Gujarat was ranked the best state for startups in India, by the Department of Industrial Policy and Promotion, which falls under the Commerce Ministry. The DIPP Thursday announced rankings of states and Union Territories (UTs) for 2018 on the basis of the environment they’ve created for startups. Karnataka, Kerala, Odisha and Rajasthan were ranked as the other top performers.

The representative for Gujarat explained during the event today that the state has allocated an Rs 100 crore budget for startups and provided assistance to at least 200 projects.

The rankings are based on steps taken by the states and UTs to create a conducive environment for startups and promote entrepreneurs. The exercise was carried out by the Department of Industrial Policy and Promotion (DIPP), which falls under the ambit of the Commerce Ministry.

The DIPP examined 14,565 startups across the country. Maharashtra has the largest number of startups (2,787), followed by Karnataka (2,107), Delhi (1,949), Uttar Pradesh (1,201), Haryana (765) and Gujarat (764). These companies offer services in various sectors including IT, healthcare, education, food, agriculture, renewable energy, and technology hardware.

The government launched ‘Startup India’ in January 2016 to give impetus to entrepreneurs in the country. Under the initiative, it promised tax exemptions for startups for three years and quick patent registrations among other things.

The Appointments Committee of the Cabinet has approved the appointment of Pranab Kumar Das as the Chairman of CBIC from January 1, 2019.

Das will take over from current Chairman S Ramesh, who retires on December 31.

The Central Board of Indirect Taxes and Customs (CBIC) is the apex indirect tax policy-making body under the Finance Ministry.

The CBIC is headed by the Chairman and consists of six members, who overlook various areas such as customs, central excise, service tax, Goods and Services Tax (GST), administration and budget, among other.

IDFC Bank and non-banking financial company (NBFC) Capital First have announced completion of their merger, creating a combined loan asset book of Rs 1.03 lakh crore for the merged entity IDFC First Bank. “IDFC Bank and Capital First merged effective 18th December 2018. Merged entity to be called IDFC First Bank, subject to shareholders’ approval,” the firms said in a joint statement.

Following the merger, the board of IDFC Bank approved the appointment of V Vaidyanathan, founder and chairman of Capital First Ltd, as Managing Director and Chief Executive Officer of the merged entity, said the statement. His appointment awaits shareholders’ approval. The boards of IDFC Bank and Capital First met yesterday to take note of all requisite approvals and the order from National Company Law Tribunal; and approved the scheme of amalgamation.

Adoption may get a leg-up in India following the passage of the Surrogacy (Regulation) Bill, 2016, by the Lok Sabha on Wednesday, banning commercial renting of wombs and allowing only “altruistic surrogacy”.

According to the Bill, all except legally married Indian couples who otherwise would not be able to conceive will be barred from opting for surrogacy. Besides, only a close relative can become a surrogate for “medically proven infertile” couples.

Experts claim that the stringent rules and regulations may encourage couples to turn toward adoption. “As surrogacy services were easily available, people used to hire a surrogate for having a baby, no matter if they were married, single or same sex couples,” said Ranjana Kumari, director of the Centre for Social Research.

“As commercial surrogacy will not be an option in the near future, intended single parents or couples willing to have a baby will look at adoption to fulfil the need. This may possibly boost the dismal adoption figures in India,” she said.

Congress president Rahul Gandhi has promised to waive of farm loan nationwide if the party is voted to power in the next general elections. In Assam, in a move seen as warming up to the farmers, the state’s BJP-led coalition government has announced that it will make agricultural loan interest-free from the next financial year.

The Sarbananda Sonowal government on Wednesday announced three schemes—Assam Farmers’ Credit Subsidy Scheme (AFCSS), Assam Farmers’ Interest Relief Scheme (AFIRS) and Assam Farmers’ Incentive Scheme (AFIS)—for the welfare of farmers.

“Under AFCSS, whatever amount of loan the farmers took from banks and whatever amount they repaid, 25 per cent of the money will be reimbursed by the state government. For example, a farmer availed of a loan of Rs.1 lakh and repaid Rs.50,000. If he repays another Rs.25,000, then the remaining Rs.25,000 will be paid by the state government. The upper cap of the government’s assistance will be Rs.25,000,” he said.

Legendary kabaddi player and India’s World Cup-winning captain, Anup Kumar announced his retirement with immediate effect. Kumar, who began his international career in 2006 at the South Asian Games in Sri Lanka,  made the announcement as his team, Jaipur Pink Panthers squared of against Gujarat Fortunegiants at Panchkula. In a career spanning over 15 years, Kumar has led several teams to victory and grown the sport in the country.

A veteran in his sport, was part of the Indian National Kabaddi team that won gold medals in 2010 and 2014. Thereafter, he captained the Indian National team in 2014 and it was during his tenure that the team won 2 gold medals at Asian Games in 2014 and the Kabaddi World Cup in 2016. In season 2 of the Pro Kabaddi League, Anup captained U Mumba and led the team to victory. Kumar has also won the Arjuna Award.

As Jammu and Kashmir completed six months under Governor’s rule, President Ram Nath Kovind on Wednesday imposed President’s rule in the state.

Kovind signed the proclamation for imposition of Central rule in the state, which plunged into a political crisis in June after the Mehbooba Mufti-led coalition government collapsed.

After 1996, this is the first time the Central rule has been imposed in the militancy-hit state. The gazette notification issued on Wednesday said the President has received a report from Governor Satya Pal Malik and after considering it, he was “satisfied” that President’s rule was required.

Train 18, the fastest train from railways’ stable, will be flagged off by Prime Minister Narendra Modi on December 29 likely from his constituency Varanasi, sources said Wednesday. The country’s first engineless train will replace Shatabdi trains and will run between Delhi and Varanasi, the source said.

Train 18, manufactured by ICF Chennai at a cost of Rs 100 crore, recently became India’s fastest train by hitting speeds of over 180 kmph during trial-run on a section of the Delhi-Rajdhani route.

The gleaming blue-nosed train comes fitted with amenities at par with the best in the world — from on-board WiFi to a GPS-based passenger information system, touch-free bio-vacuum toilets, LED lighting, mobile charging points and a climate control system that adjusts the temperature according to occupancy and weather.

The train will have two executive compartments which will have 52 seats each and trailer coaches will have 78 seats each. The executive class will have rotating seats to match the direction of the train.

NITI Aayog on Wednesday unveiled its comprehensive national Strategy for New India, which defines clear objectives for 2022-23. 

Releasing the Document, Mr Jaitley said, reforms and entrepreneurship have to be accompanied by social consciousness. 

The Finance Minister said, the various verticals of NITI Aayog's Strategy Document gives form to the Indian model which emphasises on faster growth and better resource utilisation to improve the quality of life for all.

Our correspondent reports the Strategy Document advocates empowering and encouraging women to participate across all sectors of the economy, to build a strong and inclusive New India. 

It vouches for the transformation of the rural economy, creating a policy environment that enables income security for farmers and modernising agricultural technology for doubling farmers income. 

Later talking to media, NITI Ayog Vice Chairman Rajiv Kumar said, modernisation of the agriculture sector and creation of entrepreneurs are important to address the problems in the agricultural sector. 

He said, NITI Ayog is of the view that farm loan waiver is not a solution to agriculture sector problems but a palliative. 

He added that if state governments find that there is acute distress in farming community, they are entitled to waive off the farm loans as per their fiscal situation.

India made no improvement in the overall gender gap ranking by the World Economic Forum (WEF) in 2018, compared to 2017. It stood at a low 108 out of the 149 countries in 2018, the same as in 2017.

“India maintains a stable ranking this year, but its gap is directionally larger this year, with a 33 per cent gap yet to be bridged,” says the report, titled Measuring the Global Gender Gap.

India ranked lower on all segments - economic participation and opportunity, educational attainment, health and survival ranking, and political empowerment. “It (India) needs to make improvements across the board, from women’s participation to getting more women into senior and professional roles,” the WEF said.