News on Indian Economy
Construction of 56,368 houses have been approved under PMAY-U at 53rd Central Sanctioning and Monitoring Committee Meeting held here last evening. These houses are proposed to be constructed under various verticals of PMAY-U Mission. A total of 11 States/UTs attended the meeting.
According to Gartner forecast on Tuesday, government IT expenditure in India is estimated at US$ 7.3 billion in 2021, an increase of 9.4% YoY.
Bharat Heavy Electricals Limited (BHEL) on Friday announced that it supplied 100th space-grade battery to the Indian Space Research Organisation (ISRO). This will be used for the Chandrayaan-3 mission which is scheduled for 2022, which aims to put the rover on the moon for in-situ studies.
The pace of construction of national highways has touched a record 34 km a day, the government said on Monday. This is almost three times the rate of highways construction at about 12 km per day in 2014-15.
BHEL said in a statement that the project will be established on an Engineering, Procurement, and Construction (EPC) basis at Tamarind Falls, Henrietta (Phase II), Mauritius.
On Monday, the parliament approved a bill to increase foreign direct investment (FDI) in the insurance sector from 49% to 74%. Union Minister for Finance and Corporate Affairs, Ms. Nirmala Sitharaman, who is piloting the Bill, stated that increasing the FDI limit in the insurance sector will support insurers in boosting additional funds and overcoming financial issues.
The Government has made a co-contribution amount of Rs. 57,078.22 lakh (US$ 78.73 million) disbursed till February 2021 under Atal Pension Yojana, this was stated by Mr. Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Lok Sabha today.
India has supplied the second shipment of equipment to Chabahar port in Iran, Union Minister Mansukh Mandaviya said on Monday.
The CPWD floated one tender on March 12 and two on March 19 and set the date for opening of bids as April 8 and April 15 respectively. The single-lane road project of 10.22 km length till the Shilung La base was estimated to take 42 months and cost ₹93.80 crore, according to the tender document.
Observations made by Pune-based upgraded Giant Metrewave Radio Telescope (uGMRT), operated by TIFR – National Centre for Radio Astrophysics (NCRA), will be used along with the data gathered by some large radio telescopes located in Europe, America and Australia.
