News on Indian Economy
The 68.72 kilometre long Jaynagar-Bijalpura-Bardibas railway project has been funded by the Indian Government entirely. According to the Railway Ministry, train operations on the Jayanagar-Kurtha section will facilitate movement between the two nations, as
India might soon be getting world-class facilities at its lighthouses. According to reports, the Marine Aids to Navigation Bill, 2021 was introduced in the Rajya Sabha. The bill was passed by the Lower House of the Parliament, and it aims to bring heritage lighthouses in the country to the forefront. The bill repels the archaic Lighthouse Act, 1927, which currently controls the lighthouses in India.
India has made noticeable progress in ease of cross-border trade, a UN survey, which tracked 143 economies on key trade facilitation parameters over a two-year period, said. According to the latest UN Global Survey on Digital and Sustainable Trade Facilitation, India’s rank moved up from 78.49% in 2019 to 90.32% in 2021. The biannual survey deals exclusively with trade facilitation measures taken up by countries.
The Indian Railways will soon roll out 806 new air-conditioned three-tier “economy” coaches this fiscal to offer the “cheapest and best AC travel in the world,” news agency PTI reported on Tuesday, quoting railway officials. Economical in nature, these coaches will have a fare ranging between that of AC three-tier coaches and non-AC sleeper class coaches, the officials further said.
In case of production the farmers have been registering higher productivity across all segments of Agriculture. There has been record growth in total output of food grains, oilseeds, horticulture, milk and so on. The annual production under various sectors has increased appreciably as seen at the end of the year 2020-21. These include a food grains output of 303.34 MTs as against 252.23 MTs(2015-16); 326.58 MTs of fruits & vegetables as against 259.3 MTs (2015-16); 208 MTs of milk as against 155.49 MTs (2015-16).
The Government has launched a Bad Bank with all the regulatory approvals in place. This was stated by Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in the Lok Sabha on Monday.
Indriyam Biologics, recognised by the Department of Scientific and Industrial Research (DSIR) and Startup India, intends to resolve this issue through their new monovalent snake-venom detection biosensor device which finds out if a snakebite is venomous or non-venomous by analysing a drop of the victim’s blood. It is also capable of distinguishing the species of the snake and the quantity of venom circulating in the patient’s body.
The device works with both AC mains and a hand-cranked generator built into the unit, and does not require any battery change. The start-up has reported that the device’s battery has been tested for a large number of charge-discharge cycles therebymaking it cost-effective. The device is ideal for hospitals located in cities and remote areas. So far, over 200 devices have been deployed across India and Africa, as per the stats provided by the start-up.
Chief Public Relations Officer of Western Railway, Shri Sumit Thakur stated that, “With the use of Tejas SMART Coach, Indian Railways aims to move to predictive maintenance instead of preventive maintenance. The introduction of this modern Tejas Sleeper type train for long distance journey, is another paradigm shift by Indian Railways for enhancing the travel experience for the passengers.” He also mentioned that Tejas type Sleeper coaches are manufactured at Modern Coach Factory (MCF) which will gradually replace the premium long-distance trains over Indian Railways network.
The Government has taken a number of steps to facilitate digital banking, doorstep banking services and digital lending platforms.
