The government under the prime ministership of Narendra Modi on November 8, 2016, had announced that the largest denomination of Rs 500 and Rs 1000 were demonetised with immediate effect ceasing to be a legal tender. This move led to widespread impacts across all the sectors of the economy. In a recent report by Azim Premji University, around 50 lakh people lost their jobs since demonetization was launched in November 2016. This report on jobs has come at a time when employment is one of the biggest issues in the Lok Sabha elections.
The government has set the target of achieving 100% Electric vehicles by 2030. Manufacturing and putting the electric cars on road is the vision to make India pollution free along with saving billions of dollars in fuel cost and creating new job opportunities. However, there are also criticisms that India is not yet ready for electric vehicles which we will discuss in this article with a suitable way forward.
Blockchain technology, also known as the decentralised, distributed ledger technology, has gained popularity in India in the last 2 years. According to studies, in the next 5 years, Blockchain has the potential to add value to the tune of USD 5 billion across all sectors in India.
Various banks in India have been increasingly adopting this technology. Utilising this distributed ledger technology, a group of India’s 11 largest banks including ICICI Bank, Kotak Mahindra Bank, HDFC Bank, Yes Bank, Standard Chartered Bank, RBL Bank, South Indian Bank, and Axis Bank have launched the 1st ever blockchain-linked loan system in the country. This not only guarantees transparency in loan disbursement but also eliminates any communication challenge among the different banks.
Recently the Prime Minister has launched the indigenously-developed National Common Mobility Card (NCMC).Dubbed as ‘One Nation One Card’, the inter-operable transport card would enable the holders to pay for their travel expenses (bus, metro, railways), toll taxes, parking charges, retail shopping and even withdraw money across the country.This type of system already exists in various developed countries like UK, Singapore, etc. and now it will be used in India too.
Recently, the DRDO’s anti-satellite missile system (ASAT) project named Mission Shakti successfully destroyed a live satellite in the Low Earth Orbit (LEO) (300 km altitude). With this test, India became the fourth country after the US, Russia, and China to achieve the feat. It is considered to be a milestone for the institutions and a significant development in terms of strengthening the country’s overall security. However, the test also sparked controversy regarding space militarization and space debris.
The New Drugs and Clinical Trial Rules, 2019 released by the government seeks to enable faster approvals and to cut down on red tape with respect to the clinical trials in India. It seeks to promote clinical research in India by providing for a predictable, transparent and effective regulation for clinical trials and by guaranteeing faster accessibility of new drugs to the Indian population. Thus it has the potential to reinvigorate the clinical research industry, which was almost on its death bed a few years ago.
This article answers the following questions in an analytical manner.
- What are clinical trials?
- What is the need for clinical trials?
- How Clinical trials are conducted?
- Why is India a popular destination for Clinical trials?
- What is the regulatory mechanism for Clinical Trials in India?
- What are the key Issues regarding Clinical Trials in India?
- What are the measures taken by the government to solve those issues?
- What are the features and significances of the new rules of 2019?
- What are the suggestions to further improve the scenario?
The Union Cabinet has approved the National Policy on Electronics (NPE) for the Electronics System Design and Manufacturing (ESDM) sector in India. The aim of the policy is to make India a global hub for ESDM by creating an enabling environment for the industry.
Researchers have revealed that Earth’s Magnetic North Pole is rapidly drifting away from Canada Arctic towards Russia. The issue has got so bad that researchers around the world are scrambling to update the World Magnetic Model (WMM) that is the base of all modern navigation, from the systems that steer ships at sea to Google Maps on smartphones.