News on Indian Economy
India’s Finance Minister Nirmala Sitharaman announced that the Indian government has approved the setting up of a Development Fund Institution (DFI). The new national bank will use the markets to raise capital and put those funds into long-term projects.
The revenues of the domestic ship-breaking industry are forecast to increase by 10% YoY in FY21, due to increased availability of condemned vessels and higher rates of steel scrap, stated Crisil on Monday.
As per the statement, in 2020, accessories sales were the largest on the platform. Over 120 million accessories and consumer electronics followed by 10 million mobile phones were sold on the platform in 2020.
Compared to the other APAC countries surveyed, India ranked highest in workplace satisfaction, with a percentage of 98 per cent and is followed by China (97%). The survey showcases that key factors impacting workplace satisfaction in high performers are access to a wider range of sophisticated workplaces and technologies and a strong change management program designed to motivate employees to make optimum use of the spaces and technologies available will be the key to boost Human Performance. The correlation is clear – the more varied and innovative the spaces and technologies provided, the higher the workplace satisfaction of employees.
India’s imports from the United States – the world’s top producer – rose 48% to a record 545,300 barrels per day (bpd) in February from the prior month, accounting for 14% of overall imports last month, the data obtained by Reuters showed.
National Steel Policy enshrines the long term vision of the government to give impetus to the steel sector. The policy envisages to create a technologically advanced and globally competitive steel industry that promotes self-sufficiency in steel production as well as economic growth.
The discussions on RuPay card, considered as an alternative to Mastercard and Visa, was part of this dialogue, he added. “The financial dialogue adds a new dimension to the growing bilateral relationship between the two countries, as India shares its experience on cashless economy, digital payments, financial inclusion, digital security of financial institutions and DBT with the Philippines,” he said.
The new rules for permits are expected to go a long way in promoting tourism across the States in our country, while simultaneously, growing the revenue of state Governments. The step was discussed in the 39th & 40th Transport Development Council Meetings and was appreciated & concurred to by participants from the states. The rules come even as the Ministry is in the pursuit of providing seamless movement to tourist passenger vehicles, after the success of goods carriage vehicles under National Permit Regime.
The computerization of parcel management system is being extended from 84 locations to additional 143 locations in phase-II and 523 locations in phase –III
“E-commerce operators must ensure equal treatment of all sellers/vendors registered on their platforms and not adopt algorithms which result in prioritizing select vendors/sellers,” it says.
