|
Issue # 1 | May-July 2024
|
|
|
Driving Employment Generation in Rajasthan
CUTS International is happy to announce its recent Memorandum of Understanding (MoU) with the Government of Rajasthan to drive employment in Rajasthan by expanding trade and investment opportunities. This is perhaps the only type of partnership between the State government and a non-profit Think Tank with significant grassroots knowledge of the issues, as opposed to other such arrangements with consulting firms. That’s because we are close to the ground and understand the culture and nuances of various socio-economic issues that matter.
Rajasthan's people are facing a job crisis like any other part of India, particularly among the youth. This partnership will lead to sound progress in advancing employment in the State through better trade and investment in all sectors, including Agriculture. This would generate more and better gender-friendly employment and higher revenues. Rajasthan needs jobs, other livelihood opportunities, and higher revenues to reduce debt and deficit. The 2024-25 state budget aims to create 500,000 government jobs over the next five years. This initiative should prioritise better governance, not merely attract vote banks or expand government size.
Therefore, this initiative is aligned with India's vision of a "Viksit Bharat" (Developed India) by 2047, which focuses on inclusive and sustainable growth, harnessing the country's demographic dividend, technological advancements, and economic reforms. As one of the fastest-growing major economies globally, driven by robust domestic consumption and significant investments across various sectors, India is on a promising trajectory.
The State presents diverse investment opportunities across emerging and established sectors. Additionally, Rajasthan has a strong presence in traditional sectors. Its strategic location, extensive infrastructure, rich resource base, proactive government policies, and business-friendly environment make Rajasthan an ideal destination for investors.
In conclusion, addressing the job crisis, particularly among the youth and women, requires innovative and strategic partnerships. The State's robust infrastructure, rich resource base and business-friendly environment position it as a hub for industrial and investment growth. Rajasthan can significantly contribute to India's inclusive and sustainable development by harnessing these strengths. With continued efforts and strategic initiatives, we can ensure a prosperous future for Rajasthan and, by extension, India.
|
|
|
Union Budget Boosts MSMEs in Rajasthan
The Union Budget's emphasis on MSMEs has uplifted Rajasthan's business community. Finance Minister Nirmala Sitharaman's package includes financing, regulatory changes, and technology support for MSMEs, which constitute over 90 per cent of the state's industry and are major job creators.
New credit schemes and e-commerce export hubs aim to foster growth and global competitiveness for these enterprises.
Rajasthan Budget: A State-wise Progress Plan
The 2024-25 Rajasthan budget aims at holistic development, focusing on the poor, youth, and women. Key initiatives include youth policy, skill development, infrastructure projects, and job creation.
The budget outlines substantial investments in roads, renewable energy, water facilities, and sports. It aims to transform Rajasthan into a developed state by 2047, with significant capital expenditure planned to build a strong foundation for future growth
Four Lakh Vacancies to be Filled in 5 Years
The 2024-25 budget allocates ₹4.95 lakh crore. Key initiatives include filling four lakh vacancies in five years, ₹27,000 crore for health, and ₹15,000 crore for rural tap water.
Plans also involve free tablets for students, curbing paper leaks, tourism development, solar energy projects, and constructing pink toilets for women. Significant investments in infrastructure, renewable energy, and women's empowerment were highlighted.
Four Major Solar Energy Initiatives
Rajasthan Finance Minister Diya Kumari announced significant solar energy initiatives in the state budget, including model solar villages, a 2 MW solar plant, and solar-powered government offices. The budget aims to benefit all sections of society.
Additionally, plans to recycle water and campaigns to promote water conservation were introduced. The announcements are critical following recent electoral losses, with an eye on upcoming by-elections.
State Plans Invest Rajasthan Summit
In preparation for the Invest Rajasthan Summit 2024, the Urban Development and Housing Department has instructed all municipal bodies to identify investors and contact non-resident Rajasthanis. Emphasis is on stakeholder consultations and knowledge partnerships.
The Department prioritises identifying sub-sectors within the urban sector, including tourism, medical, industry, warehousing, and region-specific sectors, to broaden the summit's scope and attract diverse investments.
Mineral Reserves to Boost Rajasthan’s Economy
Newly discovered reserves of gold, copper, and lithium in Rajasthan are expected to significantly increase revenue and job opportunities. Mines Secretary Anandhi highlighted the sector's rapid development and its potential to employ up to 25 lakh people indirectly.
The state is enhancing mining activities, with auctions conducted at unprecedented rates. Strategic minerals like lithium are now being found locally, reducing dependency on imports and promising further economic benefits.
|
|
Waaree Energies: 900 MW for Rajasthan Solar
 Waaree Energies has secured a contract to supply 900 MW of solar modules for a power plant in Rajasthan, bolstering the State's renewable energy capacity. This initiative is part of Rajasthan's broader strategy to enhance its solar power infrastructure, aiming to achieve energy self-reliance.
The project is expected to contribute significantly to India's renewable energy targets, promoting sustainable development and reducing carbon emissions. |
Rajasthan Invites Suggestions on New Township Policy
 The Rajasthan government has introduced a draft township policy aimed at streamlining urban area development. The policy focuses on sustainable growth, improved infrastructure, and enhanced quality of life for residents.
Public suggestions are being invited to ensure comprehensive and inclusive planning. This initiative reflects the government's commitment to modernising urban development practices and accommodating future population growth.
|
|
Gold Discovered in Rajasthan
 Rajasthan has been identified as India's fourth gold-producing State, with significant deposits in the Bhukia-Dagocha area. This discovery is expected to boost the State's economy and create job opportunities. The development aligns with the State's strategic focus on leveraging mineral wealth.
The Rajasthan government is poised to facilitate necessary clearances and support mining activities, ensuring sustainable and responsible extraction practices.
|
|
Rajasthan Issues Solar Park Consultancy Tender
Rajasthan has issued a consultancy tender to identify and acquire land for solar parks, emphasising its commitment to renewable energy. The tender seeks firms to streamline administrative procedures and expedite project timelines.
This initiative aims to harness Rajasthan's solar potential, supporting India's renewable energy targets and positioning the state as a solar energy hub.
|
|
RSWM: Boosting Capacities and Driving Future
 Rajasthan Spinning & Weaving Mills Limited (RSWM) is expanding its operations, entering knit manufacturing, and acquiring Ginni Filaments' business. Investments in plant modernisation will enhance efficiency and competitiveness.
With 12 manufacturing plants in Rajasthan and over 10,000 employees, RSWM’s Banswara Plant aims to capture the global knits market. The acquisition will boost production capacity, reinforcing RSWM’s position in the textile industry
|
IFC Invests in Brookfield’s Solar Power Project
 The International Finance Corporation (IFC) is investing US$105mn in Brookfield’s 550 MW solar power project in Bikaner, Rajasthan.
This project, completed in two phases, aims to expand renewable energy infrastructure in India and reduce annual CO2 emissions by 804,408 tons. It will supply green energy through long-term power purchase agreements and the merchant market.
|
|
Maiden ‘Wed in India’ Expo Kicks Off in Jaipur
 The inaugural ‘Wed in India’ expo began on May 07, 2024, at Rambagh Palace, Jaipur, highlighting Rajasthan's role in wedding tourism.
Organised by the Ministry of Tourism and other partners, the event featured 300 exhibition booths showcasing luxurious accommodations and wedding services. It aimed to enhance India's wedding tourism industry and address its dynamics and impact.
|
59% of Germans Plan More Investments in India
 A survey reveals that 59 percent of German companies plan to expand their investments in India, driven by the country's potential for growth. This trend highlights India's increasing attractiveness as a destination for foreign direct investment.
Key factors include the Indian government's efforts to improve the business environment and vast market opportunities. The survey indicates a positive outlook for Indo-German economic relations, potentially leading to enhanced bilateral trade and investment ties.
|
|
1.8 Million Workers Benefit from Welfare Scheme
 The Indian government's labour welfare scheme has benefited over 1.8 million workers from various sectors, including beedi, cine, and non-coal mines. The scheme aims to improve workers' living conditions and economic stability through health, education, and housing benefits.
This initiative reflects the government's commitment to enhancing worker welfare and supporting the unorganised sector, which forms a significant part of India's labour force.
|
India Must Rework FDI Policy
 Revisiting India's Foreign Direct Investment (FDI) policy is crucial for sustaining economic growth and competitiveness. Current policies need adjustments to attract more investments, especially in sectors with high growth potential.
Simplifying regulatory frameworks, ensuring policy stability, and fostering a favourable business environment are essential steps. These measures will help India align with global investment trends and secure its position as a preferred investment destination.
|
|
CUTS International
Jaipur • New Delhi • Chittorgarh • Kolkata • Hanoi • Nairobi • Lusaka • Accra • Geneva • Washington DC
Copyright © 2024 CUTS International, All rights reserved.
|
|
|
|
|
|
|
|
