 Pizzeria which serves fresh pizza made from woodfire ovens. The company which has five outlets now has ambitions to expand to 100. Priya Prakash Founder And CEO, HealthSetGo Age: 28 Prakash, who is a graduate from Lady Shri Ram College for Women, founded HealthSetGo to encourage healthy food habits amongst people. Gourish Singla Founder, Shivom Age: 26 Gourish Singla manages a blockchain startup named Shivom that provides genetic information to doctors. His startup was named in the top 50 innovative companies around the world at Smart Health Conference in Dubai in 2018. Jubin Varghese, Ameya Gadiwan Co-Founders, Gegadyne Energy Age: 24,25 Jubin Varghese, Ameya Gadiwan founded Gegadyne Energy in 2015 with an aim to provide a better alternative to lithium-ion batteries. It also won an award as the Startup of the year in 2019. Eshan Sadasivan CEO, PROSOC Innovators Age: 29 Eshan is an IIT Kanpur alumni who designed a foldable table that would help students in rural India. It aims to change the infrastructure deficit in India’s rural schools where students squat on the floor. <keyword id="178450" type="PERSON" weightage="20" keywordseo="Abhishek-Gupta">Abhishek Gupta</keyword>, Rishabh Verma CEO And COO, NavGurukul Age: 27, 24 Abhishek Gupta and Rishabh Verma are the CEO and COO of a NavGurukul which facilitates a one year residential programme to teach coding skills to low-income millennials. <keyword id="6287871" type="PERSON" weightage="20" keywordseo="suthirth-vaidya">Suthirth Vaidya</keyword>, Abhijith Chunduru, Adarsh Raj CEO, CTO, Chief Architect And Co-Founders, Predible Health Age: 27, 26, 27 Suthirth Vaidya, Abhijith Chunduru, Adarsh Raj together run Predible Health, a startup that uses AI to help doctors identify diseases. Saurabh Chaudhary Sportsman Age: 17 Chaudhary is the youngest person to feature on the list. The teen shooter who won a gold medal at the Asian games. Deepak Punia Wrestler Age: 21 Punia is an Indian wrestler who won a silver medal at the World Wrestling Championship. He is now looking forward to participating in the upcoming 2020 Summer Olympics. Akhil Aryan Co-Founder, ION Energy Age: 28 Akhil Aryan built Haptik — the world’s largest conversational AI platform. He is the co-founder of ION Energy, a battery management and intelligence platform that provides batteries. Amiya Adwitiya, Sisir Koppaka CEO and CTO, Squadcast Age: 29, 29 Amiya Adwitiya and Sisir Koppaka work with Squadcast as CEO and CTO respectively. Squadcast is a SaaS company that fixes the IT problems of their clients. See also: <a href="https://www.businessinsider.in/india/news/youtuber-bhuvan-bam-of-bb-ki-vines-makes-to-forbes-30-under-30-list/articleshow/73952923.cms">YouTuber Bhuvan Bam of BB Ki Vines makes to Forbes’ 30 under 30 list</a>

You Searched For "agri tech application" and got 9 results

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Smart farming can prove to be a game changer in the coming days

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Google launches program to support Indian startups creating solutions for post COVID-19 world

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Social media influencers, start-up founders and sportsmen dominate Forbes India's 30 under 30 list

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