News on Indian Economy
Following the announcement of incentive schemes for mobile and IT hardware manufacturing, the government now is considering a major scheme for establishing display fabrication units in India. The Ministry of Electronics and Information Technology (MeitY) has requested expressions of interest (EoIs) from organisations interested in establishing LCD/OLED/AMOLED/QLED-based display fabrication units in India.
According to the report, the quality of FPI inflows boosted during the period, as category-I foreign investors, which include central banks, sovereign wealth funds, pension funds, regulated entities, and multilateral organizations, raised their stake to a high 95% of total equity assets at the end of February 2021, up from 87.5% at the end of December 2019.
Power and new and renewable energy minister Raj Kumar Singh on Friday launched India’s ambitious scheme of offering LED (light-emitting diode) bulbs in rural areas at Rs10 per piece, without any government support or subsidy.
The Dr. P K Mishra Committee was constituted in September, 2013 to review the implementation of crop insurance schemes in India.
Railway Coach Factory / Kapurthala has recently rolled out the first prototype Linke Hofmann Busch (LHB) AC three-tier economy class coach of Indian Railways (IR).
Ministry of Road Transport & Highways has notified draft rules for setting up Registered Vehicle Scrapping Facility (RVSF). The rules lay down the procedure for setting up, authorization and operation of RVSF. Key features are:
Union Minister for Finance and Corporate Affairs, Ms. Nirmala Sitharaman stated on Thursday that India collected FDI worth Rs. 26,000 crore (US$ 3.58 billion) in the insurance sector after the foreign investment limit was raised from 24% to 49% in 2015.
Draft Detailed Project Report (DPR) of Godavari-Cauvery link project consisting of three links viz; Godavari (Inchampalli/Janampet) – Krishna (Nagarjunasagar), Krishna (Nagarjunasagar) – Pennar (Somasila), Pennar (Somasila)-Cauvery (Grand Anicut) link projects has been completed by National Water Development Agency (NWDA) and circulated to party States in March 2019. The comments of party States have been deliberated in a virtual meeting held on 18.09.2020.
Union Road Transport and Highways Minister, Mr. Nitin Gadkari stated on Thursday that India will phase out toll booths and replace them with GPS-based toll collection within a year.
Besides the ongoing project to construct 3,323-km roads along the boundary with China, the Ministry of Defence is working on additional 104 roads (around 6,700 km) along the Line of Actual Control (LAC) in Ladakh, Himachal Pradesh, Uttarakhand, Sikkim and Arunachal Pradesh.
