A round-up of the biggest articles from newspapers.
Pharma companies get nod to work on non-Covid vaccines
The government has allowed pharmaceutical firms to start work on non-Covid vaccines as the country is slowly getting back to normalcy after the terrible Covid waves, reports Business Standard.
Why it’s important: Many of the pharma companies were focusing only on Covid vaccines so far.
? Several pharma firms hit roadblocks during the pandemic to start trials on non-Covid vaccines as getting volunteers or their regular monitoring for the purpose.
? There are many other vaccines are awaiting clinical trials.
? Bharat Biotech’s influenza vaccine, GlaxoSmithKline’s rotavirus vaccine, and Serum Institute of India, Sanofi, and GSK to start Phase 3 clinical trials of their inactivated Salk polio vaccine, hexavalent vaccine, quadrivalent influenza, and the herpes zoster vaccines, among others got the clearance to carry on the work.
Uneven rains create a worry for higher inflation
The break in the southwest monsoon again at several parts of the country have created a concern among several corners on food inflation, reports Business Standard.
Why it’s important: The uneven pattern of rains in the country may affect the production of agricultural output, especially on kharif crops.
? The impact will be higher on products like oilseeds and pulses.
? The worry is more as the monsoon is in its retreat and a only a few weeks left for the normal seasonal rains.
Industry complains e-commerce regulations harm customers
The planned e-commerce norms are likely to hurt the interests of common customers, reports Mint citing a letter from the Internet and Mobile Association of India (IAMAI).
Why it’s important: IAMAI represents India’s top e-commerce players such as Flipkart, Amazon, Tata group companies, among others.
? It says that the new proposals deny online sellers a level-playing field.
? They say the new rules will also hit small suppliers to the e-tailers.
For the second straight week, business resumption activity is normal
The resumption of businesses is back on track for the second straight week and is above the pre-pandemic levels, reports Mint citing the Nomura India Business Resumption Index (NIBRI).
Why it’s important: It shows that the recovery is faster after the second wave of the pandemic.
? But the recovery is needed to be sustained as the chances of a third wave is still a risk.
? Nomura says the festive season, the government’s DA payment to its employees, faster vaccination drive, momentum in the economic activities as well as better financial health are the reasons for the recovery.
World is looking at India to lead digital economy transitions: Cisco President
Daisy Chittilapilly, President, Cisco India & SAARC, in an interview with the Mint, said that Cisco has focused on developing localised industry-specific digital solutions to drive growth.
What she says: The demand for low-touch, digital alternatives in retail, banking, education, healthcare and entertainment is rising exponentially.
? The world is looking at India and SAARC to lead the most critical transitions as the digital economy gains traction.
? To address and capture the opportunities, Cisco is rebalancing the R&D investments to focus on critical areas from cloud security and collaboration to education to healthcare.
Peer-to-peer lending gets momentum with help from large fintechs
Peer-to-peer (P2P) lending is gaining momentum in the country, says a Mint report.
Why it’s important: P2P lending, an emerging asset class, is going through a revamp.
? Large fintech firms including BharatPe and Cred have launched offerings to its customers.
? It enables the customers to earn and borrow at competitive market rates.
? But the major challenge is creating trust and awareness among the customers.
Centre plans to allow telecom firms to pay AGR dues in 20 years
In a bid to extending a helping hand toward the ailing telecom sector, the government is planning to allow them to pay their adjusted gross revenue (AGR) dues over 20 years, reports The Economic Times.
Why it’s important: The Centre is planning to get legal advice on this as the Supreme Court has given a 10-year window to pay.
? The move will help beleaguered Vodafone Idea and Bharti Airtel in a major way.
? The government is also finalising a relief package for the sector.
Govt plans ?12k-crore incentives to make India a data centre hub
The government is exploring to dole out ?12,000 crore incentive to make India a data centre hub, reports The Economic Times.
Why it’s important: The new sops will encourage companies to set up data centres in India.
? The government is eyeing ?3-lakh crore investment in five years.
? Also to dole out around 3-4% of capital investment as sops.
