Prime Minister's Office

PM addresses RBI@90 opening ceremony

Releases commemorative coin to mark 90 years of RBI

“RBI plays a pivotal role in advancing our nation's growth trajectory”

“RBI has witnessed both the pre and post-independence eras and has created an
identity around the world based on its professionalism and commitment”

“Today we have reached a point where the Indian banking system is being seen as a
strong and sustainable banking system of the world”

“Government has worked on the strategy of recognition, resolution and

recapitalization”

“Steps like active price monitoring and fiscal consolidation kept inflation at a
moderate level even during difficult times of Corona”

“Today, India is becoming the engine of global growth with 15 percent share in
global GDP growth”
 “RBI is the appropriate body for the holistic appreciation of the banking vision of
Viksit Bharat”
Posted On: 01 APR 2024 12:49PM by PIB Delhi

The Prime Minister, Shri Narendra Modi addressed the opening ceremony of RBI@90, a program marking 90 years of
the Reserve Bank of India, in Mumbai, Maharashtra today. Shri Modi also released a commemorative coin to mark 90
years of RBI. The Reserve Bank of India (RBI) commenced its operations on the 1st of April in 1935 and enters its 90th
year today.

Addressing the occasion, the Prime Minister said that the Reserve Bank of India has reached a historic landmark today
completing 90 years of existence. He underlined that the RBI has witnessed both the pre and post-independence eras
and it has created an identity around the world based on its professionalism and commitment. The Prime Minister
congratulated all staff on the completion of 90 years of the RBI. Deeming the present RBI staff as fortunate, the Prime
Minister said that the policies drafted today will shape the next decade of RBI and noted that the next 10 years will
take RBI to its centenary year. “The next decade is extremely important for the resolutions of a Viksit Bharat”, PM
Modi said, highlighting the RBI’s priority towards fast-paced growth and focus on trust and stability. The Prime
Minister also conveyed his best wishes for the fulfilment of its goals and resolutions.
Emphasizing the importance of coordination of monetary and fiscal policies in the GDP and the economy of the
country, the Prime Minister recalled the 80-year celebration of RBI in 2014 and remembered the challenges and
problems like NPA and stability faced by the banking system of the country at that time. He said that starting from
there, today we have reached a point where the Indian banking system is being seen as a strong and sustainable
banking system of the world as the near moribund banking system of that time is now in profit and showing record
credit.

The Prime Minister credited clarity of policy, intentions and decisions for this transformation. “Where intentions are
right, results too are correct”, said the Prime Minister. Speaking on the comprehensive nature of reforms, the Prime
Minister stated that the government worked on the strategy of recognition, resolution and recapitalization. A capital
infusion of 3.5 lakh crore was undertaken for the helping public sector banks along with many governance-related
reforms. Just the Insolvency and Bankruptcy Code has resolved loans amounting to 3.25 lakh rupees, the Prime
Minister pointed out. He also informed the country that more than 27,000 applications involving underlying defaults
of more than Rs 9 lakh crore were resolved even before admission under IBC. Gross NPAs of banks that stood at 11.25
percent in 2018 came down to below 3 percent by September 2023. He said that the problem of twin balance sheets is
a problem of the past. PM Modi complimented RBI for their contribution to this transformation.

Prime Minister Modi pointed out that even though the discussions related to the RBI are often limited to financial
definitions and complex terminologies, the work carried out at RBI directly makes an impact on the lives of common
citizens. In the last 10 years, the Prime Minister said that the government has highlighted the connect between the
central banks, banking systems and beneficiaries at the last queue and gave the example of financial inclusion of the
poor. He mentioned that 55 percent of the 52 crore Jan Dhan accounts in the country belong to women. He also
mentioned the impact of financial inclusion in the agriculture and fisheries sector where more than 7 crore farmers,
fishermen and cattle owners have access to PM Kisan Credit Cards providing a significant push to the rural economy.
Referring to the boost for the cooperative sector in the past 10 years, the Prime Minister threw light on the importance
of regulations of the Reserve Bank of India regarding cooperative banks. He also mentioned more than 1200 crore
monthly transactions via UPI making it a globally recognized platform. The Prime Minister also touched upon the
work being done on Central Bank Digital Currency and said that the transformations of the past 10 years have enabled
the creation of a new banking system, economy and currency experience.

The Prime Minister emphasized the importance of clarity for the targets of the next 10 years. He pointed out the
importance of keeping an eye on the changes brought about by the cashless economy while promoting digital
transactions. He also stressed the need for deepening financial inclusion and empowerment processes.

Stressing the diverse banking needs of a large country like India, the Prime Minister underlined the need to improve
‘ease of doing banking’ and provide tailor-made services as per the needs of the citizens. He underscored the role of
artificial intelligence and machine learning.

He highlighted the role of RBI in speedy and sustainable growth of the country. Noting the achievement of RBI in
infusing rule-based discipline and fiscally prudent policies in the banking sector, the Prime Minister also asked for
advance estimation of the needs of various sectors to take proactive steps while assuring the banks of government’s
support. The Prime Minister also mentioned inflation-controlling measures like giving the right of inflation targeting
to the RBI and praised the performance of the Monetary Policy Committee in this regard. Steps like active price
monitoring and fiscal consolidation kept inflation at a moderate level even during difficult times of Corona.
“Nobody can stop a country from progressing if its priorities are clear”, the Prime Minister emphasized. He gave the
example of the government giving heed to financial prudence and prioritizing the lives of common citizens during the
covid pandemic which led to the poor and middle class emerging out of the adversity and giving momentum to the
country’s growth today. “The Indian economy is creating new records at a time when many countries in the world are
still trying to recover from the economic shock of the pandemic”, the Prime Minister said. He underlined the role of
RBI in taking India’s successes to the global level. Highlighting the importance of creating a balance between inflation
control and growth for any developing country, PM Modi expressed confidence that RBI can become a model for this
and play a leadership role in the world, thereby supporting the entire global south region.

Noting that India is the most youthful nation in the world today, the Prime Minister touched upon RBI playing a
critical role in fulfilling the aspirations of the youth. He credited the policies of the government in the opening up of
new sectors in the country thereby creating numerous opportunities for the youth of today. He gave the example of
the expansion of the green energy sectors and mentioned solar energy, green hydrogen and ethanol blending. He also
touched upon indigenously made 5G technology and rising exports in the defence sector. Speaking about MSMEs
becoming a backbone of India’s manufacturing sector, the Prime Minister highlighted the implementation of the
Credit Guarantee Scheme during the covid pandemic to support MSMEs. He stressed the RBI come up with out-of-the-
box policies to ensure credit availability for the youth associated with the new sectors.

Stressing the importance of innovation in the 21st century, the Prime Minister asked to be prepared for the proposals
that will come with regard to cutting-edge technologies with teams and identification of personnel for the task. He
asked the bankers and regulators to be ready for the needs of new and traditional sectors like space and tourism. He
mentioned the expert view that in the coming years, Ayodhya is going to become the biggest religious tourism center
in the world.

The Prime Minister credited the work done by the government for financial inclusion and digital payments which has
created transparency in the financial capacity of small businesses and street vendors. “This information must be used
to financially empower them”, PM Modi stressed.

PM Modi also stressed increasing the economic self-reliance of India in the next 10 years so that the impact of global
issues is mitigated. “Today, India is becoming the engine of global growth with 15 percent share in global GDP growth”,
Shri Modi remarked. He emphasized the efforts to make Rupee more accessible and acceptable throughout the world.
He also touched upon the rising trends of excessive economic expansion and increasing debt and pointed out the
private sector debt of many countries has doubled their GDP. Debt levels of many countries are also creating a
negative impact on the world, he said. The Prime Minister suggested RBI conduct a study on this keeping in mind the
prospects and potential of India's growth.

PM Modi underlined the importance of a strong Banking industry for providing required funding to the projects of the
nation. He noted the changes brought about by technologies like AI and BlockChain and noted the importance of cyber
security in the growing digital banking system. He asked the audience to think about the required changes in the
structure of the banking system in light of fin-tech innovation as new financing, operating and business models will be
needed. “Meeting the credit needs of global champions to street vendors, of the cutting edge sectors to traditional ones
is critical for Viksit Bharat and RBI is the appropriate body for the holistic appreciation of the banking vision of Viksit
Bharat”, the Prime Minister concluded.
Governor of Maharashtra, Shri Ramesh Bains, Chief Minister of Maharashtra, Shri Eknath Shinde, Deputy Chief
Ministers Shri Devendra Fadanvis and Shri Ajit Pawar, Union Finance Minister Smt Nirmala Sitharaman, Ministers of
State for Finance Shri Bhagwat Kishanrao Karad and Shri Pankaj Chaudhary, and RBI Governor Shaktikanta Das were
present on the occasion.

Narendra Modi
@narendramodi · Follow

The @RBI plays pivotal role in advancing our nation's growth trajectory. Speaking at
its 90th year celebrations in Mumbai.

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 Ministry of Coal

Coal Sector Shows Highest Growth of 11.6 % among Eight Core

Industries in February 2024
Posted On: 01 APR 2024 1:35PM by PIB Delhi

The coal sector has exhibited highest growth of 11.6 % (provisional) among the eight core industries for the month of
February 2024 as per the Index of Eight Core Industries (ICI)) (Base Year 2011-12) released by Ministry of Commerce &
Industries. The index of coal industry has reached 212.1 points during Feb’24 as compared to 190.1 points during the
same period of last year and its cumulative index has increased by 12.1% during April to February, 2023-24 over
corresponding period of the previous year.

The ICI measures the combined and individual production performance of eight core industries, viz. cement, coal,
crude oil, electricity, fertilizers, natural gas, refinery products, and steel.

The Combined Index of Eight Core Industries experienced 6.7% increase in February 2024, compared to the same
period of previous year.

The coal industry has consistently outperformed demonstrating sustained double-digit growth over the past eight
months and substantially higher growth than the overall growth of eight core industries in last two financial years.

The driving force behind this remarkable growth can be attributed to a significant surge in coal production during
February 2024, with output reaching 96.60 million tonnes, marking an increase of 11.83% compared to the same
period in the previous year.

*****

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 Ministry of Corporate Affairs

IICA and HP India launch HP Future Impact Leaders – IICA Certified

Environmental-Social-Governance (ESG) Professional Programme
Posted On: 01 APR 2024 8:55PM by PIB Delhi

The Indian Institute of Corporate Affairs (IICA), an autonomous institute under the Ministry of Corporate Affairs,
Government of India, has joined hands with HP India to introduce ‘HP Future Impact Leaders - IICA Certified
Environmental – Social - Governance (ESG) Professional Programme’. This initiative aims to promote
sustainability and empower corporate social responsibility (CSR) professionals to emerge as leaders in navigating the
intricacies of environmental, social, and governance (ESG) frameworks.

Under this programme, HP India in collaboration with IICA, will offer 100 percent scholarships to 75 candidates,
enabling them to pursue advanced education in ESG without financial barriers. The initiative underscores a shared
commitment to fostering sustainable business practices and driving positive societal impact. Applications for the first
batch of the ‘HP Future Impact Leaders- IICA Certified Environmental-Social-Governance (ESG) Professional
Programme’ for 75 scholars is now open and nominations could be submitted online on IICA website.

HP Future Impact Leaders initiative is designed as a comprehensive course on ESG, giving a holistic understanding
of the philosophy of ESG, its principles, its relevance, and its implications in the current scenario. The six-month
course comprising of self-paced learning modules will be delivered online. Renowned ESG professionals of
international & national repute are involved in delivering the live interactive master classes. There will be one in-
person session where participants will get the chance to meet their fellow participants.

The programme is designed to cater to professionals either working in business and human rights (BHR), ESG,
environmental health and safety (EHS), sustainability, and CSR. Candidates must possess a bachelor's degree in any
discipline and a minimum of five years of experience in relevant fields to be eligible for the programme.

Shri Praveen Kumar, Director General and CEO of IICA, said, "We are thrilled to collaborate with HP to launch this
programme. By combining IICA's expertise in corporate affairs and HP's commitment to sustainability, we aim to
cultivate a cohort of future impact leaders who will drive positive change and innovation in the ESG landscape."
Ms. Ipsita Dasgupta, Senior Vice President & Managing Director, HP India market, said, “Sustainable impact is at
the heart of HP’s business strategy. We constantly strive to achieve our most pressing environment and social goals of
driving climate action and accelerating digital equity through impactful strategies and actions. Our partnership with
the IICA is a significant step in this direction. Through this partnership we aim to impart quality education on ESG to
deserving candidates to enable them to be the change makers of tomorrow. We are excited about the possibilities this
collaboration holds to drive tangible progress in the Indian ESG landscape”.

Prof. Garima Dadhich, Head School of Business Environment, IICA said that the programme will feature an
innovative pedagogical approach, including self-paced e-learning modules, interactive online sessions, and exclusive
master classes conducted by renowned thought leaders and industry experts. Participants will benefit from an
immersive curriculum crafted by a distinguished panel of ESG experts, which focuses on national and international
frameworks, ensuring relevance across diverse organisational contexts.

For further inquiries regarding eligibility or the application process, candidates are encouraged to contact the
program coordinators or visit the official website: https://iica.nic.in/esgilp/demoesgilp.aspx.

About the Indian Institute of Corporate Affairs:

The Indian Institute of Corporate Affairs (IICA) is an autonomous Institute under the Ministry of Corporate Affairs,
Government of India. It serves as a think tank, capacity-building, and service delivery organization in the field of
corporate affairs and corporate governance.

****

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 Ministry of Defence

VISIT BY ADMIRAL ADOONG PAN-IAM COMMANDR-IN-CHIEF

ROYAL THAI NAVY
Posted On: 01 APR 2024 6:05PM by PIB Delhi

Admiral Adoong Pan-Iam, Commander-in-Chief, Royal Thai Navy on an official visit to India from 01 - 03 Apr 2024,
interacted with Adm R Hari Kumar, the Chief of the Naval Staff, at New Delhi on 01 Apr 24. Discussions were centred
around issues of mutual cooperation in the maritime domain, training exchange programmes and information
sharing.

Earlier today, Adm Adoong Pan-Iam laid a ceremonial wreath at the National War Memorial and was thereafter
welcomed with the customary Guard of Honour presented by the Indian Navy at the South Block, New Delhi. He is also
scheduled to call on Chief of the Defence Staff, Chief of the Air Staff, Defence Secretary, and the National Maritime
Security Co-ordinator.

To further deepen Defence Cooperation between both countries, Adm Adoong Pan-Iam is scheduled to meet officials of
the Indian Defence Industries and the Department of Defence Production at New Delhi. Following this, an interactive
session with Indian Navy Officials from the Warship Design Bureau is also planned to explore current trends in ship
building and identify future opportunities, including scope of ship maintenance and repairs in India.

Both navies have been conducting regular Coordinated Patrols on biannual basis since 2005, and the maiden IN-RTN
Bilateral Exercise, viz., Ex- Ayutthaya was held in Dec 23 last year. More recently, one Royal Thai Navy Ship HTMS Prachup
Kheri Khan participated in MILAN 24 held in February 2024 in Visakhapatnam. Both navies are also active member of
Indian Ocean Naval Symposium (IONS) and Indian Ocean Rim Association (IORA). Visit of the Commander-in-Chief of
the Royal Thai Navy to India is a testimony of strong bilateral relations and lasting friendship between both navies.
 ___________________________________________________________________

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 Ministry of Defence

Defence exports touch record Rs 21,083 crore in FY 2023-24, an

increase of 32.5% over last fiscal; Private sector contributes 60%,
DPSUs - 40%

Number of export authorisations rise to 1,507 in FY 2023-24 from 1,414 in FY 2022-

23
Posted On: 01 APR 2024 5:27PM by PIB Delhi

Defence exports have touched a record Rs 21,083 crore (approx. US$ 2.63 Billion) in the Financial Year (FY) 2023-24, a
growth of 32.5% over the last fiscal when the figure was Rs 15,920 crore. The recent figures indicate that the defence
exports have grown by 31 times in the last 10 years as compared to FY 2013-14.

The defence Industry, including the private sector and Defence Public Sector Undertakings (DPSUs), have made
tremendous efforts in achieving the highest-ever defence exports. The private sector and the DPSUs have contributed
about 60% and 40% respectively.

In addition, there has been a rise in the number of export authorisations issued to the defence exporters during FY
2023-24. From 1,414 export authorisations in FY 2022-23, the number jumped to 1,507 in FY 2023-24.

A comparative data of two decades i.e. the period from 2004-05 to 2013-14 and 2014-15 to 2023-24 reveals that there
has been a growth of 21 times in the defence exports. Total defence exports during 2004-05 to 2013-14 were Rs 4,312
crore, which has gone up to Rs 88,319 crore in the period from 2014-15 to 2023-24.

The remarkable growth has been achieved due to the policy reforms and ‘Ease of Doing Business’ initiatives brought
in by the Government, in addition to the end-to-end digital solution provided to the Indian industries for promoting
defence exports. This growth is a reflection of global acceptability of Indian defence products and technologies.
 Ministry of Earth Sciences

During the upcoming hot weather season (April to June), above

Normal maximum Temperatures are likely over most parts of
country, says IMD

Indian Meteorological Department today released ‘Updated Seasonal outlook for hot
weather season (April to June) 2024’ and

‘Monthly Outlook for April 2024 for the Rainfall and Temperature’
Posted On: 01 APR 2024 9:10PM by PIB Delhi

India Meteorological Department (IMD) today issued an updated Seasonal outlook for hot weather season (April to
June) 2024 and Monthly outlook for April 2024 for rainfall and temperature at Mahika Hall, Prithvi Bhawan, New
Delhi.

In a press conference held in a hybrid mode, IMD today said that during the upcoming hot weather season (April to
June), above Normal maximum Temperatures are likely over most parts of country, especially with high probability
over central India and western peninsular India. Addressing the Media Dr Mrutyunjay Mohapatra, DG, IMD said
“Normal to below normal maximum temperatures are likely over some parts of western Himalayan region, NE states
and north Odisha during this hot weather season”.

The other highlights pertaining to temperature scenario during April to June 2024 are given below:

During the 2024 hot weather season (April to June (AMJ)), above-normal maximum temperatures are likely over
most parts of the country, except some parts of east and northeast India and pockets of northwest India where
normal to below-normal maximum temperatures are likely.
 During the season (AMJ), normal to above normal minimum temperatures are likely over most parts of the
country except of some isolated areas in northeast and northwest India, where normal to below normal
minimum temperatures are likely.
For the month of April 2024, above-normal maximum temperatures are likely over most parts of the country.
However, isolated pockets of east, northeast and northwest India are likely to experience normal to below-
normal maximum temperatures.
Above normal monthly minimum temperatures are most likely over most parts of India, except one or two
pockets of northwest and northeast India where normal to below-normal minimum temperatures are likely
during April 2024.
During April May June hot weather season, above normal heatwave days are likely to occur over most parts of
south peninsula, central India, east India and plains of northwest India.
During April 2024, above normal heatwave days are likely over many parts of south peninsula and adjoining
northwest central India and some parts of east India and plains of northwest India.
The rainfall during April 2024, averaged over the country as a whole, is most likely to be normal (88-112% of
LPA). Normal to above-normal rainfall is likely over most parts of the northwest India and many parts of central
India, north peninsular India, some parts of east and north east India. Below normal rainfall is likely along east
and west coasts, some parts of east and northeast India and west central India.
Addressing the press conference DG, IMD said that a transition from El Niño to ENSO-neutral is expected by April-June
2024 and thereafter, La Niña is favored in June-August,2024.

Talking about the impact of Heat Wave during April to June & April 2024, DG, IMD said during heatwaves elevated
temperatures pose significant risks, especially for vulnerable populations like the elderly, children, and those with pre-
existing health conditions, who are more susceptible to heat-related illnesses such as heat exhaustion and heatstroke.
He said prolonged periods of extreme heat can lead to dehydration, and strain infrastructure such as power grids and
transportation systems. He added in order to address these challenges, it is imperative for authorities to take proactive
measures like providing access to cooling centers, issuing heat advisories, and implementing strategies to alleviate
urban heat island effects in affected areas. Efforts are also needed for safeguarding public health and minimizing the
adverse impacts of heatwaves.

He also informed the media that preparedness measures are being taken by NDMA, Ministry of Jal Shakti, Ministry of
Agriculture, Ministry of Health and Ministry of Power to mitigate the effects of Heat Wave.
Shri Kamal Kishore, Member and Head, NDMA informed the media that NDMA has taken all measures including
holding Annual Workshop with Ministry of Earth Sciences, 23 Heat wave prone States/ UTs, selected districts, and key
sectors like Health, Water, Agriculture, Railways, and the civil society. They are also following the best practices of
Army. He added that Advisories have been issued to 23 Heat wave prone States/ UTs in March itself and Heat Action
plans (HAPs)for these states/UTs are ready. More than 200 cities/districts have prepared local HAPs.NDMA is also
running an Awareness Generation campaign using Radio (Helpline FM Rainbow), TV (special episode of Aapda ka
Samna, regional DD channels),eVidya DTH TV channels, and social media. Shri Kamal Kishore further informed that in
view of the upcoming General Elections 2024, an Advisory has also been issued to the Election Commission to take
precautionary measures to guide States and UTs in safeguarding against heat wave incident.

Short-term preparedness to long-term mitigation taken by NDMA are as follows:

• Comprehensive Mitigation Framework

• NDMA Manual on Cool Roof: technologies to reduce indoor temperature.

• Advanced Meteorological Services and operational forecasts for temperature, wind, humidity, and heat index to
inform mitigation strategies.

• Ecosystem and Water Management: green cover, water bodies

• Making Heat Action Plans more dynamic and adaptive.

• Integrating Heat wave Mitigation in Urban Planning: cool roofs, greenery, and water conservation as key facets,
changes in building codes and bye laws.

• Technological solutions: Construction technology, monitoring system.

Addressing the press conference DG, IMD said that a transition from El Niño to ENSO-neutral is expected by April-June
2024 and thereafter, La Niña is favored in June-August,2024.

To mitigate the effects of heat wave Shri Kamal Kishore shared that based on NDMA Guidelines, all 23 Heatwave
prone States/ UTs have preparedHeat action plans.

Giving insights on current status of agriculture especially with respect to wheat crop, Dr Mohapatra said “1.21 % more
area sown than last year and estimated production 112.02 million tonnes which is about 1.46 MT more than last year”.
The production of wheat is expected to be around 112-114 million tonnes and heat waves would not have any
significant impact on wheat production as 80-85 % wheat has been sown either early or timely between 25th October
to 30th November. and 70 % area under climate resilient varieties.

He also informed that M/o Health and family welfare has issued Advisories to State Health Department on Heat Wave
season 2024. Ministry of Jal Shakti is alsoregularly monitoring the storage position of 150 important reservoirs of the
country.

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 Ministry of Finance

Auction for Sale (issue/ re-issue) of (i) ‘7.33% GS 2026’, (ii) ‘New
GS, 2034’ and (iii) ‘7.25% GS 2063’
Posted On: 01 APR 2024 8:56PM by PIB Delhi

The Government of India (GoI) has announced the sale (issue/ re-issue) of (i) “7.33% Government Security 2026” for a
notified amount of ₹6,000 crore (nominal) through price based auction using multiple price method, (ii) “New
Government Security 2034” for a notified amount of ₹20,000 crore (nominal) through yield based auction using
multiple price method, and (iii) “7.25% Government Security 2063” for a notified amount of ₹12,000 crore (nominal)
through price based auction using multiple price method. GoI will have the option to retain additional subscription up
to ₹ 2,000 crore against each security mentioned above. The auctions will be conducted by the Reserve Bank of India,
Mumbai Office, Fort, Mumbai on April 05, 2024 (Friday).

Up to 5% of the notified amount of the sale of the securities will be allotted to eligible individuals and institutions as
per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.

Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve
Bank of India Core Banking Solution (E-Kuber) system on April 05, 2024. The non-competitive bids should be
submitted between 12:30 p.m. and 01:00 p.m. and the competitive bids should be submitted between 12:30 p.m. and
01:30 p.m.

The result of the auctions will be announced on April 05, 2024 (Friday) and payment by successful bidders will be on
April 08, 2024 (Monday).

The Securities will be eligible for “When Issued” trading in accordance with the guidelines on ‘When Issued
transactions in Central Government Securities’ issued by the Reserve Bank of India vide circular No. RBI/2018-19/25
dated July 24, 2018 as amended from time to time.

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YKB/VM/KMN
 Ministry of Finance

Second highest monthly Gross GST Revenue collection in March at

₹1.78 lakh crore; Records 11.5% y-o-y growth (18.4% on net basis)

Yearly gross revenue ₹20.18 lakh crore; 11.7% growth (13.4% on net basis)
Posted On: 01 APR 2024 3:41PM by PIB Delhi

Gross Good and Services Tax (GST) revenue for March 2024 witnessed the second highest collection ever at ₹1.78 lakh
crore, with a 11.5% year-on-year growth. This surge was driven by a significant rise in GST collection from domestic
transactions at 17.6%. GST revenue net of refunds for March 2024 is ₹1.65 lakh crore which is growth of 18.4% over same
period last year.

Strong Consistent Performance in FY 2023-24: FY 2023-24 marks a milestone with total gross GST collection of Rs.
20.18 lakh crore exceeding ₹20 lakh crore, a 11.7% increase compared to the previous year. The average monthly
collection for this fiscal year stands at ₹1.68 lakh crore, surpassing the previous year’s average of ₹1.5 lakh crore. GST
revenue net of refunds as of March 2024 for the current fiscal year is ₹18.01 lakh crore which is a growth of 13.4%
over same period last year.

Positive Performance Across Components:

Breakdown of March 2024 Collections:

Central Goods and Services Tax (CGST): ₹34,532 crore;

State Goods and Services Tax (SGST): ₹43,746 crore;
Integrated Goods and Services Tax (IGST): ₹87,947 crore, including ₹40,322 crore collected on imported goods;
Cess: ₹12,259 crore, including ₹996 crore collected on imported goods.

Similar positive trends are observed in the entire FY 2023-24 collections:

Central Goods and Services Tax (CGST): ₹3,75,710 crore;

State Goods and Services Tax (SGST): ₹4,71,195 crore;
Integrated Goods and Services Tax (IGST): ₹10,26,790 crore, including ₹4,83,086 crore collected on imported goods;
Cess: ₹1,44,554 crore, including ₹11,915 crore collected on imported goods.

Inter-Governmental Settlement: In the month of March, 2024, the Central Government settled ₹43,264 crore to CGST
and ₹37,704 crore to SGST from the IGST collected. This translates to a total revenue of ₹77,796 crore for CGST and
₹81,450 crore for SGST for March, 2024 after regular settlement. For the FY 2023-24, the central government settled
₹4,87,039 crore to CGST and ₹4,12,028 crore to SGST from the IGST collected.

The chart below shows trends in monthly gross GST revenues during the current year. Table-1 shows the state-wise
figures of GST collected in each State during the month of March, 2024 as compared to March, 2023. Table-2 shows the
state-wise figures of post settlement GST revenue of each State till the month of March, 2024.
Chart: Trends in GST Collection

[1]
Table 1: State-wise growth of GST Revenues during March, 2024

State/UT Mar-23 Mar-24 Growth (%)

Jammu and Kashmir 477 601 26%

Himachal Pradesh 739 852 15%

Punjab 1,735 2,090 20%

Chandigarh 202 238 18%

Uttarakhand 1,523 1,730 14%

Haryana 7,780 9,545 23%

Delhi 4,840 5,820 20%

Rajasthan 4,154 4,798 15%

Uttar Pradesh 7,613 9,087 19%

Bihar 1,744 1,991 14%

Sikkim 262 303 16%

Arunachal Pradesh 144 168 16%

Nagaland 58 83 43%

Manipur 65 69 6%
Mizoram 70 50 -29%

Tripura 90 121 34%

Meghalaya 202 213 6%

Assam 1,280 1,543 21%

West Bengal 5,092 5,473 7%

Jharkhand 3,083 3,243 5%

Odisha 4,749 5,109 8%

Chhattisgarh 3,017 3,143 4%

Madhya Pradesh 3,346 3,974 19%

Gujarat 9,919 11,392 15%

Dadra and Nagar Haveli and Daman & Diu 309 452 46%

Maharashtra 22,695 27,688 22%

Karnataka 10,360 13,014 26%

Goa 515 565 10%

 Lakshadweep 3 2 -18%

Kerala 2,354 2,598 10%

Tamil Nadu 9,245 11,017 19%

Puducherry 204 221 9%

Andaman and Nicobar Islands 37 32 -14%

Telangana 4,804 5,399 12%

Andhra Pradesh 3,532 4,082 16%

Ladakh 23 41 82%

Other Territory 249 196 -21%

Center Jurisdiction 142 220 55%

Grand Total 1,16,659 1,37,166 18%

Table-2: SGST & SGST portion of IGST settled to States/UTs April-March (Rs. in crore)
[2]
Pre-Settlement SGST Post-Settlement SGST

State/UT 2022-23 2023-24 Growth 2022-23 2023-24 Growth

Jammu and Kashmir 2,350 2,945 25% 7,272 8,093 11%

Himachal Pradesh 2,346 2,597 11% 5,543 5,584 1%

Punjab 7,660 8,406 10% 19,422 22,106 14%

Chandigarh 629 689 10% 2,124 2,314 9%

Uttarakhand 4,787 5,415 13% 7,554 8,403 11%

Haryana 18,143 20,334 12% 30,952 34,901 13%

Delhi 13,619 15,647 15% 28,284 32,165 14%

Rajasthan 15,636 17,531 12% 35,014 39,140 12%

Uttar Pradesh 27,366 32,534 19% 66,052 76,649 16%

Bihar 7,543 8,535 13% 23,384 27,622 18%

Sikkim 301 420 39% 839 951 13%

Arunachal Pradesh 494 628 27% 1,623 1,902 17%

Nagaland 228 307 35% 964 1,057 10%

Manipur 321 346 8% 1,439 1,095 -24%

Mizoram 230 273 19% 892 963 8%

Tripura 435 512 18% 1,463 1,583 8%

Meghalaya 489 607 24% 1,490 1,713 15%

Assam 5,180 6,010 16% 12,639 14,691 16%

West Bengal 21,514 23,436 9% 39,052 41,976 7%

Jharkhand 7,813 8,840 13% 11,490 12,456 8%

Odisha 14,211 16,455 16% 19,613 24,942 27%

Chhattisgarh 7,489 8,175 9% 11,417 13,895 22%

Madhya Pradesh 10,937 13,072 20% 27,825 33,800 21%

Gujarat 37,802 42,371 12% 58,009 64,002 10%

Dadra and Nagar Haveli and Daman and

637 Diu 661 4% 1,183 1,083 -8%

Maharashtra 85,532 1,00,843 18% 1,29,129 1,49,115 15%

Karnataka 35,429 40,969 16% 65,579 75,187 15%

Goa 2,018 2,352 17% 3,593 4,120 15%

 Lakshadweep 10 19 93% 47 82 75%

Kerala 12,311 13,967 13% 29,188 30,873 6%

Tamil Nadu 36,353 41,082 13% 58,194 65,834 13%

Puducherry 463 509 10% 1,161 1,366 18%

Andaman and Nicobar Islands 183 206 12% 484 528 9%

Telangana 16,877 20,012 19% 38,008 40,650 7%

Andhra Pradesh 12,542 14,008 12% 28,589 31,606 11%

Ladakh 171 250 46% 517 653 26%

Other Territory 201 231 15% 721 1,123 56%

Grand Total 4,10,251 4,71,195 15% 7,70,747 8,74,223 13%

****

YKB/VM/KMN

[1]
Does not include GST on import of goods

[2]
[2]
Post-Settlement GST is cumulative of the GST revenues of the States/UTs and the SGST portion of the IGST settled to the
States/UTs

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 Ministry of Information & Broadcasting

Mumbai International Film Festival's Doc Film Bazaar Submission

Deadline Extended till April 10
Posted On: 01 APR 2024 12:53PM by PIB Mumbai

The Ministry of Information and Broadcasting has announced the extension of the submission dates of
projects for the first-ever Doc Film Bazaar which is being organised alongside the 18th Mumbai
International Film Festival (MIFF). The deadline, which was earlier March 31, 2024, has been extended to
April 10, 2024 for the ease of submission of projects by filmmakers working in geographically remote
areas of the country.

The Bazaar will be held from 16th to 18th June 2024, in Mumbai. The Doc Film Bazaar aims to be a first-
of-its-kind comprehensive platform designed to promote and support documentary, short films and
animation content showcasing talent in filmmaking, production and distribution.

The key segments of the Doc Film Bazaar consist of Doc Co-Production Market (Doc CPM), Doc Viewing
Room (Doc VR) and Doc Work-In-Progress Lab (Doc WIP) for which the filmmakers are invited to submit
their films. Doc Co-Production Market (CPM) is a platform exclusively designed to find artistic and
financial support from the global film fraternity. It is a segment to facilitate partnerships between
filmmakers and potential producers or co-producers globally. It provides a platform for collaboration, co-
productions and funding opportunities for documentary and animation film projects.

Filmmakers can pitch their projects and explore avenues for financial support and collaboration from
both domestic and international level. The selected projects from the Doc Co-Production Market will get
an opportunity to pitch their project in an Open Pitch session as well as a dedicated space to have One-to-
One meetings with the producers, distributors and financiers. The Viewing Room (VR) is a platform for
filmmakers to showcase their documentary, shorts and animation film. It is a restricted space where
registered delegates are granted access to view a curated selection of the films and this platform is ideal
for films seeking world sales, distribution partners, co-producers, finishing funds and screenings at film
festivals.

The Work-In-Progress Lab (WIP) is a closed door lab for films in a rough-cut stage where the selected
project representatives get mentorship, feedback and an opportunity to interact with industry
professionals. The lab is open only to documentary and animation films above 30 minutes. The only
criteria is that the film to be submitted should be in its rough-cut stage or just before the final edit and
the film should not have begun with their post production processes like DI or final sound design.

Speaking about the initiative, Joint Secretary (Films) and MD, NFDC, Shri. Prithul Kumar said, "The main
focus of Doc Film Bazaar is to provide access to the opportunities that showcase genuine and compelling
stories on an international scale. This platform will help filmmakers gain valuable insights into the
current trends, market demands, distribution strategies and audience preferences. Doc Film Bazaar will
enable the selected projects to receive valuable feedback, insights and suggestions from the industry
experts and experienced filmmakers, while giving them the much-needed opportunity to find
collaborators who can buy their films or help them to complete the projects."

More details on the submission process is available on the MIFF website. at www.miff.in
 ***

NJ/DY

Source: NFDC

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 Ministry of Information & Broadcasting

Ms Sheyphali Sharan takes charge as Principal Director General,

Press Information Bureau
Posted On: 01 APR 2024 11:20AM by PIB Delhi

Ms Sheyphali B. Sharan has today assumed charge as the Principal Director General, Press Information Bureau upon
superannuation of Shri Manish Desai yesterday. Ms. Sharan is an officer of the 1990 batch of Indian Information
Service.

During an illustrious career spanning over three decades, she has held cadre portfolios of largely looking after media
publicity work as Press Information Bureau officer for Ministries such as Finance, Ministry of Health and Family
Welfare, Ministry of Information and Broadcasting. She has also served as the Spokesperson for Election Commission
of India.

In addition, she has worked on Central Staffing Scheme Deputations as Director in Ministry of Health (Department of
Traditional Systems of Medicine/AYUSH (2002-2007)) and Ministry of Finance (Department of Economic Affairs 2013-
2017) besides working on cadre post of OSD (Information Policy at Ministry of Information and Broadcasting, 2000-
2002) as also as Director Administration and Finance at LSTV, Lok Sabha Secretariat in 2007-2008.

Upon assumption of charge, Ms Sharan was welcomed by senior officials of Press Information Bureau.

***

Pragya Paliwal/Saurabh Singh

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 Ministry of Power

REC wins SKOCH ESG Award 2024 in Renewable Energy Financing

Category
Posted On: 01 APR 2024 6:19PM by PIB Delhi

REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading NBFC, has been
bestowed with the SKOCH ESG Award 2024 in the 'Renewable Energy Financing' category. The award underscores
REC's dedication to sustainable financing, paving the way for a greener future and accelerating the transition to
renewable energy. Executive Director, REC Limited, Shri T.S.C. Bosh received the award in New Delhi.
REC has emerged as a significant player in India's clean energy transition, actively contributing to the nation's
sustainable future. Through various initiatives and achievements, REC has committed to numerous sustainable
projects and signed various MOUs for green projects.

Furthermore, REC has engaged in one-on-one discussions with various developers of green projects, spanning sectors
such as solar, wind, Pumped Storage Projects, E-mobility, RE manufacturing, green ammonia and green hydrogen, and
battery storage.

Looking ahead, REC anticipates a significant expansion in its renewable energy portfolio, with projections indicating
growth to 10 times its present value, reaching more than Rs. 3 lakh crores by 2030, representing approximately 30% of
its Assets Under Management.

The SKOCH ESG Awards recognize organizations that demonstrate outstanding performance in Environmental, Social,
and Governance (ESG) practices. The SKOCH ESG Award and Assessment serve as an important benchmark for
evaluating organizations' commitment to India 2047. It focuses on the interplay between sustainable investments and
processes in shaping a sustainable and growing business future.
About REC Limited

REC is a 'Maharatna' Central Public Sector Enterprise under the Ministry of Power, and is registered with RBI as Non-
Banking Finance Company (NBFC), and Infrastructure Financing Company (IFC). REC finances the entire Power-
Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like
Electric Vehicles, Battery Storage, Pumped Storage Projects, Green Hydrogen and Green Ammonia projects. Recently,
REC has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail,
Airports, IT Communication, Social and Commercial Infrastructure (Educational Institution, Hospitals), Ports and
Electro-Mechanical (E&M) works in respect of various other sectors like Steel and Refinery.

REC Ltd. provides loans of various maturities to State, Central and Private Companies for creation of infrastructure
assets in the country. REC Ltd. continues to play a key strategic role in the flagship schemes of the Government for the
power sector and has been a nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal
Upadhaya Gram Jyoti Yojana (DDUGJY), National Electricity Fund (NEF) Scheme which resulted in strengthening of
last-mile distribution system, 100% village electrification and household electrification in the country. REC has also
been made the nodal agency for certain States and Union Territories for the Revamped Distribution Sector Scheme
(RDSS). The loan book of REC stands at Rs 4.97 Lakh Crores and Net Worth at Rs. 64,787 crores as on 31st December,
2023.
 ***

PIB DELHI | Alok Mishra / Dheep Joy Mampilly

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